Whilst I wouldn't choose to have an account for which I have to pay, if I was refused an account elsewhere, it is something to think about and having read the Secure Trust Website I think it sounds ok and no worse than Think banking (which has had some bad reviews on here).
Anyone thinking of such an account would be advised to do some research first before taking one of them on.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I think we are going that way i.e the removal of basic accounts, I know when I ring Coop they ask me why have I got a cashminder, why not a normal account and when I have enquired about a basic account with LLoyds and Abbey they say its something that they dont really offer anymore.
Thinkbanking is ok, especially as it was them who started the Managed account idea under the GP Managed accounts service.
The secure trust account is the old evolution card but rebranded with a mastercard-debit again £12.50.
There are others such as OneBanking which dont allow Direct Debits and CredEcard services which is the same as OneBanking but they charge £4 a month for their services.
Defo something that is going to become more apparent in the UK.
I can only hope that Nationwide upgrade my account to a proper Flex account at some point.
We still have a full Barclays account, but as they were one of my creditors (not hubby's) I shall leave well alone until after my IVA is completed.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
the clearcash card is also being launched with a £10 monthly fee. A lot of retailers are also giving cashback if using the clearcash iccount. So another that is well worth looking at depending on what facilities you require.
IVA.co.uk The best place for debt advice. Thanks to Melanie Giles, David Mond, David and J (Elv5) Kallis, Dand, Skippy, Andy Davie
I shall stay where I am for now - it's free and we use cash for everything anyway.
If I do make purchase on the internet, I just load my Paypal card and use that.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Jan,
Nationwide are getting very strict. My mum works in an angency for them and on thier application forms now even for basic accounts it is asking if you are in or ever have been in an IVA. So me thinks I not going to get a debit card.
IVA.co.uk The best place for debt advice. Thanks to Melanie Giles, David Mond, David and J (Elv5) Kallis, Dand, Skippy, Andy Davie
Paul, had an e-mail from my MP- going to ask a ministerail question on this issue as he says "an IVA is something to show as a matter of pride not failure because only those who want to repay enter into them and the banks should realize that". Will keep the forum posted.
If they leave me alone I'll happily stay as I am for now!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I was lucky that also had a nationwide account although I actually thought I had closed it and didn't find out until I tried to get a new one prior to going into my Dmp then iva. I just havn't got a debit card though and I don't think they are going to give me one. Might try the paypal card and if the bank start charging I will go for the clearcash one then for certain.
IVA.co.uk The best place for debt advice. Thanks to Melanie Giles, David Mond, David and J (Elv5) Kallis, Dand, Skippy, Andy Davie
Nationwide seem very strict with new accounts, but if you've already got one they seem happy for you to start using it.
I had a full Flexaccount from years before I went BR. I hadn't used it for years so I asked them if I could have a card so I could start using it again and they actually sent me a debit card and chequebook!
we are in joint iva . my husband has bank account with hsbc and never had a problem , i had one with natwest but we have just opened cashminder with coop as its easier with both sets of wages going into one account . we havent had any probs at all.
I think it is a shame that more High Street Banks don't realise that the majority of people in an IVA are responsible with their money after a steep learning curve. We are now with Think Banking who are great all the staff I have spoken to have been very pleasant and extremely helpful yes there is a £25 set up fee and a £12.50 fee each month + a further £5.00 for extra debit cards. The High Street Banks have been at best unhelpful and at worst down right rude.
I am proud that I am sorting out my debt I could have gone Bankrupt but chose not to as I personally wanted to pay back as much of debt as I could (please do think I am having a go or think I superior to those who have chosen BR as I feel it is down to personal choice and circumstances) It is a shame that Banks don't realise this.
Jan
Nothing you can buy feels as good as not being in debt.
