Net West account deactivated without any notice. Now have no account for payday.

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Joe.l

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Post by Joe.l » Tue Jul 19, 2016 7:43 am
hi
been using a nat west account with overdraft
now they just deactivated it without any notice whatsoever
went to the branch and was told they done it because I'm in IVA
iva started 2 months ago
account was set up 3 months ago
they never ask me if I was on iva at the application process.
now my payday is next friday and have no bank account to get the mouney paid into.
natwest wasn't one of my iva creditors
any overdraft was paid off at each payday
asked at the branch to take off the overdraft facilty and change the account to a basic one, they said it's not possible
asked if i can make a switch to a different bank, they said it s not possible
asked them because of lack of time to open s nee account elsewhere if i can use the account for my upcoming wage to be paid into, they said it's not possible and they'll send the money back to my employer
 
 

kallis3

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Post by kallis3 » Tue Jul 19, 2016 8:09 am
Hi,

Speak to Barclays and/or the Co-op - they are IVA friendly although I doubt you would be able to change things over.

Natwest cannot tell you that it's impossible to switch banks.
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
 
 

lifenoteasy

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Post by lifenoteasy » Tue Jul 19, 2016 9:05 am
The issue was you retained a credit facility.

Ultimately your ip would have caught on and told you were in breach of your iva and/or told you to bring the overdraft into the iva creating a debt for natwest.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
 
 

Foggy

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Post by Foggy » Tue Jul 19, 2016 9:10 am
As above, open an account at co-op --- Cashminder. Alternatively, as a stop gap, can you get your salary paid into a building society savings account ? Many will open one with no credit check.

Yorkshire Building Society do a few "bank like" accounts.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

Lisa Thomas

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Post by Lisa Thomas » Tue Jul 19, 2016 9:21 am
When you opened the account you weren't in an IVA.

Your circumstances have changed and I'm afraid the Bank are perfectly entitled to withdraw the facility.

You will need to open a 'basic' bank account.

http://www.which.co.uk/money/bank-accou ... -accounts/
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
 
 

Michael Peoples

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Post by Michael Peoples » Tue Jul 19, 2016 10:23 am
You can usually have credit up to £500 while in an IVA but this is really for emergencies. If you opened the new account a month before the IVA was approved then either the account was overdrawn at the time of the meeting or it went overdrawn shortly after approval. Either way NatWest can withdraw your facilities but the question will be whether their debt is bound by the IVA or not.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
 
 

welshwiz

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Post by welshwiz » Tue Jul 19, 2016 2:06 pm
I opened an account with Nat West for my IVA and had a 500 pound overdraft, we have never had any problems, use the overdraft rarely, and still have 16 months of IVA being on records as completed IVA after 23 months. Does this mean they can close my account at a moments notice too?
 
 

kallis3

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Post by kallis3 » Tue Jul 19, 2016 2:08 pm
They can do if they wish. HSBC and First Direct are known for doing this - seems as though NatWest are jumping on the bandwagon.
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
 
 

Michelled0422

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Post by Michelled0422 » Tue Jul 19, 2016 6:51 pm
I opened a basic Natwest account before I started my IVA and I have no problems with them at all for 5.5 years. They wouldn't entertain a mortgage with me but Halifax mortgage has been OK for same period
 
 

watzki

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Post by watzki » Tue Jul 19, 2016 9:43 pm
I opened a nat west account just before our iva and had no problems although we have no overdraft facility.that was six years ago
Today 1st of December 2016 the vultures finally flew away
 
 

Joe.l

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Post by Joe.l » Wed Jul 20, 2016 7:08 am
seems like i screwed up using the overdraft
well my ip told me it was ok up to £500 obviously he was wrong
 
 

kallis3

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Post by kallis3 » Wed Jul 20, 2016 8:22 am
Your IP will give you permission for £500 credit but it's the bank who obviously don't like it.
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
 
 

Foggy

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Post by Foggy » Wed Jul 20, 2016 9:11 am
This is purely down to the bank, not the IP, and could well be due to an over enthusiastic jobsworth rather than policy.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

Lisa Thomas

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Post by Lisa Thomas » Wed Jul 20, 2016 9:25 am
It's nothing to do with your IP - its the bank's decision.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
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