What sort of bank account are you allowed

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EB2000

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Post by EB2000 » Thu Jan 21, 2010 1:55 pm
What sort of bank account are you allowed with an IVA?
 
 

animaleyes76

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Post by animaleyes76 » Thu Jan 21, 2010 1:58 pm
Pretty much a basic bank account with no overdraft or credit features. You can set up dd's and do internet banking etc tho.

Maybe a decent(ish) debit card since i read visa electron was being replaced by proper visa debit cards.

That's about your lot. The recommended one on here is usually the Coop (Cashminder I think)
 
 

kallis3

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Post by kallis3 » Thu Jan 21, 2010 2:12 pm
If your credit will allow, you can have a full bank account, but you must have any overdraft removed.

As Animaleyes says, the Co-op is recommended on here.

You must make sure the bank is not one of your creditors though.
Sharing from experiences of dealing with debt
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otter

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Post by otter » Fri Jan 22, 2010 10:29 am
When I opened a new account they automatically gave me a modest overdraft limit. Do I really need to get it removed even I am not using it? I am worried that the bank will start asking question if I want it to be removed.
 
 

Michael Peoples

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Post by Michael Peoples » Fri Jan 22, 2010 10:43 am
As long as the overdraft is not used on a regular basis there is no problem. Having a small buffer on your account will stop bounced DDs and charges in the event of something unforeseen.
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
 
 

flow13

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Post by flow13 » Fri Jan 22, 2010 10:56 am
We are with Halifax. We started off with a cashminder account and then after a year they gave us a Visa Electron card. In the 3 and half years we have had this card we have only found one place that won't accept it.
Its now time to start living and to make some some wonderful memories!
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