Can't open a Savings Account

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johnB

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Post by johnB » Mon Mar 08, 2010 10:34 pm
It is annoying.

I wasn't asking for an overdraft, cheque book or a credit card. But still made to feel like a criminal.

Now so many people are in an IVA perhaps some of the banks may change their approach to people who have had credit problems.
 
 

kallis3

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Post by kallis3 » Mon Mar 08, 2010 11:05 pm
Unless Natwest are one of your creditors, then you could try their basic account.
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Shining

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Post by Shining » Tue Mar 09, 2010 7:51 am
I have the Step Account and savings account with Natwest didn't have any problem opening either.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

kalf

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Post by kalf » Wed Mar 10, 2010 11:04 am
I live in the West Midlands. Thanks for your advice. I think the best approach is to go to the bank themselves, explain my situation, and hope this will go some way to allowing me to put my bl**dy money in their banks. Unbelievable isn't it, that it is so difficult putting your own money into their grubby little coffers. It's nice to know I am not the only one who feels like this.
 
 

johnpotter

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Post by johnpotter » Wed Mar 10, 2010 12:56 pm
Simple: Buy Premium Bonds every month. Never know you may win and pay your IVA off early!!! Interest from the Bank is no worth saving.
 
 

kallis3

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Post by kallis3 » Wed Mar 10, 2010 1:16 pm
The minimum purchase is £100, and I doubt many of us have that to spare each month!
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.
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Skippy

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Post by Skippy » Wed Mar 10, 2010 2:36 pm
Just a side note, if you buy Premium Bonds monthly by standing order the minimum is £50 per month.
 
 

wannabedj

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Post by wannabedj » Wed Mar 10, 2010 3:13 pm
I have a natwest step account, yet when I tried to open a savings account I was declined. So what I do now, is any extra pennies I have left over at the end of every month I put on my 02 pre-paid VISA card.
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kallis3

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Post by kallis3 » Wed Mar 10, 2010 10:51 pm
Thanks Skippy.

Couldn't even manage to do that I'm afraid!
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
 
 

Skippy

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Post by Skippy » Thu Mar 11, 2010 9:32 am
Same here, but I just thought it was worth mentioning! It's something I might consider when my IPA is over but no chance at the moment!
 
 

johnpotter

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Post by johnpotter » Fri Mar 12, 2010 8:27 am
kallis3 wrote:

The minimum purchase is £100, and I doubt many of us have that to spare each month!
If you read his problem you will note that he MUST save to pay off his tax and insurance at the end of the year and I doubt that he would be paying less than £50 a month. Its not 'spare' as you seem to imply.
 
 

kallis3

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Post by kallis3 » Fri Mar 12, 2010 8:40 am
Personally speaking, I think a proper savings account would be better if he can get one.
Last edited by kallis3 on Fri Mar 12, 2010 8:49 am, edited 1 time in total.
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
 
 

Skippy

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Post by Skippy » Fri Mar 12, 2010 8:58 am
I agree with Jan, while Premium Bonds are great and can be cashed in it I feel it would be better to have a normal savings account so he can get at the money without any hassle.
 
 

kallis3

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Post by kallis3 » Fri Mar 12, 2010 9:34 am
Or, kalf could open a second cashminder account to put his money across to.
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
 
 

Skippy

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Post by Skippy » Fri Mar 12, 2010 10:08 am
That's a good point. I've got 2 Cashminder accounts and I had no problems opening the second one.
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