New bank account advice needed!

[Mrsfaz]

The cc and loan are from my bank, don't want to alarm them until I have already moved and taken my wages with me. I have cancelled all other payments to my creditors.

[Kelly O]

Sorry we crossed each others posts, hopefully that letter will sort out the problem and you can get the bank acount you want.

[Niobe]

Hopefully you can get sorted MrsMaz.

I'd then stop all payments to my creditors, including the ones to your bank, so you can build up a bit of a contingency fund before the iva.

[UpToMyNeckInIt]

Hi Everyone,

Mrsfez - Welcome to the forum. Your posting is very timely, as I need assistance on this issue also.

Well, I was warned on the forum that this would happen, and it finally has: 5 Months after opening our joint account with HSBC's First Direct, and 3.5 Months into my IVA, they have found out about it. (Account has been managed by us immaculately, but I guess the standing order to Mitchell Farrar might have been a give-away). They have told me in the nicest possible way to p**s off - giving me 60-Day's notice to find another account (they phoned my on my mobile and landline, as well as calling my Wife directly with the same message - very efficient, but ruthless - reminded me of being in debt lol).

What annoys me most is the Wife is very upset, as she is being dragged through the mire because of my financial situation.

So avoid HSBC (I'll be taking bets in a minute to see if/when they do the same to my business account!!! - that's in a ltd company name though, so might be OK).

Just tried to open a new joint account with Nationwide Flex today - they don't want to know if you are in an IVA. (Might be OK if you are pre-iva though).

Got a full Co-Op current account in my name only, but don't want to tell them about my IVA in case they kick me out/downgrade me as well!!!

Wife has an account with NatWest - so again, I don't want to risk applying with them in case they close her account down. (Does anyone know if they are likely to do this?).

My second question to add into the mix is: where can we get a joint account (I'm in the IVA, the Wife is not)?

Will give Yorkshire and Metro banks a go as well, and let you know how I get on.

Finally, some people recommend Barclays. However, they are one of my creditors. My third question relates to their right to 'set-off' funds if I were to open a joint account with them, now that my IVA is established (and has been acknowledged by them). Any ideas?

[Mrsfaz]

Ive spoken to thinkmoney and although there is a charge I like the idea of having the money for my bills ringfenced so i can't get to a stage of not being able to pay them, am waiting for info pack from them.

Cant wait to get straight!

[Skippy]

Do you need a joint account Heretoday? I was thinking that if you and your wife both have full accounts with non creditor banks then it might be worth using them and not upsetting anything. Our bills go out of my husband's account each month and I transfer my share to him.

[steppingstones]

I'm with Natwest and they have been fantastic with me. I opened a Step (Basic) account and it has served me well whilst I've been in my IVA.

[MelanieGiles]

The ClearCash account gives full banking facilities, and on-line banking - but does not ringfence funds. Personally I would not want that facility, but if you feel that it will assist you with budgeting then this may be a better punt.

It is widely known that HSBC regularly do sweeps of the insolvency register to see which of their customers have entered into an IVA, and then they will proceed to close the account. I would never recommend this bank to any client of mine.

[UpToMyNeckInIt]

Well, applying for Natwest's Basic account was a waste of time. When applying online, I got the following message:

'When we were processing your application we performed our standard searches, and found Bankruptcy information registered in your name. Unfortunately we're not able to open accounts where this is the case, until we see confirmation that the Bankruptcy Order has been officially discharged.'

I'm in an IVA, not bankrupt ...clearly Natwest view them both the same.

[Foggy]

That's computers for you -- they have no discretion and have been programmed to recognise BR as opposed to IVAs. It's best to go in branch and explain -- hopefully you will get a manager with the kuhoonas to override the computer!

[UpToMyNeckInIt]

Hi Foggy,

You are probably right - have heard of others having more success in branch.

Got 58 days to sort it out I guess, but one of the pre-paid card accounts is looking ever more attractive.

[Foggy]

I would give the co-op a try --- has to be done in branch or on the phone. I have had my account with them for 2 years and ne'er a problem. Reasonable online access and my debit card hasn't been rejected anywhere.

Edit : Make sure you ask for the cashminder account

[harrimav]

I am with Natwest , moved to them Pre IVA.. No probs at mo but who knows
. They have a fantastic App for keeping an eye on money by the minute !

[roytheplumber]

hi i have just opend a account with think money .com they manage your money and you get a mastercard , hope this helps.

roy

[Niobe]

Bear in mind that the account with think money will incur a monthly charge.