I have been asked to become a joint signatory on business account at work in order to access funds from a recent grant we have received (work are not aware of my IVA). In order to set this up I have to take ID to the bank. My worry is that they would do a credit check and refuse me a signatory, also the bank is one of my creditors (I had a credit card with them).
Please advise how I get out of this OR would I be okay to become a signatory.
I believe that your employer is a separate entity to you as an individual. On that basis, would think the bank will only be interested in the Company's credit file, not yours.
I guess they just need to see ID to add a signatory, to verify who you are and to comply with fraud/money laundering legislation. Doubt they will need to do a credit check.
Good luck.
My opinions are just that: Based on my experience and being a self-employed IVA customer.
Hi there
I'm a signatory at work and I've never had a problem, although this was set up pre IVA. However, it is with HSBC and I'm sure they would have said something by now if it was an issue!
I doubt that the bank will carry out a personal credit check on you, if all of the other company banking facilities are with that bank. But there may be a slight risk that they might - do you have to become a signatory or could someone else do it?
I think I will see if someone else can do it. I can trust the person who has asked me, so I think I will explain reason why I don't want to chance it. I'm sure she will be fine with that.
may not be the case but I've managed 'millions of Lottery and other charity funding' have been a director and signatory or at least five major project - have been a signatory on my building residents association through numerous changes - and passed a number enhanced CRB checks in the years I was in the IVA, Best advice bluff it and see what happens -you aint gonna take their money,its about money laundering and ID.
Don't tell anyone about the IVA unless it comes up.It really isn't relevant
I am presently experiencing the same issue as JAn Jan and would appreciate it if Jan Jan or one of the fellow posters could give me some advice on this please??? Feeling quite desperate as I need to have clear in my head by 2mor morning how I am going to handle this....
Thanks in advance for any reply
E xxx
