i currently bank with barclays where i have an additions account which offers extras like green flag assistance for a monthly fee if i enter an iva will i have to open another account or can i still use my account with barclays i am overdrawn within my limit and have a small loan with them
You will need to change your bank account to one with whom you have no debts. The loan and overdraft from Barclays would go into the IVA.
The Co-op and Yorkshire are recommended by other posters. You will probably only be able to get a basic cash account though.
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
I would also open a new account for car breakdown cover as well - Green Flag ought to be able to take you on as a direct customer for a small monthly fee.
You would most likely be able to get more than the basic account if you apply before entering the Iva process however an overdraft is not permitted but you could get you get a full debit card rather than a basic one, personaly I was more than happy with the basic card all things considered!
We used to bank with Barclays and had the same account as you. We had to change because we had debt with them. I was worried as I liked having all the extras with Barclays. Anyway, we opened a new bank account with Natwest. They offered the same kind of account with extras like car recovery etc. It was the advantage gold account. I think we were allowed to open this account because at the time we didn't have a bad credit rating. Perhaps you could try Natwest if you have no debts there and if your credit rating isn't too bad.
Abbey National do a Family Rewards bank account which has Green Flag. You pay £15 a month for this account, you also get discount on places to go and travel insurance. They also have an overdraft with this account but you can ask for this to be £0.
