www.iva.co.uk

Hi, can I just ask those of you that have been their IVA accepted, is it quite hg that your new bank account will be closed? I have opened a new Santander Current account, had it up and running for 3 wks & onlt at the stage where I hae received the IVA proposal... I'm worried after reading some things on here that some banks just close ur new account...? Please help..

Hi and welcome! I have only heard of HSBC and First Direct closing accounts. As long as Santander are unrelated to any of your creditors yu will be fine. Congrats on getting the ball rolling x

Santander seem to be pretty supportive of customers who are in IVAs, so long as you don't have any debt with them in the first place.

Hi as others have said so long as it's not connected to any of your creditors your account should be fine. Good luck with your IVA x

Santander actually sent both me and hubby an application form for credit cards yesterday!

They're in the recycling!

my creditors are Egg / M&S / Halifax bank account & credit card. Tell me none of them are linked to Santander pleeeease... Thanks everyone for support. This site is a life saver. I never realised so many people were in the same position!

Can't see anything about Egg belonging to another company and M&S is owned by HSBC. Halifax is part of the HBOS group so you should be ok.

Does egg now belong to CitiBank, they did a few years ago

Yes, Ginger, Egg was bought by the Citigroup in May 2007.

Apparently they are now trying to sell it on again after record losses

I'm worried now, I am in the process of applying for Iva. At the process where have sent in all up to date statements.
Opened new account with HSBC 3 weeks ago and is up and running. Dont think I have creditors linked to them. Will they cloe the account?

Hi Moneysaver, I am afraid HSBC haven't the best track record for being IVA tolerant. That said, some people have mangaed to keep their accounts running, luck of the draw I guess --- but they are known for shutting IVA'ers accounts down.

Oh no, is that known of them recently? do you know which banks are ok to go to? we dont have that many as live in a small town. Cant use tsb as my debts are with them, so cant use any in bank of scotland group. I think that just leaves Barclays?

do you think i should go and get another new bank account now or just wait to see if they do close?

thanks

Co-op Cashminder is a popular option, can be opened on the phone and operated on the internet -- money and cheques can be paid in at the local post office. Barclays are also known to be IVA friendly (as long as the basic account is applied for). By all accounts Nat West are good too.

Co-op and NatWest come highly recommended on here. I'm with Lloyds so Can't give a personal recommendation. Barclays are worth a shot as are any of your local building societies. And I just learnt recently that some credit unions off accounts - so a google might turn something up. The branch thing may be less of an issue than you think - I haven't been in one since I handed in a form to change my address!!