www.iva.co.uk

Hi All, I need to open a business account asap as hopefully my IVA will be accepted next week. We are currently with HSBC who I understand from reading the forum will close the account's as soon as they get wind of it. It does not have to be an all singing all dancing account, just a business account. I have just opened a personal account with the Halifax and was going to open 2, however it states very clearly in the T & C's that the account must not be used for sole trader or partnership accounts. Any Advice would be welcomed. Thanks Guys.

Hi Jo and welcome.

You may struggle with getting a business account but try and get one within the next week if you can, you might be lucky.

Hi Jo,

Kallis is spot on as to open one quickly, but have you checked T&C's with HSBC, worst they can do is close it, they might be understanding about it, but no guarantees.

HSBC will close the account - they are well known for it as they actively trawl the Insolvency Register. First Direct do the same.

Thanks Kallis I will certainly keep this in mind and also good to know that First Direct do this also, i was not sure but hope Jo gets lucky.

First Direct are owned by HSBC and even if they are not a creditor they will close the account down - really bad in my opinion.

Ok, Cheers Guys.

I managed to open one with Barclays. You should give them a try. I opted for the didn't ask, didn't tell approach.

Good luck. Defo get this sorted before your IVA goes through xx

Fingers crossed - let us know how you get on with opening the account.

I have managed to open an ultimate reward account (personal account)minus the overdraft and have applied with the co op for a business account - got docs through today and am gonna have a go but credit check not been done yet. It feels like I have a million defaults so think it will be a no no,I will let you know though. Can't go to Barclays as I have 3 Barclays Credit Accounts as part of my debts.. . thanks for the suggestion though. If I don't have any luck I will just use my other current account which I have standing in the wings as a last resport. Thanks again Guys J

Hi - good luck xxx

kallis3 wrote:

HSBC will close the account - they are well known for it as they actively trawl the Insolvency Register. First Direct do the same.

Yes I was 19yrs with First Direct and had do debt with them and they closed it ! about 4 months after my IVA started.

Don't you love their loyalty.

Mmmmm and their bonus's!!! I can't see what the problem is really if you run your account ok and don't have an overdraft... their loss and that though.

Cheers J

I've never had a high opinion of HSBC or First Direct - HSBC made life awkward for my uncle and aunt when he was diagnosed with terminal cancer as they made a big issue of taking him off the joint account, even though there were no debts.