www.iva.co.uk

Hi, I'm currently in an IVA just over 12 months in and I bank with Co-OP very good by the way. However, I would like to open another basic bank account but have been declined by RBS/Nat West on their basic accounts which surprised me.
Does anyone know of any banks other than Co Op who give basic bank accounts to people in IVAs?

Santander do a basic account.

Hi Brendan,

You could try Barclays, I believe they are ok. You could also try Nationwide.

Co-op will open more than one Cashminder I believe as well.

Is there any reason why you would want another bank account?

Were RBS/Nat West anything to do with your debt?

I believe that Yorkshire Building Society and Nationwide can be IVA friendly (as long as they are not a creditor). There's no reason why you can't open another Co-op account if need be. Is it for savings/contingency fund? If so, Co-op would be your best bet as you can do all your transfers on-line quickly and without involving another bank.

our accounts are with tsb and cant fault them x

I forgot TSB - they seem to be ok with basic accounts.

I've recently opened another cashminder account with the Cop-op without any problems. It's been so easy to transfer money over to my contingency fund.

It's a shame that Natwest declined you as I'm with them and do rate them highly, were they a creditor of yours? x

I am with think banking, Its a great account each month my wages go in my bills get put to one side and whats left is put on my card account so i know what i have to spend.

The only thing against Thinkbanking is the fact that you get charged every month for it.

Personally speaking, as long as I can get free banking then I will continue to use that.

I think that Think Banking for a managed account does get some good reviews. I'm a bit of a control freak and do like to be in control of my own bills and for some bizarre reason don't trust anyone else!

I know I'm in an IVA and got myself into this mess lol x

Same here Lesley - I think that managed accounts have their place if you can't get a free one. I like being in control of my money as well and won't pay for anything if I can get it free!!!

Same here Lesley - constantly check on line banking/have running total on my cheque book.

Thinking bank has a place but its expensive with a set up fee as well as monthly fees.(more if its a joint account)

You would have to question though, that have going through a IVA - but letting some else control you bills, how much of a learning curve would you gain on money management

I agree with Jan and Lesley about managed accounts - they really are a last resort, and personally I feel that they don't teach money management as they are doing it for you.

I had 2 Co-op Cashminder accounts and it wasn't a problem opening the second one.

snap Skippy !!