www.iva.co.uk

Hi there
My IVA completed and cleared from my credit file in June 2012 and I used to bank with First Direct. When they found out about my IVA, they told me that I basically had a month to find another account. I did so and have been with the Co-Op for about 5 years now, with a basic Cashminder account.
I would like more than a basic account(no overdraft) and as my mortgage is with First Direct, I naturally put them top of the list. I've just called them and even though the IVA has gone from my file, they have said that as they know I have had one in the past, they will not open an account in my name again.

I'd just like to know whether this is legal please, as if I had applied as a new customer, they would have been none the wiser.

Thank you

Joanne Hayden

Hi -- they can use any criteria they wish, in essence. However, personally I would avoid any institution that was so willing to get shot of me at the time I needed their support.

Yes they can refuse. Banks use their own criteria which sometimes differs from the information available on the CRA records.

It is up to the individual bank as to whether or not they grant an account.

Why would you want to go back to a bank that shunned you in the first place?

I was with HSBC and if they were the only bank in the world now I wouldn't touch them!!

Banks will often keep their own records a lot longer than the CRA do, some up to 6 years after you have come off the Credit report.
So you are better off not going to a bank that was a creditor or was aware of your IVA.
Have you tried upgrading the CashMinder account?

Hi all

Thank you for your replies.

I wanted to use FD again because they were, for the most part, very efficient and until the IVA, I was happy with them - I still have my mortgage with them and wanted to keep everything in one place.

I did try to upgrade my Co-Op account a few months ago (probably too soon) and they said no, so I am looking for an alternative.

I made the mistake of putting my redundancy money into a Britannia ISA account and the woman in the Co-Op branch didn't tell me that I would either have to visit a Britannia branch or write in to get some money out, so I want to transfer to another, easier access company. My nearest branch is a 30 minute bus ride away !

Lucky I don't need the money urgently.

Can anyone recommend any decent banks ?!? I know "decent" and "banks" don't sit well in the same sentence, but there must be one out there ! I was thinking perhaps Nationwide or Halifax ??

It all depends which ones were in your IVA, I am with Natwest and am really happy with them, especially as they open Saturday morning as well.

If your IVA is off you credit files you could try upgrading the Co-Op again if as you say it was too soon when you tried last time.

Pre IVA I was with the Halifax and always found them to be good.

Thanks Foggy - there's a big branch here in Watford, so sounds like a trip in there may be in order !

Try Nationwide or Barclays - they're good.

I would never use a bank that had booted me out because I had financial difficulties (and not with them).

There's better ones out there than them.

I've been with nationwide for over 20 years, never had any problems with them, but other than a small overdraft have never had debt with them. On line access and you can open an online savings whether or not you're in an Iva. Would definitely recommend them to anyone.

Good luck x

Joh it is difficult at the minute to get a bank account opened as my 16 year daughter has been trying to open one, She found santander to be the easiest and quickest she applied last Saturday online and got an email today to say she should receive her cash card within 10 days her account is a current account with no overdraft