www.iva.co.uk

HI, another question as I figure out if an iva is our best option.

We currently hold 2 bank accounts, one with RBS and one with Co-operative bank. RBS is a large overdraft that is going to be included in our debt and the account is no longer in use. The co-op act we wanted to keep but I did post before and was told that I had to include all my debts even if up to date and we have a loan with these that is currently up to date.

My question is, what bank is likely to offer us a bank account that isnt linked to these or our other creditors...Halifax, Barclaycard, Tesco Bank, Capital One, Sygma(creation). We have a mortgage with Santander-originally took out with Alliance&Leicester. Would it be worth trying them or are they linked to any of the others? I know they were trying to take over RBS but did that go through?

Thanks again

I have just opened a bank account with Yorkshire Bank who were very helpful - i even told them i was looking into IVA.

Steve

Nationwide do a basic account which you can apply for on line and usually get an instant decision. This account comes with a debit card but no overdraft cheque book etc. I don't believe they are linked to any of your listed creditors --- might b worth a try.

I gather Yorkshire Bank are also worth a try - and you could use one of the paid accounts such as ClearCash or Secure Trust.

before we got accepted for our IVA in Feb we opened a basic account with Natwest & a full current account with Yorkshire bank.

We used Thinkmoney, and are still with them now. They give you two accounts, one is for your bills DDs and SOs etc, the other is your cashcard account and they transfer the money for you so that you always know how much you have to spend and can be secure that all your bills are being paid. It's a wonderful system, we wouldn't be without it.

Lots of good ideas there for you to ponder over. I'm with Natwest and very happy with their in branch service, online banking and the Natwest app.

Thank you all,

Think money looked good but I couldnt justify paying £21.25 per month for a joint account, that would come in quite useful elsewhere.

Are Nat West and RBS linked as they are one of our creditors? Looking like Yorkshire Bank may be the one, will give them a call tomorrow I think.

Natwest are linked to RBS are linked so it wouldn't be a good idea to try. I've been with Nationwide for a long time now and I'm happy with them.

I had an RBS debt but still got a basic account with Natwest, i think they are IVA friendly. Only problem is you can only use card at certain machine but more recently i have opened up a savings account with them that you can use at all machines. So i let my bills come out of main account and wage go in and i put my spending money in the savings account which i can easily access. Works perfectly for me!

I would be worried having an account linked to one of my creditors in case they offset the debt. As RBS don't have a very good reputation at the moment I would steer clear if at all possible!

Sorry if im being a bit thick, 'offset the debt?'

As they are connected there is a chance that RBS could take money from a Natwest account towards the RBS debt.

Oh really, never thought about that, had my account for nearly five years now and its never happened. Plus no money in my account for them to pinch!!

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by flossom

Thank you all,

Think money looked good but I couldnt justify paying £21.25 per month for a joint account, that would come in quite useful elsewhere.

Are Nat West and RBS linked as they are one of our creditors? Looking like Yorkshire Bank may be the one, will give them a call tomorrow I think.

Im sure that Think Money offer an additional cardholder on an account at no extra cost - a few forum members do recommend this offering.

Yorkshire bank is one that keeps cropping up so may be worth investigating and if you are struggling finding one, do weigh up the alternatives and see which you feel will work best for you.

A few consumer sites do now have basic bank accounts listed on them, so look at these as well as the paid for accounts such as Secure Trust & ourselves (and Think Money)what is important is your getting the functionality you need at best value