www.iva.co.uk

Well I guess I knew it would happen.... Natwest just sent me an email welcoming me to my new basic account. I had their normal no fee account which I opened prior to my IVA and now im on the register they have chosen to downgrade me. Was only a matter of time I guess, now I can only withdraw cash from limited cash points. Ah well at lest they kept the same account number and didnt get rid of me compleatly! Funny I got a welcome email before anything else though!

Can you still use the online banking ?

Oh dear. This sounds ominous for all of us with a Natwest account. Have you submitted a PPI claim recently?.

There was a thread on this a few weeks ago. Will have a look..

Yes online banking still works. My account number is the same. I imagine they will send out a new debit card though? Will see if anything comes in the post tomorrow. I don't have any ppi claim with them so just assume its because they have now found out about the iva. My account is more healthy than anytime in the last 5 years. Shame I will be slightly restricted now but at least it still has a debit card.

Oh no sorry to read this. We have a natwest select account opened in prep for iva. It bugs me that they can do this as itsxa simple account no OD or cheque book so is iva criteria! i hope we dont get downgraded once iva up and running but not getting hopes up. banks are a pain in the A***!!!

I wonder if the direct debit to Grant Thornton made them realise perhaps....

hi ontheup1976

I wouldnt worry too much ; i went 3 years with Nationwide with only a basic cashcard, which meant couldnt be used anywhere other than ATMs. it was only the last 2 or so years of my IVA that i had the benefit of their cashcard+ ie basic debit card that your getting now. I suppose slightly different for me as it was actually an improvement from what I had been used to. So what if it turns out you cant use at " pay@pump " when buying petrol.

Dont get too down, yes i know its still annoying , but you will still have the benefit of a debit card and only you ie not shop staff know the difference.

How long have you been in your IVA for out of interest ?

Thank you 12 months to go. I dont drive so not being able to use it at pay at the pump will be no problem. I generally take my so called pocket money out at the beginning of the month and pay for groceries by debit card online so it shouldnt be too much of a problem at all but I guess I was just hopefull I would get to keep a "normal" account especially as its looking healthy enough.

My other main concern was they would change my account number especially as im self employed this would have been a royal pain in the but but thus far its unchanged thankfully.

Not good, hope it doesn't cause you too much disruption.

Just before my IVA started I opened a Santander basic account. It is really good. I do all my banking on line, I can get money for free out of all major bank machines, and I now have text alerts for when my account gets low. So I can be proactive about putting money in if needed or holding my breath till the pay bacs credit goes in. It does not matter that my nearest branch is 8 miles away as I can say they have excellent telephone help as well when needed. They also for a time did my house contents insurance but I have recently moved that to the CO-OP. The only problem with basic accounts occurs if you need to do major transactions like pay a rent deposit. If the people are stupid and will not accept a bank transfer you end up getting money out 3 days on a trot. At least you feel rich for a few days although it is not your money.

I wonder if Nat West are just downgrading the non fee paying select accounts or the silver select as well.

I would have been surprised if they changed your account number and sort code as this would have been a bit of a pain!

As long as you still have the majority of the functionality I am sure you will find a way of adapting to it.

I wish you well and hope that is doesn't cause you much of a convenience. Do read through their terms though so you are aware of everything

I finished my IVA two years ago and still have my nationwide cash card (now renamed from cash card plus) I assume that they dumped that cash card without the visa debit bit, just for one account with a debit card...Anyway it covers everything including online and monthly statements and don't cost me a bean, just can't use it abroad and I see that as a good thing