www.iva.co.uk

hi
been using a nat west account with overdraft
now they just deactivated it without any notice whatsoever
went to the branch and was told they done it because I'm in IVA
iva started 2 months ago
account was set up 3 months ago
they never ask me if I was on iva at the application process.
now my payday is next friday and have no bank account to get the mouney paid into.
natwest wasn't one of my iva creditors
any overdraft was paid off at each payday
asked at the branch to take off the overdraft facilty and change the account to a basic one, they said it's not possible
asked if i can make a switch to a different bank, they said it s not possible
asked them because of lack of time to open s nee account elsewhere if i can use the account for my upcoming wage to be paid into, they said it's not possible and they'll send the money back to my employer

Hi,

Speak to Barclays and/or the Co-op - they are IVA friendly although I doubt you would be able to change things over.

Natwest cannot tell you that it's impossible to switch banks.

The issue was you retained a credit facility.

Ultimately your ip would have caught on and told you were in breach of your iva and/or told you to bring the overdraft into the iva creating a debt for natwest.

As above, open an account at co-op --- Cashminder. Alternatively, as a stop gap, can you get your salary paid into a building society savings account ? Many will open one with no credit check.

Yorkshire Building Society do a few "bank like" accounts.

When you opened the account you weren't in an IVA.

Your circumstances have changed and I'm afraid the Bank are perfectly entitled to withdraw the facility.

You will need to open a 'basic' bank account.

http://www.which.co.uk/money/bank-accou ... -accounts/

You can usually have credit up to £500 while in an IVA but this is really for emergencies. If you opened the new account a month before the IVA was approved then either the account was overdrawn at the time of the meeting or it went overdrawn shortly after approval. Either way NatWest can withdraw your facilities but the question will be whether their debt is bound by the IVA or not.

I opened an account with Nat West for my IVA and had a 500 pound overdraft, we have never had any problems, use the overdraft rarely, and still have 16 months of IVA being on records as completed IVA after 23 months. Does this mean they can close my account at a moments notice too?

They can do if they wish. HSBC and First Direct are known for doing this - seems as though NatWest are jumping on the bandwagon.

I opened a basic Natwest account before I started my IVA and I have no problems with them at all for 5.5 years. They wouldn't entertain a mortgage with me but Halifax mortgage has been OK for same period

I opened a nat west account just before our iva and had no problems although we have no overdraft facility.that was six years ago

seems like i screwed up using the overdraft
well my ip told me it was ok up to £500 obviously he was wrong

Your IP will give you permission for £500 credit but it's the bank who obviously don't like it.

This is purely down to the bank, not the IP, and could well be due to an over enthusiastic jobsworth rather than policy.

It's nothing to do with your IP - its the bank's decision.