Bank Account for my children

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Honeybee1980

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Post by Honeybee1980 » Thu Mar 16, 2017 11:15 pm
Hiya
We were really silly and did not open a new bank account for our small children when we closed bank accounts and opened new ones for us before the IVA started. Family members have sent cheques to my boys for birthday and Christmas and we can't cash them. Need to deposit them into their bank accounts. Our bank, Co-operative Bank has turned us down for accounts for our children. Are there any banks that will allow us to open an account for them even with our bad credit status? Thank you

kallis3

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Post by kallis3 » Fri Mar 17, 2017 6:58 am
You could try Nationwide and open their childrens accounts and of course they will be savings accounts in their names. Hopefully it will solve the problem.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk

Foggy

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Post by Foggy » Fri Mar 17, 2017 9:02 am
I opened a childrens savings account with the Swinton Building Society after enquiring and being told that the IVA was no obstacle as the account is in the child's name and I was merely a trustee.

Co-Op do have a strange attitude to those in an IVA having savings !
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014

kallis3

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Post by kallis3 » Fri Mar 17, 2017 9:04 am
Which is weird when it is not your account but your childrens and is in their name!!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk

Kazza

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Post by Kazza » Fri Mar 17, 2017 1:36 pm
We also opened a current account for our son with Nationwide long after we started our IVA with no problems. In fact my son has a better type of account than the husband! Husband has a basic cash account, son has Flex One account and I managed to top them all and get a flex plus account with Nationwide! To be fair, my credit rating was fine pre IVA when I got the account, as never defaulted but was in the long haul due to debts in joint names! But anyway, my point is, the IVA never affected getting an account for our son :D
IVA started Sept 2012, Full & Final accepted Aug 16th 2016 & CC issued 10th Jan 2017

Honeybee1980

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Post by Honeybee1980 » Sun Mar 19, 2017 10:48 am
Thank you all for your advice. I will try Nationwide. Yes I was really surprised at the Co-ops decision, it didn't make sense.

plasticdaft

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Post by plasticdaft » Sun Mar 19, 2017 5:29 pm
Always had a post office account as a kid. Think they still do them.

Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
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