www.iva.co.uk

Hi

Im thinking of opening a natwest step account, with advantage blue, however they are linked with RBS, Who was two of my creditors (RBS Overdraft and RBS Credit Card). They have said, that although they are part of RBS group they dont share customer details therefore right of offset shouldnt occur.

However how safe is it?
Should I go for it or stay with Thinkbanking?

Thanks

I would not take the chance. Try the Co-op cashminder account, they are supposed to be very good

Nationwide is quite good as well.

You're with Thinkbanking too?!!!
God they're useless.
They hold back too much of our money and I have to spend an hour on the phone trying to get through to them. In the last year we have been with them we have spent £260 on telephone bills. Their staff are incompetent and lazy. One time I called up and asked them to transfer £10 to my card account. They said they had done it and my card balance was £10. I went to the Petrol station and filled up and my card was declined. There was a queue of 10 people behind me. I went home and called TB in a rage, was more enraged when I had to wait 38 minutes to get through and the guy I spoke to said they needed the £10 to cover a direct debit the following day. I asked which DD, he told me and I told him I cancelled that DD 6 months before!!!!! I had to call an external company and ask for my £60 back and it took me 9 months to get it as TB had paid the DD when I asked them not to. Plus the DD recipient never showed up on my statement.

I have had some many complaints with them. I once called them and asked them to change the amount of a dd for my water rates from £53 to £51 and the next month they held back £104!!!!!!!!! So then I have to call them and then I waiting ages for them answer the phone. What also annoys me is when I call the people I speak too at TB are always eating and you can hear then chomping down the phone. It's disgusting. My husband won't let us leave them as they have switch cards but I really want to leave.

They also never told us that they had increased their charges from £12.50 to £17.50 and when I complained I was told that they had text us and written to us but I can categorically state that is untrue. If you look them on the internet other customers say the same thing. Personally I think they increased the charges and couldn't be ar*ed to tell their customers.



Argh thanks for letting me rant.

HI Charlotten,

I had the same sort of problems, I complained to the compliance department, but they didnt want to know, but they seem to be improving, the only bank open to me is Yorkshire Building Society, Yorkhsire Bank and Abbey, I opened an account with Abbey, but they would only give me a cash card, I do have a prepay but it is a pain.

I didnt know that Thinkbanking have increased there fees, I did know they charged £17.50 if you have two cards.

Im looking for a new job at the moment, so once I have that sorted, then I may move, still unusre about the natwest, may just use the Abbey account, or open one with Yorkshire Bank with a Switch card or Yorkshire Building Society with a cash Card.

Thinkbanking has improved slightly over the last few months, but they do have a few problems to sort out, lets hope that internet banking gets sorted soon

Stu, are you already in an IVA? If so I don't think that Natwest and RBS have the right of offset anyway - perhaps Melanie could confirm?

Charlotte, I'm with the Co-op and they are brilliant. I've got a Cashminder account which comes with a Visa Electron, which isn't as good as Maestro, but I've got a Tuxedo Maestro card in case Visa Electron isn't accepted. I pay £4.99 a month for the Tuxedo, but it's a lot cheaper than Think! I had to email them about an error on my statement and it was sorted the next day, so I can't complain about customer service either!

Hi Skippy

Yep im in an IVA with Freeman Jones, but dont know whether the right of offset applies now. Or whether RBS and Natwest Share details.

Hi
Once in an IVA your creditors are bound and can't offset your debt from linked accounts.They would do this prior to the IVA acceptance
However if you receive a windfall from that creditor[bank charges for example]they could use it to reduce their claim in an IVA.
Regards

With Natwest I had an overdraft, loan and credit card. With RBS I had a credit card. On entering my IVA Natwest requested that I stop issuing cheques. They stopped my Switch card and issued me with a solo card. After 3 months they said, on review, that I could use a cheque book again. However there was no guarantee card for it. They did, however, continue to pay all my direct debits. To this end I have been very grateful to Natwest as they allowed me to live a fairly normal life within the IVA. Without the Solo card things would have been much more fraught. Now, being rehabilitated, I have a maestro card and an overdraft facility. That said, post IVA I will never use it.

So it looks quiet safe to use natwest?

But are natwest ok as a bank? How do they compare to Think?

Hi
I have been with Think for approx 4 years but swapped to the Co-op cashminder account earlier this year.I can thoroughly recommend the Cashminder account.
In all honesty any High st bank account must be better than Think Banking when it comes down to customer service and I would look for an account with internet banking,as with the Cashminder account
Regards

Thanks Andy,

I cant go with the Co-op as they were one of my creditors, I rang them and asked if I could post IVA and they said no.

The halifax arent sure whether they can continue my account as ive just gone into an IVA

Lloydstsb refused

Abbey I have a basic cash card account, but a debit card is nice

Natwest is the only one left, and they said they dont share information but to test the water see what happens.

Hi I have a Abbey account with and debit card. After 6 months try and ask the cashier what your card status says, I am aware that your credit rating will be pants but the way the personal banker explained it to me was as long as we managed our account with them okay then the debit card would be safe. I will post on the forum if anything changes once in IVA.

Good luck

We also have a Co-op cashminder account that we pay our House insurance from - the insurance is with RBS and they are one of our creditors and I didn't want they dd going from the same account our wages went into - how paranoid.......[:D]

I used to have a savings account with Halifax into which my family allowance was paid. Halifax was also one of my creditors, quite a big one.

I went in to close the account one day, only to find out that Halifax had taken out most of the money that was left in there - all of £38! This was to offset against my loan which was about £21,000. Made a big dent then...........!

So beware if you have any money left in any bank accounts linked to your creditors.