Change of bank account in IVA?

[IVA_kid]

I have been in IVA for over 2 years and currently with the Gregory Pennington managed Thinkbanking account. Have recently had a few problems with the bank and i'm also thinking the fee (around £12.50 per month i believe) is not worth it, so i'm thinking of changing banks. I'm looking for one which is cheaper or free and gives me a debit card (preferably maestro or visa) and also one that i can do either standing orders or direct debits. I'm not sure electron is good as lots of places don't accept it, especially internet retailers.

Do you have any recommendations for the bank account?
What about a prepaid debit card account?
Should I notify my IP that i'm changing?
Thanks

[kallis3]

Hi,

You may find it difficult to get a bank account with a debit card in an IVA. You could try the Co-op or Yorkshire Banks as they are sympathetic to people in IVA's. I think you need to visit the branch though rather than do it online. They both do DD and SO's.

If you can't get a debit card, you can get a prepaid card which is usually accepted in most places. There is a link at the side of the home page so that you can compare different cards. David Mond, an expert who posts on here has one. You can check the details out on his experts page.

You will need to inform your IP as you will be setting up the payments from a different account.

[flumpy dog]

co-op cashminder is recommended
took 3 weeks to fix up but ive got it now !

[Dumplin]

Hi,

I recently applied and was accepted for a current account with Co-op. I applied online and they sent me a Visa Debit card within 7 days. I would highly recommend them.

I have been in IVA for 30 months now.

Good luck.

[soreloser]

I can recommend the Co-op too. Very good.

[joanna_d]

hi

i have just opened an account with thinkbanking and i have got a maestro card with chip and pin i know that u could open an account with lloydstsb

[MrsKnight]

Yorkshire Bank do a basic account with Maestro card & online banking services & no credit checks - but you do have to apply by phone or in a Branch.
They are owned by the Bank of Australia, so they will be highly unlikely to be linked to creditors & are sympathetic to people in IVAs.
Have a look at my recent posts (by clicking on my profile pic) as I have recently chatted about this to another member today.

[MelanieGiles]

I've been speaking at a conference today, with some of David's collegues, and the ClearCash card does appear to be a very good product and I will be bearing it in mind for my own clients as an alternative to a run of the mill current account.

[David Mond]

Thanks for the plug Melanie - it is going to be a fantastic product on its relaunch.

[jim_h]

i got one with lloyds tsb is a cashcard and debit card only and they know i have a iva