www.iva.co.uk

We have a joint savings account with Natwest that we opened brand new when we started the whole process which is where we will save the contingency...

but...I would like to open a savings account where I can put any spare cash that I manage to save from my housekeeping. at the moment I am keeping it in a money bag but of course this can't stay like this. I don't like to keep too much money in the house.

I was thinking of doing an e-savings account with natwest, that way its easier to keep track of it.

where do any of you save any extra little bits?

Hi Karin,
Is the Co-op one of your creditors?
I've just opened a Co-op bank and savings account. It was approved on-line and set up within days. The on-line access is a bit limited compared with Natwest/RBS but I've not played with ut properly as my wages haven't gone into it yet.
I thought I'd have to keep my spare cash in a sock in the house but Melanie and other have said its no problem having a visible savings account so I'm looking forward to having REAL savings for a change.
Nick

Oooh thats interesting about having savings, we were thinking we would have to stash cash in the loft
We are going to try and be as frugal as possible to help us pay for xmas etc.
So how much would you be allowed in a savings account I wonder? And would you have to send the statements in with the annual review?

You can save as much as you want mrsb and you won't have to send in statements for the annual review as far as I am aware.

I have the e-savings with Natwest Karin and it's great, when you do your online banking all accounts show and it's a simple couple of clicks to transfer money over. x

i have a natwest step account and 2 e-savings account. really easy to manage online and transfer between accounts if you need too.

I have just this minute ( well about 20 minutes ago) opened an e-saver account with Yorkshire Building Society.

Did it all online in about 5 minutes, got the account details right away and made the first deposit.

They just checked the electoral list electronically. No credit check and no pain.

That's positive Foggy and will help other posters deciding on a savings account. x

Good news Foggy.

That's great Foggy!!

I have just transfered some money over into my new e-saving Natwest account.
One great thing about it, which I have just realised, it has a savings tracker so for an example you can put what you want to save for, how much you can save each month, and when you want to save it up by....that's a real silly little thing, but that's a great incentive for me!

Natwest used to do a savings account with a Visa Debit card attached think it was called first reserve which you can apply online and get a decision for, may be worth a try

Interest rate is pretty lousy though - the e savings one is better.

The debit card is optional.

When i have th IVA accepted the current account at my bank will be frozen,but if i have a savings account elsewhere (with nothing in it) does that get frozen too?

Hi barra just ensure your accounts are not connected in any way with any of your creditors and it should be ok. x

Barra, I presume you have opened a new bank account not associated with your creditors? If not they you should do so straight away.

With an IVA your bank account isn't frozen, it's on bankruptcy that does that.

You will find though that your old bank account, if you owe them money, will be closed. If you don't owe them anything it will be fine.