www.iva.co.uk

Hi folks.
I've gone a made a boo boo and hit the 3 strikes and your out policy with coop bank. Mainly because a load of direct debits bounced When RBS had their clearing issues and me not realising that when you use pay at the pump the money takes an extra couple of days to show on the cash point.

Sooo has anyone had any joy in opening an account with any other bank in the last couple of months as I see its a lot harder to get accounts now?

Thanks
Jase

have you tried Natwest asssuming they're not a creditor?

That seems a bit tight considering the circumstances. I opened a Barclays basic account recently, they were exceptionally helpful. I'm pre-IVA but my credit score must be atrocius. Good luck!

Hi Etheridge,

I understand Yorkshire Bank, and Nationwide are IVA-friendly. There are a few accounts on offer from the likes of 'Secure Trust', 'Cash Plus' 'Think Banking' etc. if you are struggling to find a sympathetic high street bank.

There is the relatively new, independent 'Metro' bank (only have branches currently in/around London/SE England though).

Good luck.

Not sure about Nationwide these days but I do know that Barclays are.

If you are struggling then you can use Secure Trust or Thinkbanking but it comes with a monthly fee.

Nationwide do a cash plus account with debit card. The only restriction you can't use it abroad. You can also get on line with it too.

I'm not sure how IVA friendly they are these days though.

Nationwide state that an IVA is a no, no.

I've got another account with Think Banking that is very very good
but it's just a pain having to pay for a bank account. Secure Trust are quite good (again you pay a monthly fee).

The only other bank I know about that will offer an account to us IVA'ers is Barclays but they are a creditor so not such a good idea

Cheers!

I dont want to contradict, but are you sure etheridge about Nationwide

Granted I opened my account in readiness for moving from Nat West when I was arranging my IVA, so my credit score would have been a minus at that stage even before the IVA, but they opened me an account no probs

Also, other posters have recomended nationwide and i dont recall anyone on here saying theyve had a problem

Its always possible that things could have changed though

I suspect however bad your credit rating is prior to IVA, that's nothing to how bad it gets when the IVA is agreed!!!

Having recently gone through the account switching process myself, my IP advised getting it sorted prior to IVA for this very reason.

Thus, however IVA unfriendly a bank may be, providing you don't subsequently volunteer your IVA status, or go overdrawn/apply for credit, you should be OK. (That said, I have read anecdotal threads advising that some banks routinely trawl the insolvency register and subsequently close the accounts of us insolvent un-desirables!!!).

Case in point, I'm with HSBC (business acc), and First Direct (current acc). Aparently they are the worst of the lot. Will let you all know how long it takes if ever, for them to kick me out once my name appears on the insolvency register.

My daughter opened a nationwide account while in a DMP, she was going into an IVA as the sale had completed on her marital home with a shortfall of £30k we told the person who was dealing with this at the bank and he said as long as she wasn't bankrupt there shouldn't be a problem but it's the system they use that makes the actual decision not a human! She was offered a basic account that allows direct debits. That was about 5 months ago. All you can do is ask. Alternatively if you feel that it was not your fault you went overdrawn can you not make an appeal to the coop?

Good luck

Karen x

My husband and I are pre-IVA, and were looking to move to Nationwide. No branch close by so applied online. We both got rejected (tho Coop accepted us).

Surprised Nationwide rejected you for a basic account but Co-op are well recommended.