www.iva.co.uk

Could we have a sticky of IVA friendly banks. I'll start off with banks I know of

Basic rules
- Don't request an overdraft
- Don't open a bank account with a creditor or linked creditors
- A full bank account is OK if you can get one
- Most people get a basic bank account which includes a debit/cash card but no chequebook or overdraft

Linked companies
Cooperative
-Co op bank
-Smile

Lloyds Banking group
- Bank of Scotland
- Halifax
- Lloyds
- TSB
- Intelligent Finance

Royal Bank of Scotland
- Natwest

HSBC
- First direct

National Australia Bank
- Clydesdale
- Yorkshire bank

Friendly if opened before IVA commences and they aren't creditor
- Bank of Scotland (maybe other Lloyds group banks)
- Nationwide
- Yorkshire bank
- Cooperative Cashminder

Alternatives to high street banks
- ClearCash (fee paying)
- Secure Trust (fee paying)
- Credit Unions (varies by area and union, try googling for you local ones)

Known to close accounts of during IVA(assumes your not a debtor to them or a linked bank
- Cooperative
-> none Cashminder accounts
-> Don't allow savings accounts

- HSBC
- First Direct
- Lloyds (they haven't closed mine, but there are reports/rumors that they have closed others)

Martin

It is an ever moving target Martin, unfortunately, but you could add the Yorkshire Bank as one of the IVA friendly ones - and don't forget accounts where there are monthly charges, but no credit checking, such as the ClearCash and Secure Trust accounts.

It might be also worth adding that the Co-Op will refuse you a savings account (but will give multiple Cashminder accounts).

updated first post with suggestion from Melanie and Foggy

Are Tescos and RBS linked ?, I think they were but not sure if they still are

As previously mentioned - there is an increasing amount of credit unions offering current accounts - so depending where you live, it may be worth looking at this as an alternative to the "Big Banks

You could also try Metro Bank. They say they do have some people in IVAs. It seems to be a branch manager discretion.

Does anyone know if credit unions normally do credit checks leaving a footprint? Some seem to offer current accounts - that could help to achieve zero monthly fees.

NatWest allowed me to keep my basic account and e-saver account although it had been opened and used as a main account for at least 6 months before the IVA. The downside to this account is you have to use either RBS or NatWest cash machines only and you only get a debit card that is online only.

We're nearly 4.5 years into the iva and bsnk with llyods and touch wood have had no problem with them

I opened an account at Barclays before my iva started , I asked for a basic account but I was given a current one but I have no overdraft or cheque book and so far they have been fine .

I bank with Co-op I started after My IVA which they are aware of
No Cheque book or overdraught but they have been great with us

I find the Co-op fine, a bit slow updating the account balances online, but otherwise OK.

Not keen on their "3 strikes and you are out" policy, but overcame that by opening two Cashminder accounts: One has my salary paid in and all my bills paid out ..... knowing exactly what I spend on regular bills I leave that amount, plus £50 in that account, which then takes care of itself. The balance gets put into the other Cashminder, from where I pay for housekeeping, petrol and all the flucuating spending. This one needs more careful monitoring, but I only have to keep in mind what I have just spent, rather than thinking ahead to what DDs or SOs are due out.

I've always been with Natwest and do have a full Smile account which I run alongside but only used for the cheque book facility.

I banked with Santander prior to my IVA and had their 123 current account, an ISA and an eSaver account as well as my mortgage with them. I am 12 months into my IVA and so far (touch wood) I still bank with them and haven't had my account downgraded or anything and I sincerely hope it doesn't happen as I am happy where i am! I have however opened a nationwide flex bank account just before my IVA was approved in the scenario that Santander threw me out! (I think that one is also still active although I don't use it!)

ive been with co-op since the begining of my IVA and i have a current account, cashminder and savings account, (mind you its always empty)But never had a problem with them