www.iva.co.uk

I have just spoken to Nationwide and they have confirmed that they are no longer accepting applications from undischarged bankrupts but have no plans to close any accounts that are already open.

The reason for this is that they feel it is unfair that the other banks aren't accepting their share of undischarged bankrupts. Lets hope that the Co-op and Barclays don't go the same way.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

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Thanks for the information Skippy, surely someone has to give undischarged bankrupts a bank account.

Best Regards. IVA Experts

It does semm strange that there is so much variation in how banks treat people in IVAs or who have gone bankrupt. Every day seems to bring another example on this forum. I am sure that sooner or later - if insolvencies continue to increase - one of the major banks will see a gap in the market and come up with a guaranteed acceptance account BUT with a fee or charging system to reflect what I assume is viewed as a risk to the bank.

I suppose that's what Think Banking (part of RBS) have already done. I just think it's unfair that if the banks start charging it's going to hit those who really can't afford it.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

just a quick note on think banking, they are now charging an extra £5 per month for additional cards , so if you have a joint account with 2 cards the monthly fee will now be 17.50 which i can say i am really not happy about.
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

The Co Op have started charging yet!

I guess the banks are really worried they are going to lose the case on excess bank charges!

This may be a way to get their own back on us!

That's really bad from Think Banking - I think £12.50 is more than enough, and I'm quite glad I closed my account.

I'm sticking with the Co-op, and if they start to charge I'll have to swallow it, but I think charging for a bank account is wrong.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

I have written to the co-op demanding to know if my IVA have meant they don't want to give me a basic A/C. On the phone Customer servive say that's not the policy.

I only want the Co-op account as the visa electron is useful, but I won't put any money in it as there are no interest unlike the NW giving 4% on your money.

The inconsistency in how Banks treat customers are just a JOKE as in who gets bank charges refunded and those who have to go to court.

I have my salary paid into my Co-op account - by the time the bills are paid the money isn't in there long enough to worry about the interest. Anyway, by the time you are taxed on it as well, is it really worth worrying about?

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

I would have thought there was less risk from 'the likes of us' than the other customers that they keep giving credit to. The accounts are set up so there's no overdraught facility and should therefore never become overdrawn and owe the bank. We have also all learnt a hard lesson and never want to see credit again!
It could just be we will earn less money for the banks by not takeing out loans etc. or am I just being cynical!!
I took out a barclays current account prior to IVA as they have a debit card. I've had no problems so far..........

Pixie -

I think you have hit the nail on the head - as there is no overdraft facility and limited other facilities there is little scope for the banks to make much money from this sort of account. Plus the balance is likely to remain very low once the IVA / BR payment has gone out.

Thanks Skippy

Phew, opened my NW account the day after BR (15/08), although still have my CO oP account as a back up, still not sure when I will be able to use it again though. But glad they are not closing those accounts already opened.

Pippa