Refused Co-op Cash Minder Account

[Adam Davies]

Hi
It,s an interesting development.
As Melanie has stated there is no legalisation to make banks take on adverse credit customers.
It is so important to open a new account BEFORE your IVA is agreed.
I would give Abbey a try
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[ray_a]

This is not good news!

As I work in the financial world I am getting a number of alarm bells from the banking sector and I think someone is being economical with just how bad this liquidity crisis is within the UK and Global banking sector!

In saying that given these accounts are credit I would have thought the banks would prefer to have our funds!

[lily]

Basic accounts cost the bank money and they make zero from them, I was under the impression that things are going to change. Thats why think banking charge what they do. We (non credit facility) people will be paying for our banking in the mot too distant future, I think. It may be a lot easier, therefore to open a basic hgh st account.
lily

[Lapdog]

Thanks for the responses guys.

Just to re-iterate , i did go into the branch in person with the application and all was checked ok initially. I also rang them last Friday and was advised that all was going through OK. I will contact them again and see if they will tell me why i was declined.

I can't go with Abbey because they are linked with MBNA who are a creditor. Likewise NatWest.

It looks like it will have to be "think banking". Its not the end of the world as the account seems like a good one to me its just the £25 start up fee and £12.50 a month charge seem way over the top . Of course as has been pointed out by Lily, most basic accounts may well start accrueing a charge in future.

I also agree with Ray. i think we've only just scratched the surface of the liquidity problem in this country.

[veekay]

Nationwide dont take on BR people now either. Just two weeks ago they changed their policy, I'm fuming as I waited half an hour in a queue to open an account and was told no. I've been discharged for over a year now, I'm not back in debt. SOMEONE GIVE US A BREAK!!!

what is this world coming to???

[hara]

Dera all,

I went to a branch and opened a cashminder account,Disclosing that I am in IVA.

Go to a branch,Lapdog.

hara

[desperateneed]

What about trying The Post Office? Their website is informative and looks like they do a current and basic account ... Good Luck

[Lapdog]

Dera all,

I went to a branch and opened a cashminder account,Disclosing that I am in IVA.

Go to a branch,Lapdog.

hara

As previously stated. I did go to a branch. It was all checked OK, they photocopied my passport as ID. 18 days later i get a letter declining me.

When did you open yours?

[Skippy]

I opened mine in June and there was nowhere on the form to state that I'm bankrupt which I thought was a bit strange. I obviously told them and they said it wasn't a problem.

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/

[Skippy]

Have you tried Abbey? I think they do a basic account.

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/

[Skippy]

I think some people on here have got Halifax accounts, but I'm not sure what sort of checks they do. I have heard that the account with Abbey is easy to open in a branch.

I'm with the Co-op and I haven't got a local branch which is a pain. I can pay in money at the Post Office, but there is a delay on clearing cheques into the account - not that I get many!

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/

[ray_a]

Hi Skippy

I had a problem when the Post office mislaid a cheque which was found a few days later!

I spoke to the Manager of my nearest branch which is 20 miles away and he told me that one can send cheques to them for processing and I send them special delivery and the funds only take 4 days. i know I pay out with postage but at least I know it gets processed quickly!

[Skippy]

I must admit I was a bit worried about paying the cheques into the Post Office Ray - I think it was the blank look on the face of the man behind the counter when I handed the envelope over!

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/

[alison_r]

Hi,

Try the Alliance and Leister if it is not one of your creditors. I had to apply for a new bank account as my overdraft with first direct was classed as money owing. I applied with A&L online and got an account. They seem quite good so far!!

[veekay]

do you know if you can apply for the A & L account if you are bankrupt??