Bank??

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spurs

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Post by spurs » Mon Sep 06, 2010 9:52 pm
Hi all, I am in the process of applying for an IVA, most of my debt is with Lloyds TSB,if I am successful with the IVA I presume I will have my Lloyds account closed?? I have opened another account with Secure Trust Bank but im finding every time I use a cash-point I get charged!
 
 

Shining

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Post by Shining » Mon Sep 06, 2010 9:55 pm
I'm not sure how the Secure Trust works but getting charged everytime you use a cashpoint seems a bit steep, I was under the impression they charged a monthly fee but nothing else. Someone who does know will be along soon. Is there a particular reason you chose a 'paid' account rather than a free account away from your creditors. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

spurs

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Post by spurs » Mon Sep 06, 2010 9:58 pm
Hi Lesley its just one Debt Free Direct recommended I dont think I get charged using a Barclays cash point but there is not one where I live!
 
 

Shining

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Post by Shining » Mon Sep 06, 2010 10:06 pm
I'm just on their website now (first time) you can take a free bank account with any bank that's not associated with your creditors. I've a basic Natwest Step Account which works well for me without any charges. I do think the end of free banking will come but for now every penny counts I guess.

I'm sure Declan (DFD) or someone who does know will be along soon to advise on the charge x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

Shining

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Post by Shining » Mon Sep 06, 2010 10:08 pm
I just found that they charge 0.50 for each UK cash withdrawal!

I'm not knocking these accounts as they do have their own place in the market place.
Last edited by Shining on Mon Sep 06, 2010 10:10 pm, edited 1 time in total.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

kallis3

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Post by kallis3 » Tue Sep 07, 2010 8:44 am
Have you tried the Co-op spurs? It comes highly recommended.

Unless you are unable to open a free bank account, then I wouldn't have a 'paid for' account at the moment.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
 
 

MelanieGiles

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Post by MelanieGiles » Tue Sep 07, 2010 9:32 am
Or the Yorkshire Bank are very good as well. I would never recommend a paid account to a client unless they could genuinely not source free banking - which even today is relatively straightforward.
Regards, Melanie Giles, Insolvency Practitioner
 
 

Declan at DebtFreeDirect

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Post by Declan at DebtFreeDirect » Wed Sep 08, 2010 10:20 am
Hi All
From what I am aware of, there is a withdrawal charge. though hopefully the account will soon have a cash back feature which will help save some additional money.

Thanks
Declan Murray
Debt Advisor
Debt Free Direct - the UK's largest IVA provider.
http://www.debtfreedirect.co.uk/iva/
 
 

Skippy

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Post by Skippy » Wed Sep 08, 2010 12:55 pm
I think it's a bit off to charge an account management fee and for cash withdrawals!

I would definitely recommend the Co-op if they aren't one your creditors.
 
 

kallis3

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Post by kallis3 » Wed Sep 08, 2010 1:36 pm
I think it's bad to charge for that as well, especially as you are paying a monthly fee for the account.

Could work out very expensive!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
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