Basic bank account

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Skippy

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Post by Skippy » Mon Nov 26, 2007 10:44 am
I don't think the Halifax will allow undischarged bankrupts to hold an account with them.

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UPINSMOKE

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Post by UPINSMOKE » Mon Nov 26, 2007 11:52 am
I opened a bank account with Alliance & Leicester before I went bankrupt and set up all my direct debits,but was told by the OR I needed to declare it in BR as it was opened before I went BR. I had to cut the card up and send it back. Not a good Idea as I had to go though it all again after BR it was a real pain to do it all again. So perhaps it would be wise to open an account after BR as a safeguard.

Alliance & Leicester were very understanding about it and allowed me to open another after BR. I also have an account with Thinkbanking this you can apply for on line, and you get a debit card with this account. But they do charge for it £25 set up and £12.50 per month. Hope this is of some help and good luck.
Last edited by UPINSMOKE on Mon Nov 26, 2007 11:54 am, edited 1 time in total.
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chris.g

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Post by chris.g » Mon Nov 26, 2007 3:57 pm
Went to co-op today and applied for their basic account, in joint names. The application was referred, something I half expected. Just a waiting game now. The girl was lovely and I explained about the pending bankruptcy and she said that the account was given to a lot of bankruptcees, but didn't want to build my hopes up too much she said she'd be in touch as soon as she knew anything. Was just wondering if anyone else had been referred and been accepted or declined?

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marsha1

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Post by marsha1 » Mon Nov 26, 2007 5:15 pm
I opened an account with co op pre IVA I have not had any probs with it. I opened a savings account with them as well so I had somewhere to put my contingency money etc. This was referred but a couple of days later I went on line and it had been set up.
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mish1953

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Post by mish1953 » Mon Nov 26, 2007 10:43 pm
Chris

Im BR and have a coop acount, I bbelieve the other recommended one is Think Banking - which is all online -but it costs a bit.

slainte
Mish

Will an automatic discharge hurt.
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wen

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Post by wen » Tue Nov 27, 2007 12:29 am
I was referred and then approved a couple of days later.
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chris.g

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Post by chris.g » Tue Nov 27, 2007 8:06 am
That's promising. I'm hoping that if we do get accepted the account will be unfrozen after we go bankrupt, as we owe that many different creditors our choices are very limited. Just out of curiousity, if we do need to go with an account that has a monthly fee, would that be classed as an acceptable expenditure by the OR or would we have to use the money from somewhere else in our budget?

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ray_a

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Post by ray_a » Tue Nov 27, 2007 9:04 am
Somtimes Co op like to look at income and expenditure figures and you must ensure thta your income exceeds expenditure!

I have heard some appliactions don't always show that and hence the rejection.

Some people like Think Banking and of course don't forget to apply for a cash plus Mastercard as well!!!!!
 
 

Skippy

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Post by Skippy » Tue Nov 27, 2007 10:09 am
As far as I am aware the only banks who will currently open an account for an undischarged bankrupt are the Co-op and Barclays.

Lloyds did allow me to keep the account I had prior to BR, but I'm not sure if they allow you to open one post BR. Alliance and Leicester have had mixed reviews on here - Fudge had problems with them but others have found them ok. Don't even bother trying HSBC - they will not allow you to open an account if you are BR, and they have a policy of closing the accounts of people in IVAs.

I would wait to see what the Co-op have to say - just because you have been referred doesn't mean that they won't let you open an account.

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Last edited by Skippy on Tue Nov 27, 2007 10:10 am, edited 1 time in total.
 
 

chris.g

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Post by chris.g » Tue Nov 27, 2007 12:44 pm
Just had word form the bank, we've been accepted..

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Skipper

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Post by Skipper » Tue Nov 27, 2007 2:51 pm
That's good. You can make payments in a PO branch and it goes in immediately. I made a credit at 5:15pm and it was in to spend! The Co-op hours are a bit shorter than PO hours.Only for cheque payments will you be better off going into the branch

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wen

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Post by wen » Tue Nov 27, 2007 3:50 pm
Excellent news Chris!
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Shining

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Post by Shining » Tue Nov 27, 2007 4:17 pm
Great news for you
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

ray_a

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Post by ray_a » Tue Nov 27, 2007 6:12 pm
Well done pleased for you but look at Cash plus as well so that you can still make similar credit card transactions but they are a front loaded credit card!
 
 

wen

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Post by wen » Tue Nov 27, 2007 11:49 pm
I've just applied for CashPlus as I know there will be times when I need to use a Credit Card, and it looks damn good too!!
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