I already have an Iva in place over 2 years with no issues at all. I’ve just been informed my bank is closing so I need to switch accounts is that even possible with an Iva in place and are there certain banks more likely to accept me ?
You can try a Co-op Cashminder basic account, they are IVA friendly. Open on the phone or in branch. Don't approach HSBC or First Direct as they don't like IVA's.
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
Ask for a basic account -- you may as well be upfront about the IVA as they will discover it on a credit check anyway. I had accounts with Co-Op (Cashminder) during my IVA.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I think it's M&S that is closing, saw it on the news but people do still have until August to change.
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
I opened a basic account with nationwide whilst in a iva , the account is called “flex basic account “ it’s specifically for people with bad credit , bankruptcies etc , and I have also just opened a savings account with metro with no issues
Not sure if you can use it online or contactless - we had one of those.
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
Natwest Foundation account works good for us. We don't have a contact less debit card but can use Google Pay on phone which is even better cos it doesn't have a £45 limit.
The only down side is you can't use 'Pay at Pump' when at the petrol station. Can be difficult out of hours.
The Nationwide Flew Basic Account does have a contact less card and let you use Pay at Pump also.
Nationwide has changed since mine! I would be wary of using anything that does not have a limit contactless wise whilst in an IVA - too much temptation.
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
