Natwest instant saver account?

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Mxlee8

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Joined: Sat Mar 09, 2019 10:16 pm

Post by Mxlee8 » Sat Mar 09, 2019 10:29 pm
Iva with swift insolvency

Hello quick question guys,

Currently in an iva just started ( approved 4th March 19)

Now I have all my money for direct debits standing order ect in my bank account, but any other money's that are left I withdraw all from the bank I goto the bank and withdraw anything alse in cash and distribute where needed? ( Should this be OK)

but the main question is I have opened a instant saver on my natwest account, but if I transfer directly from my current account to the saver I'm guessing on my 12 month review they will want to see the balance on the saver as they will see payments sent across from the current to saver on statements.

( Now I may be wrong but if I pay the money into the saver directly direct deposit by machine, or cashier this won't leave no trail from the current account to the saver, so there's no reason anyone should track this or no about? Am I right in thinking this?) and I believe instant saver doesn't report anything to credit agencies?

Thank you, sorry for long description.
Looking forward to reply
Lee 8)

Foggy

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Location: United Kingdom

Post by Foggy » Sun Mar 10, 2019 8:48 am
Hi Lee.

I sdid a similar thing to you with withdrawing cash and leaving the money to cover DD's etc in the account ........ later on I opened a second account to put this money in, once I had gathered the courage to use the debit card again.

As long as the money you are putting into the saver account is legitimate --- coming from modest savings on shopping etc. and your share of overtime and bonus payments the IP would have no interest in it anyway. There is always the Bank of Mattress !
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

Mxlee8

Posts: 18
Joined: Sat Mar 09, 2019 10:16 pm

Post by Mxlee8 » Sun Mar 10, 2019 10:02 am
Yea thanks for reply mate. Might just be easier to use bank of mattress for now. 👍👍

mumof3

Posts: 84
Joined: Thu Nov 30, 2017 2:35 pm

Post by mumof3 » Mon Mar 11, 2019 2:42 pm
I have one account which all direct debits come out of. I then transfer excess money in to another account and use my debit card as normal.

I do also have a savings account. I’ve been putting husbands over time in there but we do also have a bit of cash withdrawn just in case we need it.
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