I am just at the stage where I am trying to open my "non creditors" bank account just before I go into my IVA.
Although I have a lot of unsecured debt I have never missed a payment for anything even though I have usually had to rob Peter to pay Paul!
Worryingly I have now been turned down by the Co-op, Nationwide and the Halifax for their basic accounts and am struggling as to where I should turn to next.
Try Secure Trust or Clear Cash accounts. There is no credit check, only a check that you are on the electoral register so you do live where you say you do. Each of these accounts are fee paying, Secure Trust is 312.50 a month, I don't know about Clear Cash. With St you get a pre paid mastercard and you can not go overdrawn, there are no financial penalties for missing DD's either, although they will cancel it and you just have to set it up again with the vendor.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues
Halifax are part of a group of banks, Lloyds & bank of Scotland (not sure if there are more in the group), so if you had any debts with the banks linked then this could be why. There are topics on the forum where Lloyds are intending on closing accounts of customers currently in IVAs.
I'm not a 100% sure on Natwest but I'm surprised at the Co-op, did you apply for the basic cash minder account?
Final IVA payment made in April 2013, never ever thought we could do it or get through it but we did! X
An IVA.co.uk Mentor is someone sharing from their experiences of dealing with debt
"Our Cashminder account is designed to provide basic banking facilities and is normally most suitable for customers who are not eligible for one of our other accounts or who may have had financial difficulties.
Please note, we do not accept applications from undischarged bankrupts."
Just read the above on the co op website, we have had posters get a co op basic account during a IVA.
The pre paid accounts are also a good idea as mentioned above & we have a representive from clearcash on the forum.
Last edited by MrsKnight on Mon Jan 28, 2013 1:09 pm, edited 1 time in total.
Final IVA payment made in April 2013, never ever thought we could do it or get through it but we did! X
An IVA.co.uk Mentor is someone sharing from their experiences of dealing with debt
Co op have stopped opening the basic cash minder account over the phone, as we don't have a branch I phoned up & they are now sending application packs out.
Final IVA payment made in April 2013, never ever thought we could do it or get through it but we did! X
An IVA.co.uk Mentor is someone sharing from their experiences of dealing with debt
I've just been reading another thread & a poster had mentioned Natwest closing accounts of those in or entering a IVA.
I have a basic Yorkshire Bank account & Im very happy with it, only reason i have this one as we opened it along with lloyds so i had a account for my housekeeping, you do need to call into a branch to open one.
Final IVA payment made in April 2013, never ever thought we could do it or get through it but we did! X
An IVA.co.uk Mentor is someone sharing from their experiences of dealing with debt
My apologies it's been some years since I opened my basic account with Yorkshire Bank, you can apply in the branch or over the phone, check their website for the readycash account.
Final IVA payment made in April 2013, never ever thought we could do it or get through it but we did! X
An IVA.co.uk Mentor is someone sharing from their experiences of dealing with debt
we recently opened our account pre IVA with Yorkshire bank we asked for a basic account but they do a credit check even on basic account luckily we were ok as it was before we missed our 1st payments - we now have a full current account with them less the OD/cheque book.. hope we will be ok with them once our IVA is in place.
Inter-locking IVA approved 25th Feb 2013 - F&F offer Accepted 06th July 2017 - Completion Certificate received 20th July 2017
I too have a Yorkshire Bank Readycash account.
I opened it before I stopped paying my creditors (three years ago) and had to go in branch where they did a full credit check on me.
I`ve been very happy with the account, the online banking is very good with real time transaction authorisations showing instantly so you know exactly how much you`ve got in your account all the time.
I have read recently that the Australian Bank owners of Clydesdale and Yorkshire Bank are reconsidering their strategy for the UK, so I hope they don`t go down the road of lloyds, HSBC, etc... and start dumping those of us in IVA`s
"When the seagulls follow the trawler, it is because they think sardines will be thrown into the sea".
did you apply for a cash card account or flex account with the nationwide? Also I read if you have any other account with nationwide you cannot have a cash card account.
I have a cash card account with nationwide and thre're aware of my IVA (although it has finished now) But found them to be a star throughout my IVA
You can open a ClearCash account easily if you cannot source free banking anywhere, or your own bank pulls the plug on you at some time in the future. This account is easy to open, requires no credit checking and you will not be declined. The downside is that there is a monthly charge.
Your credit report will show what current accounts and credit cards etc. etc. you have. It is no surprise that a potential bank carrying out a credit check will wonder why you want to open a basic account when you have an active current account.
Whilst I am willing to give Sam the benifit of the doubt, I am uneasy on forum experts actively promoting his product given that his sister/parent/farther company is one that is potentially alerting banks that people are in an IVA through their PPI investigations.
I acknowledge that through the insolvency register that this is public information, but if a PPI claim is sucsesful then it will become apparent that an individual is or at least was in an IVA.
7 years after starting an IVA I finally received a completion certificate from ClearDebt
