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mumofthree
- Posts: 206
- Joined: Mon Feb 15, 2010 11:11 am
- Location: United Kingdom
I have a basic account with Lloyds TSB which I try "save" bits and pieces in for emergencies. I have read somewhere on here that Halifax is part of Lloyds TSB. One of my creditors (credit card and overdraft) is the Halifax. Will this affect my account with Lloyds TSB. Will the Halifax even know about the Lloyds TSB account. I opened it prior to my IVA.
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Diddy
- Posts: 74
- Joined: Tue Dec 01, 2009 8:53 am
- Location:
Hi mumofthree. Your right Halifax (HBOS) is now part of the lloydstsb group. I think they are still run as seperate entities, and now that your IVA has been approved there should be no risk to the money in it although there is the possibility that Lloyds may close the account just because your in an IVA. To be on the safe side I would look to open a basic bank account with a bank that's known to be "IVA friendly". Co-Op, Natwest and Yorkshire bank come highly recomended.
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mumofthree
- Posts: 206
- Joined: Mon Feb 15, 2010 11:11 am
- Location: United Kingdom
Thanks Diddy. I have a NatWest Step account but that is just for direct debits. But I have sent away for a paypal prepaid card. So will but emergency money in there. Probably best thing to do.
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Diddy
- Posts: 74
- Joined: Tue Dec 01, 2009 8:53 am
- Location:
Another option is to get an instant access savings account, you won't get rich on the interest, but it means you have instant access to your emergency fund.
I have the step account and an E-saver account linked to it. I don't think they credit check, but I didn't have any problems. Down side is it's only managable via telephone banking or the Internet, but plus side is I can transfer money across in 30 seconds flatbif I need to.
I do also have an O2 prepaid card as well, but so far havnt used it.
