ginger3232 wrote:
gbenno - at this stage there is no reason not to apply for a full account(cheques etc) -if you need it, do it at this stage. rather than leave it - you DONT HAVE TO HAVE a basic account. As long as there is no overdraft
The application said the account will come with a debit card and chequebook (not that I've used a chequebook in years).
I requested no overdraft.
It said I'd been successful in my application and they'll be sending the details out in the post in the next few days.
At present I'd still be considered 'good' as far as my credit score goes (last month was the first time I'd missed a payment in years, and I've made payment to cover the arrears already). What I need is an account ready to go as and when I need to move my salary and DDs if and when I go down the IVA route which isn't yet a certainty.
Last edited by gbenno on Tue May 03, 2011 5:43 pm, edited 1 time in total.
Nationwide refused me a full account when my credit rating was excellent! I went to Barclays and got one with a credit card an hour later.
You've been lucky if you have a full account.
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 an account with Co-Op before I stopped paying everyone. I also have an account with Yorkshire Bank who are not one of my creditors - I was using this account as my Contingency Fund account, but have heard conflicting things about YB with regards to customers in IVA's so have now opened a savings account with Co-Op and will use that instead.
I've sent off all my paperwork and am now waiting for my proposal...It's been a long 4 weeks or so, but have found lots of helpful tips and advice here on the forum - and I know exactly what you mean about feeling like you're just about to step off the cliff edge!!
It's nice to be important, but more important to be nice!
ive had no probs with the yorkshire bank and have a full account with no overdraft facility.
i have my standing order go out to payplan every month so they must have cottoned on to my iva by now.
teetersonheals what have you heard about yorkshire bank?
they have always been good about iva's in the past
my wife has the cashminder account even tho her iva ended beggining of last year
cc received 6th January 2014 now upwards and onwards
my savings account is with Yorkshire Building Society (not bank) and all is going well. Took 5 minutes to open online, given account number there and then .. ATM card arrived 2 days later.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
My standing order goes to RBS and I'm with Payplan so don't know whether or not Nationwide would have cottoned on to it.
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
ginger3232 wrote:
be careful that your Creditors are NOT part of a big Group(ie LLoyds /halifax/BofS).
I had a loan / credit card with Halifax which was included in my IVA and a full bank account with Lloyds TSB. This did not prove to be a problem, and quite happy with Lloyds who have looked after me whilst I've been in my IVA.
They are now going to be getting my business in future as I will be sticking with them.
We're willing to wipe the slate clean, give you a fresh start. All that we're asking in return is your cooperation.
Back On Track - read on another forum that a Yorkshire Bank account had been closed when they found out about an iva. Suppose using Co-Op gives me a bit more peace of mind (and God knows I'm a worrier..), as they seem to be IVA friendly.
gbenno - I think the cashminder needs a trip to the bank. On the internet site, you want the account on the far right of the screen - when you go through to apply it says if you want an overdraft you have to phone up..I just applied without phoning, got an account with a debit card and no overdraft.
It's nice to be important, but more important to be nice!
I applied for the cashminder account with the Co-op - can't be done on-line, you have to ring. I was upfront as to why I wanted this account and all set up fine. The only downside to the Co-op is there is no branch nearby for me but you can pay into the account via the post office
The bottom line is that I'm not looking for any line of credit or overdraft from a new bank account - I just want to ensure that should it all kick off, my bank don't decide to pilfer my account in order to settle an internal debt against my wishes and/or agreement.
Heck, even if it's a cash-card I'll work around it. One can purchase pre-pay credit cards for online or phone purchases etc. Ironically though a cash-card actually probably works against you as in order to spend, say, £6.50 in cash, you MUST withdraw £10. It's easy for that remaining £3.50 to 'disappear'. I guess I'd just have to be regimented.
Oh, another thing that's helped enormously was stopping smoking at the beginning of the year. I've been smoke-free for 123 days now, and saved over £400 which would, previously, have been literally 'up in smoke'...!
TheMatrix: Apparently despite being 'linked' Lloyds TSB and HBOS are still technically two different entities.
Quick question; do applications for bank accounts show on credit reports?
Last edited by gbenno on Tue May 03, 2011 7:20 pm, edited 1 time in total.
Even if you get a basic account with Nationwide or Co-op it comes with a debit card now.
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
not seen any adverse posts about yorkshire bank yet'thats why i was asking.
i cant see any bank should have a problem with people having a bank account with them(provided they are not a creditor)as if theres no overdraft facility how can they lose out'apart from dd not being honoured.
in fact we prob the best and most savy people when it comes to money now that they will get.
as i have said before theres nowt so queer as bankers(not meaning that they are all gay[:)])
cc received 6th January 2014 now upwards and onwards
