Narrative on DD payment for an IVA

[love hope and strength]

I am currently awaiting my draft proposal and I have managed to open a full Flexaccount with Nationwide but have not taken the overdraft.

I was wondering if my IVA does get accepted will the dd payment alert Nationwide that I have entered into an IVA. By this I mean will it be obvious by who the payment is going to?

[winter_blues]

Hi and welcome to the forum. It depends on your IVA company but unlikely that Nationwide will ever know but even if they do find out ( I know people who have told them and they are fine to accept current accounts with IVA's) - Nationwide are not one of the banks that will automatically shut your account down. HSBC and First Direct will.

Hope all goes well and keep us updated.

[love hope and strength]

Thanks winter_blues. I was worried that Nationwide would close my account and I have just been approved for a Co-op cashmnder, thought I should have a back up just in case!

[kallis3]

I have a flex account with Nationwide which was opened pre IVA and we have no problem with it so far. My IVA payments are standing orders to RBS so I doubt they have a clue what it is for.