Co-Op bank

[On the mend]

I know it's a minor thing but I once again have a normal bank account thanks to the Co-Op.
Even though my IVA finishes February next year they have accepted me for a cashminder account which comes with a Visa debit card. Throughout the whole process the Co-Op have been superb, if only all banks were so accepting of IVA people!
No more pre paid card, monthly fee and being charged at EVERY cashpoint.
Never understood why DFD recommended card one banking when there are free accounts out there.
Feels like one more step back to normality!

[martinw]

I'm guessing they recommend for 1 or more of the following reasons

- They are related/get commission
- No rejection
- No linked creditors (they don't have to have a list tool, which says if you have creditors a,b and c bank y is safe)
- No chance of overdraft causing later issues

Martin

[martinw]

and the account almost certainly won't get closed as a result of policy change, or 2 strike rules etc

I dare say having the account closed midway causes a lot of grief for both debtor and DFD

Martin

[MelanieGiles]

Great feedback for the Co-op - let's hope they continue to support indebted customers for a long time yet.

[martinw]

Hopefully they'll find a way of making us less solvent people profitable customers, without charging us monthly fees

Martin

[plasticdaft]

I'll be jumping ship from the co op as soon as my insolvency drops off the radar (may), simply because they no longer have a monthly fee account with decent benefits. The nationwide with mobile insurance and breakdown cover is where I'll be heading.

thanks co op.

paul