www.iva.co.uk

Hi,
I opened a Natwest current account at the start of the IVA process - it's not the Step account but an ordinary current account. I requested no overdraft or chequebook and my wage has been paid into the account. Should I have requested the Step account? my creditors meeting is tomorrow and I'm worried Natwest may close my account.

I doubt that it will matter what sort of account you have as long as there is no overdraft facility. An ordinary current account is fine in an IVA. If the bank are willing to allow you the account then there should not be a problem.
There is no reason why you cant have a cheque book though, it is always useful to have.

I have a current account with Lloyds TSB, I just requested no overdraft at the outset and had no problems being accepted into an IVA with this type of account.

However, just ensure that Nat West are not linked directly to any of your creditors.

I do not know if Nat West will close the account, some banks do, but others dont. Hopefully you will be ok.
Speak directly with your IP if you are concerned.

Good luck with the creditors meeting!

Hi

Yorkshire bank has a good account. I have been with them for a few years in the IVA and had no problems at all.

Its called Readycash. The application process was painless. You get a proper Maestro card so its accepted everywhere. The only thing it doesn't do is guarantee a cheque. But nobody accepts them any more anyway !

The online banking is ok as well

As long as your bank are happy, then go with it. I've not heard of NatWest closing accounts, HSBC and First Direct do though.

Co-op are another one recommended on here.

I have a regular account with the Co-op and a Cashminder account (for my bills to go out of). Co-op had no problems with this nor did it effect my IVA. I also have a cheque book which is useful for some purchases.

we have had the STEP account since December and no problems at all, you set up txt alerts to let you know when your salary goes in etc and the visa debit card has been accepted every where so far, we have even had 12p interest since we opened it, at that rate I can soon retire

I have the natwest current account with no requested overdraft and so far the account is still running. I have been asked in once for a review but that was just to see if they could offer me any other products. Hope this helps. Graham

I'm with Natwest and can't fault them. You'll be fine with the full account so long as there is no overdraft.

I do have a cheque book as with a school aged child I find it vital x

Yeap, same here. I've had a full current account with NatWest for 3 and half years (since just before starting my IVA) and have never had a problem.