www.iva.co.uk

Posted: **Fri May 27, 2011 11:53 am**

One of my creditors is the bank where my salary is paid in, including standing orders, if I am to enter into IVA, is it wise to switch to another bank first? Which bank would you recommend? thanks!

Posted: **Fri May 27, 2011 11:59 am**

Yes, I'd say it's a good idea. The Co-op (if they're not one of your creditors obviously!) always come highly recommended on here - and I have their account and am happy with it. You can get the basic Cashminder account. Some banks, even if they're not a creditor, go through the insolvency register and will shut down your account if they see your name - I think HSBC is one that does that

Posted: **Fri May 27, 2011 12:13 pm**

Hi -- HSBC and First Direct are particularly IVA unfriendly. I have a Co-Op account and, although my old account is still open with my previous bank (with a tenner in)who were a creditor, when IVA is done I think I might stay with the Co-Op as the service I have had from them so far is very good and suits my new needs.

Posted: **Fri May 27, 2011 12:19 pm**

Have to agree with posters - I opened a cashminder account with the Co-op and have had no problems. Cashminder accounts can only be opened over the phone or in branch. I was totally honest with them re thinking of going into an IVA and they have been brill. If you want to open a savings account with them, do it before starting the IVA. I have just opened an ISA with them (I am pre-IVA) but I know some people have been turned down when they are already in an IVA.

Posted: **Fri May 27, 2011 12:31 pm**

Hi Mia
The Yorkshire Bank are also good, Maestro card and good internet banking

Posted: **Fri May 27, 2011 1:08 pm**

Hiya MIA, I opened an online account with nationwide before setting up iva, I have a visa debit card, I refused the overcoat, and they will if you wish swap all your direct debits over for you. I also have an esaver account too, no problems so far.

Posted: **Fri May 27, 2011 1:12 pm**

Nat West are also IVA friendly, I was upfront with them and have had no issues with them and can do all banking online

Posted: **Fri May 27, 2011 1:21 pm**

Hi - it is a great idea to switch banks. Make sure that the one you choose isn't connected to any of your creditors. I'm with Lloyds and have been very happy with them. Good luck xx

Posted: **Fri May 27, 2011 1:52 pm**

LOl you know i mean overdraft not overcoat, blumin predictive text.

Posted: **Fri May 27, 2011 5:02 pm**

tut, they never even mentioned a overcoat to me, haha!

we are with Co Op,opened it in branch.
we found it easy,no problems&account number arrived within the week.

Posted: **Fri May 27, 2011 5:11 pm**

Barclays also do a good basic bank account and are sympathetic to IVA.

Posted: **Fri May 27, 2011 5:13 pm**

I've opened up a standard current account with Co-op prior to my IVA kicking off. Again, no problems, you get a debit card, chequebook, and no overdraft!

Posted: **Fri May 27, 2011 5:24 pm**

If you do it pre IVA there isn't usually a problem with a full account. Afterwards though it will only be a basic one.

Posted: **Fri May 27, 2011 5:27 pm**

That's why I took the preemptive strike and got one sorted as soon as I knew I was going down this route. And the co-op were very good in terms of the direct debit transfers from my old bank. I would almost say it was seamless!!

Posted: **Fri May 27, 2011 5:54 pm**

The stupid thing is that I tried to get a new account with Nationwide pre iva and was only offered a cash card account - they told me it was because there was a problem with my credit rating. I even phoned Experian who said there wasn't!

We tried to upgrade in branch to no avail - went straight over the road to Barclays and got a full account agreed straight away complete with credit card!