www.iva.co.uk

Like many others before me, I would like to open a savings account for unused allowances.
Is there a possibility that my application could be rejected because I am in an IVA?

Hi,

It may well depend which bank you are with. The Co-op won't open a savings account for you but you would be able to open up another cashminder.

We opened a second basic bank account for our savings from allowances - it was easier than opening a savings account !

I have a savings account with Yorkshire building society. Comes with cashcard and is on line as well. Additionally set one up with Norwich & Peterborough which is just internet based. One is my car fund the other the rainy day fund / fix & mend fund. Building societies are your best bet.

I am with co-op and when I opened my Cashminder account they also opened a SmartSaver account for me. There is 19p in it at the moment!! Haha.

I tried to open a co op isa and was refused!!

Boo hiss!!

Paul

I opened an E Saver account with Natwest which I try to put money in! It last for around a week then I take it out again - Only £10 in mine at the moment!

I've made sure I've opened all the accounts I need to before my IVA starts. Hopefully when it's all sorted out I won't need to open anymore accounts.

Lloyds are fine with us having savings accounts too x

Thanks everyone, all very useful.....

I have a co-op cashminder and managed to open a cash isa with them. I rang the to discuss the application and they advised that they would have to refer the application, it was approved and the paperwork was posted to me.

I opened a Santander cash ISA and had no trouble. Not that it ever gets much paid into it... never enough left over to actually save, but never the less, I was able to open the account with no restrictions. They also offered me a current account too!

I opened an ISA with the Co-op before the IVA was approved but if they had turned me down I would have just opened another cashminder account. Interest is zilch on most accounts anyway so makes little difference at present where the money is.

Barclays are ok as well, I opened an Everday Saver account last week took about 20 minutes in my local branch and you can have an ATM card as well.

Thanks everybody,