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Posted: Sat May 24, 2014 5:03 pm
by ruetheday
With my IVA coming to an end I am interested in moving my current account from Secure Trust Bank (who were recommended by my IP when I started my IVA) to a normal current account. I am paying £12 a month for an account that has been great during my IVA but from which I receive few benefits for the monthly fee. I have had a look at comparison sites and some banks will not even let you apply if you have an IVA. Does anyone know a good bank that accepts us IVA payers? I will soon have a lot more money to bank - surely someone wants it...?
Posted: Sat May 24, 2014 5:47 pm
by SUC
What can I expect from my Bank (NatWest) once I enter an IVA?
Posted: Sat May 24, 2014 6:28 pm
by Shining
I'm thinking you whilst the IVA is on your credit file it may need to be a basic account but you can still have a high street account.
I had a high street NatWest account throughout my IVA. Still have the blue card though and would like the purple one as I'm still with them and hoping when it expires hoping to upgrade.
Lots of paying accounts out there with benefits too.
Posted: Sat May 24, 2014 7:24 pm
by Little miss trouble
My Iva was on my credit file when I applied to Barclays . I was upfront and honest. They gave me a current account. No overdraft which I wanted and a debit card. No fee. Go for it as long as they are not a creditor x
Posted: Sun May 25, 2014 10:30 am
by ruetheday
Thanks for the replies - I will check out barclays
Posted: Sun May 25, 2014 3:18 pm
by MerlinL14
Please let us know how it goes with Barclay's as I too am entering the twilight of my IVA and wish to get a high street account. I am also with Secure Trust at the moment.
Posted: Sun May 25, 2014 5:15 pm
by ruetheday
will do Merlin
i think secure Trust has been great for me as i can't overspend or be charged for failed direct debits etc. but for £12 a month other people are getting breakdown cover and travel insurance and other benefits...
Posted: Sun May 25, 2014 5:22 pm
by Shining
Hope you both get your high street banks with added benefits if that's the account you choose.
Posted: Sun May 25, 2014 8:00 pm
by MerlinL14
Thanks ruetheday. Yes, Secure Trust account has been fantastic but you are right the £12.50 a month is just not going to work once I am out of my IVA, I would also like to have just a Visa debit card rather than the prepaid MasterCard. I only hope any high street account I get has the same great online facilities Secure Trust have.
Posted: Tue May 27, 2014 2:44 pm
by Rickne
Just to add to this that my Natwest select account I took out just before my IVA started has just been downgraded to basic. This however has little affect on me as it isnt as restricting as it sounds.
Posted: Mon Jun 09, 2014 5:17 pm
by MerlinL14
I got a letter from Barclays today. They have accepted my application for a "cash card" account. Debit card, no overdraft no cheque book. Online and telephone banking.
Posted: Mon Jun 09, 2014 5:40 pm
by Ruthlyn
Nat West basic is fine - just have to remember that you can't use the debit card at pay at pump petrol stations or any other cashpoint other than NatWest or RBS
Posted: Thu Jun 19, 2014 7:52 pm
by MerlinL14
All swapped over to Barclays bar a few things that secure trust don't allow using the banking switch procedure. They allow the switch over of all DD and standing orders, however you have to manually transfer any money left in you account and then phone Secure Trust to close the account. Anyway, I now have a high street account with a debit card
Posted: Thu Jun 19, 2014 8:04 pm
by seagulls
Enjoy !!
Posted: Fri Jun 20, 2014 8:03 pm
by Little miss trouble
Fantastic news. I bet you feel really proud. I know I did. You can even get a photo on yr card x