www.iva.co.uk

What are your thoughts on the following for possible accounts ahead of potential IVA?

Smile Current Account
Norwich & Peterborough Gold Light
Barclays Visa Debit Cashcard Account

I will really need an account that I can use to set up standing orders online with "4-Weekly" payment frequencies. I know there are some banks and building societies that don't have this payment frequency option, even some really big banks.

Thanks,
John

Try Nationwide or the Co-op as well.

Don't touch HSBC or First Direct as they will close your account if you enter into an IVA.

Hi - I am just in the process of trying to set up an IVA I opened a Natwest account online and 2 accounts with Yorkshire Bank which I have just set up 4 weekly standing orders online.

Just found out the other day about Reliance Bank - they are an ethical christian organisation connected to the Salvation Army apparently - and offer an account with debit card and direct debits/standing orders. Not sure of their stance regarding IVAs but nothing in terms and conditions about this so it might be worth giving them a go if you fancy getting away from the traditional banks. They offer the facility to pay in at several banks on the high street including Natwest and RBS I think.

Hi John,

Smile should be OK - they are part of CoOp who are IVAS friendly.

If you want anything other than a 'basic' account, you are quite right to get it sorted now.

Concur with Niobe - speaking from bitter experience with First Direct closing my account. Avoid HSBC like the plague. Lloyds group are best avoided as well as they are rumored to be withdrawing support for IVA customers.

I've had a Smile account throughout the duration of my IVA and it's been fine. I only ever transferred money into it when I wanted to write a cheque but never a problem.

My husband and I have been with Thinkmoney for the duration of our ivas and can't speak highly enough of them. All the facilities that we needed and always helpful and courteous. We are sticking with them even after the iva.

I have been with Secure Trust since my IVA started and like wiggle1 I have no intentions of trying to get a high street account once it is all over. They have everything a HS bank can offer except an overdraft facility.

Martin Lewis has just been on This Morning talking about bank accounts & people whom don't have accounts or bad credit. He recommended the Co Op Cash minder account & Barclays Cashcard account, both don't do credit checks but you need ID.

My OH has just switched to the Barclays cashminder account from the Co-op as the online facilities with the Coop are poor - the available balance is never updated "real time" and she never knew exactly how much money she had from one day to the next. Barclays is much better for online banking - you spend a fiver in the shop, and it is deducted from your available balance immediately - not days later as with the coop.

We have had our main account with Smile since 2007 and had no issues with it.

Got to agree with UpToMyNeck. I used to be with Barclays, and their online banking is real time, CoOp's is relatively poor. Can live with it though, as Barclays are one of my Creditors.

Only downside with my Secure Trust Account is that you cannot make a 'faster Payment' into another account - seems to be BACS only. Again, minor niggle though.

Barclays basic account is good, Haven't had any problems with them and their online banking is really easy to use and fast when making payments, very secure as well.

oh and you get to personalise your debit card, not that useful but I found it highly amusing receiving a (not allowed) image printed on my bank card. How it slipped through the net I don't know!

Oh CeeBJay the 'not allowed' image on your bank card just made me laugh and now I'm intrigued!

It's a photograph of my family and me at a party and one of my cousins is in the background doing a silly face and showing off an unfortunate hand gesture. It's awesome! [:D]