www.iva.co.uk

I have been in My IVA since August. I received a phone call from my new bank informing me that they have been made aware that I have an iva and therefore give me a month's notice before they intend to close my account. When I asked why they said they don't have customers in iva's. It would have been helpful if I was adviced of this by my IP beforehand - they just told me to open another bank account. I am now searching for a new account with another bank - applications keep getting declined. Any ideas?

Most high street banks offer basic bank accounts specifically for people in either BR or an IVA. I have a Natwest Step account, but I know of many others.

Hi,

I have a barclays basic account as long as it is not a creditor you should be ok but i know that some banks are refusing IVA and BR people. The most banks will allow you in an IVA is a basic account the best would be to go to the bank in person and apply that way as it seem if you do it on line it will or most of the time reject you. Also i know i you can get an account with think banking but there is a monthly charge for this.



view my blog http://coco.blogs.iva.co.uk

I imagine that you are either banking with HSBC or First Direct?

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

Hi,
I opened up a basic account (cashminder) with the co-operative bank. It is for br, iva, etc. You get a visa electron card, paying in book etc, and you can pay cash into any post office, and use the card in the same way as a debit card, also has internet banking. I found them to be very friendly and helpful and the account was open within days of going into the branch. I haven't entered into an iva yet, but this account is for br etc, although they didn't ask directly it was obvious why I was opening the account and as I say they were very nice and made me feel at ease.
Best wishes
Mike

Hi JJs

Basically the Co Op is a good one and as Mike s says they are very open minded about IVA applicants. Just remember to ensure you have surplus when giving details of your income and expenditure!

I managed to get a Halifax easy cash account as well with Visa electron!

In addition for a credit card type card look to Mastercard cash plus and it only costs 4.99 but ius good value because you can use it to buy things you normally get with a credit card. Obviously this has to be front loaded!

Some people on here like Think banking and this is usually a lst resort.

Good Luck on your search!

i would recommend the Halifax Easycash basic account.. comes with a Visa Electron card and online banking. applied for it online after being in my IVA for just over a year and it went thru no problem

coco wrote:

The most banks will allow you in an IVA is a basic account

Hello Everyone.

I am preparing for an IVA and after reading this forum I went and opened new bank accounts.These accounts are with Lloyds TSB and The Co-operative Bank (both are not creditors). My worry is that these are current accounts (without overdraft facilities).Will I run into trouble?

Thanks for all your help

no i have got one with lloyds tsb

High hopes & skint pockets!!

I have my bank account with Lloyd's TSB,both my husband and I were able to get Current accounts without an overdraft facility as he had just started working for them and they overrule the credit check, but before that we tried a basic account with Natwest and they were really arsey and refused us!! Their loss!

Hi Melenie - your absolutely right. I am banking with first direct. They were alright before this, I'm really in a panic because they are giving me a month's notice and I still haven't got a new account as yet. I wish my IP would have advised me of this beforehand. I didn't even know that I would have to open a basic bank account. I have put in an application for a cashminder account with the Co-operative bank. Fingers cross - Lloyds and RBS both turned me down. Hopefully I will get sorted with one.

MelanieGiles wrote:

I imagine that you are either banking with HSBC or First Direct?

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

Thank-you all for your recommendations - I will also try the Halifax and see what comes out of my application.

zarron wrote:

i would recommend the Halifax Easycash basic account.. comes with a Visa Electron card and online banking. applied for it online after being in my IVA for just over a year and it went thru no problem

Hi jjs
the only other option is thinkbanking they do charge 12.50 a month for the account, but is a great account. You will definately be accepted as the account is designed for those with money probs, maestro card with the account too.. Can be opened over the phone in a few mins account no given at same time. They are part of Rbos but that does not matter, they were a creditor of mine, no mcredit checks. Check it out.
www.thinkbanking.co.uk

Ang

Please visit my blog at http://aguise.blogs.iva.co.uk/

im with yorkshire bank & also have halifax but the yorkshire bank account is much better i think.
They wont charge you a non paid direct debit fee,if you get the direct debit amount in by 2.30 that day. Cheques clear in 4 days.
Halifax its 7!Plus they like dishing out bank charges!!!