| T O P I C R E V I E W |
| Hengus |
Posted - 17 February 2011 : 21:04:47
I've settled on getting a Co-op Cashminder account for my post BR status. BUT, I'm hearing (and reading) completely contradictory advice as to whether to apply for the account before or after BR?
Anyone able to give me chapter and verse on the best way of opening the account so it doesn't cause any problems?
Many thanks. |
| 9 L A T E S T R E P L I E S (Newest First) |
| feeblebob |
Posted - 21 February 2011 : 13:52:09
My other half and I opened the simplest HSBC accounts before bankruptcy, let them know etc. No problem. Went bankrupt and HSBC closed mine leaving me without. Didn't close my other half's though. Not sure why it worked out like this.
For info, I now have a Think Banking account and it's very good, small charge each month for it is the only downside, but have Mastercard debit card and online banking, and there were no issues opening it. Worth looking at if you're struggling to find an account or get accepted. |
| Hengus |
Posted - 18 February 2011 : 20:58:30
quote:
Originally posted by Housing
Hi Hengus,
One thing, you have three strikes and you are out with the Co-op... You need to manage the account very well or they will become nasty and close the a/c.
"There are no problems - only solutions"
Thanks for all the advice chaps...I will definitely go ahead and open this pronto (and manage it perfectly!) |
| emm |
Posted - 18 February 2011 : 19:12:14
I opened my co-op cashminder account on the telephone. They asked me if I had ever been bankrupt and I told them I was going to be made bankrupt soon. There was no problems and I was accepted there and then on the phone, no hassles, and all the paperwork and card etc came through within about 10 days.
Also just as an aside I know someone else who decided they would open a cashminder account (not br, but just wanted a no frills account), when they phoned to open it they were directed to another co-op account because they were told the cashminder account is really only for people who are br or have other financial problems. |
| Housing |
Posted - 18 February 2011 : 18:06:16
Hi Hengus,
There, that was easy - The Co-op are great (in my view). They have no "baggage" with BR clients.
One thing, you have three strikes and you are out with the Co-op... You need to manage the account very well or they will become nasty and close the a/c.
They are, in my view the best around and they do good packages on motor and household insurances with instalment facilities too at good rates. They also pay out fast in the event of a claim.
Good luck on your journey...
Housing
"There are no problems - only solutions" |
| Bettelman |
Posted - 18 February 2011 : 09:46:02
We walked in to a Co-op branch and simply said " we'll be filling for bankruptcy next month and would like to open a cashminder account please" No strange reaction or comments and we were invited to take a seat and 15 minutes later we walked out with an up and running cashminder account.
We even listed it on the SOA and during the telephone interview explained to the OR that this is the account we are using at the moment and this was not a problem. The account was never frozen
They say live is one big party, only i�ve lost my invitation. |
| glafy |
Posted - 18 February 2011 : 06:58:18
Yep open the account before BR.
We told the co-op that we had some money issues and wanted an account that we had more control over. No problems with our branch, they were very helpful, but of course, it could be different at others.
We did not list the accounts on our BR paperwork just to avoid any potential freezing of the accounts by the OR. But we told the OR of them during our telephone interview & he had no problem with this.
"Good things come to those who wait".....I'm a patient person but this is taking the Mickey!! |
| magpie |
Posted - 18 February 2011 : 01:25:53
Hello, could you please let me know that if you open the cashminder account before bankruptcy, do you tell the co-op that you are going to go bankrupt shortly and this is why you are opening the account? I am due to go bankrupt on Monday and plan to open an account tomorrow. Many thanks. |
| glafy |
Posted - 17 February 2011 : 22:57:42
Completely agree with Richard.
We opened our co-op cashminder accounts 4 weeks before BR, arranged all our DD's to go out of these accounts, wages paid in etc and had no problems at all. The OR was aware of the nature of such accounts and did not freeze them.
Obviously we cannot say 100% that this will always be the case but it does seem to be the norm.
"Good things come to those who wait".....I'm a patient person but this is taking the Mickey!! |
| Richard P |
Posted - 17 February 2011 : 22:41:10
their is no chapter and verse as many options
I prefer to advise people to open a month - 6 weeks before then Direct debits wages etc can be sorted out.
No right or wrong
Richard |
