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Micetro
Starting Member
6 Posts |
 Posted - 19 February 2011 : 22:42:40
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| once the BR has fully taken place will i be able to keep a bank account |
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debtinfo
forum expert
2826 Posts |
Posted - 19 February 2011 : 22:46:01
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Do you mean the one you have now or a new one
if it is the one you have, who do you bank with and what type of account is it, also in credit or overdrawn |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 20 February 2011 : 08:51:19
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If you have an account with either HSBC or First Direct then be aware that they are known to close accounts for people either in an IVA or bankrupt.
Buckle your seat belt Dorothy, 'cos Kansas is going bye bye.
Jan
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Widge
Junior Member
United Kingdom
118 Posts |
Posted - 20 February 2011 : 20:37:50
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| Hello, I'm new here too and would be interested in hearing any replies to this question. My current account is with HSBC and I have an appointment to see the manager tomorrow to discuss my options. |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 20 February 2011 : 21:25:46
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If you are bankrupt or looking at bankruptcy then you need to change to a bank other than HSBC. It does not matter if they are not a creditor, they trawl the insolvency register and will close the account.
Buckle your seat belt Dorothy, 'cos Kansas is going bye bye.
Jan
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 20 February 2011 : 21:34:07
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Jan is right, HSBC and First Direct aren't BR friendly even if they aren't a creditor.
I would recommend opening a Co-op Cashminder or Barclays basic account.
View my blog at http://skippy13.blogs.iva.co.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
Last IPA payment made on 28th June 2010 - it's over at last! |
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Housing
Senior Member
United Kingdom
1399 Posts |
Posted - 20 February 2011 : 23:36:16
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Hi
I suggest a Co-op Cashminder - the Bank is great (in my view). No, I do not have shares in it...
They are very BR friendly and have good insurance products too
Good luck, Richard
"There are no problems - only solutions" |
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Widge
Junior Member
United Kingdom
118 Posts |
Posted - 21 February 2011 : 16:10:38
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| Hi, I've just got back from my meeting with HSBC and they hve confirmed that my account WILL be closed once their HO received the notice. They did advise though, that opening a 'basic' bank ccount prior to being declared bankrupt may not be a solution, as that too may be routinely closed...any views on this? |
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glafy
forum expert
436 Posts |
Posted - 21 February 2011 : 16:23:15
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Hi Widge.
As Tracey has posted, a co-op cashminder account seems to be one of the better accounts to have during BR. I believe the Barclays Basic Account is an option too.
We had no problem opening a co-op basic account just prior to BR and the OR was happy for us to keep this strictly monitored account open throught out all of our BR process. We were able to set up DD's & SO's and arrange for our wages to be paid in before we applied for BR.
Good Luck.
"Good things come to those who wait".....I'm a patient person but this is taking the Mickey!! |
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Widge
Junior Member
United Kingdom
118 Posts |
Posted - 21 February 2011 : 16:58:43
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| Thanks, I've now done a bit of research and it seems I have three main options: Co-op, Barclays and Think Banking. I see the Co-op as being the best as it offers internet banking and a debit card...I think I shall apply now as my Court date has now been confirmed as next Wednesday 2nd March! |
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glafy
forum expert
436 Posts |
Posted - 21 February 2011 : 17:03:06
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Well done Widge in getting things organised.
Good Luck with the court date.
Let us know how things go.
"Good things come to those who wait".....I'm a patient person but this is taking the Mickey!! |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 21 February 2011 : 18:52:29
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Out of the three accounts personally I would go with the Co-op. My only complaint is that the internet banking doesn't update immediately, but I managed with a spreadsheet.
I don't think Barclays allow an undischarged BR to have internet banking, although you can have a debit card which is strange!
I would leave Think Banking (or other paid accounts) as a last resort if you can't get a free account.
Good luck!
View my blog at http://skippy13.blogs.iva.co.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
Last IPA payment made on 28th June 2010 - it's over at last! |
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Widge
Junior Member
United Kingdom
118 Posts |
Posted - 22 February 2011 : 11:17:19
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Hi Guys,
Thanks all for your advice. I've just opened a Co-op Cashminder account. I started by saying that I was about to declare bankruptcy and would like to open a Cashminder account with them. They were absolutely fine and I have now been accepted.
Now I just need to wait for the account pack to arrive and I will then transfer all my money and direct debits etc over from HSBC. So go ahead, HSBC, close my flippin' account!!!
Widge |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 22 February 2011 : 11:47:06
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HSBC are a nightmare! They were one of my main creditors.
Well done on the Co-op account, they come highly recommended.
Buckle your seat belt Dorothy, 'cos Kansas is going bye bye.
Jan
xx |
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Topic |
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Will I be able to keep bank account ?
