Doh! Was going to open one soon before I go BR. Better check Barclays out! That said, I currently bank with NatWest, and they are not a creditor, I have a regular account with them but no overdraft or anything. Was going to risk it but I understand the OR may just close it down or NatWest will when they hear of my BR.
i with the co-op hopefully ill be ok i was with santander but they were a creditor then went with HSBC who sent me a nasty account closed letter last week,i generally think the co-op is the best bank ive ever been with
I pooed myself then!. I thought I was going to have to go get my money. I could actually do without a bank account and just get my money put into cashable things. Hmm I need to think about this. I know existing customers are OK they say but i still wouldn't trust them to just pull the plug on existing accountys.
I still havea n account with Barclays but it's £0 because they remove online banking because (apparently you can apply for £250 OD through it) But even though I've never had such option they removed it. Kinda pointless!
Not good - I think it's a total disgrace that they're doing this.
Personally I think what is more of a disgrace is that apart from Barclays none of the other high street banks offer accounts to bankrupts. And this is despite the taxpayer throwing in massive amounts of money to support THEIR reckless decisions particularly RBS and HBOS (as was).
I rather think this is the slippery slope towards the ending of all basic bank accounts. The banks don't really like them as they're making no money from them.
I have had a basic bank account with the co-op since my bankruptcy in early 2009. I would love them to give me a normal current account now I have been discharged since 2010 but I don't think they would entertain it until the bankruptcy falls off my credit record in 2015. To say they don't make money on basic accounts is slightly wrong as I have been charged £15 on numerous occasions because direct debits have gone out when there has not been enough money in my account to cover them. They have threatened me with cancelling my account but as yet, they haven't done so.
I have had a basic bank account with the co-op since my bankruptcy in early 2009. I would love them to give me a normal current account now I have been discharged since 2010 but I don't think they would entertain it until the bankruptcy falls off my credit record in 2015. To say they don't make money on basic accounts is slightly wrong as I have been charged £15 on numerous occasions because direct debits have gone out when there has not been enough money in my account to cover them. They have threatened me with cancelling my account but as yet, they haven't done so.
xmas baby
I dont see why they wouldnt you've been debt free for years I think they would like that. Worth a try!
I am not sure I should stay with co-op? After all they are only accomodating existing customers because they have to -= as soon as they find that loophole im sure they will chop us.
I do miss my Barclays online banking as it was instant. This waiting 3 days for it to updat on co-op is annoying (even at the cashpoint now)
I had natwest open and close down a proper top rate current account when they found out I owed oney to RBS, I had no idea they were linked.
I've been looking all night for someone new and I found cashplus. It's that pre paid card thing but they also do various things like free dd's and standing orders, internet banking and one off payments. They give you a mastercard and they also have a credit builder system which seems to get high reviews.
They also have a facility where you can basically get £1000 overdraft if you need it and if you can't meet bills they pay them. they are on 700% APR so not sure that's a good idea BUT as a BR can we apply for that?
I know the rules are you can't have more than £500 credit without saying your BR> but they dont credit check.. I rang them , they said it was okay but would the OR allow that?
If not ill be getting all my benefits either via cash from the council office machines or by giro at this rate. :(
Edited by - pcoventry on 19 September 2012 13:52:51
The £1000 overdraft thing is a loan so not sure if the OR would allow it but it is ooptional as is the credit builder which is pointless taking till after BR is over or is that wrong?
I'll rephrase it then - they don't make a lot of money from you, no overdraft charges, and, provided you stay in credit they make nothing else. I've never paid any charges on my Nationwide account since I had it.
Personally, I wouldn't touch a paid for account unless I absolutely had no other option and I'm afraid at 700% they could stick the overdraft option. Cost you a fortune if you can't pay it back.
As an undischarged bankrupt you may have problems but you'd need to check with the OR.
Benefits, pension etc can get paid into a post office account - that's where my hubby has his pension paid into.
Co-op stopping bank accounts for bankrupts.
Posted - 15 September 2012 : 10:20:08
