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Niobe
Administrator
United Kingdom
4590 Posts |
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Viki.W
forum expert
United Kingdom
2211 Posts |
 Posted - 15 September 2012 : 13:07:30
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Crikey! That's awful. I recommend that account to all my clients.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 15 September 2012 : 13:11:06
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Not after September 17th Viki.
Existing customers will be fine and I assume that once you are discharged they will be happy to open an account.
I would think that if you can open one before you BR you'd be ok.
I wonder how long it will be before Barclays do the same? |
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 15 September 2012 : 15:50:50
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I always ask my clients to open the account before court so hopefully the Co-op will not close the account after the bankruptcy order has been made.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 15 September 2012 : 15:55:05
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It does say on the website that existing customers will be ok.
Let's hope they don't put a question on the application asking if you are shortly to be made bankrupt, that would put the cat amongst the pigeons! |
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MoneyFool
Starting Member
United Kingdom
13 Posts |
Posted - 15 September 2012 : 18:41:24
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| 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. |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 15 September 2012 : 19:01:47
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There is no reason why you can't try and open one before you go bankrupt - they can only say no.
The Barclays basic one isn't as good and you're not allowed online or telephone banking until you are discharged. |
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terry d
Starting Member
United Kingdom
18 Posts |
Posted - 17 September 2012 : 06:53:32
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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
BANKRUPT 1ST AUGUST 2012 |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 17 September 2012 : 08:11:26
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You should be ok as they are keeping existing accounts open, they're just not opening new ones.
Not surprised that HSBC did that though, they're well known for trawling the register and closing down accounts. |
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pcoventry
Junior Member
United Kingdom
235 Posts |
Posted - 18 September 2012 : 23:21:13
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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!
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Gary.3
Starting Member
11 Posts |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 19 September 2012 : 07:59:54
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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.
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xmas baby
Average Member
537 Posts |
Posted - 19 September 2012 : 11:56:13
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Hi there,
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 |
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pcoventry
Junior Member
United Kingdom
235 Posts |
Posted - 19 September 2012 : 13:42:53
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quote:
Originally posted by xmas baby
Hi there,
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 |
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pcoventry
Junior Member
United Kingdom
235 Posts |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 19 September 2012 : 15:00:32
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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. |
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Topic |
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Co-op stopping bank accounts for bankrupts.
