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SATAL
New Member
United Kingdom
50 Posts |
 Posted - 27 May 2013 : 15:42:24
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| I'm a discharged bankrupt and have a cashminder account with the co-op. There has been a lot in the news recently about the co-op being in trouble and I'm getting a little nervous about all my money (such as it is) being in there! How easy is it to open a bank account elsewhere? I haven't started cleaning up my credit file yet and although I plan to do this, I'd rather open an account sooner rather then later if poss, just to be on the safe side. |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 27 May 2013 : 16:23:09
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no easy answer for bank accounts as they seem to have different rules. now that you are discharged the best option is to go into the local branch of various banks and ask the question.
try to get them to make a decision based on the information you tell them.. discharged BR good history since court.. then ask them to give you answer without automatic credit check. dont want big foot steps over your credit file.
The UK banks have an insurance and Govt backed scheme that upto a certain amount you are protected (i think about 25K).
dont be too quick to run away from Co-op as they seem the most sensible and helpful to individuals facing BR (bank accounts, insurance, savings account etc
Good Luck Richard,
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 27 May 2013 : 16:51:58
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Hi,
I think you will be safe with the Co-op but you could also try Barclays as they are ok.
You could also consider a prepaid bank account if push comes to shove.
The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant
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SATAL
New Member
United Kingdom
50 Posts |
Posted - 27 May 2013 : 16:55:32
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Thanks for the reply. I'm not planning on closing the co-op account but would be happier if I had some money in a second account . I know there is protection, but who knows how long it would take to get any money back, and in the meantime my direct debits and standing orders for rent and bills still need to be paid!
I shall ask around various banks and see what they say. |
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pcoventry2
Junior Member
230 Posts |
Posted - 05 June 2013 : 14:57:17
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Sorry I know this post is late.
Go and have a chat with Barclays and take your discharge proof with you.
I have the co op running still but only for existing payments and a barclays account which my wages go in
Having a online banking system where it updates instantly is amazing. And even though I was an existing customer a few prior Barclays had no record of me so opened me a new one.
I was nearly put off but figuring I had nothing to lose I went to see them and was glad! |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 05 June 2013 : 16:38:22
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Both Co-op and Barclays are ok with BR.
The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant
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Widge
Junior Member
United Kingdom
118 Posts |
Posted - 24 June 2013 : 10:08:43
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| I have had a cashminder account with the Co-op throughout my bankruptcy and I was discharged over a year ago. Recently I applied for a savings account with the Co-op as I wanted to put some money aside to save for a holiday. The Co-op refused me because I was a discharged bankrupt!!! This scared me off applying for other savings accounts because of the inevitable marks on my credit file. Instead I have had to put the money into my boyfriends Halifax account. This seems silly as I am an existing customer and I've never had any problems with my cashminder account. I never pursued it further at the time :( |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 24 June 2013 : 10:55:59
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The Co-op are funny about savings accounts - nothing to stop you from opening up another cashminder though. They're usually quite good at doing that.
The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant
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pcoventry2
Junior Member
230 Posts |
Posted - 24 June 2013 : 19:44:35
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quote:
Originally posted by SATAL
I'm a discharged bankrupt and have a cashminder account with the co-op. There has been a lot in the news recently about the co-op being in trouble and I'm getting a little nervous about all my money (such as it is) being in there! How easy is it to open a bank account elsewhere? I haven't started cleaning up my credit file yet and although I plan to do this, I'd rather open an account sooner rather then later if poss, just to be on the safe side.
If your discharged Barclays will have no problems setting you up a cash card account. They even let you have one in BR but take away online banking and phone banking. |
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pcoventry2
Junior Member
230 Posts |
Posted - 24 June 2013 : 19:46:09
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quote:
Originally posted by Widge
I have had a cashminder account with the Co-op throughout my bankruptcy and I was discharged over a year ago. Recently I applied for a savings account with the Co-op as I wanted to put some money aside to save for a holiday. The Co-op refused me because I was a discharged bankrupt!!! This scared me off applying for other savings accounts because of the inevitable marks on my credit file. Instead I have had to put the money into my boyfriends Halifax account. This seems silly as I am an existing customer and I've never had any problems with my cashminder account. I never pursued it further at the time :(
They got a**y with me when I was discharged so I told them to shove it and went to Barclay's. I still keep my account open as some money gets paid in monthly and it's a green mark on my credit file. But I usually keep it empty the rest of the time. |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 24 June 2013 : 22:06:17
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They are usually ok if you are discharged, it's only those who aren't that have problems. Having said that, they have always been funny with savings accounts for both BR and IVA.
The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant
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pcoventry2
Junior Member
230 Posts |
Posted - 25 June 2013 : 13:03:08
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quote:
Originally posted by Niobe
They are usually ok if you are discharged, it's only those who aren't that have problems. Having said that, they have always been funny with savings accounts for both BR and IVA.
But this has always been my point. for me anyway they were NOT okay even after discharge! |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 25 June 2013 : 14:39:50
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They have always been funny with savings accounts/
The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant
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pcoventry2
Junior Member
230 Posts |
Posted - 29 June 2013 : 16:47:13
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| No one is talking about savings accounts. |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 29 June 2013 : 16:54:24
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Widge was refused a savings account with the Co-op as was stated in her post.
The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 30 June 2013 : 12:27:32
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The Co-op refused me a savings account after I was discharged but I appealed and they then allowed me to open one.
View my blog at http://skippy13.blogs.iva.co.uk/
The more I have to do with humans the more I think that the world would be a better place if it was run by animals.
Last IPA payment made on 28th June 2010 and I'm now looking forward to getting married in September 2012 - I'm proof that you can go BR and come out the other side. |
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I'm a little nervous because of talk about co-op being in trouble.
