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l.a1
Junior Member
170 Posts |
 Posted - 02 July 2008 : 22:59:11
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I am trying to find a basic bank account as I am about to declare myself bankrupt. Having great difficulty.been turned down by Co-op and Nationwide, which I was told were the two banks that accept people in my situation
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 02 July 2008 : 23:02:10
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Hi
are you on the electoral register at the address provided? the only reason i am aware todate that they refuse is if they can't find you.
Plan B would be to get a Tuxedo pre pay mastercard and this could be used as a semi bank account until you get yourself on the register and re apply.
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
www.revivauk.com |
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kma
Junior Member
194 Posts |
Posted - 03 July 2008 : 01:29:45
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| Hi, try Think Banking, I got turned down by Nationwide and didn't even bother going to Co-op as they were one of my creditors. Someone suggested Think Banking in a posting and they gave me an account with a maestro card. Its actually a Royal Bank of Scotland acc, there is a monthly fee but its been great for us. |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 03 July 2008 : 08:56:43
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You can also try Barclays as they offer a basic bank account to people who are BR.
I would ask the Co-op why they turned you down as they are normally very good. Nationwide have stopped offering accounts to undischarged bankrupts.
I would leave Think Banking as a last resort - I was with them for a short while and the customer service was horrendous and they did nothing to justify their fees.
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/ |
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Porcorosso
Junior Member
United Kingdom
235 Posts |
Posted - 03 July 2008 : 10:07:06
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I cannot in any honesty recommend going within 1000 miles of barclays. But I am biased.
Not the best time to be self employed! |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 03 July 2008 : 12:13:40
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From an ethical point of view neither would I, but nor would I recommend paying £12.50 a month for a bank account if you don't have to.
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/ |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 04 July 2008 : 17:44:45
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Hi LA1 and welcome to the forum.
I would suggest you open the new bank account AFTER going BR as it's likely your new account will be frozen as well on publication of your BR.
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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pleasehelpme22
Junior Member
222 Posts |
Posted - 07 July 2008 : 13:11:36
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Hi
Before i went bankruipt and was looking into an IVA i tried to open a basic bank account as was turned down by co op and many other banks. The day i went BR i applied for a bank account with the co op again and was accepted. I know have a visa electron card etc
The co op were fine when i said i was BR although i still dont understand why i was turned down before BR
Tanya
Hope you have some luck finding a bank acc |
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hoi
Junior Member
171 Posts |
Posted - 08 July 2008 : 13:31:21
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| they probaly did a credit check,and found you had debts,but after BR it is ok |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 08 July 2008 : 14:52:31
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Hi Tanya,
The banks do vary their credit scoring pass marks over time which would explain this behaviour.
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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369
Junior Member
366 Posts |
Posted - 09 July 2008 : 15:29:18
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Hello, you should definately wait until you are bankrupt before opening up any other accounts, even if you have £0 in there they will freeze it.
I went bankrupt in Nov 07, and I opened up an Abbey Cash Card account. Now you cannot pay direct debits out of it, but direct debits can be paid into it. Or if your employers pay you by cheque you can pay this in. You get a card and can withdraw money from any cash point, however, this is all you can do. You cannot pay for things on your card.
Give them a try! But if you need to set up direct debits then dont bother. However, I just pay all my bills at the post office now - back to basics!
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zoe
Junior Member
329 Posts |
Posted - 09 July 2008 : 15:49:05
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Bank accounts are NOT automatically frozen as a result of any bankruptcy order - it is at your banks discretion!!!
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 09 July 2008 : 17:40:46
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Hi Zoe,
Whilst I agree that it is not automatic that accounts will be frozen, it is standard practice for nearly all banks to freeze accounts on publication of the BR in the London Gazette and Stubbs Gazette whilst they wait to hear from the OR.
The only real exception to this is by agreement with your bank prior to BR, but in 95%+ of cases, the accounts are frozen.
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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mst
Junior Member
254 Posts |
Posted - 10 July 2008 : 17:13:12
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| Can the Co-Op Cashminder Electron card be used to pay for everyday things like groceries etc or do you have to use cash all the time? If not does anybody have use of both the Co-Op and Tuxedo prepaid mastercard? It might seem ridiculous to most but I hate carrying around cash and would prefer some form of swicth facility with a very very low daily limit. |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 11 July 2008 : 10:58:37
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I've got the Co-op Visa ELectron and the Tuxedo Maestro card in case the Electron isn't accepted and this works well for me. I pay £4.95 a month for the Tuxedo card and I've had no problems with it.
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/ |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 11 July 2008 : 11:07:02
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Hi MST,
I have a basic account with Abbey and a pre-pay card as well. Works for me :)
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
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Topic |
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turned down by Co-op and Nationwide
