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Melanie.n
forum expert
United Kingdom
1282 Posts |
 Posted - 23 February 2009 : 09:20:44
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Just thought I'd type out this new information I have received which may be of benefit to all those seeking bankuptcy as a solution and the need to open a new bank account.
Nationwide has re-branded their Cash Card account and it is no longer available to undischarged bankrupts. Currently only Barclays and the Co-operative bank offer basic bank accounts to undischarged bankrupts.
A full list of basic bank accounts and the criteria to open them can be found on the Financial Services Authority (FSA) webpage (www.moneymadeclear.gov.uk) and individuals are advised to look at this site prior to trying to open a new bank account once a bankruptcy order has been made and they are an 'undischarged bankrupt'
Hope this link helps those struggling to open a new bank account
Melanie Nicholas
28 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
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BenKrupt
Starting Member
5 Posts |
Posted - 24 February 2009 : 16:06:03
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Hi
I have had the Co-op Cashminder account since I was declared bankrupt in Dec 2007. I can highly recommend it. You get a Visa Electron card with chip and pin, and there are very few places which won't accept it. You can manage your account on the internet, and pay people by bank transfer, thus eliminating the need for a cheque book (which you WON'T get!). You can pay money in at a Post Office, and withdraw cash there too. I run two self-employed businesses, and if people want to pay by cheque, I just ask them to make it payable to me.
For the odd places which can't take the Electron card, I have a Cash Plus prepay credit card (Mastercard).
The Co-op account has been a real life saver! |
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kolobok
Starting Member
18 Posts |
Posted - 24 February 2009 : 16:52:36
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| Hi All. I've got a Cashminder, too, and it's fine. Cheques clear really fast, as well. How useful is the Electron card overseas, does anyone know? I've got friends in Cyprus and may manage to see them at some stage of my BR. Good Luck everyone |
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shirley
New Member
71 Posts |
Posted - 25 February 2009 : 07:37:58
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Hi Melanie
Sorry tried your link but unfortunatley it wouldn't work. i think the link below is the one you were talking about.
http://www.moneymadeclear.fsa.gov.uk/
One day at a time |
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Melanie.n
forum expert
United Kingdom
1282 Posts |
Posted - 25 February 2009 : 08:17:30
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thanks for the update Shirley
Melanie Nicholas
28 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
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pixiepet
Starting Member
United Kingdom
27 Posts |
Posted - 25 February 2009 : 09:14:51
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hi, i have had a basic acc with nationwide for 2 years, they did freeze for 24hrs till OR faxed them, will tyey want to close my account
mandy |
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Melanie.n
forum expert
United Kingdom
1282 Posts |
Posted - 25 February 2009 : 09:34:54
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I have not read anything to suggest they would close existing accounts, just that they will no longer be offering new accounts to undischarged bankrupts following the re-branding of their cash card acounts, therefore if you open an account prior to going bankrupt it would appear that you would be able to continue to use this account, but you would not be able to open a new account once you have been declared bankrupt
Melanie Nicholas
28 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
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pixiepet
Starting Member
United Kingdom
27 Posts |
Posted - 25 February 2009 : 09:52:09
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phew, thank you Melanie
mandy |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 25 February 2009 : 10:29:02
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They let me keep the basic account that I had while I was BR, and since I was discharged they have let me use my very old pre bankruptcy account, which is a full account.
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/
20 IPA payments made, 16 to go - on the home straight! |
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Basic Bn Account for Bankrupts
