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Which is the bet bank account?
Comments
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As far as I know they have not changed their rules. The issue is branch staff not knowing the rules, therefore opening the account with full facilities. What then happens is somewhere up the line either the computer or another staff member spots the error and the additional facilities are withdrawn without notice.
This has happened to several board members this year alone. I was offered the additional facilities but refused them rather than have them set up and then taken away again - I had to educate the branch personnel!When I joined, I needed a name. The forum members gave one to me...I am INAN
"Fortunes ebb and flow and a boat must move with the tide and be thankful that it floats." Judith Allnatt0 -
You are right INAN, Barclays have not changed their rules.:pB&SC No. 298
Life`s Tragedy is that we get OLD too soon
and WISE too late!0 -
SNAP - We posted at the same time!
They might have changed or about to change, as they are more real time than they were in the past. The issue in the past has been how they stopped people spending on the debit cards at the same time as sending money via bank transfers. Their systems were not entirely real time. In fact until quite recently you could only get a few months bank statements online with a full bank account.
I was able to get 12 months statements online with the HSBC and Nationwide and that was 2 years ago.:pB&SC No. 298
Life`s Tragedy is that we get OLD too soon
and WISE too late!0 -
I was able to get 12 months statements online with the HSBC and Nationwide and that was 2 years ago.
My comment was in relation to Barclays only, as that was the topic being commented on in that particular post.
You forgot to include the whole item which had Barclays in the bit missed.0 -
Ineedaname wrote: »Did you make Barclays aware you are going BR? Their account does not allow for internet or telephone banking until after discharge, so be prepared to lose those facilities quite quickly.
Yes both banks are fully aware and took a copy of the bankruptcy order also.
The account opening was dealt with by the branch manager I did double check about the facilities offered with Barclays too as I had read that somewhere before but I was assured that it has now changed and the debit card, internet banking and telephone facilities were all available to me as an undischarged bankrupt. I also checked this with another branch in the town I was made bankrupt and they confirmed that they could offer those facilities now.0 -
It is not uncommon for the branch not to know the real answer, even the branch manager. Banks have special departments which deal with insolvency and they will follow their rules irrespective of what the branch said. However look on the bright side, things might have changed with Barclays and everything might be fine.
For example HSBC branches often agree bank accounts for people with bad credit, and then just prior to the cards being sent out, central office do a few final checks and cancel the account.
One word of caution, make sure you have only day to day living monies in the account, and make sure you have cash in your hand, ie not in that new account when you actually go bankrupt. The reason is that it is almost certain the account will be frozen for a while. Providing there is not significant money in the this new account the receiver will tell the bank it has no interest and the bank will unfreeze it. Just beware of this or you might get caught out with no money for a short period.
Sometimes the accounts are actually closed, and you will have to open new ones. It is a bit random if this will hapen though.0 -
One word of caution, make sure you have only day to day living monies in the account, and make sure you have cash in your hand, ie not in that new account when you actually go bankrupt. The reason is that it is almost certain the account will be frozen for a while. Providing there is not significant money in the this new account the receiver will tell the bank it has no interest and the bank will unfreeze it. Just beware of this or you might get caught out with no money for a short period.
Sometimes the accounts are actually closed, and you will have to open new ones. It is a bit random if this will hapen though.
Thanks for the advice. I have, however, already been made bankrupt, the bank took a copy of the order today when I was there.0 -
i should point out for balance that co-op and barclays are not the only banks that will offer basic accounts to bankrupts but they are the ones that are very consistant in their approach and apply the same rules to all the customers that ask for an account whereas other banks either always deny accounts or are very hit and miss depending on who you speak to and so that is why we reccomend the co-op and barclays onesHi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.0 -
notsoninja wrote: »Thanks for the advice. I have, however, already been made bankrupt, the bank took a copy of the order today when I was there.
So you opened the accounts after you were made bankrupt?
To be honest it is often the safest thing to do, in that way process does not get in the way and there is less chance of things going wrong. Just to complete the picture I should point out that it would be best to drop a line to the Official Receiver to let them know you have opened a new account and give them the details. It will show them that you are being open and stop any potential confusion if they become aware of the account themselves.0 -
So you opened the accounts after you were made bankrupt?
To be honest it is often the safest thing to do, in that way process does not get in the way and there is less chance of things going wrong. Just to complete the picture I should point out that it would be best to drop a line to the Official Receiver to let them know you have opened a new account and give them the details. It will show them that you are being open and stop any potential confusion if they become aware of the account themselves.
Yeah I opened them after being made bankrupt, gave copies of my bankruptcy order and also spoke to the official receiver's office to confirm that I had done that, all fine with them
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