Bank accounts for Bankrupts - Discussion Thread

nearlyrich · 9 June 2007 at 8:23PM

I have made it sticky, it might be a good idea just to keep this thread for notifying people of any similar accounts rather than general chat;)

lou779 · 10 June 2007 at 1:00PM

Hi just wanted to add that Clydesdale Bank (Scotland) gave hubby an account after his bank of Scotland one was closed due to Bankruptcy. He needed a letter from the trustee to say he was allowed to have an account though. Their basic account comes with a maestro card now too which makes things easier. I think they are Yorkshire bank in England.

northantsandy · 10 June 2007 at 8:37PM

The only account I could get after I was made BR was an account from Alliance & Leicester passed on the old Girobank cash account - post offices and branches, direct debits, cash cardonly,internet banking.

In order to try and stay on top of bills and stuff that is non-DD, I use the Secure Homes facility from Secure Trust bank.

For 15gbp a month, the will give you an account number with sort code so you can pay Direct Debits and Standing Orders. Another great feature is that you can pay your car tax and tv licence into the account each month rather than have to put it away. The Secure Homes account takes a lump sum every month so whatever is left in the bank account is, well, mine to live on.

To give me the facility a debit or credit card can give me, I use the CashPlus card. I pay the 4.95gbp per mth fee with a 1gbp transaction fee so I keep it's use to a minimum. I don't use this card apart for internet purchases or where a SO/DD or cash won't do, I don't use it for 'real world' purchases however.

This way of 'operating' is a little more expensive than not being BR, but I can at least stay in control with modern payment facilities.

Bollinge · 11 June 2007 at 9:50AM

Here's a list of basic bank accounts:

http://www.moneyfacts.co.uk/banking/bestbuys/banking_basic_bank_accounts.aspx

And check here to see if you can get one depending on your personal circumstances:

http://www.moneymadeclear.fsa.gov.uk/pdfs/bank_accounts.pdf

I have the Coop account and a Nationwide account. I agree it's very difficult to get a debit card with Nationwide - they say because there is a theoretical possibility of going overdrawn with it.

With the Coop card you can pay in and draw out at any Post Office - if you can find one that hasn't been closed!

NekoZombie · 11 June 2007 at 10:19AM

northantsandy wrote: »

.

To give me the facility a debit or credit card can give me, I use the CashPlus card. I pay the 4.95gbp per mth fee with a 1gbp transaction fee so I keep it's use to a minimum. I don't use this card apart for internet purchases or where a SO/DD or cash won't do, I don't use it for 'real world' purchases however.

I'm certain CashPlus is either £4.95 a month (active plus) or £1 per transaction (flexiplus).

NekoZombie · 11 June 2007 at 10:23AM

Bollinge wrote: »

Here's a list of basic bank accounts:

http://www.moneyfacts.co.uk/banking/bestbuys/banking_basic_bank_accounts.aspx

And check here to see if you can get one depending on your personal circumstances:

http://www.moneymadeclear.fsa.gov.uk/pdfs/bank_accounts.pdf

I have the Coop account and a Nationwide account. I agree it's very difficult to get a debit card with Nationwide - they say because there is a theoretical possibility of going overdrawn with it.

With the Coop card you can pay in and draw out at any Post Office - if you can find one that hasn't been closed!

This is incredibly useful information, seeing as I have to pay a cheque in to the co-op this afternoon. The co-op is the other side of Holborn (12 mins away), where as there is a lovely post office on the strand (1 min away) :T

backontheup · 2 July 2007 at 9:36AM

The other downside with the Nationwide Account, is that it takes 7 days for a cheque to clear (technically it is 5 working days, but this always straddles the weekend)

gettingitsorted · 2 July 2007 at 10:20AM

Just to add ,i also managed to get a basic account with the Halifax during my bankruptcy which came with a visa electron card

Hurrican_2 · 2 July 2007 at 9:01PM

Hi,
I have a BRO following my bankruptcy does anyone know if I can get a simple bank account or should I just apply to the ones listed?
Thanks

wherediditallgo · 3 July 2007 at 8:30AM

Hurrican,

You are free to apply to any banks that you choose, but I think the quickest thing & ultimately the best route is to apply to the ones in this sticky first, as they've been tried & tested, so to speak. There are some other banks that will allow you to apply, saying there won't be a problem, but then they turn you down once they've looked at your credit file. That just wastes your time & allows them to look at your credit file, with them gaining info about you & you get nothing out of it. So, unless there are specific reasons not to apply to the ones in this thread, then I'd go for them.

fatbelly · 3 July 2007 at 11:55AM

I got an e-mail last night saying that the Nationwide account is no longer available to undischarged bankrupts. Can anyone confirm this?

Bank accounts for Bankrupts - Discussion Thread

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