Which Bank Account to open???

AircraftHandler · 30 June 2015 at 12:52PM

Afternoon,

I'm in the process of declaring myself bankrupt and will be going to court next month.

I have been reading about Co-operative no longer offering bank accounts for people who have not been discharged and one of the Credit Cards i will be adding to my Bankruptcy is from Barclaycard so what are my options with regards to opening a bank account to add my pay into?

Any help would be greatly appreciated.

Regards

Helpmeoutofthismess · 30 June 2015 at 1:26PM

Hi,
You can still open a co op cashminder account as long as you are not bankrupt yet, it's possible they will close it once you declare bankruptcy but they don't tend to as long as you only have the cashminder basic account. You can open the account over the phone, don't mention anything about bankruptcy, just say you want the account to help with budgeting.

Even though you will be putting your barclaycard into your bankruptcy, Barclays will probably still open you a basic cash card account. It comes with a debit card but you probably won't be able to have online or phone banking until your bankruptcy has been discharged 😕. Unfortunately you have to open the account in branch which I found very embarrassing as I had 3 defaulted barclaycards to my name

to Barclays credit the lady did not mention them at all, she was brilliant.

If for any reason you don't manage to get sorted with an account or your co op one gets closed, Barclays will still open an account for an undischarged bankrupt.

Nth,

H x

owlet · 30 June 2015 at 1:29PM

You can open a co-op casminder account now. Don't tell them you are goibg BR though, just say it's for budgeting or something. If you can get it open before you go BR it will be fine but they won't open one until after discharge otherwise. Co-op will allow internet ,& phone banking too.

AircraftHandler · 30 June 2015 at 2:15PM

I will open a Co-op one soon. I'm in the forces so can i use this account abroad as i often travel?

Regards

National_Debtline · 30 June 2015 at 3:57PM

Hi AircraftHandler

The Co-Op account normally allows you the internet banking option, which should make using it from abroad more straightforward.

Dennis
@natdebtline

[Deleted User] · 30 June 2015 at 7:05PM

I'd go with Co-Op if you can get it opened in time. As others have said you get online banking etc too, which if you are monitoring your money closely will be invaluable.

Might be biased as I used to work there, but their customer service has always been outstanding too - can't wait until I'm discharged and can jump ship from Barclays!

You can use the accounts abroad but the charges aren't great - if you're going to be spending & withdrawing cash abroad etc on a regular basis, you probably want to consider a pre-pay travelex card or similar.

Barclays say they don't give online banking to bankrupts officially. After a 6 month battle involving numerous complaints and offers of 'goodwill' from them (after one of them has given it to me, and then another has taken it away!), I've found my online banking seems to have been re-activated today (I'm still technically bankrupt for another few months). Didn't even tell me about it!

Appears you can't get this "Blue Rewards" thing on a cash account though, you need a proper current account for that. Shame!

AircraftHandler · 21 July 2015 at 9:38AM

Declaring bankrupt on Monday and still have not opened a bank account but hopefully will have that done tomorrow. Do you know if the co-op one does a switching service?

kgw1009 · 21 July 2015 at 9:43AM

Just wondering....

What difference does it make if you are bankrupt to get online banking? Surely it would allow you to control money better with it? that is total bonkers!!!!

LoveLifeAgain · 21 July 2015 at 11:33AM

kgw1009 wrote: »

Just wondering....

What difference does it make if you are bankrupt to get online banking? Surely it would allow you to control money better with it? that is total bonkers!!!!

I think you will find Barclays give on line banking now probably a good idea for anyone to check their branch first as I do not know if this is now automatic in all branches with new BRs.

jak · 21 July 2015 at 11:34AM

It's completely bonkers! I opened a cash card account with barclays, they were fab! And I got a bank statement posted to me every week for a year so I could keep track. You could always do that xx Once I was discharged I could online bank, just needed to take my discharge letter in x

AircraftHandler · 21 July 2015 at 2:50PM

Internet banking could be beneficial but I will be using my card abroad so whatever is the cheapest way of overseas spending is what I want.

Which Bank Account to open???

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