Problems to Open a basic Bank account with IVA
Thedoctor01
Posts: 3 Newbie
Hi all,
I'm struggling to open a Basic Bank account with my IVA started in January 2017.
Do you know which Banks i can contact to manage to do this?
At the moment i have a Card account online (Cashplus) which is charging 9.99 a month and the management it's terrible.
Obviously when i go to the banks my credit check fail as it's bad, really don't know what to do.
Many banks say that you can open basic bank accounts only if you are not qualify for a normal current account and they open basic account to people bankrupt but i'm struggling to get one open with an IVA.
Anybody have any suggestions?
Many thanks
I'm struggling to open a Basic Bank account with my IVA started in January 2017.
Do you know which Banks i can contact to manage to do this?
At the moment i have a Card account online (Cashplus) which is charging 9.99 a month and the management it's terrible.
Obviously when i go to the banks my credit check fail as it's bad, really don't know what to do.
Many banks say that you can open basic bank accounts only if you are not qualify for a normal current account and they open basic account to people bankrupt but i'm struggling to get one open with an IVA.
Anybody have any suggestions?
Many thanks
0
Comments
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Co-Op Bank Cashminder account - google it.0
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Hi Thedoctor01
Anyone should be able to open a basic bank account if they want to, not just bankrupts. There are reports that some banks won’t give a basic bank account if you qualify for their standard current account.
I would suggest you request a basic account and if you are turned down ask the reason why. Assuming the bank can’t give a valid reason you can make a complaint.
There’s an interesting article on basic bank accounts here http://www.moneysavingexpert.com/banking/basic-bank-accounts. It suggests Barclays, Co-op and Virgin’s basic accounts are the easiest to open. It will be best to go for a bank that is not included in your IVA. Good luck getting your account.
Susie
@natdebtlineWe work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps0 -
I had to get a new bank account when I entered into my IVA. I got a Natwest Select account (with no fees - I went into their branch and explained my situation); they've always been very good.
Best of luck. It's not easy going through an IVA - but stick with it; you'll get there. x0 -
Hi Everyone,
Thanks to all for your comments!!!
Yesterday I've actually managed to open a FLEX BASIC account with Nationwide as I've got Mortgage with them.
Susie
@natdebtlin
In my IVA I have a credit card that was with Nationwide, can this be a problem?
Many thanks to all!!!0
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