Basic bank account recommendations?

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Fizz_Bomb
Fizz_Bomb Posts: 51 Forumite
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in IVA & DRO
Hi, does anyone know if HSBC accept people embarking on IVAs? Currently with Barclays so need to find someone to move to.

Thank you
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  • mwarby
    mwarby Posts: 2,048 Forumite
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    HSBC are very picky, for full accounts don't know basic

    I'd recommend nationwide flexbasic. It has good online and mobile banking, contactless card as standard and apple\android pay.

    I'd also suggest setting up some savings accounts to help with budgeting, I for instance save each month for car repairs, christmas\birthdays, medical(biggest cost is glasses)
  • memberme
    memberme Posts: 213 Forumite
    Debt-free and Proud!
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    Hi,

    I opened a coop cash-minder but also a normal premium account with them and never had any issues. Just didn't use the OD that came with the better account. If you setup before the IVA starts they don't seem to chase up and check afterwards
  • owlet
    owlet Posts: 1,510 Forumite
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    I also recommend Nationwide Flex Basic. It gives you everything apart from the ovetdraft. You can also open a regular saver with 2% interest rate.
    SPC 8 (2015) #485 TOTAL: £334.65
    SPC 9 (2016) #485 TOTAL £84
    SPC 10 (2017) # 485 TOTAL: £464.80
    SPC 11 (2018) #485
  • alltaken
    alltaken Posts: 452 Forumite
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    HSBC are one of banks/building societies that signed up to the UK Treasury agreement on basic banking. In short, they offer a basic account to pretty much anyone, including bankrupts and the otherwise insolvent.

    Naionwide are highly recommended, their Flexbasic offers full banking facilities including contact-less and Apple/Android pay support.
  • silvdo
    silvdo Posts: 66 Forumite
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    Nationwide have been great for me, Managed to keep an HSBC bank account too as didn't have any loans through them.


    I also use a credit union account to save for Christmas, repairs ect.


    Final thing I have is a pre paid payment card (pockit) which I use to control my spending. Load money on to it weekly and then I don't get tot he end of the month with absolutely nothing, or at least that's the idea.
    Appologies for any bad spelling in my posts i do my best but they are unavoidable.
  • GonnaBeatThis
    GonnaBeatThis Posts: 9 Forumite
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    I'd be wary of HSBC, they closed my basic account with them about 3 months after my IVA started, I didn't owe them any money and operated the account within the Terms and conditions.

    No reason was given.

    I went with Co-Op Cashminder, does everything you need and their onli e banking app is excellent.
  • sourcrates
    sourcrates Posts: 28,878 Ambassador
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    Coop cashminder are good, as are Lloyd's basic accounts, all done online in ten mins, look for basic accounts that offer a debt card, because some only offer a cash card to withdraw cash with.

    Most banks offer credit check free basic accounts to anyone, as long as you have no history of fraud, you should be able to get one no problem.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • Scooby99
    Scooby99 Posts: 32 Forumite
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    Virgin Money have been very good. I have their Essentials account
  • ontheup1972
    ontheup1972 Posts: 90 Forumite
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    The Halifax basic account is another account who will accept people in IVAs.
  • amyjaj
    amyjaj Posts: 106 Forumite
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    I have Nationwide Flex Basic. Comes with online and mobile banking as well as contactless card as standard, the only bank that does.
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