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  • FIRST POST
    • Fizz Bomb
    • By Fizz Bomb 14th Oct 16, 9:12 PM
    • 34Posts
    • 10Thanks
    Fizz Bomb
    Basic bank account recommendations?
    • #1
    • 14th Oct 16, 9:12 PM
    Basic bank account recommendations? 14th Oct 16 at 9:12 PM
    Hi, does anyone know if HSBC accept people embarking on IVAs? Currently with Barclays so need to find someone to move to.

    Thank you
Page 1
    • mwarby
    • By mwarby 14th Oct 16, 10:18 PM
    • 617 Posts
    • 228 Thanks
    mwarby
    • #2
    • 14th Oct 16, 10:18 PM
    • #2
    • 14th Oct 16, 10:18 PM
    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
    • By memberme 17th Oct 16, 11:13 AM
    • 161 Posts
    • 39 Thanks
    memberme
    • #3
    • 17th Oct 16, 11:13 AM
    • #3
    • 17th Oct 16, 11:13 AM
    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
    • By owlet 17th Oct 16, 1:30 PM
    • 1,474 Posts
    • 1,357 Thanks
    owlet
    • #4
    • 17th Oct 16, 1:30 PM
    • #4
    • 17th Oct 16, 1:30 PM
    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
    • alltaken
    • By alltaken 17th Oct 16, 4:17 PM
    • 337 Posts
    • 181 Thanks
    alltaken
    • #5
    • 17th Oct 16, 4:17 PM
    • #5
    • 17th Oct 16, 4:17 PM
    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
    • By silvdo 20th Oct 16, 3:50 PM
    • 63 Posts
    • 148 Thanks
    silvdo
    • #6
    • 20th Oct 16, 3:50 PM
    • #6
    • 20th Oct 16, 3:50 PM
    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
    • By GonnaBeatThis 24th Oct 16, 8:22 AM
    • 6 Posts
    • 8 Thanks
    GonnaBeatThis
    • #7
    • 24th Oct 16, 8:22 AM
    • #7
    • 24th Oct 16, 8:22 AM
    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
    • By sourcrates 24th Oct 16, 12:40 PM
    • 8,366 Posts
    • 8,198 Thanks
    sourcrates
    • #8
    • 24th Oct 16, 12:40 PM
    • #8
    • 24th Oct 16, 12:40 PM
    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.

    For free debt advice please call National Debtline on
    0808 808 4000
    Monday to Friday
    9am to 9pm
    Saturday 9.30am to 1pm
    • Scooby99
    • By Scooby99 25th Oct 16, 9:50 AM
    • 26 Posts
    • 0 Thanks
    Scooby99
    • #9
    • 25th Oct 16, 9:50 AM
    • #9
    • 25th Oct 16, 9:50 AM
    Virgin Money have been very good. I have their Essentials account
    • ontheup1972
    • By ontheup1972 1st Nov 16, 1:43 PM
    • 27 Posts
    • 10 Thanks
    ontheup1972
    The Halifax basic account is another account who will accept people in IVAs.
    • amyjaj
    • By amyjaj 1st Nov 16, 11:48 PM
    • 93 Posts
    • 13 Thanks
    amyjaj
    I have Nationwide Flex Basic. Comes with online and mobile banking as well as contactless card as standard, the only bank that does.
    • SortingMyLife
    • By SortingMyLife 5th Nov 16, 11:27 PM
    • 16 Posts
    • 40 Thanks
    SortingMyLife
    Nationwide flex basic here too!
    • mwarby
    • By mwarby 6th Nov 16, 9:33 AM
    • 617 Posts
    • 228 Thanks
    mwarby
    I have Nationwide Flex Basic. Comes with online and mobile banking as well as contactless card as standard, the only bank that does.
    Originally posted by amyjaj
    To be completely fair I think it's quite uncommon now not to get internet and mobile banking as standard (some are of course better in features and design than others)

    The contactless card and Android/apple pay are far less common on a basic account, and while life could happily go on without, it's handy to have
    • amyjaj
    • By amyjaj 6th Nov 16, 1:48 PM
    • 93 Posts
    • 13 Thanks
    amyjaj
    To be completely fair I think it's quite uncommon now not to get internet and mobile banking as standard (some are of course better in features and design than others)

    The contactless card and Android/apple pay are far less common on a basic account, and while life could happily go on without, it's handy to have
    Originally posted by mwarby


    Yeah, It is really uncommon to come across contactless cards on basic bank accounts. Nationwide is the only bank I'm aware of that does give one, automatic. Here in Oxford they have started to introduce contactless payment on busses, with hope of having cash free buses in future, like London. So contactless is helpful. using contactless on the Underground is also cheapest too.


    I wasn't aware that internet banking wasn't available on all basic bank accounts. I knew that you couldn't have it if you were an undischarged bankrupt.
    • mwarby
    • By mwarby 6th Nov 16, 2:00 PM
    • 617 Posts
    • 228 Thanks
    mwarby
    I wasn't aware that internet banking wasn't available on all basic bank accounts. I knew that you couldn't have it if you were an undischarged bankrupt.
    Originally posted by amyjaj
    I recall that Barclays used to cut off internet banking (and presumably the mobile app) when you went bankrupt, and at the time Barclays were only ones offering bankrupts accounts. I recall it beinv discussed a year or 2 ago that they had stopped doing this
    • adyj73
    • By adyj73 7th Nov 16, 2:35 PM
    • 124 Posts
    • 41 Thanks
    adyj73
    I got HSBC basic and CoOP accounts when i went IVA. Both fine and HSBC did not close mine after 3 months - in fact its been my main account all through the IVA and continues to be so post IVA

    I also had full access to online banking and even contactless Android Pay - although I don't have a contactless card and still can't get android pay to work on my phone :-)
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