Bank accounts for Bankrupts - Discussion Thread

g1ryt

Cooperative is the best bank for bankrupts and i would consider only them, first class service, internet banking, debit card etc ......just amazing service!!!

book12

swinster wrote: »

Hey all,

I declared myself bankrupt in 2004 and was discharged in 2005. I have used a Nationwide basic account since and whilst its very good, I really need a proper current account. I am in good employment and have not had any credit issues since the bankruptcy, however at the same time I haven't had any credit. I haven't been able to find an account that I can open - even Nationwide won't upgrade me!

Are there any options out there? Will I ever be able to get a normal account? Will I ever be able to get some kind of reasonable credit rating?

Many thanks.

I would recommend either the Barclays Cash Card Account or the Co-op Cashminder Account. Both accounts comes with debit cards.

neverletitgetyoudown

i would recommend the co op

only problem i have had is remembering my pass numbers lol

get thro all the time on the phone and the staff are always help ful

MicheH

I found that sjg, I never have to wait in a queue when I call the call centre for the Coop and the best bit.. I get to speak to folks from liverpool

Minxz

I opened a Braclays cash card acc today, after going BR yesterday. I chose this as they can open an account on the same day, no waiting about for forms to be sent off etc(especially with strikes looming!) and they checked ID etc while we were there.
The guy was lovely, really kind and helpful, and we have a Connect card coming in the post, which is a proper debit card.. who'd have thought I'd get excited about raised numbers? lol ( been using an Electron the last few months, and found it a bit restrictive)
Also we DO get online banking with a cash card account- , so the only difference is no cheque book, and no overdraft- and i won't miss either of those

tigerfeet2006

Once your news of yout BR gets properly beyond branch level the internet banking will be with drawn. Quite a few posters on here have had it happen to them suddenly several months into their BR, with out warning. They say they will reinstate it after discharge.

Minxz

oh ok.. thanks! Strange really, as it's easier to access online stetments isn't it!
Oh well, I shall just wait till next year.
Thanks

tigerfeet2006

No problem. I must say that a lot of us on here find it strange as being in the position you are in you need to keep very close check on your finances.

sieve

Yes it is annoying that they take the online banking away as soon as the BR marker hits your account (mine took about a week after going BR), but I can confirm that they WILL give it back once you're discharged if you take your discharge letter into a branch and ask them to fax it to their 'legal issues' team.

book12

Minxz wrote: »

I opened a Braclays cash card acc today, after going BR yesterday. I chose this as they can open an account on the same day, no waiting about for forms to be sent off etc(especially with strikes looming!) and they checked ID etc while we were there.
The guy was lovely, really kind and helpful, and we have a Connect card coming in the post, which is a proper debit card.. who'd have thought I'd get excited about raised numbers? lol ( been using an Electron the last few months, and found it a bit restrictive)
Also we DO get online banking with a cash card account- , so the only difference is no cheque book, and no overdraft- and i won't miss either of those

Yup, it's a proper VISA debit card. That card on the Cash Card Account will seek authorisation before taking the amount. If there isn't enough money, the transaction will be declined. It's quite safe to use without getting overdrawn.

You will receive the PIN first, then the card, within 2-3 days. Usually after account opening (in your case Wednesday), PIN will come today, then the card will come on Friday. That might change due to the postal strikes.