Bank accounts for Bankrupts - Discussion Thread

nervousmother

If he is not BR he will be ok.
our Abbey account was never frozen but alot are, we still have it now a year after BR although we have not used it.

fermi

Basic bank accounts too limited

Today on MoneyBox - Radio 4 - Midday.

Since 2004 banks are committed to offering basic bank accounts for people who want to ensure that they do not overdraw their account.

But 6 out of 17 basic bank accounts surveyed do not provide a debit card, according to latest figures from the Financial Services Authority.

Debit cards allow customers to pay for goods electronically in shops and online.

This lack of access to basic banking services is being blamed for the rising number of people who have benefits loaded directly onto pre-paid cards.

Although charges vary, many card companies charge to have benefits paid onto cards, to take out cash, and often a regular fee as well.

But Money Box listener Gordon Wilson from Glasgow, says he has been refused a basic account by RBS, Natwest and Bank of Scotland on the basis of his credit record even though he is not seeking credit, and has not been declared bankrupt.

Banks can refuse a basic account to people who are bankrupt or have a history of fraud.

Gordon does not use a pre-paid card, but says his lack of payment options has left him walking around Glasgow with up to £1,000 cash in his pocket.

Francis from Liverpool says his basic account does not allow him to pay direct debits; he uses a pre-paid card to pay utility bills.

Presenter Paul Lewis puts the issues to the Government's lead on Financial Inclusion: Exchequer Secretary to HM Treasury, Sarah MaCarthy-Fry.

fiveyearplan

They should have put in a plug for Coop and Barclays.

WLITC

Payments out of your account (Direct Debits, Standing Orders, etc).

Make sure you cancel these with your bank before going bankrupt, and it is better if you cancel them in writing (rather than by phone or over the internet), as there have been a few cases where the bankrupt has been held liable for payment taken from an account after the bankruptcy date.

You need to aim to do this 10 - 14 days before your bankruptcy date to allow time for the bank to get their act together and stop them.

Surely if I cancel all my direct debits through online banking then this should be sufficient. I've done this and now its states that I have no direct debits set up on this account?

philnicandamy

just because you cancel them online....isnt always a sign they'll be cancelled barclays did the same with me

be safe to double check

WLITC

philnicandamy wrote: »

just because you cancel them online....isnt always a sign they'll be cancelled barclays did the same with me

be safe to double check

Well thats just silly isn't it, whats the damm point of online or phone banking if it doesn't do the job. I've done it online and just phoned to double check and now Il have to waste my time doing a letter :mad:

sorry .. rant over. So with Barclays, was it a DD that you cancelled very close to the date it was due to come out of the account? I'm just wondering why cancelling online might not be effective?

sizzler

Why is it silly:D

fermi

sarahmason77 wrote: »

I was made bankrupt in Feb 2010 and today (29th March) Barclaycard have taken nearly £200 out of my account without me knowing, can they do this??

Thanks
Sarah

Copied to new thread.

Here ----> http://forums.moneysavingexpert.com/showthread.html?t=2370789

diddly74

Co op have moved the Direct debits that I want to keep and cancelled all the others that I don't want anymore!!!

D

adwilliams

Any prospective or recent bankrupts - go to Co-Op and open a Cashminder account (though not until after you have been made bankrupt and after you have had your interview with the Official Receiver). Co-Op cashminder accounts can be run on-line - including setting up DDs & SOs etc, you will be given a Visa Debit card and a paying in book. You can pay money/cheques in at any post office or mail them. You can even open the account on-line or over the phone.