Bank accounts for Bankrupts - Discussion Thread

Manoona

Ive been trying to get a basic account since my bankruptcy in May this year - At the mo my wages are paid into my mums account so its really not ideal, at the beginning of this sticky there is a few mentions of the yorkshire bank, does anyone know if they are still bankrupt friendly, i e mailed them but they advised to make an appointment, my local 'yorkshire' bank branch is not really local at all, Gloucester is the closest, about an hour and a half drive...but if this is my best option then i'll go for it.

FYI Barclays let me open an account and then a week later it was closed....Co-op said ont he phone my application was successful then a few days later in the same bunch of mail I had a letter asking for some ID and another saying they cant offer me an account!!

Doucam

Manoona, are you on the electoral roll at your address? As if you are not then you won't get an account with any banks or building societies.

jonathon01

philnicandamy wrote: »

Most banks get their information from the Lomdon Gazzette entry showing your bankruptcy entry...basic bank accounts are NOT credit checked only usually I.D checks are done..BUT apart from barclays or the co-op most other banks are very anti bankruptcy

So are you saying that you could apply for a current bank account (not a basic bank account) the day after you are bankrupt, the bank would credit check you and, if you pass their credit score, they would offer you a bank account, but that a month down the line, they could rescind the offer / close your bank account, because they automatically vet the London Gazette, so even though they haven't run another credit check on you, they would still learn of your bankruptcy anyway?

Manoona

I am on the electoral roll, i was sent my voting card and voted for the first time ever he he, I wasnt on the electoral roll whilst I was at my parent address (I was there for apx 6 months) about 16 months ago, do you think that is the reason they have trouble - I have also moved a lot, part of being inr ented accomodation I suppose, so mt address has changed a lot, again this could be it, but for the alst 16 months ive been in the same house and on the electoral roll - as I ahve at most of the properties I have lived in!

Doucam

Ah right, I just wondered if that was the problem. As far as I am aware the co-op are fine with BR's, have you called them and asked them what the problem is? It may be something simple that you can rectify and get yourself an account.

mandrake75

Hi all
I am in the process of going BR in the next few weeks with the advice of the CAB.
I have a basic Barclays Cash card account for my wages to go into (no debit card) -the CAB however told me to get my wages paid into a friends account as this will get frozen.
The problem i have is that my wages from my work are paid into my account by a third party company (as our company HQ and finances are based in Benelux) - and when i gave these people my friends account details and name they point blank refused as the account wasn't in my name!!!

My wages are paid out by this company on around the 14th of the month and are in my account by the 24th. My BR could likely fall between these two dates. What would happen when my account gets frozen? Is the OR likely to unfreeze it granting me access to my wages? It all seems to be a question of timing to me and i'm rather unsure of it all.As its Barclays basic card account would they be ok with it?

Thanks for any advice you can give to a newbie

Manoona

I havent called them yet, but if I have no luck with the yorkshire bank then I will!

Manoona

Hi mandrake75!

Its more than likely that the OR will have no interest in your bank account and so Barclays should allow you to continue operating it, did you tell them the reason for the account when it was opened up?

It took a good 3 weeks for my account to be frozen anyway so I would'nt worry about your wages, it wont get frozen immediately - although in your case probably not at all!!:)

hopefulfooluk

Mandrake be aware that with Barclays, even if you are allowed to continue using the account, they will probably claim the balance that is in there on your bankruptcy date to send to the OR so time your bankruptcy for when there is very little in your account - last thing you would want is to be paid and then go BR the day after only to lose the funds that are in there.

They did that with me - but fortunately my BR date balance was only twenty quid. I've been very happy with the account since.

tigerfeet2006

mandrake75 wrote: »

Hi all
I am in the process of going BR in the next few weeks with the advice of the CAB.
I have a basic Barclays Cash card account for my wages to go into (no debit card) -the CAB however told me to get my wages paid into a friends account as this will get frozen.
The problem i have is that my wages from my work are paid into my account by a third party company (as our company HQ and finances are based in Benelux) - and when i gave these people my friends account details and name they point blank refused as the account wasn't in my name!!!

My wages are paid out by this company on around the 14th of the month and are in my account by the 24th. My BR could likely fall between these two dates. What would happen when my account gets frozen? Is the OR likely to unfreeze it granting me access to my wages? It all seems to be a question of timing to me and i'm rather unsure of it all.As its Barclays basic card account would they be ok with it?

Thanks for any advice you can give to a newbie

If it is the Barclays basic cash account then you have no need to worry. When you speak to the OR just tell him this is your everyday account and he should declare he has no interest in the account, Barclays are BR friendly and will allow you to continue to use the account (If you live in the Brighton area this is slightly different.)

Just make sure there is no or minimal money in the account on the day you go BR.