Bank accounts for Bankrupts - Discussion Thread

mandrake75

Thanks all for the replys.
My balance should be zero on the date of the BR - the main worry was if I was made BR after the 14th I wouldn't be able to stop the process of my wages going into a subsequently frozen account
Hopefully this now shouldn't be an issue to worry about.

hopefulfooluk

You should be fine as long as your balance is low on BR day, or (as tiger has said) you come under the jurisdiction of the Brighton OR. My Barclays account wasn't frozen at all and I got a letter from Barclays a week or so after BR to say they were fine with me using it (tell your OR to tell them and you won't have a problem).

Classylady2010_2

bump bump bump

alastairq

as mentioned before...the OR doesn't 'freeze' an account...the banks do.

All the OR does is express an interest...or no interest, in an account.


Barclays have been known to take moneys from accounts where they deem it owed....although they will repay is subsequent to a BR.

Co-op are probably the best choice...they include internet banking facilities.

However. Co-op's administration can get a bit confused....at times, bless 'em.

When applying for a basic ...CASHMINDER account, especially over the phone, this must be emphasised, otherwise the wrong key is pressed, and a standard bank account is applied for...[which includes the possibility of over-draught facilities, guaranteed cheque/debit cards, etc.....often with a £50 or £100 guarantee]

Thus, a credit check fails.



I would pursue the Co-op angle......try to discover why they refuse a cashminder account?

jonathon01

jonathon01 wrote: »

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?

Bump! Does anyone know the answer to this? Thanks!

hopefulfooluk

jonathon01 wrote: »

Bump! Does anyone know the answer to this? Thanks!

Yes that's right as your credit file will probably take a month or so to update your BR. The only safe ones are the Barclays Cashcard and Coop Cashminder. Your mileage will vary on all the other accounts out there.

jonathon01

hopefulfooluk wrote: »

Yes that's right as your credit file will probably take a month or so to update your BR. The only safe ones are the Barclays Cashcard and Coop Cashminder. Your mileage will vary on all the other accounts out there.

Well that's annoying as my CRA data is fine and would allow me to get a standard bank account the day after I went BR. While I would reject the offer of an overdraft, a chequebook and online banking would be very welcome. Has anyone had any experience of this, where they have been credit checked and been able to open a normal bank account then had the account closed a month or two down the line bcse the bank has discovered the BR?

hopefulfooluk

You can get online banking with the coop cashminder account. Why risk it for the sake of a chequebook?

In the year or so since I've not had a chequebook, I've had to write maybe two cheques - and I just got my fiance to write one for me and gave her the money to cover it.

Falze

Cheque are olde school. They'll propabley be obsolote in a couple of years for personal use. Business cheque are more common place.

I only every used them when i didn't have enough money to pay !!!

Shhhhh do tell anyone.

Kittyshell

Hi, unfortunately my husband and I through a period of 2 redundancies and a relocation are having to file for bankruptcy. Our creditors have been disgusting with us, despite us both being very good previous to this bad luck!

We are worried about not getting a bank account, we dropped in to Halifax and they assured us that we would not have a problem getting a basic (no credit check) account with them, despite informing them of our pending bankruptcy. However they said apply before, no problemo! However judging by these sites I should do it after.

On reading alot of the forums they seem to be saying that the only ones that will help are the co-op and Barclays. what if some of our debts are with these guys, are they pretty good in opening an account despite your previous debt with them?

Has anyone had any luck opening a Halifax basic account after bankruptcy?

Thanks Shell x