Do NatWest let you keep your Step account?

Dorothy56

Sorry folks - me again. So many questions....:o

Some moths ago my hubby opened a basic step account with NatWest - the one with no cheque book, but he did get a Solo card.

As all our income is paid into that account and it's totally impossible to go overdrawn on it Will he still have to change to a Co-op cashminder account when he goes bankrupt?

Also when we changed to the step account it took about two months for all our payees to get it right, which we are dreading having to do all over again.

I honestly can't imagine going through this without all your help. Thank you

Rylynn

I have the Nat West account but have been advised on here that they are likely to not allow me to keep it.

The OR will freeze all account on day of BR, but he can also write and say he has no interest in the account.

However it is the bank who then say NO. So I have already opened my co op account, there is nothing in it, and I dont intend for there to be until after I go BR.

I have no idea why it took 2 months to get your payments dealt with, mine were all dealt with in the branch on the day back in 2005, I have never had a problem with Nat West or my account, which is why I wanted to keep it open, but no good hoping then finding NO account at all.

I intend clearing the Nat West one out other than a quid or two day before BR.

Also co op have offered to set up my mandates for direct debits for me, they will send me a mandate to fill in with all whom I pay and what dates are needed, so hopefully that will be as painless as it was with Nat West.

Hope that helps your query.

RL

skylight

I opened the Step account and was one that was allowed to keep it. Others on here had theirs closed, so I opened the co-op one anyway just in case. 8 months after BR I am still using it without too much issue (except the £28 a time fee for being £3 OD, bounced DD that wasn't due...... etc....)

I would strongly recommend opening one. I did my Co-Op one after BR. I never mentioned BR as they didn't ask and they could check my credit file.

Dorothy56

My you are being so helpful to all my different posts. Thank you :A

The income goes into his account from about 14 different places, so it wasn't the bank that was at fault, but the people who pay in..it all seems to take ages through their different accounting procedures.

Do you think we should open the cashminder account now and start getting everything moved over to it or do you think it might be worth going to see NatWest and see what they say - before we do the 'deed'?

This is all a bit swings and roundabouts isn't it!

peachyprice

Rylynn wrote: »

The OR will freeze all account on day of BR, but he can also write and say he has no interest in the account.

Rylynn, the OR doesn't freeze bank accounts, the banks do it off their own back. Some banks do it, others don't bother.

Rylynn

Sorry Peachy, I thought I read on here in many posts that the OR freezes the accounts on day of BR, and you then speak to him about them. If he does not freeze them how the hell do the banks find out about everyone going BR on any given day? Confused now to say the least.

So maybe the OR lets all the banks know you have gone BR via phone on the day and then they freeze the accounts is that the case?

I only know what I have read here about people finding their new cash minder accounts frozen and having the OR let the bank know he has no interest in it. However this has not worked for many with other accounts, Nat West being one of them.

I have thought about phoning them up Dorothy, but as I have set up the co op one, intend to have my wages paid into my mothers account this month I am doing nothing. I will ask the OR on the day (as I know at my court I have to speak to him on the day) if he can let co op and nat west know he has no interest, and there should be no reason why he would have an interest in either, the co op have already assured me that if the account is frozen which they doubt it will be unfrozen straight away, they are well aware I am going bankrupt as I told them so on the phone. I now have my new account number and electron card arrived this week as well, so all set to tango.:j

I have never gone overdrawn in my Nat West account in the 3.75 years it has been open, being in an IVA would not allow me to do that, and I have made very sure it has never happened, that however does not mean they will allow me to keep the account, so will see on the day of BR when I phone them up and ask.

I would be more than happy to have the two accounts as one can be for wages and DDs and the other to transfer money to for things like MOT and car Tax and other things not needed to be spent each month.

The other bank that takes kindly to BRs I understand is Barclays, no good for me as my main creditor back in 2005.

RL

marshmallow13

I had a basic nationwide account with just a cashcard and this was frozen I had to get a new one.

marshmallow13

just out of interest in relation to above - I discovered a couple of weeks ago (i was BR 2 years ago discharged 1 year ago) that I have an old Abbey account with a debit card which I never closed. It wasn't on my SOA as i didn't owe them any money and to be honest completely forgot about it. Can I use it now?

Rylynn

Did you not tell the OR about this account on your forms where you have to put ALL bank accounts?

If not then I have no idea what will happen if you try to use it, do you know if it is still open, you don't have to close them, the bank close them I am told today, I thought it was the OR.

sammahootexpress

natwest let me keep my account open but had to close it due to a creditor reinstalling their direct debit, closed it in the end but kept my savings account which last week checked to see if i can use as now discharged, they said yes and even got a solo card in the post, next went over to barclays still got my current account there and savings account still open, do i push it and see if they give me a cheque book, and i still have money init, which is strange as my sainsbury account the or took the 1 .50 and closed

skylight

marshmallow13 wrote: »

just out of interest in relation to above - I discovered a couple of weeks ago (i was BR 2 years ago discharged 1 year ago) that I have an old Abbey account with a debit card which I never closed. It wasn't on my SOA as i didn't owe them any money and to be honest completely forgot about it. Can I use it now?

The answer is no - you shouldn't. Everything up to BR date belongs to the OR and its up to him what happens to it. You should still have declared the account on your forms - debt or no debt, there is a section specifically for this. Once the OR knew about it, they would have written to Abbey to tell them of your BR and it would have been closed (if there is an overdraft on it). As it would have been closed under BR had you remembered, then I would open a new one and close that one. If you used the account and something came of it, you would be accused of deliberately hiding it from the OR or worse case, fraud. Are you sure its still open? Most banks do talk to each other, plus they check the insolvency register etc. and it does surprise me that one slipped through the net.