DMP - New Bank account advice needed

poppy52

If you are on a DMP you are advised to open a new basic bank account with a bank you have no relationship with. This is because if you owe your own bank money they can seize anything you put into the account, i.e. salary, without asking if they suspect anything is wrong and that you cannot keep up normal re-payments. Also, on a DMP you are not supposed to have access to any credit, including cheque books and normal debit cards or credit cards. A basic bank account does not give you these - usually you just get an electron or solo card.

Conor_3

Ask Natwest if they'll open you a Step Up account.

severussnape

hi we are at the same stage and currently bank with halifax (bank of scotland) so we have opened a basic account with barclays online. the forms came through today we signed them and sent them back. so they are ok as long as you don't owe them

hulltrucker

Conor wrote:

Ask Natwest if they'll open you a Step Up account.

I went Bankrupt 15 months ago and was discharged in October 2005. I have held a Nationwide Flex Account with a cash point card since 6 months before my bankruptcy and with the exception of 6 day period that the OR froze my bank account have been able to use it without any problems.

If it helps anyone I believe there is a list of Basic bank accounts at http://www.fsa.gov.uk/consumer/consumer_publications/index.html
This also details what the criteion is - ie "will accept undischarged bankrupts" etc etc

Now that I am discharged I am trying to upgrade to either a Natwest step account or the coop Cashminder account - not because I want to try and get any credit (never again thanks!) but because its almost impossible to make on line purchases (and thus get the savings) without a debit/credit card - unless anyone knows different?????

Moustacheman

Thanks to everyone on this thread for their advice. I went for the Co-Op Cahminder account in the end and have been accepted and the accout is now set up and ready to use. To make matter better I have evn had 2 offers of repayment accepted by 2 of my creditors. 2 down, 4 to go!