How long is the co-op bank account frozen for?

fool_with_a_pen_75

Hi all,

Well the day is almost here...feeling quite proud of my achievements so far to be as ready as possible for the dreaded hour.. (Wed at 11.30am).

Got co-op account open, card has arrived... cancelled dd on my old bank accounts and set up all new ones for the co-op account...cunningly to coincide (i hope) with when the account is unfrozen...which leads me to my question...how long did people find that there accounts were frozen for...the co-op have said to ring them 48hrs after the court date but I was not sure if the OR actually freezes them on the day you go BR or if it takes a few days...just concerned about first lot of dd's that I have set up on the account.

Appreciate any experiences....

FWAP

philnicandamy

what leads you to think the account will be frozen?

usually its the bank that freezes an account NOT the OR.....IF an account is frozen the OR can make a call to release funds or state its an account they have no interest in...i've only known 3 occasions where a co-op cashminder account has been closed...and thats down to a grumpy OR

Time it takes to freeze an account? how long's a piece of string really....some banks soon as they're aware of your BR will close an account...some take a little longer (barclays with me for example took nearly 6mnths to close my account)

fool_with_a_pen_75

thanks P, it was the co-op themselves who said the account would freeze and to ring them 48hrs after the day I go BR...oh well will have to see then...think I will only put enough money in there to cover this dd that is due on the 21st just did not want to loose any cash by putting it in there b4 Wed.

As always thanks for the advice...

philnicandamy

Hmm strange....never heard that before TBH although the way some banks are of late they seem to change the rules on a daily basis
Make sure as you say there's enough cash in the account to cover the bills DD's etc not a penny more....as the OR could claim as an assett

Hope all goes well

Phil

fool_with_a_pen_75

thank you ..... will give you the low down on the court on Wed PM!!!!!

unlucky_lill

Hi foolwithapen

I have recently opened a co-op account ready for BR 30th March and the co-op said exactly the same thing to me re he 48 hour ringing up thing. Would be interested to know what happens.

Good luck

flo5

Just wanted to wish you good luck for the 18th.

My husband is in a similar position having been petioned by one of his creditors, so we are watching your posts with great interest.

Anyhow, hope it goes well and looking forward to your next post

jellygirl_2

i went br lst Monday (9th March) and my co-op cashminder hasnt been frozen - at least Ive been able to logon to their online banking system so I presume all is ok. I did withdraw all cash from the account just in case, but am going to be putting it back in tommorrow as its seems its ok.

fool_with_a_pen_75

unlucky_lill wrote: »

Hi foolwithapen

I have recently opened a co-op account ready for BR 30th March and the co-op said exactly the same thing to me re he 48 hour ringing up thing. Would be interested to know what happens.

Good luck

Thanks for your well wishes...really helps to know everyone is here! I will let you know...think I am going to ring them on the Friday and see what they say!!!

fool_with_a_pen_75

flo5 wrote: »

Just wanted to wish you good luck for the 18th.

My husband is in a similar position having been petioned by one of his creditors, so we are watching your posts with great interest.

Anyhow, hope it goes well and looking forward to your next post

Happy to help...seems as thou there are not many of us about who are petitioned so I will post all the info re the court date tom...I am bricking it a little it has to be said...Don't hesitiate to ask if you have any specific questions!

jellygirl_2

Just an update to day its now just over a week after br and account as not been frozen - went into branch today to put cash back in and no problems.