Bank Account Disaster! Please Help.

xmaslolly76

I currently have a coventry BS money manager account. they didnt run any credit checks just asked for iD to be provided not sure where they stand with BR could be worth a try. The account allows DD as well as standing orders but no debit card or overdraft facilitys.

dvs

I was declined several times by Barclays before I was accepted. The new branch system definitely does a credit check despite what they say. I think the system then decides you can't have an account. The old system does allow the account to be opened but the branch staff aren't meant to use the old system. I applied by post in the end and I included a letter along with a copy of my bankruptcy.

Failing that, it you don't mind not telling the whole truth, Natwest will open a Step Account if you do not declare that you are bankrupt (and you're not an existing customer). They do not credit check. The account has no credit facilities.

The Insolvency Service Guide to Bankruptcy states:

After the bankruptcy order, you may open a new bank or building society account but you should tell them you are bankrupt; they may impose conditions and limitations. You should ensure you do not obtain overdraft facilities without informing the bank that you are bankrupt, or write cheques which are likely to be dishonoured.

jenni75

Hi


The post office told me that I had to ring the child benefit or another benefit line to request a invitation to have the application for the post office account for benefits. They said they do not accept applications without the invitation. They do accept all benefits though, so it may be worth trying that.

Jen

louiser123

have you tried rbs, they have a step account and a basic savings account instant access savings. they accepted us when we went BR in 2001 and we have been with them ever since.

with the instant access you get cheque book, cash machine card and can pay direct debits and standing orders and have salary, benefits ect paid in.
we also got the gold deposit account same as the above but without the cheque book, they knew we were BR as we told them opened same day as br .

hope that helps

dvs

Martin has started a thread about Improving Money Rules. He's asked that we suggest and vote (by way of thanks) ideas that could make life easier financially. He plans to take the most popular ideas to members of paliament.

K2nga posted a suggestion that is quite relevant to this thread. Her suggestion is that everyone should be able to get a basic bank account regardless of their financial past. This would, for example, include bankrupts and would mean that we should be able to get a basic bank account with all major banks.

If you agree, click thanks on this K2nga's Post.

fiveyearplan

I really don't see where the risk lies with giving anyone a basic account - even one with debit card facilities. The bank controls what money can go out of the account thus ensuring that it never goes overdrawn by not allowing debit transactions or cash withdrawals if there is no money in the account.

philnicandamy

fiveyearplan wrote: »

I really don't see where the risk lies with giving anyone a basic account - even one with debit card facilities. The bank controls what money can go out of the account thus ensuring that it never goes overdrawn by not allowing debit transactions or cash withdrawals if there is no money in the account.

I totally agree.....but try telling the banking industry that :rolleyes:

whippetman_2

Hi

Managed to get myself a nationwide instant access savings account, so at least I can pay my benefits in. It comes with a cash point card but cannot use as a debit card or use any direct debits or standing orders.

So thats the most problematic part sorted.

Thanks for all the help.

Matt

philnicandamy

Well done Matt....its a small start (BUT a good result!)

fiveyearplan

Ditto, at least its a start!