New Bank but no good ?

auldblerk

I've mistakenly opened a new [basic] Bank account with Clydesdale pre BR and was going to transfer salary and DDs over but found out later that Clydesdale don't like BR people and would probably close it down so opted for Coop Cashminder and opened an account with them as well.
The thing is, do you think I could still use the Clydesdale account just for EBay buying and selling or would the Bank and OR later take a dim view on this. I have 14 days option to cancel this account but seems a shame to do this.

Round_The_Bend

On the day of bankruptcy, the OR will likely advise that you can only retain one account that was previously open. Given what you have previously said, this should be the Co-op Cashminder. You can still use the Co-op account for Ebay or if you want a separate account for Ebaying, you could open a second Cashminder account after your bankruptcy, as the Co-op allow you to do this.

Hope this helps.

peachyprice

I'd leave it as it is, use your co-op for all your living expenses etc, and just wait and see what happens to the Clydesdale account.

If you haven't used it and there's no debt on it the OR may let you keep it, you're not restricted to just 1 account so you may be lucky enough to keep it, either way the OR won't take a dim view as you've done nothing wrong.

Dodger61

Most banks will close your acount once they know you are BR. They obtain the information from the London Gazette. The only two exceptions are Barclays and the Co-op. Your Clydesdale account will be closed, its only a matter of time and it doesnt matter if the account is a cashminder or not. Halifax and Nationwide are the worst, they do trawl the London Gazette to see if your name pops up. Best play it safe and open one of the above.

auldblerk

Thanks for advice everybody, have 14 days to think about it but will probably cancel the account [sigh]

DizzyDebbs

Oddly enough a few weeks before my BR and before I found you guys I opened at NatWest Step Account - transferred all my regular income and outgoings to it - used it once then found out about 'just having the one account, co-op blah blah' and used that - but never actually closed it...
But
My 12 months was up yesterday :T:j:D
and all they way through my BR year I kept getting the odd statement from NatWest showing my 0.09p balance!! So nothing happened to it.
So obviously they weren't bothered and the OR wasn't bothered!!
Hindsight is wonderful but if only I could have put my eBay sales money in there instead of sending to a friend to give me the odd bits of cash.
Saying that I did do the odd big transfer from PP to co-op to pay my road tax etc
and no one reared their ugly head and said 'Oi' :rolleyes:

Best be honest - I was by telling them about it.
maybe it was the +0.09p balance :rotfl:

auldblerk

An afterthought, how does the OR look upon E-Bay ?; I was selling then using PP money to buy stuff off E-Bay (even cat litter !), nothing spectacular in sums of money, at the most, £30 a month but haven't done it for a while due to sorting out finances etc.
Would this be included with everything else ?

Don't know what to do about the Clydesdale account now. Undecided.

Well done DizzyDebbs, what was the year like ?

Round_The_Bend

auldblerk wrote: »

An afterthought, how does the OR look upon E-Bay ?

As long as it's not a full fledged business with a large turnover, the OR won't be interested, so don't worry about it.

lisamummytoarchieplusbump

Dodger61 wrote: »

Most banks will close your acount once they know you are BR. They obtain the information from the London Gazette. The only two exceptions are Barclays and the Co-op. Your Clydesdale account will be closed, its only a matter of time and it doesnt matter if the account is a cashminder or not. Halifax and Nationwide are the worst, they do trawl the London Gazette to see if your name pops up. Best play it safe and open one of the above.

i had a natiowide cashminder account which is the basic one as i got it when i first left school and it got frozen when i went br but my child benefit went in there just after br so had to get the OR to unfreeze it but they sent me a letter saying that i could keep it open as the OR said they have no interest.

but went with co op as the nationwide card could only draw money out and put it in nothing else, no online/phone so was really annoying but had to use it as my other bank card was with one of my creditors

DizzyDebbs

If it wasnt for eBay I probably wouldn't have survived.
Sold clothes that dont fit and other bits and bobs and bought things I needed with the balance in my PP account.
Small amounts arent going to interest the OR and she never asked tbh (except on the initial phone interview).

The year has been a good back to basics lesson for me
I am off sick recovering from ME/FM so living on a small pension and a bit of IS
So it took me back to when I was a child - if you want something badly do without and save up.
Look for ways to save money and buy only what you need.
I think its been a hard lesson but a good one as I hope to head back to the workplace/study soon and will be saving rather than spending

auldblerk

DizzyDebbs wrote: »

If it wasnt for eBay I probably wouldn't have survived.
Sold clothes that dont fit and other bits and bobs and bought things I needed with the balance in my PP account.
Small amounts arent going to interest the OR and she never asked tbh (except on the initial phone interview).

The year has been a good back to basics lesson for me
I am off sick recovering from ME/FM so living on a small pension and a bit of IS
So it took me back to when I was a child - if you want something badly do without and save up.
Look for ways to save money and buy only what you need.
I think its been a hard lesson but a good one as I hope to head back to the workplace/study soon and will be saving rather than spending

I'm similar and small time with E-Bay; I get my clothes and cat litter mainly thru selling or get clothes from charity shop, can't remember the last time I bought any clothes 'brand new' where would the fun be in that ?

Hope you don't mind me asking but does the 'FM' stand for 'Fibromyalgia' [forgive spelling], it's just that I had a partner who had that and it was nasty. This horrible thing is not well recognised in the UK. :mad:
My sympathy to you if it is.