informing bank of BR

dollparts

OR has just called and arranged date for telephone interview.

They told me they will not freeze my co-op account but I should inform them myself. I always thought that It was the OR that did this but I'm obviously wrong about that.

So, I am going to phone co-op today and inform them. How long is my account likely to be frozen for? I've got DD's going out early next week and don't want to have the payments bounced.

Can anyone advise please?

philnicandamy

You are indeed correct.....the OR will usually inform banks etc IF they take an interest in accounts...because its a basic account the OR probably isnt interested in it...you could phone the co-op but to be honest? they probably wont bother...IF by some strange chance the account is frozen then the OR can fax details over of no interest to the co-op usually around 24hrs or so..

dollparts

philnicandamy wrote: »

You are indeed correct.....the OR will usually inform banks etc IF they take an interest in accounts...because its a basic account the OR probably isnt interested in it...you could phone the co-op but to be honest? they probably wont bother...IF by some strange chance the account is frozen then the OR can fax details over of no interest to the co-op usually around 24hrs or so..

So am I ok to use the account? I've had wages and CTC paid into today and am worried I will get into trouble if I withdraw any money?

I asked the OR this and although she was quite nice she wouldn't be drawn on whether she had an interest in the account just that I should let them know myself?

I don't want to do anything that will get me in trouble but at the same time I have to do the grocery shop this weekend and pay for petrol too.

dollparts

and I've just had a quick read of Fermi's sticky and she advises not to touch it at all after BR until I have received clear notification that it's ok.

Oh god, this is a nightmare.

skylight

My Natwest Step; yes I know that I am lucky in keeping it.

My OR told me they had no interest in the account and I should call them to tell them of my BR. I didn't and I am still using the account today with no problems at all.



In your quick interview today you have had clear notification from the OR they will not freeze the account. Its OK to use it. Co-Op are BR friendly anyway, so if you wanted to tell them they would probably not be that fussed at all.

Don't worry about it and use it.

dollparts

all the OR would say was that it 'wasn't the OR's decision to make and that I should contact them.

So she hasn't expressly given me permission to use it has she?

Ergo I shouldn't?

skylight

She has.

Its the ORs decision to freeze the account or not. Thats what they do.
The Co-Op (and every bank in the land) has a right to give you an account or not. They can also close that account whenever they like and for anyone. Coutts could close HM's account if they really felt like it and just because. This is what the OR means that its not their decision on the account.

Co-Op are not going to be bothered by this. Okay, I should say they should not be bothered as I guess there is always a first time. If you would feel better about it, then perhaps call them and let them know about your BR. Lots of people here have not.

MicheH

Doll did you set up the cashminder account before BR? Is that the one where talking about? I don't see any OR having any problems with you using yourmoney to live off and pay bills or direct debits.

Our accounts were used a couple of days after BR as direct debits hadn't been changed in time and those were the ones with big overdrafts. OR knew about it and made a note.

Personally I think who ever you have spoken to hasn't been very helpful and I feel they've read from a manual instead of using common sense to help you or explain in laymans terms as I like to put it.

I would call the bank, note that conversation and note that you contacted the OR and that conversation and don't worry.

It's scary because you just don't want to get into trouble for any little mistake.. but it's common sense that you have to use your account as life goes on.

philnicandamy

and one other thing to remember now your bankrupt.....you can still travel....you can still shop at aldi/tesco/waitrose/asda/netto etc etc :rotfl:

all your doing is trying to cover yourself and thats good...but dont stress too much about it i'll bet the co-op dont bother when they hear the news