Quick question - post office card account

mummytotwo_3

As you all know we are going br on the 25/1. My wages are due the friday before all £240!!! Anyway, we are due hubbys ijsa and my cb into our natwest account the day after, and ctc on the friday.

Im wandering whether his post office card account will be safe for us to use for these benefits or will the or stop us from using this account too?

Have applied for a co-op cashminder account but am not sure we are going to get it (as our mortgage is with a subsidary and has arrears) and really would prefer barclays, but as they are a small part of our creditors £900 out of £45,000, dont want to approach them until after bankruptcy, especially as they have already closed our current account with them begining of last year.

Any thoughts would be appreciated. xx

fiveyearplan

I believe post office accounts are only for benefits so it should be okay. Do you owe Natwest any money, overdraft etc?

mummytotwo_3

No not a penny, we only have a solo card with them too.

book12

Barclays and Co-op are bankrupt friendly banks. People on this forum are successful in getting a Barclays account, despite oweing money to them. The account you should get with Barlcays is the 'Cash Card Account'. It comes with a debit card if you are wondering (don't be mislead by the name). When you are bankrupt, Barclays won't allow online banking, but will be reinstated when bankruptcy is over. As for the Co-op account (Cashminder), you get online banking and a debit card.

A lot of people seem to be successful in getting the Co-op/Barclays account, when they are in your type of situation.

I think the Post Office accounts are ok to put your benefits in.

Natwest accounts now offers a Visa debit card. You could call up to have one. Just say it's damaged or lost.

dollparts

Just to further what others have said, post office card accounts are fine to have your benefits paid into.

You need to contact the agency that pays the benefit eg tax credit/income support etc and they will arrange for a card account to be opened. They then make the nessacary arrangements to pay your money into the account and voila, another job jobbed!

Hope this helps:)

mummytotwo_3

Thanks for your replies everyone, just starting to panic thats all because the day after bankruptcy we are due £142 between hubbys jobseekers and my child benefit and want to be able to access it or we are sunk before we even begin on the journey over the next 12 months!!!!

Have been looking into both co-op and barclays. Awaiting the co-op decision on a joint account. Although im seriously considering having just sole accounts!!!!!!

fermi

The bottom line from the OR's own guidance.

http://www.insolvency.gov.uk/freedomofinformation/technical/casehelpmanual/B/BanksBuildingSocietiesCreditChargeCards.htm

viii Post office card account
A post office card account is operated by Citibank International PLC through the post office and can only be used to receive benefit, state pensions and tax credit payments. There is no overdraft facility on this account, and no other payments, such as wages, can be paid into it. No credit checks are undertaken when the account is opened. The official receiver will therefore have no interest in the balance of such an account and should not take the cash card for one of these accounts from a bankrupt.

mummytotwo_3

Thanks for that Fermi, its what i pretty much thought, although heard this morning our co-op cashminder application had been accepted.