Problems opening a current account

teenyteaspoon

Hi - New to the site & forum so hope this works!! Well I have been in an IVA since last September, before proceeding with my application I was advised to open a new current account, so I went along to Nationwide but they refused to open an account as I had a current account already, but I already had an old cashbuilder account so I transferred my salary to this account which has been fine but I have found out now this account will not allow me to set up a standing order or direct debit so I need to open a basic account but I keep getting refused due to my IVA - I have no idea what to do - I hope someone can suggest a way of opening a Basic no credit current account without having to go through a third party who it seems wants to charge me money.

Tixy

Hi

If you look at the list on page 5 of this link it should show who you can apply to http://www.moneymadeclear.fsa.gov.uk/pdfs/bank_accounts.pdf
From the looks of it co-op cashminder or Barclays cash card accounts look like they should both accept you, as they will accept undischarged bankrupts.

althas

I opened mine with Abbey National (Santandair whateveritisnow), and when I opened it was was totally open and told them I was in the process of doing an IVA and they said no problem at all. Been running for 6 months with S/O's and DD's. I did look at Nationwide but one of the questions they asked on the application was if you had been bankrupt or IVA. So I never bothered with them

I also believe Co-op do an account for IVA people

zebade

I am in a Protected Trust Deed (Scottish version of IVA) and i opened a basic account with Clydesdale Bank a few days after signing my deed with no problems. Ive been using it for 3 years now, with DD etc. You dont get a cheque book or overdrafts but its not an issue. Yorkshire Bank is part of the Clydesdale so may be worth giving them a shot.

Also i did avoid the banks i had in my deed ie RBS, HBOS & Lloyds.