a good bank current account for a bad customer?

littleyellowbird

hey everyone, I'm new here, and have been reading a lot of the forum before joining, it seems very helpful. I have just literally had advice from a really good man at CAB and have decided to go for sequestration (i'm in Scotland where it seems easier and cheaper to go bankrupt - saying this, I have a fearful knot in my stomach and am nervously hoping i completed the form correctly and that i soon recieve a reply)

Maybe you can help - i need to open a new bank account fast before the situation worsens. problem is, I now need to avoid
co-operative, barclays and RBS.

I went into the the Bank of scotland, and if i get an overdraft i will be charged a pound a day, i want to avoid an OD of course, but if I need it I don't want to be penalised so much (obviously right now I still have a goodish credit rating so haven't told them about my new circumstances on the CAB advice)

Are there any good accounts anyone can recommend, that won't penalise me hugely? I really appreciate your help. Just heard HSBC were in the news, and also looked at nationwide. Anyone have any good recommendations? thanks:)

Tixy

To be honest I would go with a basic bank account and not think about an overdraft. You won't be allowed an OD/or any debt of over £250 anyway until you are discharged.
I would say that at the moment you would be better making sure you are living within your budget and not even thinking of the possibilty of credit.

If you open the account too soon though you may find it is removed from you on becoming bankrupt. Have CAB advised to open one already?

RAS

Hi

The only two banks that accept bankrupts are barclays and co-op. However if you go over to the BR forum they may help you. I believe that barclays may allow you to set up an account after BR, even if you owed them money prior to BR.

littleyellowbird

thanks for your replies. the CAB did advise this yes. i didn't realise it too may be closed down. I have been working in the same job for a year and 4 months, but my contract just ended so at the mo am recieving JSA which i get posted to me. Am worried about not having an account when I return to work, as I can probably go back to the same job in October, though I am obviously looking for one now also. yikes!

I also want to avoid an OD too, as its also debt. Right now I can just about pay rent and thats all. Lottery ticket time?!