Bank account

upset_iva

Why are we penalised if in an iva , we can only have basic bank account .
In this day and age it is extremley dangerous to keep on going to cash machine to draw out money and have to carry cash around with you .
I have a pre pay cash card but again you have to withdraw money out to put on , so you are carrying cash around.
Also i tried to get a mobile phone contract , but most companies will only want you to have a debit card and wont accept the pre pay card.
I am not looking for extra credit but i want to be able to purchase weekly shopping/fuel etc without having to carry money around with me .
They do not tell you this sencerio when you enter an iva , i am 3 years into iva and have tried to update my basic account with abbey as it has been kept in good order , but got refused .:(

adfax

Try opening an account with either Co-op or Barclays; both are IVA-friendly.

I opened my Co-op account when I was applying for an IVA - I told them that I was having problems and applying for an IVA and there were no problems. I get internet banking and a debit card.

I also opened a Barclays account when I was a few months into my IVA - again, no problems and I get a debit card.

Just make sure you tell them you want a basic account with no overdraft and no chequebook.

Good luck.

nolongerinthered

Santander (aka Abbey) are also IVA friendly, they gave me a bank account and £100 for switching to them, no questions asked!

upset_iva

Thanks for your advice , have contacted barclays who have said they will not issue a debit card just a cash card . Also co-op will give debit card but it is elcectron visa which a lot of shops and petrol stations do not accept .

3431Anna

adfax wrote: »

Try opening an account with either Co-op or Barclays; both are IVA-friendly.

I opened my Co-op account when I was applying for an IVA - I told them that I was having problems and applying for an IVA and there were no problems. I get internet banking and a debit card.

I also opened a Barclays account when I was a few months into my IVA - again, no problems and I get a debit card.

Just make sure you tell them you want a basic account with no overdraft and no chequebook.

Good luck.

just a quick question, why can't you have a cheque book when you have entered into an iva

upset_iva

not allowed they will only give you cash card , i think this is so you cannot pay for something when you dont have funds in your account making you overdrawn .

RuthnJasper

I'm also 3 years into my IVA and have an account with NatWest.

I guess they need you to prove that you've learned a lesson and aren't going to "stitch them up" with bad debt and insolvency. Still, it's a right old bu99er, isn't it?! When I moved house I had to pay a walloping great deposit to BT to get a 'phone connection... :wall:

Ah well, only two more years to go - then I can get rid of the key meters which haemorrhage cash on electricity and gas in the winter months...! :dance:

Good luck to you. x

adfax

It is true that some people have had problems - myself included - with the Co-op card.

The Visa card issued by Co-op is no longer an electron card, but some merchants still think it is! The places I have had problems are Kwik-Fit and Asda pay-at-the-pump. Not a massive problem really.

Re cheque books - I think it is to do with the fact that this is in theory a way of going overdrawn, although without a cheque guarantee card I am not sure how this could happen.

One thing to be aware of with Co-op is their 'three strikes' rule - that is, if you have three payments refused due to insufficient funds - they will close your account!

james32_uk

Going back 3 years now but a number of us applied successfully for a Citibank current account with a debit card. Worth a try maybe?

jsmith9156

james23_uk wrote: »

Going back 3 years now but a number of us applied successfully for a Citibank current account with a debit card. Worth a try maybe?

Looking on the Bank Account board it seems that Citibank are being a lot more picky about approving people.

James

stressedtothelimit

i have a barclays account with a visa debit card - went in and spoke to them, told them about IVA - they were really helpful. Just have basic bank account but do have visa debit card which is all I need!