bank accounts

rennes123

Hi all, hubby is due to go br,does he have to open another bank account in his name,or can all dd/wages be transferred to my account,thanks in advance x

confused76

hi there
he doesn't have to have his own account, but he should be able to if he wants one. there are two known br friendly accounts, the coop cashminder and a barclays basic account. they are basic account with a visa card, no overdraft, no cheque book, but you are allowed standing orders and direct debits.

i've got the coop cashminder and it's fine, does everything i need

rennes123

Thanks confused,we have been reading up on br,now its become a reality. He has an overdraft,can he include that in his br? when does he open his new account? sorry about all the questions- is there any reason they can refuse to make him br?

MrOrchard

Open the new account as soon as possible is the best advice, have it "waiting". Natwest do a great Step account that I use.

confused76

rennes123 wrote: »

Thanks confused,we have been reading up on br,now its become a reality. He has an overdraft,can he include that in his br? when does he open his new account? sorry about all the questions- is there any reason they can refuse to make him br?

he should be ok to open it now (most people do) unless he owes money to them in which case he will need to wait until after br

the overdraft can be included

he won't be turned down for br providing that
1. he has taken advice, please speak to one of the free debt charities such as the national debtline, cccs or the cab
2. he is insolvent eg can't meet all his monthly outgoings and debts on his monthly income
3. forms are completed and the fee is paid in cash £600 (may be exempt from some of this if on certain benefits)

hope that helps

edit - when you approach the bank for the new account, say that you are going br just so they know

IF

Unfortunately MrO Natwest is not BR friendly.......confused has listed the only two BR friendly banks.

MrOrchard

They've obviously changed their minds since I got one in 2005 then!

rennes123

Thanks so much!! we have been pretty chilled till now,circumstances have changed so we now have to go br,to be honest we are crapping ourselves,its only hubby going br but we are in this together. The thing that worrys me is transfering all the dd/ wages payments in,from one bank to the other,esp mortgage,do we just cancel the whole lot at once and move them,what do we tell his current bank,omg....I am flapping now!

IF

MrOrchard wrote: »

They've obviously changed their minds since I got one in 2005 then!

They have unfortunately as did Nationwide.

MrOrchard

That's a shame, I recommended it to a couple of people on here recently, I shall remain quiet in future, thanks for the heads up. I'd still get one sooner rather than later Rennes.

rennes123

Thanks guys! will look into it next week,off to work now....no rest for the wicked eh! Thank god for this forum!!