Bank account advice help!!!

luvchocolate

the co op are great the online is fine...I did close my old accounts down, was in credit and put this into co op account, I also closed my credit card account myself, it was clear, might sound daft but it was important to me that I did this myself, my B.R was about a year in the planning so I was well prepared. Due the brilliant advice on here xx

Welshexile100

Is it acceptable to open the coop account in advance of BR and can it be done online ??

dojoman

Welshexile100 wrote: »

Is it acceptable to open the coop account in advance of BR and can it be done online ??

Yes it has to be opened prior to going BR otherwise you will not be able to open one. No you cannot open it online.

"To request an application pack call us on 0345 602 7057 (call charges), alternatively call into your nearest branch "

The above is from their website for the Cashminder account.

alltaken

Just to update. Barclays will allow anyone to continue running a basic account even with debt elsewhere with Barclays.

Coop bank cashminder allow opening before bankruptcy not whilst insolvent. The advice regarding not disclosing that you are going to become bankrupt, whilst I understand it, it's not nessacary and doesn't impact the application. Coop are cut and dry on either bankrupt or not and any plans don't matter (I just opened my coop account declaring my plans and after they checked their position I'm fine to keep it).

I thought Barclays would close my basic account due to debts with them, but have been told account will remain regardless of debts with them as the government directive is something they seek to follow.

dojoman

alltaken wrote: »

Just to update. Barclays will allow anyone to continue running a basic account even with debt elsewhere with Barclays.

Coop bank cashminder allow opening before bankruptcy not whilst insolvent. The advice regarding not disclosing that you are going to become bankrupt, whilst I understand it, it's not nessacary and doesn't impact the application. Coop are cut and dry on either bankrupt or not and any plans don't matter (I just opened my coop account declaring my plans and after they checked their position I'm fine to keep it).

I thought Barclays would close my basic account due to debts with them, but have been told account will remain regardless of debts with them as the government directive is something they seek to follow.

Barclays have always allowed you to open a basic account after BR, I did 6 years ago when I went BR and was allowed a basic account with them although they were one of my creditors. You will lose access to online and phone banking unless you are lucky and slip through the net. You do not need to declare anything to Coop about your future plans.

G192

Just my experience on this subject here. When I went bankrupt I already had a barclays basic cash card account. I owed barclays personal finance around 6k so to be safe I opened a cashminder account with the coop a month before I went bankrupt. When I went bankrupt I had a total in both accounts of about 300 but had just been paid from work the day before. The OR simply said that was my wages towards living expenses and wrote to both banks saying he didn't have any interest in the accounts. Neither account was frozen and even though my debt with barclays went in with my bankruptcy they haven't closed the account although I lost Internet banking. So now I have two accounts so I use one where I transfer money for must pay bills such as utilities council tax etc and the other for spending like groceries and petrol and kids and stuff.
I find this works well for me.
To go back to the original question if you have a coop cash minder or barclays cash card account and not too much money in them then hopefully the account will be safe after bankruptcy.