BR Friendly Bank Accounts ~ [Updated Sep 2012 re: Co-op Cashminder withdrawal]

bionic_woman_69

hi, my husband is about to go bankrupt. he has business accounts with the co op and a cashminder account with the co op, he does not owe the co op any money- he does owe Barclays. does anyone know if the co op shuts down your business account. he doesn't have an over draft and doesn't owe them any money. a bankruptcy expert told us he can continue with his business but it will be hard without a bank account as everyone pays him via streamline and paypal.
any advice gratefully appreciated.

Louk

Hi, I was just looking on the co-op website for my nearest branch and it came up with a Britannia branch in my home town, the nearest co-ops are in different towns some trek away, can I open a cash minder account there?

alastairq

Why not do it over the phone?

toffeepop

Will a credit union account be a good alternative to a basic bank account after BR? Looking at the North Wales Credit Union. It looks like they offer online banking and a debit card.

TheGardener

toffeepop wrote: »

Will a credit union account be a good alternative to a basic bank account after BR? Looking at the North Wales Credit Union. It looks like they offer online banking and a debit card.

I'm a huge fan of CU's and if your local CU offers those facilities (mine is just savings and small loans) then absolutely they are suitable. I intend to keep mine on even after discharge - if more people used this kind of financial service, it would make the big high street banks think again. I'm lucky that my employer has a payrole deduction scheme for our CU which works really well for me.:)

toffeepop

Fantastic - I will start there and apparently they offer childrens accounts too - (for when we have some money to put in them!)

ianbalby

been thinking of setting up a cooperative account - becoming quite a serious banking options

Spud_Basher

Hi, I am thinking about going bankrupt as soon as I can get the money together, probably in about a month. I am currently reliant on working and child tax credits, child benefit, housing benefit and child maintenance paid through CSA. I am also a sole trader but not making any money at the moment.

Having read as much as I can about new bank accounts I am reading that the co-op cashminder might be the best as I would really prefer internet banking access. It seems from what I have read that if you open an account before you go BR that you may be able to keep it. So my question is ....

Would it work for me to open the co-op cashminder now and have all my above benefits paid into that account from now, therefore establishing the account before I go BR and enabling me access to my benefits which I read are exempt from being taken anyway?

I just want to be able to access my benefits as quickly as possible after BR and not get into debt paying my rent and I also wonder if you just open the cashminder account and don't use it then do the co-op not have a reason to allow you to keep it?

I owe money to my current bank RBS (not on my personal account but on my business acount I am in overdraft and have a credit card), I also owe on utility bills and old credit cards.

Thanks for any help.

alastairq

Co-op have now updated their online [and mobile, I assume?] bankaccount services to include current available balance...a 'real-time' balance....frightening!

john1002

Mobile and telephone banking services will be introduced at a later date the online message when you log in says.

John