No Co-op. What now for imminent BRs?

Changling

I applied for a Cashminder yesterday and was accepted (by phone). The T&Cs on their website as of 9.00am yesterday were dated November 2011 and made no mention of BR. So I may qualify as an 'existing customer' when I go BR.
If they still kick me out, at least I had a go.
*Just giggling as my spellcheck made that last sentence quite rude. Fortunately I spotted it in time!*
I think it's disgraceful that convicted criminals can get basic accounts but BRs can't. I am not a criminal! :mad:
Ch
xx

Changling

BR_noob wrote: »

Apologies to any that shared Debtinfo's perception of my post. I was just naively asking if that was ok to do - obviously it isn't so I wouldn't dream of it! human nature makes such questions come into one's head so it's best to ask so I don't end up doing something wrong. I fully intend to cooperate with the OR office and be honest.

I know what you mean. Sometimes you have to ask a question just to understand the rules, boundaries and restrictions. It's difficult to decide between a 'smart' move and a 'sharp' move occasionally.
Ch

debtinfo

BR_noob wrote: »

Apologies to any that shared Debtinfo's perception of my post. I was just naively asking if that was ok to do - obviously it isn't so I wouldn't dream of it! human nature makes such questions come into one's head so it's best to ask so I don't end up doing something wrong. I fully intend to cooperate with the OR office and be honest.

Dont worry about it, that is why we are here to stop you doing something that might get yourself into trouble:)

fermi

BR_noob wrote: »

What if you opened a cash minder account pre-BR, didn't put it on your SOA, then the OR wouldn't have sight of it to tell them of your BR, and all will be ok? Surely they only know a customer has gone BR if they are told?

As debtinfo has alluded, you would be committing an offense if you do not disclose the account.

Plus most banks/financial institutions are likely to discover the bankruptcy sooner or later via other means. The CRAs, feed from the London Gazette etc... And if they find out about it from those sources as opposed to the OR, then that is likely to ring alarm bells with them. They would not want to be running an account for someone who may be hiding funds from the OR.

debt_doctor

It is indeed a blow for the COOP to remove this facility to undischarged BRs - although I do sort of see their point in the 'unfair burden'. As someone else has said, I can see Barclays throwing the towel in too.

On a better note, certainly local to me, I have seen a fair few Nat West customers KEEP their accounts in BR - not open new ones and our local Credit Union will allow undischarged BRs to open a new account, with the usual facilities, why not enquire with the credit union in your area.

DD

yellowmonkey

debt_doctor wrote: »

On a better note, certainly local to me, I have seen a fair few Nat West customers KEEP their accounts in BR -

DD

I kept my Nat West Step account. Still use it every month but only for personnal spending and to keep it ticking over.

I kinda see the Co Ops point but it does not help those going through a really stressfull time in their life just adds another worry

BR_noob

I am holding out hope that NatWest let me keep it- even if they downgrade me back to the 'step' account I'll be happy. I only upgraded because they changed the cash machine access to only NatWest and RBS machines which was quite annoying. I will open a Barclays cash account though just in case.

I totally don't get why BR folk can't have online banking- I mean, what's the worse someone can do because they have online banking....absolutely nothing- it's just a way of monitoring your finances and paying bills- I don't appreciate the rationale behind making it harder for BRs to manage their money! Counter-logic I'd say!

kepar

BASFORDLAD wrote: »

my partner as a previous BR has indeed
I cant tell you wheather you would be accepted for an account with a debit card, direct debits and Internet banking as a BR because each account offering by each building society is different, but i can assure you that what ever facility they may offer you would be accepted

Can you confirm whether your partner applied for these accounts before or after discharge.

Ineedaname

If you're thinking of trying to keep an existing account with any bank other than the Co-op then it might be wise to go open a Barclays Basic Account immediately after you have gone BR anyway. You can do it the same day as long as it is after your Court appearance.

That way, if the plug is pulled without warning at least you have another account in the process of being opened and should be left without banking for a shorter period of time.

I wouldn't be surprised if the Co-op amended it's rules fairly quickly when they see so many more customers signing up to their Cashminder account shortly before going BR and their market share of BRs not reducing by much as a result.

Although it is a huge blow for BRs at this time, I'm hopeful that their decision will eventually force changes and an industry regulation that all banks must offer BRs a basic account.