Bank Account for a Discharged Bankrupt?

debtsrus

Hi All,

Can anyone recommend a bank which will allow discharged bankrupts - like me, to open a current account? I have held a cash account with Barclays since I went bankrupt nearly three years ago. I've tried to upgrade by going along to a local branch and talking to one of the staff but I might as well be talking to a man on the moon.

I do have the option of writing to them and explaining my position, which I'm in the process of doing to see if that might help, but I wondered if anyone here on the forum has been in the same position and had favourable results with another bank.

Any advice would be most welcome.

Thanks

Cass85

You would most likely be able to get a basic bank account which most banks should offer. There is no credit score carried out, but they do the usual ID/ fraud checks that wouldnt impact your credit file.

Bear in mind such a bank account wont have an overdraft facility, cheque book or debit card but it would allow for credits in and things like direct debits, standing orders and bill payments to be taken out.

Be careful though- although you do not have the facility to go overdrawn, if you do not manage your account properly you could still be charged unpaid item fees for not having enough money in your account to cover D/Ds. The D/Ds wont be paid and you could still be charged for it.

Good luck!

debtsrus

Thanks for your quick reply.

This sounds like the cash account I already have with Barclays. I read somewhere that there were some banks offering accounts to individuals trying to rebuild their credit, that offered a bit more than just a basic account.

Thanks again for your response.

jonesMUFCforever

Some banks will not want your custom - so don't upset Barclays.

BASFORDLAD

Just stick with what you got or for a building society account

Anthorn

Stick with what you have more by necessity than by choice for another 3 years. After that (total of 6 years) the bankruptcy will fall off your credit file and no-one will be any the wiser unless you volunteer the information.

Upon discharge the creditors included in the bankruptcy should have been contacted with proof of the discharge so that debts recorded by the CRAs can be marked as satisfied.

Right now you should be working on rebuilding your credit file: Vanquis Bank accept credit card applications from discharged bankrupts. It's unlikely that you will get a mobile phone contract but you could try it. Mail order catalogues might be easier.

Lastly, get your credit reports and see what's on there. There should be a note saying that you are discharged. If not provide them with proof of discharge so they can do that.

diamond8

Hi there,

I realise this is a late post, but I hope you manage to read it.

I too have been in your situation a few years back and was lucky enough to be told by someone that The Co-operative Bank offered a Cashminder Account for discharged bankrupts that offers a Debit Card (Visa) with the account. They still offer these accounts and there customer service has always been very good and helpful to me. I still have my account to this day, as I was also able to set up online banking and set up Direct Debits/Standing Orders/Pay Bills etc.

Have a look online at the account and what is offered. They will not decline you.

Hope this helps!