bank account

seana

hi
going br in a couple of mths.i have a current account with barclays
(dont owe them any money) should i cancel this account now and open a basic one with barclays or wait till after br

alastairq

yes..open a basic account, either with BArclay's or Co-op [Cashminder]...transfer all DD's, in's 'n outs, etc...then I would simply leave the other account alone....in a corner....sitting sadly contemplating the passing word....oh dear, its the medication, sorry...


Barclays will not allow internet access whist undischarged BR.

Co-op Cashminder does have internet access, but they won't open one for an undischarged BR....

Bella_Smythe

hahaha Alistair
to clarify, if you have a co-op cashminder up and running prior to BR, will they let you keep on with it and not close it down when you go BR and stuff?

luvchocolate

thats correct, hope you are ok x

Eve1975

Wait. When I went bankrupt I had all my accounts shut down, including my Barclays one. If you open a new one now it will only be shut down again when bankrupt. I literally went back down to Barclays the next day and opened a new basic account.

Make sure you remove all funds from your bank before your day in court.

alastairq

If you open a new one now it will only be shut down again when bankrupt.

That statement is not entirely accurate.

Whilst some banks will instantly freeze any sort of account once BR is made known, neither Barclays [with their basic account] or Co-op [with their Cashminder basic account] will freeze, or close the accounts on BR.

What is suggested above is an extreme, and possibly an old idea based on experience of BR from quite a long time ago.

Co-op will not close an account [Cashminder] which is opened prior to BR, especially.

Co-op have had a change of policy recently [based on being so popular with a certain segment of the economic population]...whereby they will NOT open a Cashminder basic account to an undischarged BR.

Barclays are still not quite so fussy.

However, where such accounts can be closed occurs when they are mismanaged, according to the relevant bank's rules.


Any bank account which can have access to an overdraught [whether taken up or not] and has a cheque book facility will be frozen...since these will not be basic bank accounts.

I speak from experience of the above, having opened, and had no trouble with, two Co-op Cashminder accounts prior to BR...and that experience is shared by many contributors to this forum.

The same experiences have been noted by contributors using Barclays basic bank accounts.

[Although Barclays are reluctant to maintain internet access whilst undischarged.]

Eve1975

I was with Barclays when I went bankrupt and had to open a new one as the other one was shut down. My account was not mismanaged in any way.

This was 6 years ago.

I was also with Halifax as my child had an account with them which I had to fight to get the money back from it.

hindleyblue

I opened a Braclays basic account the day after I went bankrupt. Although the blurb says you can have internet banking, I was told categorically I had to be discharged to get it.

Anyway on the advice of a friend, they said now the accounts up and running, just apply anyway. Went online, requested internet banking and it was appproved straight away.

Personally I think Barclays offers everything you need - fee free account, visa debit card & now internet & phone banking.

And part of my bankruptcy was the £70,000 I owed them!