How long after discharge can I open a normal current/savings account?

SpicyChickenBaguette

I am still within my bankruptcy but my discharge date isn't far off. I currently have the Barclays 'basic' account (no overdraft, online banking but not mobile banking and not contactless).

I am not interested in an overdraft, but would like a contactless card and mobile banking (I understand Barclays will allow you access to mobile banking if you can prove you're discharged but not sure about contactless).

I'd also like to open a savings account to start putting money away once I start working again.

So...

- How long after discharge can I open a "normal" current account?
- How long after discharge can I open a "normal" savings account?
- Any recommended banks which are more welcoming to discharged bankrupts?

alltaken

You can do all of this now, open a flex basic account with nationwide.

Includes mobile and online banking, contactless card and you can open a savings account.

Barclays will allow you a contactless card if you go in branch.

SpicyChickenBaguette

alltaken wrote: »

You can do all of this now, open a flex basic account with nationwide.

Includes mobile and online banking, contactless card and you can open a savings account.

Barclays will allow you a contactless card if you go in branch.

Brilliant thanks. For some reason I always thought it was only Co-op and Barclays that allowed bankrupts to open accounts. I know the rules are supposed to have changed and all banks have signed up to be more flexible with bankrupts but thought that would be years before any real change

Johnsmith2016

You can get everything you asked for from either barclays or nationwide.
I opened barclays day after bankcruptcy and you get contactless, online and mobile - pre the new rules in dec 2015 some features were restricted.

There is no exact time of when you can get a normal (not basic) bank account. Although the barclays and nationwide do everything you want so why bother?
For a normal one its as soon as someone will accept you for one, there is no restriction your end. Clean up your credit file after discharge and get a vanquis card to rebuild credit and perhaps apply for a normal bank once your file has improved.

TheGardener

Things have changed recently re banking for BR's. Don't bother with 1st Direct or Tesco current accounts - I know from experience that they are not interested in ex-BR's. Flexdirect CA from Nationwide pays 5% interest for the 1st year (make sure you select £0 overdraft and no cheque book on the application) and gives access to their flexclusive 5% regular saver but you must be discharged.
Virgin Money seem to be happy with savings e-accounts and E-ISA's
You local credit union would be a very good/ethical savings option too and may be helpful incase you needed a small emergency loan.