Bankruptcy & third party bank accounts

TheGardener

Kimberley wrote: »

But I can’t open one whilst i have a current account with another bank.

I don't believe that's the case. I had 3 ordinary accounts when I opened my Barclays Basic in preparation from my BR and since then I have opened another basic account despite having 4 normal current accounts.
Perhaps its just Nationwide policy - or more likely an ill informed member of bank staff.

Try asking Barclays or the co-op for a basic account - you have to go into a bank to ask for these accounts, they are not generally available online. If anyone says you can't tell them you are going BR and need a basic account in preparation.

Kimberley

I have a CC with Barclays so I can’t

Kimberley

With a basic account do they have the switching service for DD and Standing Orders? If so what happens when they switch? Will Natwest stop it as I have an OD with them?

luvchocolate

No you cannot use the switching service for a basic bank account.

In my case I also had current accounts with 2 banks..I opened a basic account with coop and switched all my direct debits and wage over ...once all was in place I closed the current account and then went B.R.
if its planned well B.R will be a positive and less stressful experience

Kimberley

So if I open a new current account with Nationwide and get them to switch my DD and SO and wages, wait until that 7 days is up and they have all been switched over, I can then do my BR application.

luvchocolate

No.....you need to open a basic account...move D.D yourself and when all ok close your other account...then go B.R.

to confirm you need a basic account

Kimberley

luvchocolate wrote: »

No.....you need to open a basic account...move D.D yourself and when all ok close your other account...then go B.R.

to confirm you need a basic account

But I cannot do that. No banks are allowing me to open a basic one whilst I have a current account. The only option then is to open one after my BR application ☹️ This is stressing me out

Helpmeoutofthismess

luvchocolate wrote: »

No.....you need to open a basic account...move D.D yourself and when all ok close your other account...then go B.R.

to confirm you need a basic account

You can use the switching service but make sure you cancel any direct debits/ standing orders to your previous creditors first. Open a flexbadic account with nationwide online. Just make sure you tick the box to say you are in financial difficulty and they should open it. You won't have an open account anyway, it will get closed when you switch. If you don't close it yourself, NatWest will probably close it quickly anyway. I had a basic account with them, I'd never owed them a penny but they shut the account within 2 weeks of declaring bankruptcy.

H x

Kimberley

Applied online but it said i will hear in the next 5 working days 😧 I just want to do the BR app now as i’m worried i will get baliffs. I’m getting depressed over all this 😩

realgonekid_2

Have any bailiffs been appointed by the county court?
Or just do your BR straight away and open a simple building society account.