Bank account after DRO

Stanai

I was given a DRO last February. I am in the 12 month stage atm. I have a classic current account with Lloyds, a basic current with Barclays and a basic current account with Nationwide. I am using the latter atm as they are rated 2nd on Which? after First Direct. I don't know if my Lloyds classic would be better for me to use as it isn't basic, but what is going to happen after the debt is written off in Feb 2019? Will I lose my bank accounts? Barclays said I could keep my basic current but wouldn't be able to use the mobile app. I'm not sure what Nationwide will do, and if I will lose my classic account with Lloyds as it is a better account than a basic.

fatbelly

Stanai wrote: »

I was given a DRO last February. I am in the 12 month stage atm. I have a classic current account with Lloyds, a basic current with Barclays and a basic current account with Nationwide. I am using the latter atm as they are rated 2nd on Which? after First Direct. I don't know if my Lloyds classic would be better for me to use as it isn't basic, but what is going to happen after the debt is written off in Feb 2019? Will I lose my bank accounts? Barclays said I could keep my basic current but wouldn't be able to use the mobile app. I'm not sure what Nationwide will do, and if I will lose my classic account with Lloyds as it is a better account than a basic.

I can't see why any bank would treat you worse after the moratorium finishes. At the 15-month stage your entry drops off the insolvency register. You would expect to be treated better.

I had a Lloyds Classic account, upgraded to Club. There's 1.5% interest, no fee if £1500 goes in each month and a free subscription to a magazine or other incentive thrown in. Just be careful your savings don't go over £1000 wile you are still in the DRO.

Craig1981

if they were going to close your accounts, they would be closed already. they wont close it afterwards