Discharged - Bank Account

Head_Burried

I'm recently discharged from bankruptcy with no IPA. I've posted another thread on here with my story in hope it may help others.

I have a question of my own though:

I currently have a CashMinder account with Co-Op which I had prior to bankruptcy and was kept open. I've used this throughout the year as my main account which my salary is paid into and direct debits go out of.

I'm hoping to swap this to a 'normal' current account as I would qualify for the Everyday Rewards programme.

If I contact the bank are they likely to accept me? Has anybody else swapped accounts after being discharged and if so how long did you wait?

luvchocolate

Hi I was also with co op during BR and they would not upgrade before the 6 year mark when BR would come of my credit file.
I waited until 6 years after BR and opened a current account with Yorkshire Bank.
Until the 6 year mark I think you will struggle.....but Yorkshire Building Society but give me a savings account after discharge which the co op would not.

mwarby

I had to wait several years after my IVA until nationwide would upgrade me, I tried a few banks over the years (the iva was only a few months) with the IVA on file and none were interested in giving a mainstream account. You might have more luck if you stick to one bank, but I wouldn't hold your breath

KeepOnKnitting

luvchocolate wrote: »

... Yorkshire Building Society but give me a savings account after discharge which the co op would not.

I think it was the co-op that I also had this trouble with. I had to write to them and point out that not offering me a savings account was illogical, as I wanted to GIVE them my money, not borrow theirs. They relented and opened a saver for me after that.

wildheart83

I had an account with Santander (originally an Alliance & Leicester account) at the time of bankruptcy. They assured me that the account would be closed, and if they let me keep it open I would have to go into branch to lift money. Neither happened, and in a way I was very lucky to keep a full (non basic) account open - this isn't the norm. I struggled with opening a new account. I think I opened a basic account with Barclays then they let me upgrade it after a couple of years.

WickedWitch123

I've been with Co-op since my BR and they have said they won't upgrade me until my 6 years which is July 2020. Barclays say the same.

Head_Burried

Thanks for the replies.

As expected, co-op won't upgrade my account until the 6 years is up. They did however re-open my Online ISA which was automatically closed upon going bankrupt.

It looks like I'll need to wait another 5 years then before any bank will accept me for a 'normal' current account.

Head (not so) burried

woolythoughts

Maybe I was lucky

Has a co-op account whilst BR.

As soon as I was discharged with no IPA, Barclays let me open an account (and they were my biggest creditor after HMRC)

I had an aqua and a vanquish card soon followed by a capital one.

Within three years I had normal banking and normal credit.

terrence45

I opened a normal Nationwide account 6 months after bankruptcy (had a basic one with them). Selected the 0 overdraft option and had no problems. Also opened a savings account and Capital One credit card with £200 limit.