Opening a basic bank account

Anxietyoverload

Hi guys,

As some may have read on my other threads I’m looking at applying for a DRO. I currently have debts with my current bank account (a credit card, loan and overdraft). My next payment due out for that is on the 16th. I’ve already not paid my aqua credit card this month (was due on the 1st) and am getting around 5 calls a day from them at the moment and currently have not answered their calls.

I was advised to inform my creditors I was seeking debt advice and to freeze interest etc on my accounts for 30 days I think it is to give me the breathing space and look into token payments on a temporary basis. I’m desperately trying to get a basic bank account open but I’m struggling with my ID as I don’t have any photo ID and waiting on a benefit entitlement letter with my full name instead of just the initial.

This is only the first month I have not paid creditors. I didn’t want to tell my bank to freeze for now as I have benefits due in on the 21st then my wages on 27th and don’t want them to take them from me or freeze my account and not allow me access to my money. What is likely to happen if I withdraw my money on the 15th and cancel my loan direct debit? Will my bank freeze my account and take my money? How soon will another bank allow me to open a basic account once the ID is sorted? Some of the banks I’ve explained my situation too have said I have to apply for a current account first and if declined I would be offered a basic account. As it’s only my first month of not paying I’m not sure my credit file is bad enough for them to not give me a current account?

Any advice greatly appreciated as this is all new to me.

sourcrates

Hi,


Banks don`t work that way, and certainly not that quickly, serious overthinking going on here, you need to get a new bank account pronto, but your current bank won`t freeze anything for quite some time, if at all.

mwarby

Get a new bank account, then move the money, then cancel the direct debits. As long as you don't get the new bank account in a place where you have debt you'll be fine