Banks Accounts with a DRO

Faloula92

Hi all. 
I'm currently in the process of going through a DRO.
My question is bank accounts once the DRO is accepted. I currently have a joint nationwide flexbasic (this was originally for bills) we then decided to open a joint natwest silver reward account for insurance etc. I have a sole account with natwest that I originally got paid into.

I've read different threads saying Natwest will close my accounts once they find out I'm in a DRO, is this true? I've contacted Natwest who reckon they won't close the accounts if I were to enter a DRO. So as you can imagine I'm very confused an I don't always trust what the banks say either. 

I'm worried they will close the account and the joint natwrst is what my partner gets paid into and about 90% of the household bills come out of this account.
Can anyone shed any light?
Thanks.

1977dave

Natwest are a law unto themselves, some people in a DRO are fine, some are downgraded to a basic account and some have their accounts closed

Can you change everything over to Nationwide? as they're one of the most DRO friendly banks. I opened my account just before my DRO and they were fine that I was about to enter one and now I'm discharged I'm going to stay with them and hopefully they'll let me upgrade in the future

sourcrates

Usually if you have a basic account, you will be fine.
If your bank is one of your creditors, then obviously the account will be closed.
Some banks confuse DRO as bankruptcy, and close accounts on that basis, your always best opening a new basic account well before hand, that way you avoid these kind of problems.

fatbelly

They used to downgrade their accounts to a basic. But your situation is different in that  it's a joint account.

We might question why your partner wants a financial link to someone who's insolvent.

But I think it gives a greater chance of the account being unaffected.

[Deleted User]

I used to work for Santander bank accounts and usually the bank account would get frozen if it had an overdraft and included in any DMP, DRO, IVA or Bankruptcy. However if there was no debt on the bank account it could be downgraded to remove any overdraft facility etc. I'm afraid it's really the banks discretion but as this is a joint account and if no debt or overdraft on it you may be fine.

Faloula92

1977dave said:

Natwest are a law unto themselves, some people in a DRO are fine, some are downgraded to a basic account and some have their accounts closed

Can you change everything over to Nationwide? as they're one of the most DRO friendly banks. I opened my account just before my DRO and they were fine that I was about to enter one and now I'm discharged I'm going to stay with them and hopefully they'll let me upgrade in the future

We are considering doing this as it seems like the bank that wouldn't cause any issues.