Bankruptcy friendly Bank Account

Wannabedebtfree21

Hi guys,

Online bankruptcy application is now showing ‘ready to submit’. 

I obviously need a basic bank account to make sure I still receive my income once the OR freezes my Current accounts, my main banking is with Santander. 

Can anyone recommend a basic account. I was looking at HSBC but after speaking to someone in customer services I wasn’t filled with confidence.

Sonic101

From what I've been reading, Nationwide, Barclays and the Co-operative Bank are "bankrupt friendly" and offer basic accounts for bankrupts.

Wannabedebtfree21

I have an existing Monzo account, is this classed as a basic account, or would it likely be frozen? 

Bluecar2

I had a Monzo account and then opened a Nationwide as soon as the Bankruptcy had gone through, both have been really good

fatbelly

Monzo should be fine

JCS1

Just to clarify, it is the bank who decides whether to freeze an account or not, rather than the OR.

luvchocolate

Sonic101 said:

From what I've been reading, Nationwide, Barclays and the Co-operative Bank are "bankrupt friendly" and offer basic accounts for bankrupts.

I agree with the above 

Wannabedebtfree21

JCS1 said:

Just to clarify, it is the bank who decides whether to freeze an account or not, rather than the OR.

It is yes. Sorry just worded it wrong. I have been informed from my current bank my account will be frozen until they decide whether to allow me to continue using my account with them. 

Now, after speaking to Stepchange, they tell me I must not open a new account until after the. Bankruptcy  is confirmed by the Official receiver? And must continue to use and have my wages paid into my current account, but wouldn’t that mean I would lose my income for a week or 2. 

The reason I haven’t hit submit yet is because I am soooo confused about what to do, majority of the bills, including food shopping for the family comes from my wage, not having that money is not an option!! So am I allowed to move my income to my monzo account for example and still have access to it? 

James-may

I got s HSBC basic account 

Wannabedebtfree21

Yeh I have opened an HSBC account. And spoken to the insolvency service, who have stated the basic account will not be frozen. If the bank do, then apparently I need to make an urgent call to the IS who will get in touch with the bank and request they unfreeze the account

Wannabedebtfree21

James-may said:

I got s HSBC basic account 

Did you have any issues accessing your account or even money when you were declared bankrupt, if in fact you did declare bankruptcy?