DRO and new bank account

Taff2121

good afternoon.

I am half way through a DRO and wondered if you are able to open up a Monzo bank account whilst in an active DRO? every month i seem to have issues with my current bank and wondered if i could open another? that’s if i would even be accepted for a basic account.. any help would be appreciated. 

Brie

I don't see why you couldn't open a Monzo account as long as they are happy to have you.  I doubt they will be concerned about the DRO as long as you weren't asking for an overdraft (do they even offer those?).

RAS

Try as I think some of those with IVAs have signed up. If not the Co-op and Barclays used to be bankrupt friendly, albeit basic accounts only.

johnjs88

Taff2121 said:

good afternoon.

I am half way through a DRO and wondered if you are able to open up a Monzo bank account whilst in an active DRO? every month i seem to have issues with my current bank and wondered if i could open another? that’s if i would even be accepted for a basic account.. any help would be appreciated. 

I have a bank account with Monzo and have an active DRO.

I decided to make the swap from Revolut as I couldn't find anything on how they handle customers during Insolvency and their chat support didn't seem to know anything either.

johnjs88

Monzo told me that Insolvent customers are welcome to bank with them but lending services will be restricted while insolvent.

They told me I have no access to any lending for the near future, just basic banking.

Which is completely fine, all I need.

johnjs88

I believe you have to make Monzo aware of your DRO if you are still within the Moratorium period and not discharged.