Going DMP - Bank A/c questions

trulymadlydeeply_indebt!

Hi there. I've booked an interview with CCCS for next week with the intention (hopefully) of being accepted for a DMP. Can anybody answer a couple of questions for me please?

I wondered if I have to have my new Bank account by then?

We live in a small town with no Co-operative bank. How do you manage to pay funds into the A/c - are they affiliated with somebody else in order to pay funds in? Can it be run online? Do you receive a card for using at the hole-in-the-wall?

What are your experiences with NatWest Step Account? We have a NatWest in town but I'd rather not go there as I used to work for RBS and the staff in local NWB know I'm ex-staff and I'm not sure if I could cope with them gossiping.

I'm off to work now but I will read all your replies when I'm back later this evening.

Thanks in advance.

TMD xx

fermi

If you mean the Co-op Cashminder account, then it does have internet/phone banking, a cash/Electron debit card, plus as it is a basic account you can pay in cash and cheques and withdraw cash at a post office.

EDIT: Link here: The Co-operative Bank | Cashminder

shinyhead

Hi TMDIT,
If your existing account is going to be included in your DMP for paying off overdraft then it would be a good idea to set a new one up ASAP so you can get any DDs SOs and so on transferred plus of course any pay and tax credits etc. If existing bank account is going onto DMP and you don't then any income will be sucked in to pay off overdraft meaning nothing for DDs and basically no money! Talk through this with CCCS next week. I had same problem and they simply deffered my DMP start by a month. Just don't let on to your existing bank what is happening until you're happy that everything has gone across.

trulymadlydeeply_indebt!

fermi wrote: »

If you mean the Co-op Cashminder account, then it does have internet/phone banking, a cash/Electron debit card, plus as it is a basic account you can pay in cash and cheques and withdraw cash at a post office.

EDIT: Link here: The Co-operative Bank | Cashminder

Cheers Fermi

Brill! I go to the Post Office each week for savings stamps for my car tax so I could do everything in one go. I'll look at the link shortly and see what's involved and apply online. I'll assume I don't need to mention DMP unless someone tells me otherwise.

Thanks again

TMD xx

trulymadlydeeply_indebt!

shinyhead wrote: »

Hi TMDIT,
If your existing account is going to be included in your DMP for paying off overdraft then it would be a good idea to set a new one up ASAP so you can get any DDs SOs and so on transferred plus of course any pay and tax credits etc. If existing bank account is going onto DMP and you don't then any income will be sucked in to pay off overdraft meaning nothing for DDs and basically no money! Talk through this with CCCS next week. I had same problem and they simply deffered my DMP start by a month. Just don't let on to your existing bank what is happening until you're happy that everything has gone across.

Thanks Shinyhead. Yeah, our existing accounts are going to be included in the DMP so I'll get to work on opening an account this evening so hopefully I'll have some space before the next batch of DD's go out. I'd completely forgotten about Tax Credits and OH's salary - thanks for the heads up.

Cheers

TMD xx

trulymadlydeeply_indebt!

Just off the phone - I'm now a proud owner of a Cashbuilder account for me and OH. Don't even need to send any paperwork for verification so all's well.

Should have the new account details by Tuesday in time for CCCS interview.

Thanks for your help. :A

Gemmzie

Good luck and don't forget to join us on the DMP Support Thread