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telegraph cryptic xword 20 nov.
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Bank accounts for bankrupt people
Recently I have been made bankrupt I am having problems finding a bank that will let me set up an account. Does anyone know what bank I can use or where I can get some advice.
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(Thu 14:08 02/Jul/09)
You need this document from the Financial Services Authority: http://www.moneymadeclear.fsa.gov.uk/pdfs/bank _accounts.pdf In particular, see the last column of the table on page 4, which indicates the categories of people who are unable to get each type of account. You'll see that 'undischarged bankrupt' appears against every account except for these two: Barclays Cash Card Account Cooperative Cashminder So it seems that you ought to try getting one of those two accounts. I've got a Barclays Cash Card Account and, while I'm not bankrupt, I don't recall any questions about bankruptcy on the application form. If you get the leaflet from a branch of Barclays it will probably only show that you can withdraw cash from ATMs at Barclays Bank or at the Post Office. That's not actually true; the card works in any UK cash machine. Interestingly, that FSA document states that you can get a debit card (rather than just a cash machine card) with the Barclays Cash Card Account. That wasn't the case when I opened my account (several years ago) but it looks like things might have changed for the better. Hoping this helps, Chris |
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(Thu 21:20 02/Jul/09)
Just to add - don't try this if you owe the bank (or associated credit card etc.) any money. The debt will probably be in the bankruptcy and if so they won't be able to grab money from the new account, but they may well refuse to open an account. The Co-op usually gives an Electron card with its Cashminder - which can be used like a debit card in quite a lot of places. |
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(Thu 21:22 02/Jul/09) rbs basic account. you are advised to open an account before you go bankrupt as it is a lot easier to do so. most banks require either a letter from the offical receiver to say you are undergoing proceedings or you pay for a discharge letter after you are discharged (costs about �80). good luck - i know what a pain in the arse it can be and you will get there in the end x | |
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(Fri 13:41 03/Jul/09)
Question Author
Thanks everyone. This also ties in with the following website so I think I now have all the information that I need. http://www.piggybankrupt.co.uk/Bankruptcy/bank ruptcy_bank_account.html I cannot believe that I read somewhere that I could be guaranteed a bank account if I pay them about �160!!!! They were probably only going to arrange one of the prepaid cards for me, how annoying! A BIG thank-you to you all. |
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(Fri 13:41 03/Jul/09)
Question Author
I'm now off to the co-op.
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(Thu 11:40 09/Jul/09)
If you are claiming & being paid benefit you can ask them to send you a Post office card account invite document. This is a basic account & not usable for DDs. |
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