Basic Bank Account in Bankruptcy

[Honeypot]

Hello All. I have decided that BR is the best option for me. Does anyone have any advice/experience regarding gaining a bank account whilst bankrupt?I have reseached on the web and found that only CO-OP and Barclays offer these accounts however my problem is that I have debts with both these banks that will be included in my BR order.I would be grateful for any advice.Thanks Honeypot

[toddle2u]

Try a Natwest Step Account

[Crocdoc]

Santander Basic Account, however open it in advance of Bankruptcy and do not intimate your intention when applying.

[Crocdoc]

Santander Basic Account, however do in advance of Bankruptcy and don't intimate your intention when applying.

 

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[martin2006]

i'm not 100% certain but if you open any other account prior to your BR, it will be included in your BR.

 

I think you need to wait till at least the day BR is declared before opening a new account.

 

If i'm wrong i apologise, but that is my understanding. I'm certain you will be put right by someone with greater knowledge.

[Honeypot]

Thanks crocdoci am with Santander at the moment with a basic account and really happy with them.Do I need to tell them Ii'm bankrupt?Will they find out?

[Honeypot]

Hi Martin 2006 What do you mean when you say that any account opened prior to BR will be included in it? My Santander account doesn't have any credit attached to it...

[martin2006]

I think the OR will want to know about every account you have, as i said, i'm not certain. Have a read thru some of the BR cases on here.

[Honeypot]

Thanks Martin2006I think the OR will want to know about every account I have. I hope because it is a basic bank account then i will be allowed to keep it!Then again I suppose it's up to Santander whether I can keep it or not...

[debtinfo]

Ok the situation is this,

 

Co-op and Barclys are the only banks that regularly offer accounts to bankrupts

 

Natwest are a bit hit and miss but worth a try

 

Santander generally do not

 

Co-op- do not offer accounts if they have a debt in the bankruptcy

 

Barclays will give you an account even if you have a debt of theirs in the bankruptcy, and is probably the one to go for

 

but dont open it until the day after bankruptcy as banks have a right of set off on the day of bankuptcy which could mean they could take the money in it on that day towards their debt

 

hope that helps

[Crocdoc]

I have never had a problem with Santander closing basisc accounts in the event of Bankruptcy, so long as the account is open in advance of the event.

[debtinfo]

And you told them when you became bankrupt, and you put the account down in the bankruptcy forms

[Crocdoc]

Sorry if I misled you, I am not Bankrupt, I am however regularly involved in the procedure in Scotland. To answer the point made.

 

1) Basic account in advance of application.

2) Declare it on the Bankruptcy application form including the balance, which in Scotland should always be under £1000.00.

 

As there can be no borrowing on a basic account and assuming that there is no debt to that particular bank on other accounts, I have never come accross a problem with Sanatander.