A question about : Discharge bankruptcy and trying to open a savings account
Can anyone one advise me what to do with the following problem. I am a discharged bankrupt Discharge date was September 2010 and I am currently banking with the cooperative bank. Over the last 12 months my father in law died leaving a will and naming me as a trustee along with my husband who is a beneficiary. Due to reasons I cannot go into. the solicitor issued a cheque to us under joint names. The problem is the cooperative bank will not allow me to open a savings account in joint names because I do not pass the credit check with them even though I do have a cash isa with them. The cheque is a substantial amount and too much to put into a ISA but we need it to go in a savings account to keep it safe at the moment. I am very frustrated abut this and do not know what to do. I did try the Nationwide who do not do a credit check for savings account BUT I have to have a current account with them but failed the the credit check for this and was declined. Would appreciate any help in this matter because I am out of options.
Best answers:
- Yorkshire bank?
- I am in work tomorrow, so my husband will have to do the leg work now. I will tell him what you suggest
- I managed to get accounts with Yorkshire Building Society & Virgin Money - can apply online for both as long as you are on the electoral role for your current address.
- I have one with the yorkshire building society. It's an online saving account. I haven't had any problems with them.
- Most banks would fall over themselves to open an account to accept a 'substantial amount' of money. It might be worth asking to speak the 'wealth management' team of any of the major banks and explaining your situation. You may find they are more than happy to accommodate you - lets face it, there are plenty of wealthy entrepreneurs who have been BR and they don't seem to have a problem opening an account for them...another possibility is to speak to a good private financial advisor - they may be able to help you open an account with one of the London city banks.
- I'm not so sure, and i'm just speaking from a personal POV, but, I had no issues in setting up a savings account with Nat West. In fact, I could of set-up a savings account with all of the major banks that I inquired to.
The current account was the only account I was limited with, post BR. Barclay's, However, accepted me on my initial inquiry, even though they were a major creditor in my BR. - I get the impression some banks/BS's have recently altered their approach to BR and savings....
I opened a Co-op Smartsaver fairly soon after AD....no problem.
But with credit checks [for 'money laundering' purposes, they say] going on left right & centre, they may be getting more picky?
Certainly, car insurance has gone down that road. - I was also discharged in Dec 2010, I have a savings account with nationwide, Nationwide ISA and Barclays savings accounts. I had no problems in opening an account with them.
I bank with the Cooperative bank as well. I also have CC with Aqua which I have had for a yr and was credit checked for that. Have you checked your CRF's - Can you not go back to the solicitor and just ask them to reissue a new cheque?
- co op do one as that was what i had just rang on phone and done over the phone
- thats interesting, I have had 2 cashminder accounts for 3 years.....was discharged in August 2012 and they refused me a savings account upon discharge, I may try again.
Yorkshire building soc gave me one without a second thought, and no account with them, its all very strange! - Hi I applied in the branch,they gave me a Brittania isa, but rates have just dropped, getting better interest with Yorkshire bs, even allowing for tax on interest.
I will be getting my lump sum from pension next year, its crazy being so limited where I can put it to get some interest.
Think I will look again at my options - Go to Barclay's, they have opened a savings account and a normal bank account, also the Yorkshire Building Society
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