Questions you have before making a decision to go Bankrupt and the Bankruptcy process

Moderators: TalbotWoods, JaneClack

By billykeats
#2584 I have been quite shocked at the speed with which my new Co-Operative Cashminder account has been opened.

I was made bankrupt last week and the earliest I could get to a Co-Operative bank was last Saturday. They filled out the forms on the computer. Didn't need any identification from me even though I had brought loads. Must be something to do with the Electoral Roll or something. Told I would get a something in the post during the week.

Then yesterday evening (Thursday) when I got home there was a letter with my new bank card for me to use. Completely shocked. So got my internet banking all set up ready to use. Just have to transfer everything over now

So much for the 6-8 weeks that some people experienced on this forum. Can't understand why. Feel sorry for those people who had to wait so long
By Pineapple
#2585 I'm glad it's speeded up. The waiting time was around April. I think there were particular groups of people needing to open that sort of account around that time. Mine took about six weeks, but in the meantime I had the Nationwide Flex. Although it has only a cashcard, in my opinion the internet banking facilities are better.
BySonic
#2590 You're lucky, Billy, I've had a nightmare trying to open a Co-op account.

I telephoned to ask what ID I needed - was told 2 pieces. So I went in to my local branch and was then told I didn't have enough I'D - but they could start the application and I could send the ID later.

I've since had a letter from them listing all the ID I need to send them - which needs to be 'authorised' by a doctor/teacher/authority figure, etc - within 14 days! I can't go into my local branch as it's closed, and anyone I know who could authorise it is on holiday!

What a ridiculous palava! Not sure if I can be bothered now! :(
ByDavidc
#2592
billykeats wrote:I have been quite shocked at the speed with which my new Co-Operative Cashminder account has been opened.

I was made bankrupt last week and the earliest I could get to a Co-Operative bank was last Saturday. They filled out the forms on the computer. Didn't need any identification from me even though I had brought loads. Must be something to do with the Electoral Roll or something. Told I would get a something in the post during the week.

Then yesterday evening (Thursday) when I got home there was a letter with my new bank card for me to use. Completely shocked. So got my internet banking all set up ready to use. Just have to transfer everything over now

So much for the 6-8 weeks that some people experienced on this forum. Can't understand why. Feel sorry for those people who had to wait so long

Rationing by quota. did the same thing at Barclays a few years ago.
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By JaneClack
#2600 Sadnskint - what a palver, you are quite right. Best thing I've seen mentioned here is open a Natiownide flexaccount cash card - almost overnight - and then take the time for your cashminder with its useful electron card. Better than being in debt though, isn't it!
BySonic
#2602 Thanks Sarah - and I hope you're out of hospital and fully recovered now?

Yep, I've got a Nationwide account with internet banking which is great, and have a Woolwich account with an electron card (also opened on the spot)- so I use the former to pay all my bills etc out of, and when I get paid I transfer the monthly 'ration' for food, clothing etc to the Woolwich account.

I find this a good way to manage my money - and yes, sure is one heck of a lot better than being in debt!
By Pineapple
#2603
sadnskint wrote:Thanks Sarah - and I hope you're out of hospital and fully recovered now?

Yep, I've got a Nationwide account with internet banking which is great, and have a Woolwich account with an electron card (also opened on the spot)- so I use the former to pay all my bills etc out of, and when I get paid I transfer the monthly 'ration' for food, clothing etc to the Woolwich account.

I find this a good way to manage my money - and yes, sure is one heck of a lot better than being in debt!


Isn't it just? I got a Nationwide account opened within a couple of days. It wasn't really a problem to wait the few weeks till my Cashminder was opened. But in fact, I hardly use the Cashminder because some of the internet sites I use won't take Electron, and just rely on the Nationwide's internet banking and very prompt cheque service.

But mostly, I really enjoy paying cash. :D
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By JaneClack
#2642 I too use the Nationwide account and find it very useful. I have now existed for two years without needing a cheque book (although I have to admit I do use a credit card that is cleared in full every month)... I am looking forward to the day when I can start saving though.....
By Dan C
#2655 Hi guys,

Can I just ask, can the Co-op Electron card be used online? I am trying to change insurance, Tesco looks the cheapest, I can pay by monthly by DD but the initial payment has to be by credit or debit card. I have a flexaccount, but the cardcash thing won't help me here. Also, now that I have been discharged, is there anywhere that will give me a proper debit card?

Thanks

Dan
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By JaneClack
#2658 It is unlikely that you would be given a debit card quickly after discharge but using an account responsibly will lead to one being issued eventually - the Nationwide does so after a while. I have now declined to have my Nationwide cashcard account upgraded as I am doing well on the basic one and this was offered not asked for. Although not a bankrupt my credit rating was very poor and I did have difficulties opening an account three or so years ago. Some people will accept electron, others won't - you will just have to see. It will come, I promise!