Basic banking
Question
I been discharged from bankruptcy and would like to get a bank account so I can get my wages paid in and have direct debits going out. I'm finding it difficult because of my poor credit record, is there a particular bank or building society I can go to?
Answer
Most banks are going to be wary about allowing you to open an account that has an overdraft facility after bankruptcy. You'll need to look for basic bank accounts which allow you to pay money in and set up direct debits, but don't have any credit facilities attached.
You may find that the bank is resistant to letting you open one of these accounts, not because of your credit record, but because they are costly to administer and there's very little chance of you being able to borrow money.
To find an account, Citizens Advice Bureau (CAB) produce a leaflet about basic bank accounts, together with a list of banks and building societies that operate the accounts and their acceptance criteria.
Updated: 13/04/2010
Question answered by CAB
