Bank account closed and unable to open new one

lucystephens

Hi,

My bank account with AIB was closed yesterday due to defaulted loan repayments.

Just a bit of background,
I have been trying to reason with AIB since Christmas as my loan repayments where just too high for my salary at the time,leaving me little to live on. I asked to restructure the loan repayments but was refused. My job finished in May and I told AIB I would have trouble repaying the loans until I got my permanent job in September. I managed to get a job for a week last week and told them I would have money going in within the next two weeks.
I went in to see my branch three weeks ago to explain all this. The manager said to me at the time 'is there a little fairy that can help you out',something I felt very rude to say. I have been struggling on a minimum wage job for the last year, repaying my loans consistently while working and dont have a 'fairy' to bail me out like the banks did.
Sorry, I just needed to vent as I am very distressed over this.

My bank account with AIB is now closed.

I went into Bank of Ireland and Ulster bank to open a new account but have been refused as I am on the credit black list. I explained to them that I do not want to get out a loan/overdraft etc I just need a current account.

I am starting a well paid job next month and I need to give bank details so they can pay me. I am very worried now as I have no bank account and am wondering how I will get paid and money to live on?
Is there any bank that will accept me? What exactly are my options?Any help would be much appreciated. Thanks

GerardKeating

lucystephens wrote: »

Hi,

My bank account with AIB was closed yesterday due to defaulted loan repayments.

Just a bit of background,
I have been trying to reason with AIB since Christmas as my loan repayments where just too high for my salary at the time,leaving me little to live on. I asked to restructure the loan repayments but was refused. My job finished in May and I told AIB I would have trouble repaying the loans until I got my permanent job in September. I managed to get a job for a week last week and told them I would have money going in within the next two weeks.
I went in to see my branch three weeks ago to explain all this. The manager said to me at the time 'is there a little fairy that can help you out',something I felt very rude to say. I have been struggling on a minimum wage job for the last year, repaying my loans consistently while working and dont have a 'fairy' to bail me out like the banks did.
Sorry, I just needed to vent as I am very distressed over this.

My bank account with AIB is now closed.

I went into Bank of Ireland and Ulster bank to open a new account but have been refused as I am on the credit black list. I explained to them that I do not want to get out a loan/overdraft etc I just need a current account.

Actually do not NOT want a current accont, a CA can be overdrawn, so there is a credit risk with them. Try for a savings account, some haver ATM access

lucystephens wrote: »

I am starting a well paid job next month and I need to give bank details so they can pay me. I am very worried now as I have no bank account and am wondering how I will get paid and money to live on?
Is there any bank that will accept me? What exactly are my options?Any help would be much appreciated. Thanks

Try your local Credit Union, I think you can get your salary paid into a CU account.

gogo

I am assuming that you told them in the new banks about your AIB account, as most banks will not check your credit history when opening an account?
Did you explain to the Aib about the new job as I am very surprised they went ahead and closed your account knowing there would be wages mandated to it.
As above request a savings account, boi offer one with atm access, dont give them all the gory details, just request a normal savings account for your wages, if they suggest a current account say no thanks, its only for wages. You cant get into much hassel with a savings account.
In the meantime offer the Aib a repayment figure you can afford, say twenty a week and ask for a lodgement book for the loan account, while your credit rating will still be affected, this or any regular repayments should stop it going legal on you.
Good Luck.

stepbar

gogo wrote: »

I am assuming that you told them in the new banks about your AIB account, as most banks will not check your credit history when opening an account?

You don't know that so don't assume that the bank doesn't.


I suspect that there's more to this than meets the eye. I mean this has been going on since December of last year. Perhaps you could tell us how much the repayments were and what your net income was during this period?

Toots

Actually a lot of banks are now checking all new current accounts to see has there been any defaults from that person, with the way things are, they don't want to take on customers that would be classified as 'high risk'. What they may be willing to do for you, as GerardKeating said, is open you a deposit account. I know BOI definitely do what's called a 'demand deposit account' which comes with an ATM card and works exactly the same as a current account, as in you can lodge and withdraw from it. You can't get a Laser, set up Standing orders/direct debits, or go overdrawn on it.

Dempo1

Joining this thread a little late but I faced a similar problem just this week. Firstly i admitidily got into difficulty with banks primarly due to redundancy. I have opporated a fantastic current account with Post Bank for a number of years but like many other customers was notified of its closure shortly.

On attempting to open a new account at Ulster solely for the purposes of setting up direct debits (Mortgage etc) i was declined in the middle of my interview based on a bad credit report from the ICB, the process stopped immediately and i was advised i will face similar problems at other High Street banks, i was not looking or expecting any credit facilities and now face the difficulty of how i am going to set up direct debits, in particular i am concerned about my mortgage payments. I wondered does anyone have advice on wether or not i can pay directly into my mortgage account until i resolve this issue.

Thank you

kibalish

Dempo1, I recently had the same issue. I set up a new bank acc today in Ulster Bank, who were understanding that I had gotten behind on my student loans and the set me up with a Step Account-same as a normal current account but i have no credit facilities available. She did say that if I was unsuccessful that she would sort me out with a saving account that I could access anytime.
I had a youth saver account with them so I think it helped that they had my details.

Hope this helps!

dublin daz

National Irish Bank offer Personal Access. This account does not come with credit facilities and wont need a credit check with the ICB. If you applied for Easy or Freedom then you would need to consent to an ICB check even where you do not want credit available.

i would give the local NIB a call and see if they can open an account, their eBanking is one of the best and you still get an ATM card, just no debit card.

unclebill98

As said UB step account is a basic current account. Plenty have been opened for people in the same situation.

Lastly, all regulated products have a credit search done. This is said during the interview and you must consent to it to proceed.

Rebel1977

You can get a current account which stays in credit as it does not allow it to go overdrawn surprised they closed your accounts just like that