Co-op bank withdraws from bankrupts market
Date published: 17 September 2012
Undischarged bankrupts will no longer have a choice over where they can access a bank account as Co-op withdraws from the market.
Only the Co-op and Barclays offered accounts to those who are undischarged bankrupts - generally the 12 months after a bankruptcy order is made.
The former has said it will no longer accept new customers of this type, blaming an "un-level playing field".
It said existing customers in this situation would not be affected.
People who have been made bankrupt are generally only allowed to open a basic bank account.
These accounts do not offer overdrafts. Some have a debit card, but only with limited facilities. They do not incur a monthly fee.
There are about 20 basic bank accounts available, but now only Barclays allows undischarged bankrupts to sign up.
The Co-op argued that all banks should work equally to offer help to those who have been financially excluded.
Do you have a story for us?
Let us know by emailing news@rochdaleonline.co.uk
All contact will be treated in confidence.
Most Viewed News Stories
- 1Ask Citizens Advice: How can I keep track of my spending better this year?
- 2Snow and ice warning for Rochdale & Greater Manchester
- 3Police arrest drug driver after pursuit
- 4Century-old town centre pub could soon become apartments
- 5Detectives make an arrest and appeal for more information following fatal stabbing in Rochdale
To contact the Rochdale Online news desk, email news@rochdaleonline.co.uk or visit our news submission page.
To get the latest news on your desktop or mobile, follow Rochdale Online on Twitter and Facebook.
