How difficult is it to open a bank account in Ireland after a bankruptcy (UK or ROI)?

S

Steve Thatcher

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I am often asked how difficult it is to open a bank account after a bankruptcy order made either in the UK or Ireland. I am afraid I don't know the answer to that. Is there any experience of this on the forum and if so which banks are best to approach or avoid.

Thanks

Steve Thatcher
 
I went to Ulster Bank in Dublin and told them upfront that I'd gone bankrupt in Northern Ireland and had since been discharged - they asked about how it happened (and if I owed them anything which I didn't) and they set me up with an account. Very happy with them.
 
I would second Ulster Bank. The others were all dismissive because I was not employed at the time, being unemployed is a big no no where the other banks are concerned.
 
Hi Time / Flipster

My husband and I tried to open a bank account with Ulster Bank - and after initially looking good - we were refused on Friday. We provided confirmation of discharge etc and were fully transparent throughout. UB weren't one of our unsecured creditors. The girl we were dealing with in UB was very surprised herself that we were refused the standard account. Our uk bankruptcy was as a result of shortfall on PPR. I'm just wondering what UB branch you used?
Thanks
 
Just opened a BOI account, was adjudicated bankrupt 3 weeks ago. it took approximtely two and a half weeks. I was told that there was no issue with opening it, just that a number of specific people had to approve it. I got the picture that they were not used to the process and that is what took the time.
 
Thanks for your reply Stuboy. Looks like BOI will be our next port of call. I'm just wondering are you working at the moment. As in, I wonder would it be better to get a job before trying to open it with BOI?
 
Margot Tenembaum said:
Thanks for your reply Stuboy. Looks like BOI will be our next port of call. I'm just wondering are you working at the moment. As in, I wonder would it be better to get a job before trying to open it with BOI?
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Yes am working but wife, also bankrupt, is a student and had no problem either
 
Thanks for responding again Stuboy - that's very good news. We were a bit knocked from the Ulster Bank rejection. We'll try BOI - fingers crossed. Good luck to you and your wife with your bankruptcy!!!
 
Stuboy said:
Just opened a BOI account, was adjudicated bankrupt 3 weeks ago.
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Well done BofI. And shame on Ulster bank. People need bank accounts and just because they have been bankrupt they shouldn't be denied them. How are people to function.

Margot T - if that is your real name I suggest you change it, you don't want people knowing your business.
 
No point being bitter Margot, banks eh, but you cannot live without them. Try a different branch or try another bank. Ulster once turned me down for a credit card, no reason given, and a perfect record, I actually think that was the problem, I had no intention of paying any interest.

If you really want to push it, try under freedom of information to get your data file from them. Might be something in there, but most of the time it's a box ticking exercise by a machine that rejects you.
 
Hi Bronte

You're correct about the dangers of becoming embittered. Bitterness is a toxic emotion. I think we'll try to get a job first and then apply to BOI.
 
That's the spirit and well done on coming out the other side of bankruptcy. And best of luck with the job hunting. (when you're more sorted and stuff you might let us know how you came to be bankrupty and how it was to go through it. - invaluable for others who are trying to get to where you are at - I saw Ivan Yates on tv at the weekend, very angry man with the banks, despite his positive facade)
 
hi Guys, are Ulster not in process of removing their branches from Ireland? that may have been a factor.
re: sharing experiences, this is absolutely essential. I found it very hard to get any information about what it was like to go through bankruptcy in ireland from a personal perspective. So, keep sharing!
 
Hi Stuboy

We went through the UK system. The most important factor for us - besides the time span - was to avoid an Income Payment Order at all costs.
 
I see that Joan burton has raised the possibility of reducing the three year term of bankruptcy. Its far too long. And the 5 year payment order is too long also
 
Hi Bronte

If the income payment order is set up when going through bankruptcy in Ireland then you have to make payments to your creditors for a further 5 yrs.

It's 3 yrs in the uk and as far as I am aware it is easier to avoid it there
 
As
Bronte said:
No need to give your personal circumstances but can you outline why this income payment order is so negative.
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someone on a payment order we have enough money for the basics, that's it. Also. That will be all for 5 years. Cant save. We were planning to emigrate within 5 years but that is now no longer possible either. However, if its reduced to 1 and 3 years as per the indo article, this would be back on the table. Payment order equals bare existence.
 
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