Open a fresh start account with Suits Me before, during or after entering an IVA
Opening a new account is one of the first steps to a debt free future and in many cases a requirement before entering an IVA. If you have any debt or an overdraft on your current bank account, you may be required to open a new account before an IVA application can be confirmed. Many high street banks will reject applicants where an existing debt with another provider remains unpaid and immediately decline applicants who are already in an IVA agreement, but don’t fret, there is another option!
Why get a prepaid card when you have an IVA?
There are many reasons why the Suits Me prepaid debit card is a great option if you have an IVA:
- Open your account in minutes
- No credit checks
- Full account functionality
- Earn cashback on purchases
- Manage your money
- Fresh start account with no risk of further debt
When you open your Suits Me account, we will not ask for your financial history (such as your credit score, information about bankruptcy, and whether you’re in an IVA). All we need from you is a photo ID and your contact details – it’s as simple as that. We also accept 99.8% of all applicants who apply for a current account with us.
Opening your account is easy!
Choose an account to open
Let’s figure out the best account for you
Just 10 Mins and a selfie to open your account
All we need is your completed application and your ID to get you up and running
3 Ways to manage your finances
A contactless Mastercard® debit card and access to online and mobile banking
How will our current accounts work for you & your IVA?
We don’t offer credit – which means no credit cards, overdrafts, interest payments or late fees. With no credit at risk, we don’t need to check your financial history and/or confirm your address.
The only things we need to do to open your account is confirm your identity and take an address so we know where to send your debit card.
A Suits Me e-money current account comes with all the banking features of a traditional bank account such as direct debits, standing orders and Faster Payments. You’ll also gain access to online banking and our mobile app that allows you to manage your money on the go, 24/7.
We don’t believe you should lose out on additional benefits that are often offered by banking providers if you have an IVA, which is why our exclusive cashback reward programme is accessible to all our account holders – regardless of your personal circumstances or financial position.Sign Up Now
Everything you need to know about banking with an IVA
When you’re in the IVA process, you’ll be aware that you need to close your personal bank account, which can be incredibly frustrating.
This is due to the fact that traditional banks can be reluctant to offer people in IVAs bank accounts – the same way they’re unlikely to offer services to people with particularly poor credit history and are bankrupt.
This is one of the many contributions to financial exclusion around the UK, where people cannot access even basic banking options. Below are some frequently asked questions about how an IVA can affect your personal finance.
Open Your Account Today
Don’t let an IVA stop you from successfully managing your money
We won’t force you to jump through hoops when you open your Suits Me e-money current account. We don’t require proof of UK address and we don’t carry out a credit check. If you apply today your account will be open in under 10 minutes.
As soon as your account is open, you’ll gain instant access to your sort-code and account number, an array of banking features and online banking and mobile banking to be able to start managing your money and finances. Your Suits Me Mastercard® debit card will then arrive in the post 3-5 days later.
So, what are you waiting for? Open your account today to support you in your debt-free journey.Apply now