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



## Steve Thatcher (21 Feb 2014)

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


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## fliptzer (12 Apr 2014)

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.


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## Time (12 Apr 2014)

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.


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## Margot Tenembaum (23 Feb 2015)

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


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## Stuboy (23 Feb 2015)

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.


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## Margot Tenembaum (23 Feb 2015)

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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## Stuboy (23 Feb 2015)

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?


Yes am working but wife, also bankrupt, is a student and had no problem either


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## Margot Tenembaum (23 Feb 2015)

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!!!


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## Bronte (24 Feb 2015)

Stuboy said:


> Just opened a BOI account, was adjudicated bankrupt 3 weeks ago.


 
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_.


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## Margot Tenembaum (24 Feb 2015)

Hi Bronte

Thanks for the advice - Margot Tenenbaum is a character from The Royal Tenenbaums.


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## Bronte (24 Feb 2015)

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.


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## Margot Tenembaum (24 Feb 2015)

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.


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## Bronte (24 Feb 2015)

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)


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## Stuboy (26 Feb 2015)

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!


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## 44brendan (26 Feb 2015)

Stuboy said:


> hi Guys, are Ulster not in process of removing their branches from Ireland?


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## Margot Tenembaum (26 Feb 2015)

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.


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## Stuboy (27 Feb 2015)

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


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## Bronte (27 Feb 2015)

Margot Tenembaum said:


> Hi Stuboy
> 
> The most important factor for us - besides the time span - was to avoid an Income Payment Order at all costs.


 
No need to give your personal circumstances but can you outline why this income payment order is so negative.


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## no_moolah (28 Feb 2015)

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


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## Stuboy (2 Mar 2015)

As





Bronte said:


> No need to give your personal circumstances but can you outline why this income payment order is so negative.


 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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## Bronte (2 Mar 2015)

Presumably you mean this article Stuboy:

http://www.independent.ie/business/...tcy-period-to-one-year-proposed-31032742.html

Not sure why the picture accompaigning it had to be of Seanie when he lives a far different life to most normal bankrupts.

It seems then that in Ireland the 5 year income payment order which comes into effect after many many years of barely stuggling is very penal.  Basically people will have been at least 10 years all told under financial and emotional stress.  And also that in Ireland the income payment order is 'standard' where as in the UK is is more unlikely.

Do you regret not going to the UK Stuboy?  Bare existence and not being able to save to emigrate must be very difficult. 

*Insolvency Service*

They have 95 staff and sorted out 1000 cases in 2014.  That's a case load of 10 a year.  Or not even one a month.


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## Matthew Moore (3 Mar 2015)

Bronte said:


> And also that in Ireland the income payment order is 'standard' where as in the UK is is more unlikely.



Bronte, an IPO in England will last 3 years and the last time I checked the living allowances are less generous than in Ireland. Between 20-25% of bankruptcies result in an IPA/IPO in England. It will be interesting to see what the average is in Ireland when we have a large amount to sample but it is by no means 'standard'.


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