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How bankruptcy affects me

Bankruptcy and my bank account

You should still be able to have a bank account if you go bankrupt, but it will be a basic bank account.

During bankruptcy, your current bank is very unlikely to allow you to keep your account if you have an overdraft or other debts with them.

Even if you have no debts with them, most banks will close your account when you go bankrupt and it's likely your account will be frozen for 2-7 days while the official receiver dealing with your bankruptcy checks your transaction history.

You’ll normally have to open a new account with a different bank, and your choices may be limited. Our in-depth guide to bank accounts after bankruptcy explains what will happen to your account and where you can go for a replacement.

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