Welcome to the forum moneymakesworldgoround.

Just to confirm, you're wanting to check you can continue to use current accounts with RBS or Lloyds TSB after you sign a trust deed?

I think your concern is whether they're linked with the Tesco account that is a debt which will be included in a trust deed if you proceed?

Hi there,
Absolutely i need to check whether they are linked
thankds TDA

Are Tesco anything to do with the RBS?

Otherwise if you don't owe anything to the RBS you will be fine keeping that going

hi tinsoldier,
thanks for the reply, i heard a rumour somewhere that rbs were or still is part of in some way with Tesco, just need to clarify.

There definitely was a link between RBS Group and Tesco Personal Finance.

They're listed as operating under separate banking licences on the FSA website now so all should be OK.

To be double sure you may wish to check with Tesco yourself.

That protects you from the right of set-off where a bank can dip into your current account to pay off a debt with them that is in arrears.

The other issue is whether you'll be able to keep the accounts that you have right now. Not all bank accounts are available to persons in a trust deed so there is a risk of disruption if they were to find out and close your account later. This is a particular risk if the current accounts have any kind of credit facilities.

Hi Moneymakesworldgoround

I agree with TDA. Having an RBS a/c will not pose a problem even though you have a Tesco debt, but you need to make sure your account has no overdraft. You need a basic account with no overdraft, but still the ability to pay standing orders/direct debits etc.