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07/10/2016 2:30 pm
Finished TD, applied to the Co-operative for a 'Savings Account' (not credit) and they refused after doing a credit check. I have held a basic account with them for the past 3 years.
The irony is that prior to my TD I had an 'excellent' credit rating and was up to my eye balls in debt! Now I'm debt free, they won't allow me to have a basic online 'savings account' so I can be sensible with my money! You couldn't make it up.
Anyway, my question is this, can anyone tell me who will allow me to have a simple savings account post TD? And...why would a bank run a credit check for a savings account that doesn't involve getting any credit? I don't even have an overdraft with them. It's easier to get a credit card than a savings account...Don;t think that's right some how....
Vickie Smith
07/10/2016 3:15 pm
Hi Lisa,
I think most people have been able to get a savings account OK one way or another.
Would you consider taking out a separate basic account (rather than a savings account) to keep this money in? If it isn't a lot of money, the interest rates available on savings currently are pretty paltry so it may not cost you much to do it this way.
Perhaps not all banks run credit checks, but they are potentially exposed in the event they handle significant sums of money that a client should have handed over to their trustee. This is the only reason I can think of for doing this.
Hopefully someone can make a suggestion of a genuine savings account for you.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
07/10/2016 6:37 pm
Hi, we got ours with Yorkshire Building Society while we were both still bankrupt
j smith
08/10/2016 3:18 pm
I think you were just unlucky , I opened a account With the BCP bank here in Portugal and it was up in running in 30 minutes and pin and card arrived within 7 days a credit check did not even come into the conversation try First direct I had no problems opening a account with them whilst in a trust deed and even got a £700 free overdraft.[:0]
