From my experience you can go with any bank that will take you. I switched from Nationwide to Barclays 3 months into my PTD and have remained there since. Barclays were more than welcoming and did not seem to have an issue with the PTD and treated me fairly. I would recommend them for a free basic account while your in your PTD.

I have just been accepted for a basic cash account with the bank of Scotland but wasn't sure if I could use it or not because of the PTD. Thanks for your help

Hi Alison.

Most banks offer a basic account that's available to people while they're in trust deeds.

Hi Alison,

You're fine to bank wherever you choose providing the bank isn't one of your creditors, or a previous bank account provider. If this is the case then you're best to look elsewhere for your new acount.

Thank you

Hi Steven,
Lloyds tsb were 1 of my creditors and when applying for a bank of Scotland account I noticed in the small print it said something about being part of the 'lloyds banking group' does this mean that lloyds and bank of Scotland are the same company? I have been accepted for an account with bank of Scotland and thinking of joining but don't want any hassle from lloyds if they are the same company.

Hi Alison

As mentioned above, it is always safer opening an account with a bank who are not a creditor or connected to a creditor. However if you apply and are accepted, i assume that they will have carried out their own credit checks and agreed the account.

Mark

Hi again,
Sorry so will it be ok to go ahead with this new bank account since bank of Scotland have agreed to it even tho it's part of the lloyds group?

Hi Alison.

They're part of the same group of companies, rather than being the same company.

If you check you should find that they operate from different banking licences.

So long as you've applied for the most basic account I think you're very unlikely to experience any issues.

Hi Alison,

As a precaution you could open up a second account in the event that there is a problem with the Bank of Scotland.

That way if something does happen with your account you can quickly change things over.