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Scottish Trust Deed Forum
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Topic starter
18/07/2015 1:04 pm
Hi there,
Looking for some advice. Nearing the end of my Trust Deed. I have two more payments to go- August and September. My husband took out a Trust Deed at the same time also. I have a bank account with Secure Trust and my husband has a bank card for this account too. We received a letter from Secure Trust this week to say they are no longer offering this service to customers and my husbands card will cease to work as of mid September. I pay 12.50 each month for this account and if we want my husband to have an account we will need to pay another 12.50. So my question is, how soon after a trust deed finishes will we be able to open up a bank account with one of the High Street banks? Also, my son is 15 and is keen to open up an account but I have put him off because I presumed he would be declined because of our financial situation. Any advice greatly appreciated.
18/07/2015 5:21 pm
Hi Debtnomore.
Most of the High St banks offer a basic account that's available to people in trust deeds. The Co-op Cashminder is an example, and many people speak positively about the basic Barclays account also. So... I think you could do it now.
I don't think your son will be declined. Credit ratings are personal rather than address related.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
18/07/2015 6:42 pm
Thank you for getting back to me so quickly.
18/07/2015 10:07 pm
I think co op and Barclays are good choices for accounts, especially if you are paying for your current one.
Bank accounts can be a wee bit tricky sometimes before or after the trust deed, but not to the point of paying £150+ per year for having one.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
21/07/2015 10:28 am
Co op cashminder is decent. Free and online plys a mobile app.
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
Topic starter
25/07/2015 2:45 pm
We did have an account with Co-op which we opened just before starting Trust Deed. Unfortunately we went overdrawn three times so they closed our account. I then applied for Nationwide but they would not proceed because of Trust Deed. I will try Barclays, thanks. Secure Trust has been a good option for us. We have to load our card with money. It has made us much better at keeping track of our money. We can check balance and load card with money via text which has been quick and easy. We have also earned cash back each month which usually covers the 12.50 fee.
