Hi New-me,

As long as you don't have debt with the bank that you have your personal and business account with then there should not be any problems. I can't recommend a specific bank that you could use. You may or may not be able to get a cheque book it just depends on what bank you use. I would suggest opening the bank accounts as soon as you can.

Banks to avoid are Halifax/Bank of Scotland as they will freeze and close your bank account should they find out about your Trust Deed.

Also, Royal Bank of Scotland/NatWest are now freezing a person's bank account if they have been Sequestrated (made bankrupt). This hasn't happened in Trust Deeds but thought I would advise this.

The firm that you are signing your Trust Deed with should have advised you regarding all of this.

Do you already have a business account? I was unable to open a business account due to my Trust Deed.[:(]

Hello New-me and welcome.

To add to fcwalker's point, getting a business bank account (for a sole trader) has historically been something our members have struggled with.

However, as a sole trader you could perhaps use a second personal bank account for this purpose? Alternatively, as Chris suggests you may be able to get a business account open in advance with a bank that is less likely to close it should your trust deed come to their attention.

Presumably you are a sole trader rather than operating a different type of business?

We are just about to sign on our trust deed (when Ewan gets back to me anyway with the paper work preposal). As part of that we are having to open new bank accounts also.

We approched the Nationwide as they are separate to us and any debt my wife or myself have.

Applied online as was accepeted right away. Just waiting on my cards commign through but have already moved all my DD's and SO's accross. Salary goes in thiere as of this month and as soon as this is confirmed the trust deed will be applied for with all the companies we owe debt to.

As far as we know Nationwide is completly independant to anyone else so safe guards the accounts. We had intended goign to the Co-op as this was recomneded in moneysavingexpert but I have ready they have links to RBS and as we have debt there we decided not to risk using them (although you can get a basic account from them regardless apparetly.)

As a rule of thumb search for a new bank / building society which have no links to any of your debt and advioid HBOS / Bank of scotland as they have been shown to freezer accounts as it's in their T&C's that they can do this.

Hi colski.

There is no issue of a link between Co-op and RBS. They operate from different banking licences and arent connected as far as I know.

The Nationwide CashCard account is one of the accounts we suggest is worth looking at during trust deeds.