Changing bank accou...
 
Notifications
Clear all

Changing bank accounts

11 Posts
7 Users
0 Reactions
1,817 Views
 Wull
(@wull)
Active Member
Joined: 16 years ago
Posts: 19
Topic starter  

Just wondering if anyone has any experience on this.

I made my last trust deed payment at the start of April and waiting for the release papers to come through any week/month now.

I walked into the BOS last month and came clean with them about my situation and asked them if they would consider giving me a bank account and an ISA as a result. She kind of twitched and offered to help with the savings account but told me that trying for the bank account would incur a credit check and that I would want to avoid that till the trust deed was 6 years behind me and out of my credit history.

Has anyone successfully changed bank accounts while a trust deed was still on their credit report? I'm with Think Banking just now and as much as I like the way they split one account into the two accounts for managing money I resent paying them a monthly fee.


   
Quote
Mark McFadyen
(@mark-mcfadyen)
Famed Member
Joined: 16 years ago
Posts: 4798
 

Hi Wull, I normally advise people to try Nationwide or Co op as there never seems to be any problems with them.

I'm sure there will be other banks to.

Mark

Mark is not posting regularly in the Trust-deed.co.uk forum.


   
ReplyQuote
Shona Maxwell
(@shona-maxwell)
Honorable Member
Joined: 14 years ago
Posts: 634
 

Hi Wull

BOS is a bit of a nightmare for anyone with debt problems, however there are others which are more approachable. As Mark said the Nationwide is very good, and so are Barclays Bank. Barclays do a Cash Account which they advocate anyone can have - I have never had anyone refused by Barclays. The problem with them is that they are not in every town, so it depends where you live, or you can apply on-line.

Shona is not currently posting in the Trust-Deed.co.uk forum.


   
ReplyQuote
 Mozy
(@mozy)
New Member
Joined: 15 years ago
Posts: 1
 

Hi Wull, i am in a protected trust deed just now and finishing soon. throughout i have been with RBS and they have been great.

cheers


   
ReplyQuote
(@skintally)
Estimable Member
Joined: 14 years ago
Posts: 226
 

I have just left RBS for obvious reasons and opened an account with BoS before being gazetted. Is it possible that I might have problems later with this??? Had previous debt with Barclays and Nationwide so guess that rules them out:(

SkintAlly


   
ReplyQuote
(@porcupine)
Estimable Member
Joined: 15 years ago
Posts: 206
 

I have a HBOS account openeed it just before I signed my Trust Deed over a year ago, I have not had any hassle from them at all and my Trust Deed appeared in the Gazette after my account started.......


   
ReplyQuote
Shona Maxwell
(@shona-maxwell)
Honorable Member
Joined: 14 years ago
Posts: 634
 

That is good news Porcupine, but I am surprised as they generally freeze an account as soon as there are problems, even when the CAB write to them at the initial stage! You have been lucky or they are becoming more relaxed. Funnily enough, I have just had an e-mail from one of my clients, to say that the Nationwide have told her she can no-longer pay direct debits from her account with them because she is bankrupt. That is certainly new. RBS and Clydesdale are fine, as long as you don't have any debt with them.

Shona is not currently posting in the Trust-Deed.co.uk forum.


   
ReplyQuote
(@porcupine)
Estimable Member
Joined: 15 years ago
Posts: 206
 

Shona......

I never actually told HBOS that I was in a Trust Deed as when I opened my account I had yet to actually met my Trustee so I had not signed any Paperworrk regarding my TD, so I was really economical with the truth.....

But they obviously never picked it up when it was advertised in the Gazzette......


   
ReplyQuote
(@scotslad)
Estimable Member
Joined: 14 years ago
Posts: 157
 

Just my two cents but I have a Cash Minder account with The Co-Op and they have been excellent. Its an account specifically for those who have been made bankrupt or had other debt issues.

I don't have a cheque book - but I have a Visa card and can pay in money at any post office in the land. If you pay in cash the money goes in instantly, if you hand in a cheque its posted (paid by the bank) and appears usually within three days. They also allow you to set up direct debits and standing orders.

Plus their ethics are very good and I have never had an issue with online banking or telephone banking, very rarely wait more than a few minutes on the phone before speaking to someone.


   
ReplyQuote
(@skintally)
Estimable Member
Joined: 14 years ago
Posts: 226
 

when you say 'freeze' shona, does that mean i won't get access to my money? how can they do that and how do i get it back?

SkintAlly


   
ReplyQuote
Shona Maxwell
(@shona-maxwell)
Honorable Member
Joined: 14 years ago
Posts: 634
 

Hi SkintAlly

I didn't mean to alarm you! When your bank account is frozen simply because you are insolvent, it means you can't access the funds without contacting your bank. If you are not due that bank any money, then they will usually just require a letter from your Trustee to say they don't have any objections to you operating the account. The funds would then become available to you again. It does however, give the bank to chance to tell they don't want your business, and to take your money else where. It is very inconvenient as you then have to go and source another new account, change direct debts etc. This is where I have experienced the most difficulty with the Bank of Scotland in the past.

Great to hear ScotsLad has had such a good experience with the Co-op.

Shona is not currently posting in the Trust-Deed.co.uk forum.


   
ReplyQuote
Share: