TDA - I read about this very issue with this account 2-3 weeks ago in another thread that's lurking on here somewhere so pepper350's case may not actually be the first.

That said, it MAY have been on another forum. My memory's failing me as the years go by.

Cheers,

DebtFreeWannabee

Over time we have had a couple of people report that they were not accepted for the account and we also had a recent thread where someone in a trust deed was having a hard time getting a business bank account opened. In general though the feedback on this forum and others has been good.

I did read a credible post on another forum recently that the Cashminder account has a "three strikes and you're out" policy in connection to failed standing orders and direct debits. I cannot however be certain whether or not this is true.

Roll on the days when the government legislates that everyone is entitled to a basic account, regardless of their circumstances.

It's only when you're in this position that you realise the problems that others have been facing.

Hi pepper 350
I applied for Coop current account shortly before I signed my Trust Deed and was accepted.

I received all the relevant paperwork and Visa debit card and a chequebook.

Within 3 weeks of signing my TD I received a similar letter to yours from the Coop informing me they were cancelling the account as I was in a TD and that was against their rules.

They asked me to contact them to discuss changing to a Cashminder account which I did and was accepted.

I can see no real difference regarding the Cashminder account to a normal current account albeit there is no credit facility with it ie overdraft, credit card and chequebook which makes it even more attractive!!!!!

I think you are right TDA, they do operate a `3 strikes and your out policy` so you have to be very careful and make sure you have funds available to cover your D/debits, S/orders and debit card transactions.

Sherbo

hi sherbo i am going to phopne them up and ask them why they are cancelling as it was definatly just debit card i got no cheque book and never missed any of my direct debits always had cash in to cover them all will post how i get on

hi everyone ,well i took the bull by the horns and phoned coop bank and explained everything to them ,the out come is i can keep the cash minder account but they are cancelling my savings account with them as that is against there rules to have one when you have a trust deed which i am not bothered about as long as getting to keep cashminder thankyou everyone for all your help and comments

That sounds like really good news pepper350.

Good for you for challenging their original decision, and well done to Co-op as well for having exercised some common sense when you contacted them.

Well done, glad you got it sorted......

Like you my big worry was not having a Debit card as I virtually buy everything online including my groceries, without one I would have been goosed.......

Porcupine

`Goosed`?? not heard that word for a while. A Goosed Porcupine?? I`ll stick to turkey for Xmas thanks.

Sherbo

I have had a report from a client to say that Cooperative Bank have notified them that they must close their account too. However, they have been offered a basic bank account instead.

Regarding Lloyds TSB, I have heard of no such problems arising - and although Black Horse is part of the same group of companies, I believe it is run totally separately from Lloyds TSB's branch network. Therefore I'd be surprised if this would cause you a problem, Gresgow.

Thanks Kevin, was hoping that I would be able to remain with Lloyds.

Thanks once again for this info.

Hi gresgow.

Kevin is absolutely correct, these companies operate quite separately from each other. However if Blackhorse and Lloyds operate from the same banking licence the potential for "set-off" will remain.

I'm afraid I don't know whether or not they operate from the same licence but hopefully someone else might...

Kevin.....

Just for future reference do you know if the basic Co-Op bank account offers you a Debit Card....? Hopefully I'll never need to change account as I've been very happy so far with HBOS but would like to be prepared if they ever do try to cancel my account.....

Hi Porcupine.

The basic Co-op account (Cashminder) does come with a debit card.