Hi there, my advice woould be to just ask. You could take the chance that nothing would happen to your account but in the event that it was frozen I know from experience it can take a good couple of months to sort out.
I bank with Bank of Scotland and have just recently signed a Trust Deed. I had a current account with them that was frozen a couple of years ago when I went into a dmp and now only have a basic account. It appears that this account has not been affected but as a provision I opened a new account with Nationwide.
Best of luck and I hope all goes well with your trust deed.

Hi jls0505

I think it is always safer to have another account in the background just in case. The nationwide & Co op seem to be best.

Mark

I closed my Clydesdale Bank account down before I signed my Trust Deed and opened a Reward Account with HBOS, my wages, Direct Debits and Standing Order to my Trustee are all through this account. Is there a good chance that HBOS will find out about my Trust Deed and close down my account. This may sound silly but it is really important to me that I have a Debit Card as I do a lot of my shopping and bill payments etc online.....?

Oh I don't owe any money to HBOS, if that helps......

Hi Bcowan12

Like Mark I also think it would be best to open up another account, just in case...

An another option would be an online bank account with Barclays Bank.

Julie

Hi Porcupine

As you signed your Trust Deed a few weeks ago now, I would assume that it has been advertised in the Edinburgh Gazette (you can check this online). The banks quite often pick up Trust Deeds from the Gazette, so fingers crossed your account will be ok.

I would also make sure that if your Trustee asks for bank statements that you provide them, or he/she could obtain them from the bank which would in turn would bring the Trust Deed to the bank's attention.

Julie

Julie

I get my statements online to save paper as am a Green Liberal at heart, I better ask my trustee if he'll accept me printing them off via my computer or should I revert to destroying the rainforest and get them posted out to me house.........

Hi porcupine.

I'm sure you'll Trustee will accept printed copies.

Julie

Hi porcupine

I'm sure printed copies will be fine. It appears banks and other institutions are moving towards paperless/online accounts. Statements through the post may be a thing of the past in 10 years. Like cassettes or phoning a utilities supplier and getting someone who can actually help!

Mark

Thanks for the information. It's much appreciated. I think i will ask lloyds if this could happen. Just been declined by co-op and clydesdale for their basic accounts?! Really worried now...i havent even started a trust deed yet.

Mark......

Next thing your be saying is 8 track cassette cartridges will be going out of fashion sometime in the future......

Nationwide, HBOS and RBS all offer basic account facilities with no overdraft facilities. The Nationwide one currently only comes with a cash card but this is supposed to be changing to a payment card this month.
My trust deed should have become protected on Friday and as yet my basic HBOS account is unaffected.

jls0505 - That's interesting about the Nationwide account as they have accepted me for a basic bank account, only reason I wasn't too keen on changing to them is because i need a debit card of sorts and they currently only offer the cash card.

I'll look into that further.

Thanks

I was informed by them that they would be rolling out some form of debit card in June - I'm assuming it'll be either visa electron or a solo card.

Just checked my paperwork and found a leaflet. it actually says from 19 June 2010, Nationwide will be offering a debit card. Excellent, problem solved.

Thanks for everyones help.

1 other query. In my work I probably at some point will be given a company credit card for business expenses(comes with the role) Will being in a Trust Deed stop me from having this ? Don't really want to have the embarassment of explaining to my employer that i'm in a Trust Deed.