Have a protected trust deed for a few months now. I had to change my bank account as my previous overdraft was included in the trust deed. But my new bank has contacted me today to say they have cancelled my new account as I can't be a customer if I am in a trust deed. Does anyone know any banks that would allow me to open a basic account to allow my wages to be paid in? Unfortunately my next pay is due on Thursday, and I have no where to pay it in, and all my direct debits are due out the 1st of Dec.! Any advice gratefully received, I'm in blind panic!
Hi Sad Sara,
I have a protected TD and opened an account with the Nationwide Building Society online at their website with no problems. Tell them you are looking for a basic "Cash Card" account.
Hope this helps.
Casperdog
Hi sad sara,
I think it's unlikely that any of the major banks will get an account open by Thursday (tomorrow).
Given the urgency you might want to contact Secure Trust Bank (a google search will take you straight to them). They tell us that their prepaid current account is guaranteed acceptance and that they'll give you an account number more or less straight way in some instances (where they can succesfully ID a client electronically). There is a charge to open the account and a monthly account charge so even if you do go ahead you'll need to consider whether this is the best long-term option.
We haven't had any client feedback so cannot say whether the their claims are backed up as yet.
Another bank about which we get consistently good feedback is the Co-op Bank. If you take this route it's their Cashminder account that is probably the best option.
I have heard good things about Abbey lately, so they may be worth a try too.
Can you tell me which bank you were with sad sara? It is useful to know so that we can tell people not to go there if they are about to enter into a trust deed.
Will an existing, or new, bank (who isn't a creditor in TD) find out about the TD at all?