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15/10/2013 2:35 pm
I'm looking for advice if possible. I signed my trust deed a few weeks ago and my advisor was going to wait two weeks to put in Edinburgh Gazette. At that time I was to set up a new bank account and remove my name from the joint accout with my husband. New bank account was set up but RBS managed to lose our application to have my name taken off the account. We had to apply again and just could not get any action on it despite phoning and visiting the branch. My name was in gazette on October 4th and until today nothing had changed. My husband phoned RBS yesterday to ask what the delay was in removing my name from the joint account. They said it would be done asap. Well at lunchtime today my husband found access denied to all his accounts. Even ones my name isn't on. I am beside myself with worry for him. And guilt of course. I'm at work and he is at home awaiting a phone call from RBS. Can anyone heklp me undersyand what has happened?
15/10/2013 3:09 pm
Hi gaelforce,
In my experience the RBS will freeze any bank account of a client who has entered into a Trust Deed or Sequestration. They may have done this across all accounts, even the ones you're not on as a precautionary measure.
Normally a fax from your Trustee advising the RBS that they do not have any objection to you continuing to operate the bank account will be sufficient for the RBS to allow access and life the freeze.
As long as your joint account isn't overdrawn I think RBS will remove your name from it and allow your husband to continue to use this.
Once the fax is sent it can be 24 to 48 hours before the account is operational again. Your best to be proactive with the RBS, chase them for a fax number for the department that will unfreeze the account.
Give your relationship manager/Trustee a call to advise of the situation. It's normally something that's straight forward to resolve.
David is not currently posting in the Trust-Deed.co.uk forum
Topic starter
15/10/2013 3:14 pm
Thank you David, I will contact my Trustee asap Why on earh would they freeze his Share dealing account too.
Topic starter
15/10/2013 3:43 pm
Panic over I hope. RBS restored his accounts after he kicked up a fuss with them. It looks like it was precautionary. Thank you for holding my hand !!!
15/10/2013 3:56 pm
That's good to hear. I suspected it was a precautionary measure by them.
I'm glad it was sorted quickly as the last thing you need is to be left short of money for 1 or 2 days.
Hopefully it's smooth sailing from now on.
David is not currently posting in the Trust-Deed.co.uk forum
15/10/2013 4:02 pm
I signed on 12th September published a few days later, and RBS still keep sending me special offers and balance transfer promotions, both of my current account and CC. They even increased the limit on my CC just last week.
Topic starter
15/10/2013 5:22 pm
That's unbelievable kdog7. I had imagined at 9am on the Friday, everything your name was on would be frozen
15/10/2013 5:45 pm
Hi gaelforce
I don't think its an exact science unfortunately and is normally someone checking the Edinburgh Gazette and cross checking this against accounts.
It stems from the old days when the bank would freeze accounts as a precaution in a case where a creditor petitioned for someone's sequestration and they then went to the bank and withdrew all their savings! It left the bank liable if the notice had appeared in the Gazette and they allowed the funds to be withdrawn.
Glad it worked out.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
16/10/2013 6:06 pm
i feel your pain it took me a week to sork out joing in brance 4 times and over phone to trust deed had my wages bounce back to my work etc,rbs are jusr a joke i think when comes to this i was angry at trust deed at start but know they did there best in the end,hope you got it sorted
r mann
