Hello larrie,

There may be two parts of a redundancy payment:

1 - The statutory element that we are all entitled to. You would normally be allowed to keep this as it is needed to live on while new employment is found.

2 - Any extra payment as a result of beneficial terms of his contract of employment. This is normally paid into the Trust Deed.

Just to add a little to trust deed assistant's answer, larrie. Your trustee has no right to the statutory element of the redundancy money - the only way this should be paid over would be if you did so voluntarily.

thanks for clearing this up for me also i am with wilson andrews and have a think banking account can i open another account with a diffrent bank and also what banks take you?

There's nothing to stop you applying for an account elsewhere larrie - you will probably find that a basic bank account is all you are offered though.

I hear good things about Santander/Abbey

You may be able to get an online bank account with Barclays or you could try Nationwide.

Julie

Hi Larrie

The 2 people often compliment are Nationwide and Co op who provide basic accounts. I think these can be done online.

Mark