We're talking about two different things here RoseG.

A trust deed will appear on your credit file for six years.

The criteria that a bank uses to provide certain products is up to them.

I'm sure other members will be able to suggest savings accounts that they've been able to set up.

It's surprising that the bank appear to have an issue with a savings account. I assume it's just that, an account to save up money and therefore little or no risk to the bank.

As TDA says, best avoid a bank with this approach and look elsewhere.

Mark

Thanks TDA. What I was confused about is does the 6 years begin at the beginning of the TD or from discharge? For me at the end of the time that will mean the TD will have remained on my credit file for 12 years. I was sure it was only the six years from the start of the TD. I'll certainly be glad to hear of any other options for savings accounts - I'd have preferred to use my own bank but am disappointed at what I heard today.

Thanks Mark - I was thinking that - it does seem odd given Co-op clearly would be grateful to anyone wanting to invest in them!

The six years begins at the start of your trust deed RoseG.

Anything that goes on your credit file stays there for six years.

As mentioned before, hopefully another member can suggest a savings account to you that they were able to open.

Hi RosieG

I am also with the Co-op and have had a deposit and linked savings account with them since just before the Trust Deed - Current Account Plus with £200 overdraft. I think it was just lucky timing for me that they did not insist on a basic account.

I also opened a Credit Union Account about a year ago, and I have money transferred from my current account every month to that. I had no problems opening that with them.

I also think it is strange that the Co-op would not allow you to open a Savings account when there is no risk to them. Do you think the person perhaps could have given you the wrong information?

Could you perhaps wait until you are discharged and have the Form 5 (which I believe is imminent), and then call their customer services telephone line (that's how I opened my account) and ask them without referring to your visit and the first conversation?

Just to see if you get a different answer from a different person. You could try asking them about switching to a current Account Plus with a linked savings account and £200 overdraft (now that you are discharged); and then if that is not acceptable, ask them about opening the deposit account.

Nothing ventured, nothing gained I guess. And if you are struggling, you could try a local Credit Union.

Good luck.

Thanks TDA and Firewalker. Good advice - I did think that the lady I spoke to seemed to have the wrong info. Actually I've already opened a Credit Union account and pay into that which is good. I have the form 5 and am just waiting for the discharge to appear on the AiB. I'll have another try then.

I just had a thought RoseG. The Co-op head office is in Manchester. They may not be very familiar with Trust Deeds, since those are Scottish. They will be used to dealing with IVAs which are different. Just to bring that to the fore in your mind when speaking with them.

Good luck.

Yorkshire BS do good savings accounts with no restrictions on those of us in trust deeds. Co op wouldnt allow me a savings account either!!

I have just opened a joint savings account through Skipton Building Society online with no problems at all (i'm discharged Lila 3yrs and dh is waiting on his discharge trust deed). Hope that helps.

Thanks for the contributions everyone.

It's great when the forum works like this.

...and great to hear that so many are opening savings accounts!

Thanks everyone. I'll do a bit of shopping about and let you know how I get on. Good point about the Co-op & IVAs Firewalker.

I agree Kevin, good to see people planning for the future and trying to build savings!