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Topic starter
27/12/2013 10:39 am
I am a year in to a protected trust deed and have spoken to my trust deed people at grant thornton and they have no issue with me being a signatory on a treasurers account for a new sports team. My problem is who will let me open one! I a, with coop on a basic account and notice they have one but say you cant be bankrupt or have bad credit etc so presuming this will rule me out! Hsbc have declined me.
Anyone any experience of doing this in the past? Or advice to give me as to who is worth asking. I owe barclays amd santander money under the trust deed.
Basic banking facilities only so wondered if coop might let me open a second account?
Thanks in advance
27/12/2013 4:14 pm
Hi Salduck
I suspect they will carry out a credit check and this will restrict the availability of any account whether as a main account or as a signatory to an account.
If you have an account with Barclays, it may well be an idea to approach them and see about a 2nd account which you could use.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
27/12/2013 11:35 pm
I know people with 2 co op cashminder accounts so I'd try them.
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
28/12/2013 12:32 am
Welcome to the forum Salduck.
I think this is going to be a case of "trial and error".
I doubt you'll find it impossible to get an account open somewhere though if you don't need credit facilities.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
29/12/2013 9:35 am
Thanks x
02/01/2014 2:36 pm
Hey Salduck
Im in the process of sorting out a trust deed. I went to co-op and sat with the manager who opened a cash minder account for me stating it was very common for people in trust deeds to bank with them. The cash minder acts the same as any other bank account (can make bill payments, set up Direct Debits and Standing Orders, access by telephone and internet) but you have no informal overdraft. So if a payment is requested and you don't have the funds, its not paid.... (in my opinion how banking should actually work :D, none of this "we'll front the 20pence your short by but charge you £35")
Topic starter
06/01/2014 11:35 am
Thanks Adam I have a cashminder as my own personal account but this is for a sports club and I need a seperate account in the name of the sports club. I will I think try and speak to RBS or someone like that who I dont owe any money to and see what they say.
Alternatively i will just get it in my mums name and she can be the signatory
S
06/01/2014 12:17 pm
Sorry Salduck I had misread your original post.
