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10 Posts

Posted - 23 September 2018 :  13:19:56  Show Profile  Reply with Quote
I am considering a DAS and have a 2nd phone call this thursday. Knowing that I will need to open a new bank account I have a few questions if anyone can help please?

1. The only bank I can find that isnt linked to a debtor is the co op. Do I have to have the cashminder account or would I be able to have their normal current account?

2. I currently run 3 accounts with the TSB. One for daily spending and budgeting, one for bills and one for savings. Would this be possible with the co op?

3. One of my credit card debts is with my mortgage company. Being in a DAS will this cause me problems getting another deal when my current mortgage term has ended?


TDA (Debt Adviser)
Trust Deed Expert

12961 Posts

Posted - 24 September 2018 :  08:54:11  Show Profile  Reply with Quote
Hi Quangie5.

It certainly was the case (may well still be) that the Co-op Cashminder account was the only one available if you're in a trust deed.

I don't know if this is true for DAS also, so suggest you ask them directly.

They may well be happy to open more than one account for you.

So long as you're not looking to borrow more money, I doubt that your choice of replacement mortgages with your existing lender will be affected. There is no extra risk for them - just you continuing to borrow the same amount of money from them.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds    

Edited by - TDA (Debt Adviser) on 24 September 2018 08:54:31
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