Linked Banks and Creditors

When dealing with your debts, it’s important to ensure that you take the right steps to protect your income in the process. 

If you owe money to your bank, they can use the “right to offset” to transfer money from your current account without your permission to pay towards your debts. 

We recommend opening a new basic bank account to stop this from happening. 

What is a basic bank account?

A fee-free basic bank account works in the same way as a typical current account. You’ll receive a debit card that you can use to pay for goods or services online and in-store and withdraw cash. You’ll be able to get your wages, benefits or other income paid into the account, and you’ll be able to set up direct debits or other payments. 

The main difference is that you won’t have an overdraft or a chequebook.

Where can I open a basic bank account?

We recommend opening a new basic bank account with a bank or building society to which you don’t have any financial ties. 

Depending on who you owe money to, you could open an account with:

• Lloyds Bank
• Coventry Building Society
• Santander
• Leeds Building Society
• Starling Bank
• HSBC
• RBS
• Barclays
• Nationwide
• NatWest
• Monzo

Get advice now

If you have any questions, contact us on 0800 316 1833, or simply click the “Get Advice Now” button, and we’ll call you back

Get advice now