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Linked Banks and Creditors

When you’re dealing with your debts, it’s very important to ensure you have a ‘safe’ bank account – i.e. a bank account that isn’t linked to any of your unsecured creditors. If you don’t and owe your bank money they have the right to offset – meaning they can transfer cash from your account to pay off their other debts.

Below is a list of the most common linked banks and building societies in the UK – if your bank account and any of your unsecured debts are with linked institutions, you should consider opening a new basic bank account to keep your money safe. Find out more about ‘safe’ bank accounts here.

Allied Irish Bank
First Trust Bank (NI)

Bank of Ireland
Post Office
AA Financial Services

Bank of Scotland
Birmingham Midshires
Capital Bank
Intelligent Finance
St James’s Place Bank
BM Savings
Axis Bank UK Ltd

Barclays Bank
Standard Life
Barclays Direct
ING Direct

Co-Operative Bank

Family Building Society
National Counties Building Society

First Direct
John Lewis / Waitrose
Marks & Spencer

Nationwide Building Society
Cheshire Building Society
Derbyshire Building Society
Dunfermline Building Society

Royal Bank of Scotland (RBS)
Child & Co
Direct Line
Drummonds Bank

Bradford & Bingley
Alliance & Leicester

Skipton Building Society
Castle Money
Chesham Building Society
Scarborough Building Society

Stroud & Swindon Building Society
Coventry Building Society

Yorkshire Bank
Clydesdale Bank
Virgin Money

Yorkshire Building Society
Barnsley Building Society
Chelsea Building Society
Norwich & Peterborough Building Society
Yorkshire Shareplan

Cheltenham & Gloucester

Coventry Building Society
Coventry BS
Stroud and Swindon BS

Ulster Bank

What is a basic bank account?

When you’ve missed debt repayments, or if you’ve just got a bad credit rating, it can be difficult to get a bank account. We recommend opening a new account with a bank unlinked to your current account. A basic bank account is a plain current account without an overdraft. Use the list above to find a safe account.

Get advice now

If you have any questions, please contact a PayPlan debt adviser on 0800 316 1833, or for further online information see the pages below. Or simply click the “Get Advice Now” button and we’ll call you back.

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