Scottish and English debt laws are different, so if you are a Scottish resident and have questions on debt, then this is the place to post.

Moderators: TalbotWoods, JaneClack

By Anne77
#35060 Hello all,

Thanks everyone for your responses to my last questions!
I just wondered if anyone could help me with another question.

Is it possible to have a current account with a debit card but no overdraft set up for the duration of the Trust Deed, or is it set in stone that you must only have a basic bank account with a cash card for withdrawing cash from ATMs?

I have been told to switch my bank account away from my current bank as I have an overdraft at present. I have applyed for a current account with the Co-Operative bank. Although you can apply for an overdraft facility with the the this current account it does not come as Standard and of course I have not applied for this facility.
The reason I have applied for the current account is because it offers a Debit Card. I would find it extremely difficult without a debit card and as you must have the money you require in your account in order to use them it would not mean getting into any debt.
A leaflet I have from a company who sets up Trust Deeds says only that it is fine to have a bank account but that it must be in Credit.

I have not been able to find a bank that offers a debit card but absolutley no overdraft.
#35182 There is a Basic Bank account leaflet (I posted the link some time ago) and ofc now that I am looking for it I cant find it.......... :?

The Coop do a Basic Bank Account with a Debit Card (Electron) which most people find ok.
By Anne77
#35288 Thanks for your response JLP!

This afternoon I spoke to the National Scottish Debtline and they advised that while in a trust deed it was even possible to have a bank account with an overdraft however you must not try to use it or go into debt at anytime. So as I have not applyed for an overdraft at all I think the debit card should be fine.
I do worry a bit though as I seem to get so much conflicting advice about a range of questions relating to trust deeds it seems that however much I try to find the real answers I think I will have to wait until I go ahead with it in order to really find out. It also appears that a lot of what goes on with trust deeds is left up to the discretion of the trustee.
In anycase I will be sure to post here whatever I find out about this along the way.