Lloyds and Halifax link?

[janet.42]

I am in the process of setting up a DMP & knowing I had to change my bank account I have applied to Lloys TSB for a card cash account. But just realised that as part of Lloyds group of companies it is linked with my Halifax credit card. If I do get the Lloyds bank account will they be able to take the halifax debt from the account?

[Adam Davies]

Hi
I doubt they will have the right of offset. However you could be sure and open an account with the Co-op Bank, the Cashminder account is excellent 0845 602 7057
Regards

[size5]

With a DMP Andy is right in that Lloyds and Halifax do not really link up in that way, however, as a note of caution, I have come across a few cases lately with IVA proposals where they have done so, so to be absolutely sure then the co op gets my vote as well, provided of course that you have no debts with them.

Regards.

[janet.42]

Thanks to both of you . Will contact the co. op bank to make 100% sure it will be ok regards jan

[Shining]

The co-op comes highly recommended on the forum and lots of our posters are more than happy with their service given. x

[dw1983]

I would also highly recommend the natwest step account if you have no credit with them very easy to apply online

[Lincoln_Guy]

After suffering no end of trouble with the Co-Op I would have no hesitation recommending a basic Barclays account if they're not linked to any of your creditors - they have been brilliant since I moved to them from the Co-Op.

[scaredykat]

I am going to have to open a new bank account too, and was surprised at just who was associated with who !! i applied for nat west but RBS is part of their group and one of my creditors !! My nearest co-op is 25 miles away so not really an option, so will try the yorkshire

[size5]

I am surprised that you have had trouble with the Co-Op lincoln guy, you very rarely hear any bad reviews of them. Scaredykat, the Co-Op is really an internet/telephone based account so you don't need local branches, however if you have a cheque to pay in etc then you can use any post office. Yorkshire is ok too, and nice to hear a positive review of Barclays on here as well.

Regards.

[Lincoln_Guy]

I am surprised that you have had trouble with the Co-Op lincoln guy, you very rarely hear any bad reviews of them.

I'm sure that my experience caused by one over-ambitious adviser (I presume they are paid a commision for opening new accounts?). However just prior to entering my IVA I went to the Co-Op bank to open a new account, specifically requesting their basic "Cashminder" account.

The adviser told me that would be fine and opened the account, then told me that I would receive a free £200 overdraft facility, when I explained that I wanted a cashminder account and didn't want an overdraft she told me that it was the normal way to set up this type of account and I just needed to contact them once the account was open and request that the overdraft was removed.

When I received my account info through the post I discovered that I had actually been given a £9.50 a month "Privilege" account with a £1000 overdraft facility. I wrote to customer services to explain my financial situation and requested that the account was closed and a Cashminder account opened instead.

I received a reply which accused me of trying to open the account fraudulently as I didn't tell them I was insolvent (I wasn't when I opened the account), and telling me about the Cashminder account "which would be more suited to my situation". Needless to say after all this rigmorole I told them to stuff their account and went to Barclays who opened me the account I had requested with no problems and have been fine ever since!

[size5]

Certainly a blot on their copybook, let's hope it was an isolated one off incident.

Regards.

[kallis3]

Hopefully, the Co-op do get a good press on here usually.