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Right to Offset - Grouped Banks
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Hello,
I am in the process of setting up a DMP and have tried to set up a parachute bank account. I have a loan with RBS and have attempted to set up an account with Natwest. As the latter is linked to RBS should I avoid concluding the application with Natwest?
I am concerned by a banks' "right of offset" and take any funds available in an account. Or is the Natwest simply a stand alone entity from RBS group? Could the RBS remove funds from a Natwest account?
I read some of the terms and conditions and basically it says "they may share details between other parties within the group to claim debt" so it may be too risky to open. Also, bang goes my application to Halifax as I have an Aqua credit card and they're part of HBOS. I have an appointment with Yorkshire Bank tomorrow (NAG) so fingers crossed.....
Any comments would be much appreciated.
Cheers,
I am in the process of setting up a DMP and have tried to set up a parachute bank account. I have a loan with RBS and have attempted to set up an account with Natwest. As the latter is linked to RBS should I avoid concluding the application with Natwest?
I am concerned by a banks' "right of offset" and take any funds available in an account. Or is the Natwest simply a stand alone entity from RBS group? Could the RBS remove funds from a Natwest account?
I read some of the terms and conditions and basically it says "they may share details between other parties within the group to claim debt" so it may be too risky to open. Also, bang goes my application to Halifax as I have an Aqua credit card and they're part of HBOS. I have an appointment with Yorkshire Bank tomorrow (NAG) so fingers crossed.....
Any comments would be much appreciated.
Cheers,
DMP # 280
Bad debt: 30K
Freedom: Oct 2017
Mood: :whistle:
Bad debt: 30K
Freedom: Oct 2017
Mood: :whistle:
0
Comments
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Got a new bank acound Yay:T
On the downside, two of my creditors have started chasing me....:huh:DMP # 280
Bad debt: 30K
Freedom: Oct 2017
Mood: :whistle:0
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