Can banks cross check between accounts?

In_debt_5

My husband and I are in serious debt. We have had our "lightbulb" moment this week and contacted CCCS and I am waiting for our counselling session in a couple of weeks time. I feel light a weight has been lifted and that there could be a way out of all of this mess and we are not alone.

Our question is if we have money in an account in say Natwest and owe money to Royal Bank of Scotland who own Natwest, can they access systems between banks? We are trying to save some money only a few pound a week as an emergency fund as we will have not credit to rely on and we want to make sure the banks can't see it and take it off us to pay off the debt?

chivers1977

I would put the money in a completely different account ie barclays, hsbc, hbos etc. I am sure that they have the facility to look at all of the accounts and as you have said, they have right of set off so they can pinch it if they wanted to.....

TurnaroundSue

Yes, I agree with Chivers - the only thing is that if you have a poor credit rating it might be difficult to get an account - mind you, I think a savings account might be okay!

janiegs

It would probably be safer under your mattress than anywhere the RBOS can see it, but that's just my opinion. Shift your emergency pennies somewhere else.

do_it_today!

They probably can...
I applied and got an Aliance & Leicester credit card (MBNA), was performing some balance transfers and on the phone to the advisor he advised me that I could raise my limit on this new card by reducing my limit on my Abbey Card (MBNA) therefore greater 0% balance benefit.
tbh when applying I dont remember telling them about my Abbey card - I was quite surprised.
So I would assume they can with bank accounts too!

matt9713

Hi there,

Officially they won't be able to "cross check" as far as I'm concerned.

That aside the first thing CCCS will ask you to do is to open a new "basic account" and by that I mean a bank account with no credit cards/overdraft/cheque book. You will have no problem in getting one as you don't need a credit reference check as you aren't seeking credit, there is no risk involved for the bank

It's in your best interest to do that anyway as whoever you are currently banking with now, assuming you owe money to them will take whatever money they want whenever they want

Matt

Newgirl_2

Advice is to open a 'parachute' account completely unconnected to any company to whom you owe money.

Newgirl