Need to switch account to a bank with no association with tsb

robti

Hi I need to switch my mothers current account from tsb to another bank with no ties to the TSB. My father has just passed away and discovered that they have a loan in both their names and she has no way to repay as only has her state pension, so I understood that they can freeze her account and take her pension to repay this loan, am I correct ?

Thanks

grumbler

• - Tool: Which banks share savings protection?

It's about the same for "setting off":

What's a separate institution?

Of course now many banks are part of mega-conglomerates, it begs the question "what is a separate institution?" The answer depends on the bank's legal entity, something with no easy definition, but generally means how it's registered at Companies House.
This seems to be mostly just the different individual bank brands. For the sake of clarity, these AREN'T always the same as the definitions used for Savings Safety, but these groupings can be used as a guide.

• Setting Off Rules

jonesMUFCforever

No it is not correct.
Yes the liability for the loan exists (this is true wherever she chooses to bank).
Does mum not get any pension from dad's works perhaps or other benefits that she can claim? Does she own her home?

How was the loan paid before? Is there a life policy somewhere to cover?

My condolences.

xylophone

There is a joint account with TSB and a loan from TSB to your parents jointly which is being repaid from this account?

You say your mother has only her state pension - have you checked her situation as a widow with DWP?

If she is on a low income, have you checked her entitlements to benefits?

Your father had no occupational/private pension with provision for his widow?

At all events, if this is a joint loan it will require to be repaid. If your mother is still in difficulties after looking into the above, she should approach TSB and explain the circumstances - they may agree a longer repayment period etc.

agrinnall

When you say switch do you really mean that? I doubt whether TSB will allow the switching system to be used in this case. You need to open a new account at an unconnected bank and manually organise any incoming and outgoing payments to use that account rather than the TSB one.