Can I get a bank account if I am on DAS (DPP)?

DAS (the Debt Arrangement Scheme) is designed to allow Scottish residents to pay back their unsecured debts at a pace they can afford. If you are eligible for DAS you can enter a DPP (Debt Payment Programme).

This would involve:

• Freezing any interest and charges on your unsecured debts.
• Allowing you to make a lower, more manageable payment towards your debt each month.
• Protecting you against legal action from your unsecured lenders.
• Allowing you to stay in your home without having to release any equity.

There are disadvantages, however. Notably, taking part in a DPP can negatively affect your credit score, and will be noted on the DAS register. This could make it difficult to obtain further credit and, in some cases, open a bank account.

If you want to find out more about the Debt Arrangement Scheme and Debt Payment Programmes, click here.

What kind of bank account can I get on DAS?

If you are on, or have recently completed, a DPP, it doesn't necessarily mean that you will be denied a bank account.

If you currently owe money to the bank that holds your account, you may have to find a new one. This could prove more difficult than you expected, due to the effect that DAS has on your credit rating. If you fail a credit check with one bank, however, it doesn't always mean that every single other bank will reject you.

If you do find yourself in a position where you cannot find a 'normal' current account, you may wish to look into 'basic' bank accounts.

If you would like to know more about basic bank accounts, have a look at this page.

What's a basic bank account?

A basic bank account is similar to a 'normal' bank account in a number of ways. It provides a safe place to keep your money, facilities for Direct Debits, a card that allows you to withdraw your cash (or use for shopping), and often online and/or SMS banking.

There are a number of important differences. Basic bank accounts do not insist on a good credit score, so people with poor credit scores can get them.

They also do not provide significant overdraft facilities. Though this may seem like a limitation, it may be beneficial because you will not be able to accidentally overspend and incur overdraft charges.

Banks do not tend to openly advertise their basic bank accounts, so you may have to ask them about it.

If you would like to learn about the thinkbanking account, which does not carry out credit checks and even manages your money for you, click here.

• How do you qualify for DAS?
• DAS or bankruptcy (sequestration) - which is better?
• Debt Arrangement Scheme (DAS) FAQs
• Debt Payment Programmes
• Basic bank account FAQs
• Bank account with no hidden charges
• No credit check bank account

Tags: bank, bank account, DAS, DPP, DAS, Debt Arrangement Scheme, Debt Payment Programme, equity, DAS register, basic bank account, bad credit, bad credit bank account

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