Free Basic Bank Account with Debit Card
What is a Basic Bank Account?
A basic bank account allows you to receive money, pay bills and manage your finances all in one place.
Getting a basic bank account gives you the ability
- Have your earnings, state benefits, pension or any family tax credits that can be paid directly into your account;
- Offer a way to view your account either by going to a local banking branch, online, over the phone. Mobile banking or provide bank statements
- You DO NOT get a chequebook
- Pay in cheques for free (remember you will have to wait until the money is available for you to spend);
- Take money out of any ATM cash machines with a debit card (most atm facilities are usually free. But there are some atm machines that will charge)
- Pay and set up bills payments by direct debit, Standing order
Lots of banks and some building societies offer basic bank accounts In most cases banks provide you with a debit card. Which you can use as to pay for your shopping and or you can use cash machines near where you live or work for free (read bank or building society terms and conditions to be sure).
Can I open a guaranteed basic bank account whatever my credit history?
- In most cases, yes but it does depend on the building society or bank who is able to open a basic bank account. The bank or building society may do a credit check to see your credit history, to verify that your name does not come up as bankrupt or county court judgments (CCJs) against your name. But even if you have, you may still be able to open an account
bankruptcy bank accounts
I am bankrupt, is there any bankruptcy bank accounts?
- Not all banks accept people who are bankrupt, in fact, there are only several bankruptcy bank accounts available they are Barclays. Nationwide, card one banking and the Cooperative Bank
How do I keep track of my money with a basic bank account?
- You usually get a monthly or 3 monthly statement in the post or you can register online for internet banking. Nearly all banks now offer mobile banking which is a secure and instant way to keep in direct control of your finances whilst on the move.
- With most basic bank accounts you can check how much money you have and get a mini statement from a cash machine showing the most recent transactions.
What if there is not enough money in my account to pay a direct debit or standing order?
- With a basic bank account, you cannot go overdrawn because you won’t get an overdraft facility. But if you pay your bills by direct debit or standing order and there isn’t enough money in your account. Then the bank will not make the payment but you may still be charged a Fee.
Some banks may cancel your direct debit or standing order or even close your account. You will still have to pay the bill as well as any charges they may impose. So it is really important to make sure you have enough money in your account to pay your bills.