Loading...

Basic bank accounts

Basic bank accounts 2015-08-11T15:16:25+00:00

Universal Credit payments will be paid into your bank account which is why it is important to open one if you don’t currently have one. Most banks offer basic accounts which allow you to access the money you have, set up Direct Debits and offer a number of ways to do your banking, such as online.

Some people who have no or bad credit rating find it difficult to access credit or certain types of bank accounts. Basic bank accounts, such as those listed below, can be accessed even if you have a poor credit history as all the bank will be doing is allowing you to access your money and won’t be offering you any credit, such as an overdraft facility.

If you have never had a bank account before it might be a good idea to do a bit of research and speak to staff at your local banks to see which offer accounts that best suit your needs.

Bank Account type What you will get
Barclays Cash Card Account • Choose either a Visa debit card or cash card (ATM only)
• Ability to set up Direct Debits or standing orders
• Cash withdrawals of up to £300 a day
• Manage your account online, in branch or over the phone
• Regular statements
Lloyds TSB Cash Account • Visa debit card
• Ability to set up Direct Debits or standing orders
• Manage your account online, in branch or over the phone
NatWest Basic Account • Visa debit card
• Cash withdrawals of up to £300 a day
• Ability to set up Direct Debits or standing orders
• Regular statements
Halifax Easy Cash Account • Visa Electron debit card
• Ability to set up Direct Debits or standing orders
• 24 hour online banking
Santander Basic Current Account • Cash card
• Ability to set up Direct Debits or standing orders
• Manage your account online, in branch or over the phone
• Use a Post Office branch to withdraw cash or check your balance up to twice a day
• Monthly statements
HSBC  Basic Bank Account • Visa debit card
• Cash withdrawals of up to £300 a day
• Manage your account online, in branch or over the phone
• Ability to set up Direct Debits or standing orders