Smile Current Account.

benoit

I've been accepted for a current account with smile bank & i understand that you have to have a payment of some sort going into the account every month, but is there a minimum you have to pay in?

http://www.smile.co.uk/servlet/Satellite?cid=971088186700&pagename=Smile%2FPage%2FsmView&c=Page

I have read the T&C but all i can find is the bit about having to have a payment ie wages, pension etc going into the account monthly, but i can't find out if there is a minimum monthly credit limit.

Baldur

If there was a minimum funding requirement, you can be sure that it would be in the Ts & Cs.

The only reference appears to be:

1.1 To open an account you must be a UK resident over 18 and to have an account you must receive a regular payment (i.e. wage, salary, pension) which you must pay into your account.

benoit

Thanks, that's what i thought. So in theory i could just have a regular DD going into it to fund it every month, not necessarily a wage as such?

Baldur

benoit wrote: »

So in theory i could just have a regular DD going into it to fund it every month, not necessarily a wage as such?

That's open to interpretation, the quote says 'i.e' ('that is') rather than 'e.g.' ('for example').

JoseChungsDoomsday

the monthly credit is for when you use the overdraft - all banks are the same, you have to lodge money for them to be sure you plan to repay it.