Basic bank accounts? Help please.

gemj_2

Hi,

Im currently in a bit of a debt situation with my bank. Im looking to open a new account with another bank to pay my wages into so that they dont get swallowed up by debts before i have a chance to pay my rent etc. Does anyone know of any banks (apart from lloyds) who will give me a basic account with a cash card (no overdraft) with my bad credit rating? Also, my only form of ID is a driving license. will that surfice as ID to open the account?

Thanks for your help.

x

mrmajika

I believe all banks are required to offer some type of basic bank account to all customers which doesn't require a credit check.

You will need both proof of address and proof of identity to open any account.

A driving license can act as either but not both. That is, if you are using your driving license as identity id then you will need additional address id such as a recent utility bill.

If you are using your driving license as address id then you will need additional photographic id such as a passport.

There is a long list of what is acceptable, but you will need at least 2 of these, as it is a legal requirement.

bradley_2-2

gemj wrote:

Hi,

Im currently in a bit of a debt situation with my bank. Im looking to open a new account with another bank to pay my wages into so that they dont get swallowed up by debts before i have a chance to pay my rent etc. Does anyone know of any banks (apart from lloyds) who will give me a basic account with a cash card (no overdraft) with my bad credit rating? Also, my only form of ID is a driving license. will that surfice as ID to open the account?

Thanks for your help.

x

halifax cardcash is good, i had it when i was in that situation..

http://www.halifax.co.uk/bankaccounts/cardcash.shtml

don't be put off by the 16/17 age thing it mentions, thats just their advert to get all kids getting first jobs a basic account that they can then upgrade them to at 18

and yeah, photocard driving license can be either address OR name verification.

driving licence + utility bill/mobile bill etc within last three months = YES

bengal-stripe

bradley wrote:

driving licence + utility bill/mobile bill etc within last three months = YES

Mobile phone bills are not acceptable for most (if not all) banks.

Land lines are, as well as gas and electricity, as they are connected to some brick and mortar property.

gt94sss2

The Financial Services Authority publishes a booklet about Basic Bank Accounts.

This includes a list of providers, what facilities they offer and also talks about the sort of ID documents you may need to open an account.

Regards
Sunil

gemj_2

Would a letter from the tv licensing company count as address varification?

C_Ronaldo

why not use your drivers licence as proof of address and passport as photographic id

Bear619

gemj wrote:

Hi,

Im currently in a bit of a debt situation with my bank. Im looking to open a new account with another bank to pay my wages into so that they dont get swallowed up by debts before i have a chance to pay my rent etc. Does anyone know of any banks (apart from lloyds) who will give me a basic account with a cash card (no overdraft) with my bad credit rating? Also, my only form of ID is a driving license. will that surfice as ID to open the account?

Thanks for your help.

x

All banks offer a basic bank account. You need to make sure you ask for a "Credit Only" (this means you will keep the account in credit every month and not have an overdraft/other credit facility linked to the account) Account though. I fyou ask for a basic account they will take that to mean a "Current Account" with an Overdraft and Cheque book facility, and complete credit searches, If you have bad debt/bad credit history then you are unlikly to be accepted. As has been pointed out a halifax card cash account is a good account, Also Natwest Step accounts are good. Neither have overdrafts or Cheque books, so they are Ideal.

regularsaver1

bradley wrote:

halifax cardcash is good, i had it when i was in that situation..

http://www.halifax.co.uk/bankaccounts/cardcash.shtml

don't be put off by the 16/17 age thing it mentions, thats just their advert to get all kids getting first jobs a basic account that they can then upgrade them to at 18

and yeah, photocard driving license can be either address OR name verification.

driving licence + utility bill/mobile bill etc within last three months = YES

bradley - cardcash is only available to 16/17 year olds - the only basic account they now do is called easycash, with no symbols. cash card based, but can have standing orders and direct debits

http://www.halifax.co.uk/bankaccounts/easycash.shtml --- this one. it is a postal application so get hold of pack - there is a checklist for id

jonesMUFCforever

mrmajika wrote:

I believe all banks are required to offer some type of basic bank account to all customers which doesn't require a credit check.

You will need both proof of address and proof of identity to open any account.

A driving license can act as either but not both. That is, if you are using your driving license as identity id then you will need additional address id such as a recent utility bill.

If you are using your driving license as address id then you will need additional photographic id such as a passport.

There is a long list of what is acceptable, but you will need at least 2 of these, as it is a legal requirement.

Untrue I'm afraid.
The bank I work for no longer offer Basic accounts only cash ones but the application will leave a footprint on your credit history.

mrmajika

ejones999 wrote:

Untrue I'm afraid.
The bank I work for no longer offer Basic accounts only cash ones but the application will leave a footprint on your credit history.

All banks are required by law to offer a basic bank account. Some banks, including LTSB, are changing the name of their basic bank accounts to something like cash accounts, but they are essentially the same thing. If these now require a credit check then I stand corrected!

The idea is to allow people who have bad / no credit history, or who have never had an account, to open an account so that they can receive benefit payments.