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Basic Bank Accounts

Hello

Just got some info about Lloyds-TSB basic bank accounts & noticed in the small print that the cash card they provide can only be used to withdrawl cash from their own cash machines. Are all basic a/c's like this? As i do not see the sense in this as surely all cash machines are linked. I can't think of anything more inconvient than bieng stranded with no access to cash because Lloyds have no machine in the vicinity.

I am going to have to change a/c's because part of my debt is with my current bank. However, i have not yet put the wheels in motion re: sorting out my debts. I am not currently in arrears with any of my loans or credit cards, & my creditors are unaware of my problems.

Therefore would it be possible to apply for an ordinary current a/c with full Switch & cheq book facilities obviously i do want an overdraft facility. Before i approach the likes of Payplan. Would i pass the credit check, as i have 10 credit cards & 4 loans but for now all my repayments are up-to-date.

Thanks

Comments

  • earthmother
    earthmother Posts: 2,563 Forumite
    Part of the Furniture
    I have a basic account with Lloyds, and hadn't realised they had this limitation - never use the card as I only pass DDs through the account to keep some sort of banking history going and give me a form of ID (no driving licence or passport - statements are the next best thing).

    If you wanted to shop around, this link should take you to the FSAs own list of basic accounts - http://www.fsa.gov.uk/pubs/public/bank_account.pdf

    :)


    Don't know about the other part of your question - each bank will have a slightly different rule. I have the basic account as I had low income and defaults at the time.
    DFW Nerd no. 884 - Proud to [strike]be dealing with[/strike] have dealt with my debts
  • I would have thought you should be okay to get a normal bank account if you have had no adverse credit history. The fact of the cards you have and not missed payments to me shows that you can manage. The Halifax current account gives you a solo card, but not a cheque book, you can put DD through it, but I am not sure whether you can have an overdraft, but you can withdraw from non Halifax Machines. If you also post this on the bank account forum, you may also get some valuable feedback on accounts at the minute.
  • shellsuit
    shellsuit Posts: 24,749 Forumite
    Part of the Furniture 10,000 Posts Photogenic Combo Breaker
    The HSBC basic account is the same and is a pain in the backside when you don't have a branch local.
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  • madduck
    madduck Posts: 291 Forumite
    I've got a basic Bank of Scotland account. I'm not restricted to cash machine.
  • Locana
    Locana Posts: 478 Forumite
    I had a basic current acount from the woolwich. they gave me a cheque book and electron debit card, where you can draw money from any link machines. I Think nationwide do a basic account too, but not with a debit card. If you have no adverse credit then you should be fine in getting a current account from any high street bank...
  • PeachPickle
    PeachPickle Posts: 9,924 Forumite
    The HSBC basic account is the same and is a pain in the backside when you don't have a branch local.

    No it isn't. I've got a basic account with HSBC and I use the card in any old random machine. They don't have the link symbol on the card, but it still works!
    DFW Nerd #104 I :heartpuls my Kitten :)and my hat :heartpuls
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