Which bank a/c for a low income?

jayneella

Hello, im currently in the process of taking lloyds to the cleaners with regards to all the charges...i am at the 2nd letter stage and im now aware i need to open another account, however I am a single mummy and have a very low income, i have tried with online banks but get refused because i either cant pay in enough or it's my rubbish credit rating! im really stuck for what to do as i dont want to go with the wrong bank, i cant go with Lloyds or Abbey... any advice or recommendations would be greatly appreciated.

Thanks

System

How about Nationwide?

They do a basic FlexAccount (current account) with a cashpoint card

I find them to be good. With them you also get the same interest rates as the full current account should you get paid over the £500 or £1000 mark in any months. You can also get cheques over the counter, if you need to pay bills etc and free use of cash machines abroad.

Along with the usual standing order/direct debits.

Otherwise, the Coop Cashminder account always seems to get the thumbs up on here

Good luck

darkcloudi

The alliance leicester is not to bad if you earn £500 a month and provides a decent interest rate on your balance.

Halifax and First Direct are also goog but not entirely sure whether they rate you on how much you will be paying each month. Haven't had a problem with either of these banks so far.

Also you can make some money by getting referred with the Alliance Leicester ( Check out the referrers board on this website )

jayneella

Heng_Leng wrote:

How about Nationwide?
s.

Otherwise, the Coop Cashminder account always seems to get the thumbs up on here

Good luck

The Coop Cashminder i have never heard of that? are they high street?
Thanks for reply BTW it's nice to know someone is there to offer advice.

techno_geek

Co-op aren't as high profile on the High Street as the other major banks, so this link to their Branch Finder will help you find one near you.

I think you can apply by phone, and you can pay money in at the Post Office, so even if you don't have a local branch...