Card One Banking

Rickheslop

Has anyone any experience of this bank or any other comments? I'm investigating basic bank accounts for my son who has a very poor credit record. Thanks in advance. Rick

Svenena

Never heard of them, so no opinion to offer on them, however the best basic bank accounts are generally held to be those offered by Co-op or Barclays - both do not require a credit check, so are ideal for those with a poor credit history. You can find further info on bank accounts for those with poor credit history in the article on the main site, here: http://www.moneysavingexpert.com/banking/basic-bank-accounts

ETA: Having looked at the Card One Banking website, I now have an opinion to offer:
Don't pay £12.50 a month when your son can get a bank account for free!

You also can't set up DDs on this account, and are charged £1 for ATM withdrawals :eek:

pmduk

As this is a moneysaving site, I'd suggest that that account is a bad choice for anyone. £150pa just to hold that account, with lots of transaction charges is an amount he could be putting to better use elsewhere. Check here for a list of basic bank accounts. All of which are free.

Rickheslop

Thanks for the advice - I shall investigate teh Co-op CashMinder further. Rick