BASIC BANK ACCOUNT - who should I open with

fiveyearplan

I've been advised by CCCS to open a basic bank account and wonder what bank offers the best one. Advice gratefully received.

rayday2

To get better advise you would benefit from listing who you owe money too, if you choose a bank account that is linked to one of those companies they coudl take money out the account!

fermi

This document from the 'Financial Services Authority' contains a table comparing the facilities and terms of most of the 'basic' bank accounts available in the UK. The table is about 2/3 of the way through.

http://www.moneymadeclear.fsa.gov.uk/pdfs/bank_accounts.pdf

A second but less detailed comparison can be found here:

http://www.moneyfacts.co.uk/banking/bestbuys/banking_basic_bank_accounts.aspx

A list of linked banks and DCA's can be found here (although there is a more comprehensive version somewhere ).

http://www.payplan.com/debt-library/miscellaneous.php

fiveyearplan

I should have said - sorry. The banks I would like to avoid would be Barclays and First Direct/HSBC.

rayday2

Personally I would give Yorkshire Bank or Co-op ago it would greave me to say Lloyds TSB but if you must!

Sorry its hard when you have had experience with a lender to encourage others to get involved!

jo1972

I have a Natwest Step Account which does not offer any credit or overdraft facilities, you get a solo card with it.

You could also open an account with Nationwide that doesn't involve a credit check which is a very basic account. You can only open this in the branch though, not online. Also make sure you specify to them that you want the account that doesn't require a credit check otherwise they will automatically try and open you the next one up.

HTH