the most basic current account

lawtz04

hi guys
heres the situation ... can someone advise please?

I need to open a very very very basic current account. preferably where they send me no paperwork and no cards or anything. I intend to put £100 pound in to use on internet transactions (hence no card needed) and will no enter any overdraft.

anyone? xx

Bokkens

Just think of a Bank and search for their web page and look at the basic internet accounts on their web page for a start.
All the major banks have a range of accounts some of which charge fees so if you want a basic acount avoid the ones that charge a fee annually or monthly.

jonesMUFCforever

If you ask for an account that sends out no paperwork you will make the bank suspicious as in why is this person trying to keep this account secret etc.
Not sure what you mean by basic account - is it the one that benefits would be paid into or do you want an account giving you the option of cards ,cheque books etc in the future?

I would go for the latter - tell them that you do not want any cards or cheque books etc and switch over to paper free statements online.

Not sure if you have thought this through properly though because if you have no card how will you transact online??

book12

Basic bank accounts comes with a card. You could leave it to one side when it arrives. As for paper work, just use online banking to see them.

Lazy_Runner

Hi OP, I was in a similar situation. I hope this helps.

I tried RBS and it seem their system is such they will automatically open a normal account for you, unless their credit checks indicate otherwise. This is an automated process.
As I had every expection of passing their credit check, and I didn't want a standard account as that would have automatically provided an overdraft; which I did not want.
"The computer says no!" to a basic account.

Anyone know of any banks where you can pop in and ask for a basic account and not be automatically put forward for a standard account?

debstar

You should try the Co-op cashminder account - this is a basic bank account. You can have direct debits and an electron card is automatic but no facilities like chqs etc can all be done over the phone and open in about 48hrs. no forms to fill out or ID to send in. very straight forward to do. you can look on their website or their telephone number is 08457 212 212..

jonesMUFCforever

Lazy_Runner wrote: »

Hi OP, I was in a similar situation. I hope this helps.

I tried RBS and it seem their system is such they will automatically open a normal account for you, unless their credit checks indicate otherwise. This is an automated process.
As I had every expection of passing their credit check, and I didn't want a standard account as that would have automatically provided an overdraft; which I did not want.
"The computer says no!" to a basic account.

Anyone know of any banks where you can pop in and ask for a basic account and not be automatically put forward for a standard account?

A bank will not apply an overdraft if you tell them that it is not wanted.

Lazy_Runner

ejones999 wrote: »

A bank will not apply an overdraft if you tell them that it is not wanted.

I am not sure about that. I asked for a 2nd account from my bank without an overdraft but this was not possible. All current accounts came with overdrafts.

As well as the overdraft limit, there is the amount banks will allow you to go overdrawn further to any already agreed limit. So even if limit is £100 say, they may let you spend upto £120 (guessing here) before they stop transactions.
I am aware this second limit also exists on other accounts. A partner of a friend went over drawn on her savings account, which I didn't believe was possible.

jonesMUFCforever

Lazy_Runner wrote: »

I am not sure about that. I asked for a 2nd account from my bank without an overdraft but this was not possible. All current accounts came with overdrafts.

As well as the overdraft limit, there is the amount banks will allow you to go overdrawn further to any already agreed limit. So even if limit is £100 say, they may let you spend upto £120 (guessing here) before they stop transactions.
I am aware this second limit also exists on other accounts. A partner of a friend went over drawn on her savings account, which I didn't believe was possible.

Rubbish! If you explicitly ask for no overdraft this can be set up. They apply a 0 strict limit on your account.