Basic bank account recommendations?

mwarby

amyjaj wrote: »

I have Nationwide Flex Basic. Comes with online and mobile banking as well as contactless card as standard, the only bank that does.

To be completely fair I think it's quite uncommon now not to get internet and mobile banking as standard (some are of course better in features and design than others)

The contactless card and Android/apple pay are far less common on a basic account, and while life could happily go on without, it's handy to have

amyjaj

mwarby wrote: »

To be completely fair I think it's quite uncommon now not to get internet and mobile banking as standard (some are of course better in features and design than others)

The contactless card and Android/apple pay are far less common on a basic account, and while life could happily go on without, it's handy to have

Yeah, It is really uncommon to come across contactless cards on basic bank accounts. Nationwide is the only bank I'm aware of that does give one, automatic. Here in Oxford they have started to introduce contactless payment on busses, with hope of having cash free buses in future, like London. So contactless is helpful. using contactless on the Underground is also cheapest too.


I wasn't aware that internet banking wasn't available on all basic bank accounts. I knew that you couldn't have it if you were an undischarged bankrupt.

mwarby

amyjaj wrote: »

I wasn't aware that internet banking wasn't available on all basic bank accounts. I knew that you couldn't have it if you were an undischarged bankrupt.

I recall that Barclays used to cut off internet banking (and presumably the mobile app) when you went bankrupt, and at the time Barclays were only ones offering bankrupts accounts. I recall it beinv discussed a year or 2 ago that they had stopped doing this

adyj73

I got HSBC basic and CoOP accounts when i went IVA. Both fine and HSBC did not close mine after 3 months - in fact its been my main account all through the IVA and continues to be so post IVA

I also had full access to online banking and even contactless Android Pay - although I don't have a contactless card and still can't get android pay to work on my phone :-)

Incywincy21

Sorry to jump on here...
Is a basic bank account just an account with no overdraft?
Will accounts where you don't have debts be affected?

mwarby

Incywincy21 wrote: »

Sorry to jump on here...
Is a basic bank account just an account with no overdraft?
Will accounts where you don't have debts be affected?

A basic bank account is a particular type of account, its generally reserved for those that are not eligible for a full account. These accounts have no overdraft and no cheque book, but also have no charges for unarranged overdrafts(although its setup to be very difficult to get into this state) or bounced payments.

Some banks where you have no debts will allow you to keep your old full account(with no overdraft), some will close them upon finding out about your insolvency, others will downgrade them to a basic account

You will find day to day a basic account and a current account with no overdraft act very much the same. They will both have online/mobile/phone banking, they'll both have a debit card(although not all banks issue a contactless one)

Incywincy21

Many thanks for the explanation. It all seemed very much 'the same'... and I guess many of the accounts are to some degree!
Personally, I don't care for 'contactless' much and have never had an overdraft (my problems being other debts), so I guess I won't notice it being a basic bank account very much.

Johnsmith2016

Nationwide and Barclays.

Thedoctor01

Hi Everyone,

I've got a question regarding the Basic Bank account and more specifically about the Flexbasic account in Nationwide.
Since January 2017 I've enter in an IVA because of Debs, since then I've opened a Card account online (Cashplus).
Beside paying 9.99 a month for the account, sometimes i don't have the facility to set up a direct debit and also there is no branch i can go to.
Really need to open a Bank account with high street banks, i just need the basic service. What would you recommend?
Do you know how difficult is to pass the credit check with nationwide? my credit score it's really bad but i really need to start somewhere to rebuild it.

Many thanks all.

pappa_golf

coop bank , or lloyds basic accounts have been used by a family member in thee same situation as you