Opening first bank account

RTC

Hello everybody,

I am looking to open my first bank account at the age 26, I haven't done so before as due to disability my mother has handled my finances but in the past few months, I've moved out on my own so want to take control of my own finances and have a bit more independence.

I would like to open the bank account online if possible (I am aware that may include sending stuff off) and I would like to have the choice of a contactless card if possible, The account will be used for just general everyday stuff so I was wondering if anybody could suggest any accounts that would sound right for me as my knowledge on this stuff is super limited.

Thanks :beer:

Robin9

All your requirements are perfectly standard with all bank accounts.

Kim_13

The following is the MSE round up of the best bank accounts: https://www.moneysavingexpert.com/banking/compare-best-bank-accounts?_ga=2.131379663.1798824297.1513112874-1010848097.1513112873

As you haven't had a bank account before, it may be that you don't have anything on your credit file (unless you've had a catalogue account or phone contract in your name for instance) and may well be declined for standard accounts, as they require a credit check due to it being possible to go overdrawn with them. Some banks will only grant a basic account once you've applied and been refused for a standard account.

Some basic accounts won't allow a contactless card (though I've just had a quick look on Nationwide's website and theirs will) so perhaps try them, as they're a top pick with the FlexDirect if they accept you. If they'll only give the FlexBasic instead then it still meets your requirements.

What branches do you have near you, in case you need to pay in cheques or anything going forward? A downside with Nationwide is that they don't have the facility to pay in at a Post Office branch.

Are you on the electoral roll at your address? You're less likely to have to provide ID if you are.

This is the link to MSE article on Basic Bank accounts, in case you want to read a bit more about them: https://www.moneysavingexpert.com/banking/basic-bank-accounts?_ga=2.69121361.1798824297.1513112874-1010848097.1513112873 . Most of the top picks require opening in branch though, so I haven't mentioned them elsewhere in my post.