Best Basic Bank account

Mart7379

Hi guys, 
I currently bank with Monzo, one of the benefits of this account is the option to receive your wages after 4pm the day before. 

Are there any high street banks that offer the same or similar. My wife has a basic account with Santander and she says her wages usually hit her account around 10pm the night before. But I don’t like the fact you have to have 2 accounts, and 2 cards, and have to transfer money from a holding account to a spending account whenever you need to pay for something. Due to being undischarged Bankrupt my options are limited to Basic Bank accounts 

I am happy with the Monzo set up and quite often take advantage of the ‘get paid early feature’. But read a few stories on review site about people having their Monzo account closed for no apparent valid reason and having to fight to get their money back. 

Thanks

mab3000

I believe monzo are unique in offering the facility to access salary payments the afternoon before payday. 

PRAISETHESUN

I definitely agree that you should have a backup for your Monzo account but all basic bank accounts do basically the same thing for the most part. I've held Santander and Bank of Scotland accounts in the past and they were serviceable - although I agree that I disliked the two card setup that Santander provided. I've heard good things about the Nationwide FlexBasic account (https://www.nationwide.co.uk/products/current-accounts/flexbasic/features-and-benefits, never held one though), otherwise see here: https://www.moneysavingexpert.com/banking/basic-bank-accounts/

As for the getting "paid early" feature, I personally it's more of a marketing gimmick than anything else. The very first month you get paid a day early sure, but from then there is still the same 28-31 day gap between paychecks regardless of which bank you are with.

Mart7379

Thanks, yes I am sure it is a marketing gimmick. I have been using my Monzo account for the last 4-5 weeks and not had any issues with it, and do use the ‘get paid early’ most weeks. Although one thing they do need to improve on is security in terms of being automatically logged out when the app is closed like all other banks do, don’t get me wrong they and you are covered by the financial services but could do without the stress if anyone were to access my account and clear me out. (Monzo you physically have to log out before closing the app). 

I spoke to HSBC last night l, I have an existing basic account with them. Who informed me wages going into my account usually hit around 10pm the night before. I did have a current account with Santander, however as it was a current I wasn’t allowed to continue using it once I was declared bankrupt as the OR took control and Santander informed me once they finished with the account it would be closed and my only option if staying with them was the 2 card basic account. 

Alex9384

Mart7379 said:

...
But I don’t like the fact you have to have 2 accounts, and 2 cards ...

Most people on this forum will strongly recommend you to have at least 2 current accounts and 2 cards (ideally both Visa and MC) with 2 different banks. Bank can close or freeze your account whenever they wish and you'll be left out of pocket. Banks and payment network can also experience outages (unlikely, but it has happened).

Mart7379

Yeh got 2 different cards with 2 different banks. Just don’t like the idea of having 2 cards for the same bank account

colsten

Mart7379 said:

Yeh got 2 different cards with 2 different banks. Just don’t like the idea of having 2 cards for the same bank account

There are no basic bank accounts that offer two debit cards. In fact, there aren't really any 'proper' current accounts that do that, either. 

pmduk

IIRC Santander give you an ATM card and a top-up debit card,  hence the two cards, though I'm prepared to be corrected, my memory's not what it was.

EarthBoy

pmduk said:

IIRC Santander give you an ATM card and a top-up debit card,  hence the two cards, though I'm prepared to be corrected, my memory's not what it was.

You're correct. They give you two different cards, so it makes using the account a bit of a faff. 
As far as I know they're the only bank which does that. Maybe they've designed it to be purposely complicated to put people off opening a basic account?
https://www.santander.co.uk/personal/current-accounts/basic-current-account

colsten

I didn’t know about the two cards at Santander but I maintain there is no basic bank account with two debit cards

Mart7379

colsten said:

I didn’t know about the two cards at Santander but I maintain there is no basic bank account with two debit cards

I never said there was a bank account with 2 debit cards 😀 my wife has the Santander basic account and has a cash card and separate debit, I always have to make sure I have picked up the right card when she sends me to the shop when she can’t be bothered going herself 

this thread is going slightly off topic, and since had my question answered. 

Thanks all for your input.