Best bank accounts for poor credit

Newstart0205

Hi 

Looking for advice on best bank accounts for poor credit. 

Currently with Santander but they will not allow me to change from a basic account. The issues I have is no contactless card (which is becoming frustrating with shops preferring contactless payments) 

do to basic account it also stops reoccurring payments which is a nightmare for a couple of my subscriptions. 

I don’t want to have to pay a monthly fee. I don’t want overdrafts or cheque books. I need to be able to pay direct debits and have my become paid in. 

Also any feedback on Monese ? 

Thanks for helping and advising 😍

northwalesd

The basic account does allow you to set up Direct Debits and Standing orders. The one thing you can't do is create continuous payment authorities on the card. Shops prefer card payments, rather than handling money, so I don't really see the big issue using chip and pin (to them - your point of view does, of course, seem to differ).

I think most banks have basic accounts, I know some people with an account elsewhere have reported that they haven't been able to open one with a different bank when they already have one elsewhere though.

I hope you find something that suits you a little better.

Daliah

Have a look at the Nationwide FlexBasic https://www.nationwide.co.uk/current-accounts/flexbasic/. This is just one of the basic accounts which looks less difficult to use than the Santander one.

Daliah

Newstart0205 said:

Also any feedback on Monese ? 

Monese is not a bank. Meaning they have no FSCS protection. So if they went bellies up, you might lose all the money you have with them, or it might take an unduly long time to get some or all of your money. Stick with a proper bank.

Daliah

Other options for you are banks which do not carry out a hard credit check - Starling, Monzo, or Chase. Careful with Chase, they are currently NOT offering Direct Debits although they keep 'threatening' they will support them soon. Chase do, however, a very nice 1% cashback on most general spending for a year.

Robbie64

I moved from the Santander basic account to the Nationwide FlexBasic as I found the Santander account annoying in many ways (two cards and no contactless being the main two). The Nationwide FlexBasic account is excellent and from what I can see it offers exactly the same features as the main Nationwide FlexAccount apart from an overdraft facility and the ability to get a chequebook.

Newstart0205

Robbie64 said:

I moved from the Santander basic account to the Nationwide FlexBasic as I found the Santander account annoying in many ways (two cards and no contactless being the main two). The Nationwide FlexBasic account is excellent and from what I can see it offers exactly the same features as the main Nationwide FlexAccount apart from an overdraft facility and the ability to get a chequebook.

Ah amazing thank you sounds perfect will look into it.

williewonder

I recommend the NW basic account. Basically does everything a normal current account does minus the overdraft and chequebook.