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Basic Bank Accounts

Information about basic banking products.

It is believed that 1 in 12 households have no access to a bank account.

Have you...

Ever been turned down when applying for a current account?

Thought you wouldn't be eligible due to a poor credit/banking history?

Thought that due to a limited income or being in receipt of benefits the banks wouldn't offer you a current account?

The high street banks not only offer current accounts but also basic accounts.

For those people who have been out of banking practice for some time, or have never held a bank account, the basic account can be seen as the first step into banking services.

Basic Bank Accounts

What a Basic Bank Account
has to offer

(this is general and may vary
from bank to bank)

What a Basic Bank Account doesn't offer

(this is general and may vary from bank to bank)

Incoming payments Wages,
Benefits etc.

No Overdraft facility

Managing the account by
Internet and telephone banking

No Visa Debit Card

To set up Direct Debits
(both in and out)

No Credit Card

To set up Standing Orders
(both in and out)

No Cheque Book

The use of a cash card to
withdraw monies at cash points and Post Office Counters

No Guarantee Card

For more information please visit the FSA's 'Just the facts about basic bank accounts' web page opposite.