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Getting a Bank Account

If you are in debt and have a bad credit rating due to a Bad Credit Loan, Consolidation Loan or Credit Card, you may struggle to get a bank account with some of the major high street lenders. This would apply to people who have gone bankrupt or have a history of fraud. Banks will use credit reference agencies to view your credit report to determine how reliable you are in repaying your debts and also to look at your spending habits. If you fail your options may be very limited.

For people in this position, some banks are now providing basic accounts. These are dedicated accounts for people who have had a bad credit history or are struggling with their debts. They only come with the necessities. i.e. setup of standing orders / direct debits and can be used at an ATM machine. Some will go as far as giving you a cheque book and debit card but this would be dependant on the bank.

The best thing to do is shop around for the one which suits you best. The banks will generally not advertise these accounts as they are not profitable so the only way to find out is to walk in and ask.

For help and advice on an account which would suit your situation give us a call free of charge on 0800 987 5337 or use our free call back service.