Basic Bank Account

Basic Bank Accounts

  - Compare the best basic bank accounts, aimed at people who have no credit history or an adverse credit score, as chosen by our team of independent experts.
 

Compare the Best Basic Bank Accounts

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Interest Rate (AER)Allow Standing
Orders or
Direct Debits
Debit CardAdditional
Information
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148 accounts

0.75%
  1. Direct DebitYes
  2. Standing OrdersYes
MasterCard
  • Credit interest payable
  • Account can be opened only in branch
  • No minimum funding requirement
Details...

0.00%
  1. Direct DebitYes
  2. Standing OrdersYes
MasterCard
  • Debit card, Direct debits, standing orders
  • No credit interest paid
  • Switch Service Guarantee member
Details...

0.00%
  1. Direct DebitYes
  2. Standing OrdersYes
MasterCard
  • High ATM withdrawal limit of £500 per day
  • No account benefits
  • Switch Service Guarantee member
Details...

0.00%
  1. Direct DebitYes
  2. Standing OrdersYes
MasterCard
  • Rebate on Halifax mortgage
  • Funding of £1000pm required for mortgage benefits
  • Switch Service Guarantee member
Details...

0.00%
  1. Direct DebitYes
  2. Standing OrdersYes
MasterCard
  • Operate via web, phone or post
  • No credit interest
  • Switch Service Guarantee member
Details...
Go to Site

0.00%
  1. Direct DebitYes
  2. Standing OrdersYes
MasterCard
  • Manage via Smartphone App
  • No credit interest
  • Switch Service Guarantee member
Details...

0.00%
  1. Direct DebitYes
  2. Standing OrdersYes
MasterCard
  • Can be managed at Post Offices
  • No account benefits
  • Switch Service Guarantee member
Details...

0.00%
  1. Direct DebitYes
  2. Standing OrdersYes
MasterCard
  • Open via phone, web or branch
  • From age 18 only
  • Switch Service Guarantee member
Details...

0.00%
  1. Direct DebitYes
  2. Standing OrdersYes
MasterCard
  • Open via phone, post, web or branch
  • Available from age 18 only
  • Switch Service Guarantee member
Details...

0.00%
  1. Direct DebitYes
  2. Standing OrdersYes
MasterCard
  • Commission free travel money
  • No credit interest
  • Switch Service Guarantee member
Details...
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Last Updated: Friday 9 December 2016 17:25

Moneyfacts.co.uk Best Buys show the best products chosen by our independent experts. Where we have been able to we have also provided a link for you to apply online today. Products shown with a yellow background are sponsored products.

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What is a Basic Bank Account?

Basic bank accounts offer consumers free day-to-day banking and aims to give everyone access to banking facilities.  Basic accounts were originally set up through a government scheme to help less well off families and those who have problems opening a normal bank current account owing to a poor credit score or no credit history. 

Basic bank accounts allow you to pay in your wages, benefits, tax credits and state pension. They give you a cash card to withdraw your money and some offer standing orders and direct debits. Unlike normal bank accounts, they do not give you a cheque book or overdraft facility.

Basic bank accounts also appeal to people who are worried about overspending, as they do not allow you to go overdrawn. You can only spend the balance of your account; however, you still need to keep an eye on your funds to cover any standing orders or direct debits. If there is not enough money in your account to pay these, they will be rejected and you will be charged.

Need a New Bank Account?

Prepaid accounts are an alternative to a traditional bank account and a new way to manage your money.  With certain prepaid account cards for everyday use, there is no need for a bank account as they allow your wages to be paid onto your card and allow you to top up via BACS or with cash at a PayPoint or Post Office branch.
Find prepaid cards that allow you to pay in your wages.

Some prepaid bank cards also allow you to pay all your household bills online using their bill payment tools and keep a track of your budget and manage your expenses 24 hours a day.  Apply for a Prepaid card from the comfort of your own home.

If you are new to the UK and are finding it difficult to open a bank account, a Prepaid card may be just what you need! Read about opening a bank account without proof of address.
 
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