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Basic banking doesn’t have to mean boring banking

Basic banking doesn’t have to mean boring banking

Category: Banking

Updated: 15/05/2017
First Published: 29/09/2010

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

You can't help but have noticed the lengths that providers are currently going to in a bid to get people to switch their current accounts.

This is because current account customers are hugely valuable to banks and building societies, as when looking for a mortgage, a loan or some other financial product, our first and sometimes only port of call will be at the place where we carry out our day-to-day banking.

However, an all singing, all dancing account with bells on is not for everybody.

Perhaps you have a poor credit score or are reluctant to pay for your current account?

Or your circumstances might have changed, meaning you can no longer fulfil the requirements set out by your existing current account.

There are a number of reasons, but whatever yours are, it could pay to look for a basic bank account.

You'll have to dig around for one, asking your bank specifically what type of basic accounts they offer, as they are often not incredibly well publicised.

Do be prepared not to have the convenience of an overdraft facility, but, if you are using a basic bank account to get your finances in good order, you should view this as an opportunity to pay down your debts, rather than accruing more.

What you will be able to do is set up standing orders and direct debits, allowing bills to be paid with ease.

By setting up payments for loans, credit card bills and other outstanding balances, you will be able to slowly but surely rebuild your credit score.

Some basic bank accounts only offer a basic cash card, meaning you will not be able to pay with goods in store with them.

If this is something you are not prepared to give up, be sure that the account you sign up for comes with a debit card. has put together a table that showcases a selection of the best basic bank accounts on the market.

Basic Bank Account Name What card does it offer?
Barclays Cash card Basic Bank Account Barclays Visa Debit Card or Barclays Cash Card
Coventry BS Call Save Money Manager Account Visa debit card
First Trust Bank (NI) Basic Bank Account Cash Card can be used to withdraw money from First Trust Bank cash machines and at any post office in Northern Ireland , England , Scotland and Wales .

Halifax Easy cash Account

Electron debit card
HSBC Basic Bank Account HSBC Cash card
Lloyds TSB Cash Account Lloyds TSB Visa debit card for use in shops, online and over the phone at home and abroad.
Nationwide BS Cash Card Account Nationwide cash card enables you to pay for goods and services in shops, online and over the phone, get cash back in certain UK stores, withdraw money and check your balance at UK cash machines, withdraw money at any Post Office® branch.
NatWest Step Account NatWest debit card allows you to make easy payments and withdraw your money from UK & overseas cash machines or any Post Office® branch
Royal Bank of Scotland Key basic bank account RBS debit card allows you to withdraw your money from UK and overseas cash machines or any Post Office® branch.
Santander Basic Account A Santander cash card which can be used at Santander, Link cash machines and at any Post Office® branch.
Secure Trust Bank Prepaid Basic Bank Account A prepaid card which you top up from money you actually have via a 24 hour telephone and internet banking service. It won't allow you to go overdrawn again - so no more unexpected overdraft charges or bank fees for bounced direct debits. Secure Trust bank Prepaid works like any other bank account - your salary or regular income is paid in and your direct debits, standing orders and regular bill payments come out.

Check our list of Best Buy basic bank accounts to find the best account for your situation.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.