Card One Banking Account – The Review

Card One Banking provides a managed current account into which funds can be paid, direct debits and/or standing orders can be set up to pay regular household bills and it also comes with a prepaid debit card. We review the CardOneBanking account that is quick and simple to apply to open and is suitable for many people with a poor credit history as no credit check is undertaken.

How do you open a CardOneBanking account?

You must be at least 18 years of age and resident in the UK. It is potentially suitable for a variety of people including those that are employed, self-employed, retired and unemployed.

You can apply online which only takes a few minutes. Identification and address verification are usually carried out by electronic means as a result of which an account can often be opened straight away.

Is a credit reference search made?

No, you will be pleased to read that no credit reference search is made about your credit worthiness.

The account is available even if you have an unsatisfactory credit history. Therefore, it does not matter if you are in arrears with your mortgage, behind with your rent, are late in making the minimum payment on your credit card, have defaulted on a loan or have exceeded your overdraft limit. It is also worth noting that these sorts of accounts are usually suitable bank accounts for bankrupts.

What does the CardOne Banking account provide?

You can arrange for your wages, salary, benefits or pension to be paid straight into the billing account and then arrange to pay regular household bills such as your rent, home insurance and utility bills by direct debit and/or standing order.

The remaining funds can then be transferred onto your CardOneBanking prepaid Mastercard. You can access these funds by withdrawing cash at ATMs that display the MasterCard Acceptance Mark up to a maximum of £450 per day or you can take out up to £2,000 in cash at banks in the high street. You can buy items in shops, online or by phone using the card. You can also use the card abroad.

You can pay cash and/or cheques into your account through any branch of National Westminster Bank.You can pay cash into your account at the Post Office. Funds can also be transferred into the account from other bank accounts in the UK.

You can use the account along with your Paypal account.

Online banking is provided enabling you to manage your account.

It is also possible to check your account balance or add funds to your prepaid MasterCard by using your mobile phone.

An automated telephone banking service is provided 24/7.

A one-to-one account manager is available to discuss matters with.

You do not get a cheque book or overdraft facility which is normally the case with these sorts of accounts that tend to be suitable for people with a poor credit rating.

How much does the account cost?

There is no fee to apply for the account.

There is an administration fee of £12.50 per month for a sole account and £17.50 per month for a joint account. There are no fees for standing orders. There are certain fees to use the prepaid debit card. Please refer to the website of CardOneBanking for full details of fees.

We provide a number of reviews of similar accounts such as the Cash Plus Account.

CardOneBanking Business Account

The company also provide the Card One Banking Business Account that can be opened by sole traders, partnerships and limited companies with a turnover not exceeding £2 million.You can apply online or over the phone. There are no credit checks carried out on the owners of the business or the directors although the business is checked to establish that it is not about to go into or is already in an “Insolvency Event”. Some of the services include a CardOneBanking Prepaid Corporate MasterCard, you can pay cheques and cash into the Business Account through Barclays Bank branches and arrange to have monies paid direct into the account by your clients. Direct debits and standing orders can be set up. The account can be managed online and you have access to an Account Manager. No cheque book or overdraft facility are available. There is an application fee of £55 and a monthly administration charge of £12.50. Other fees apply, details of which can be found on the company’s website along with more detailed information about the services provided.

Conclusion about the Card One Banking Personal Current Account

We trust that you found our Card One Banking Current Account review informative.  It is one of several poor credit current accounts available in the UK and provides many banking services such as a prepaid debit card, direct debits, pay monies in and online banking.
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