We believe it would be beneficial if you had a little knowledge about some of the bad credit bank accounts available if you do have a poor credit history and what sort of features and benefits they provide and what they may or may not cost to apply for and maintain. With so many types of bank accounts for people with bad credit it can be difficult to decide which one is the most suitable to meet your needs so we hope that our website helps you make the most suitable choice.
For instance, some of the major high street banks offer basic bank accounts that may be perfectly adequate if you have a poor credit rating and this sort of account tends to be made available free of charge unless they have to return unpaid such things as direct debits because you have insufficient monies in your account.
Certain other financial institutions provide a current account for bad credit that may be an option worth considering if your credit history is poor. This sort of bank account is often referred to as a guaranteed bank account. You may be charged for applying and also may be required to pay a monthly account maintenance fee.They do not normally carry out a credit reference search. These are often suitable bank accounts for bankrupts. You can read about some of these accounts under this section.
Below are some of the companies that provide bad credit bank accounts:-
All the above will permit you to have money paid in, pay bills by direct debit or standing order and provide a debit card or cash card to withdraw cash out of “hole in the wall machines” and purchase goods and services online, in high street shops and over the telephone. You will not receive a cheque book but cheques are rarely used these days and you are unlikely to be provided with an overdraft facility but this will be less of a temptation for some people.
We hope that you find the information we provide about some of the bad credit bank accounts of benefit. With so many companies offering bank accounts for bad credit you really are spoilt for choice. Further information can be found on the individual companies websites that you should read before applying.