Basic Bank Accounts
Compare Cheap Basic Bank Accounts
Compare the best basic bank accounts in the UK with MoneyRaters. We provide more than just the price – you can see the features and benefits of each account, so you can make an informed decision that’s right for you.
Our Top Basic Bank Account Providers
Compare Best Basic Bank Accounts For You
If you’re looking for a basic bank account in the UK, MoneyRaters.com can help. We compare a range of providers to find you the best deal. Our price comparison tool will show you which banks offer the lowest fees and the best features. Plus, you can look out for our price cut banner to see if you could get a discount. With MoneyRaters.com, you can find the perfect basic bank account for your needs.
The features and benefits of basic bank accounts offered by comparison websites vary depending on the provider. Generally, basic bank accounts offer features such as: – Direct debits and standing orders – Access to online banking – A debit card – Access to cash machines – Ability to set up direct deposits – Ability to pay bills online – Ability to receive payments – Ability to transfer money between accounts – Ability to set up overdrafts – Ability to receive text alerts – Ability to receive statements – Ability to set up savings accounts – Ability to access customer service – Ability to access budgeting tools – Ability to access financial advice – Ability to access financial education resources.
The eligibility criteria for basic bank accounts offered by comparison websites vary depending on the provider. Generally, you must be over 18 years old and a UK resident to be eligible. You may also need to provide proof of identity and address. Some providers may also require you to have a minimum deposit or to pass a credit check. It is important to check the eligibility criteria for each provider before applying.
The average length of time it takes to open a basic bank account through a comparison website can vary depending on the bank and the type of account you are opening. Generally, it can take anywhere from a few minutes to a few days to open a basic bank account. It is important to check the terms and conditions of the bank and the comparison website to ensure that you are aware of any potential delays.
How Can We Help You With Basic Bank Accounts Today?
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Our basic bank accounts service makes it easy to find the right account for you, whether you’re looking for a no-frills account with no overdraft facility or one with a range of features. We can help you compare the different options available, so you can make an informed decision about which account is best for you.
Our guides provide more information on the features of basic bank accounts, such as debit cards, direct debits, standing orders, online banking, and mobile banking. We also explain the differences between basic bank accounts and other types of accounts, such as current accounts, student accounts, and joint accounts.
We can also help you understand the eligibility criteria for basic bank accounts, and how to open one. Plus, we provide advice on how to manage your money, such as budgeting tips, how to avoid overdraft fees, and how to switch accounts.
So, if you’re looking for a basic bank account, our service can help you find the right one for you.
Basic Bank Accounts FAQs
Frequently Asked Questions - Basic Bank Accounts
What is a basic bank account?
A basic bank account is a type of bank account that is designed for people who may not be eligible for a standard current account. It offers basic banking services such as direct debits, standing orders and debit card payments, but does not usually offer an overdraft facility or a cheque book.
What are the benefits of having a basic bank account?
The main benefit of having a basic bank account is that it allows you to manage your money more effectively. A basic bank account provides you with a secure and convenient way to manage your finances, allowing you to pay bills, receive payments, and make purchases. It also helps you to build a credit history, which can be beneficial when applying for other financial products.
What are the eligibility criteria for a basic bank account?
The eligibility criteria for a basic bank account vary from bank to bank, but generally you must be over 18 years old and a UK resident. You may also need to provide proof of identity and address.
What are the fees associated with a basic bank account?
The fees associated with a basic bank account vary depending on the provider, but typically include a monthly fee, overdraft fees, and fees for additional services such as direct debits and standing orders.
What documents do I need to open a basic bank account?
To open a basic bank account in the UK, you will need to provide two forms of identification. This can include a valid passport, driver’s license, national identity card, or a utility bill. You may also need to provide proof of address, such as a recent bank statement or a council tax bill.
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