basic bank account
What You DON'T Get With a Basic Bank Account
Over the past few years the basic bank account has become more and more popular. At the start it was there for people who had a bad credit rating that led to them not being able to get a normal current account due to the fact they would need to be credit checked. Since then it has not only been those with bad credit ratings applying, it has been people whose credit rating it perfectly healthy. This is because with a basic bank account there is no overdraft, and therefore no overdraft charges. There are however some features that you are missing from a basic bank account, and these are detailed below.
First of all is the cheque book. Although the humble cheque is being slowly phased out, it is still used and is particularly convenient when you need to send a payment through the post. The majority of basic bank accounts lack a cheque book – though almost invariably they do have the facilities to pay cheques in if you receive one. › Continue reading
