By paying a monthly subscription fee bank account you can get more for your money
By paying a small subscription fee every month you can now get more benefits and rewards with your bank account as well as better protection and a premium banking service.
Guaranteed bank accounts available no matter what your credit status
Have you been turned down for a bank account application due to a poor credit rating? Or have you recently been made bankrupt? Just pay the application issuing fee and monthly subscription fee and you are ready to go. Not all accounts cover all services so choose the account that offers you the best service for each of your requirements. By opening a bank account and a savings account you get the best rates and services for both worlds even if they are not with the same bank.
Get To Know About The most Inclusive Banking Service
The objective of basic bank accounts is that there should be a type of banking service which is inclusive rather than exclusive. Ideally it should be a ‘free for all' service. The need for this is felt more strongly than ever in this current economic climate. A large proportion of people in modern society have, at some stage, had to face the excruciating ‘pay-your- credit-card-bills' phase in their lives.
Statistics from an organisation called Credit Action reveal that one person is declared as bankrupt or insolvent every 4.35 minutes. And the total personal debt in the UK stood at a mind boggling £1,459 billion in July 2009. .No wonder, so many people today have a troubled past when it comes to credit history.
It has become a joke that qualifying for a High Street bank is these days more difficult than qualifying for Harvard. This is exactly where the basic bank accounts come into picture as an attractive option. You can open an account for as little deposit as £ 1 and the bank will ask for nothing except your ID and address proof. No further investigations are necessary.
According to a recent survey from the organisation – Citizen Advice- those who had been declared bankrupt were being denied access to even basic bank accounts. But now thankfully with the media and organisations working towards this cause, even those who have had to deal with bankruptcy are entitled to open their accounts.
A directive by the British Government released in March of this year also said that by 2015 there shall be guaranteed access to basic bank accounts for all. The times are clearly changing, along with the general attitude to those who have experienced financial problems in the past.
But how can you determine which is the most suitable account for your specific needs? It is important to understand the risk of opening a basic bank account with a company that already holds an existing account for you. If your other account gets into debt, then your bank can simply take the money from your basic account to pay off those debts. Therefore it is probably a better to open your basic bank account with a new bank and a clean slate.
Before you make the final decision, go through the points listed below:
How many cash machines are available for withdrawing money for free?
Is the facility to access your basic bank accounts from a Post Office available?
Is the bank or its branch close to your residence or office?
So now, finally, you can stop fretting over not being able to open a bank account because of ghosts from the past. Go and get your basic bank account today and begin a new chapter in your life! It is indeed 'free for all.'
