Opening an instant bank account

Published on 10 July 2012 by Raffick Marday

Opening an instant bank account

Nearly all banks in the UK offer an instant bank account, to get one it is quite simple just complete an online application form or pop in to your local branch where you want to open an account. You will need to conduct a KYC check (know your customer) so bring identification with you or have it to hand if you are doing it online. Based on your circumstances and the information you provide will be based on if the bank decides to accepted the information and open the instant bank account. If not consider opening a guaranteed bank account which are also listed on our website.

Online Prepaid Banking Accounts are ‘instant’ with Free Cash Card

A bank account which gives you the flexibility that you need with no credit checks and guaranteed acceptance. Sounds good. A bank account which can be operated online or over the phone. Sounds even better. An account manager to manage your bank account, where you can even have your wages paid directly in to your account. Where do I sign? With the added value of getting your funds when and where you need them, you are also given a prepaid MasterCard that you can use online, or at over 28 million retail outlets or your local ATM machine.

Who is authorised to apply ? Anyone under the age of 18 will require parental consent.

This account is ideal for people who:

  • Cannot get a bank account, or suffer from bad credit
  • Have been turned down on a credit card application due to credit rating or bad credit.
  • Are new to the country and need an instant bank account to have wages paid in,
  • Have problems managing money - as you can only spend what you have on the card.
  • Want the convenience of a credit card but not the interest charges
  • Want to use a card online but not linked to their bank account
  • Want to share money with family or love ones but to control spending limits

Want an instant bank account with no credit checks ?

With a prepaid bank account there are no credit checks; provided you pay the application fee the pre paid bank account will be opened. There will be a monthly subscription fee to manage your prepay bank account. You can also access money from UK ATM's.

Instant bank account for businesses -

One of the first actions of many small businesses is to open a business bank account. It is absolutely essential you have one so your business can make and receive payments legitimately. However, it takes time to open the account and in most cases businesses have to make immediate payments upon setting their business up. Rather than using a personal account or your credit card you can now use a prepaid credit card.

If you're likely to start making purchases straight away and need to issue business expense cards to employees, you can now set them up on your account. Simply order as many prepaid cards as you need and you can control the spending limit on them. You can also instantly transfer money on to a prepaid credit card so there is no more need for cash receipts or petty cash. You can even send a spreadsheet to your prepaid card issuer along with one bacs payment and they will do the rest.

Bankrupt bank accounts available no matter what your credit status

If you need a bank account but have been turned down due to a poor credit rating or a recent bankruptcy, guaranteed bank accounts are now available like one banking. Simply pay the application issuing fee and monthly subscription fee and your online bank account is ready to go. Not all accounts cover all services so choose the accounts that offer 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.


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