A Review of Banks that Offer Non Status Bank Accounts

26 Sep

Created to help those people with bad credit, no credit, or a lower income, non status bank accounts have become the norm across the UK. They offer basic banking services such as a debit card, direct deposit and direct payment options from the accounts. One cannot overdraw because the account doesn’t allow it. There is no cheque book issued, nor any overdraft facilities on this type of account. It is a responsible way to bank.

There are many banks that service basic bank accounts (non status bank accounts). Here are a couple you may be interested in and what they offer:

HSBC Bank- Limits of 200 pounds per day from any UK ATM or allowed post office cash withdrawals. You will have a debit card for these transactions. You cannot use post office withdrawals in the Channel Islands nor on the Isle of Man.

Using the electronic payments services, you can pay bills, friends, and family. You can design direct debits and standing orders to pay regularly scheduled bills which my also offer discounts to you from some utility companies.

If you need statements, want to view your balances, make payments, and manage your direct debits and standing orders, you can go to an express banking machine available in the branches. You wont receive paper statements, so you will have to do this electronically, should you want them. For more information click here

Barclays Bank- This bank seems to offer more traditional banking even to those that cannot qualify for a regular account. With these non status bank accounts, you are allowed up to 300 pounds per day, if you have the funds available, through your debit card or ATM withdrawal.

You can apply for overdraft and get it, however, be aware that if you overdraw, the bank has the right to request you pay the overdraft immediately. There is also access to a personal reserve that can help in emergencies.

You can receive draw on cheques and there is no monthly fee for this account.

This account offers online and telephone banking and a network of over 1,700 branches, so there is surely always one nearby for convenience.

Who said if you don’t have great credit or past history with banks that you cannot get a useful account? They are available to just about everyone and are ready to help you remain responsible with your money. The non status bank accounts are actually a blessing to many people who need help to refrain from overspending.

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