Personal Bank Accounts – the majority of people have a bank account, even if it is just a basic one. There are all kinds of super dooper bank current accounts that give you all kinds of extra benefits, but you will have to pay an extra fee each month for these.
Cash notes are reducing in use and circulation every year now, especially when you have services like Contactless payments, which are so quick and easy to use.
All types of government payments and benefits are all paid by bank transfer into your bank account for safety and to have a record. It is anticipated that this will just keep increasing until we have a cashless society.
When people get into debt problems, sometimes things like Direct Debits and Standing Orders do not get paid due to lack of funds. Most of the High Street type banks will actually penilise you when this happens and instead of helping, they will actually charge an extra fee for each payment missed!
Do You Need A New Personal Bank Account?
So if you are in this position, you could find that your existing bank might ask you to leave if the situation continues. This could be the ideal time to switch bank accounts to a bank that do not penilise you for failed automated payments.
Perhaps you have a bad credit history, but need to open a new bank current account? Maybe you are not long living in the UK and have no proof of address? Haven’t built up any credit history at all? This might also make some banks refuse your application.
So, for all of these reasons and more, you might be interested in the personal bank accounts with bad credit we have to offer on this website.
If you go to the main page for bank account offers, you can see what might suit you particular financial circumstances.
See also bank card without a credit check.