Bad Credit Bank Accounts Stay Unaffected By Poor Credit Score
It is very necessary to have the bank account because without it you will not be able to avail various financial services
. However, for so many people getting this facility is not easy due to the poor credit history. Bad credit bank accounts are the way through which these people can open account in the bank of the UK.
With the help of this facility people, who cannot qualify for the traditional account, can easily open the account. Under this scheme customers with the credit report like default, late payment, CCJs, or insolvency will be able to open the account.
In many ways this account is not different from traditional account. You can use all the services that are offered by the bank in normal account as well. You can use the ATM or shopping through your personal debit card.
However, there are many services that you cannot get due to your bad credit history like
You are not eligible to use the cheques for any purpose.
You cannot use your debit card to purchase anything if the credit in the account is low.
Some banks also charge you monthly fee to maintain your account.
You also need to pay the activation fee. This works as security for the bank in case you overdraft and do not pay back.
Basically the facility you get in bad credit bank accounts are depends up on bank to bank. Every bank has its own terms and conditions to offer you. Some banks help you to manage your money as well.
They provide full assistance so that you pay your bills timely. You also get the number of options for money deposits and withdrawals. Sometime you also get to use the prepaid debit card which will provide you more freedom in using the money.
You can find this service by looking around online. It is easy and you will not get frustrated by doing so. Just sit at the front of your computer and avail this beneficial scheme with no tension.