Bank Account for Bankrupts

Bank Account for Bankrupts

Bank Account for Bankrupts

Bank account for bankrupts or bankruptcy bank accounts are opened specifically for those people who have legally adopted the status of bankruptcy. These bank accounts are readily available, as the traditional high street banks are still reluctant to open up one of their basic bank accounts for the bankrupts.

Bankruptcy Bank Accounts- The Eligibility Criteria

It is easy to open the bank account for bankrupts in these financial institutions. Anyone can apply for these accounts as there are no credit history checks of the account holders, so no matter what your past credit problem may have been, they will still accept your application. You will have to be over 18 years of old and you must have a valid address for proof of identity and assuming you pass this basic criteria, you will be issued with your own bank account number and sort code immediately.

Bank Account for Bankrupts- The Features

Unlike the traditional high street banks that provide no facilities with their basic bank accounts other than just being able to deposit or withdraw money in the bank branch, the financial institutes opening the bankruptcy bank accounts provide all the facilitate that are generally available with normal bank accounts. These features are as follows:

Many bankruptcy bank accounts come with MasterCard facility. This card can be used for drawing money through the ATMs. Moreover, you can use the cards for cashless shopping in the retail outlets or on the Internet

Pay-in at any of the RBS branches or online over the Internet direct in to your new bank account.

Each of the account holders of the bank account for bankrupts will have their personal sort code and bank account number.

You are also awarded third party transaction rights for the account and the internet banking facility, like setting Direct Debits and Standing Orders.

SMS service available, updating the daily balance of the account and managing your regular payments.

How to open the bankruptcy bank accounts?

To open the bankruptcy bank accounts you simply need to contact the respective financial institutes through phone or online. They will need to identify you and whilst they guarantee no credit checks, they may be able to electronically identify you, so you may not be required to send in any further documents.

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