Poor credit bank accounts are available to be opened for those who are bankrupt. These bank accounts are not available in the traditional high street banks, instead they are opened up and available direct for you to open.
Poor Credit Bank Accounts- How different they are from the traditional bank accounts?
Bankruptcy is legal financial status applicable to those individuals who are unable to repay their debts, due to their lack of funds. The traditional banks are reluctant to open the current and savings accounts of these bankrupts in their banks. If ever they open up the accounts of the bankrupts in their banks, they provide no other facilities with the account, which may generally come with a normal bank account. Hence, opening up bad credit current accounts or savings accounts with these traditional banks are useless.
Unlike these traditional banks, the monetary firms providing poor credit bank accounts have facilitated all the items attached with a normal bank account.
Poor Credit Bank Accounts- The Features
These poor credit bank accounts have the following features attached to them.
Each of these bank accounts come with MasterCard that may be used to draw money from the ATMs and like a debit card, can be used online or in a shop to purchase goods or service.
Pay-in online or at any RBS branches across the country.
You will also be given a personal sort code and the bank account number for your poor credit bank account.
Set up Direct Debits or Standing Orders
Internet banking facility allows access to your bank account 24/7
SMS balance updates or amend regular payments by text
How to apply for the poor credit bank accounts?
There are many monetary firms that open up these types of bank accounts. You may contact them online for opening these accounts. You will have to fulfill certain easy terms and conditions to open these accounts. You may also contact them individually for any specific questions you have regarding setting this basic bank account.