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How to get a bank account with a bad credit score

Tamires Criscio
Tamires Criscio
  | Edited by Tom Church
Updated 11th November 2021

Do you have a bad credit score? You can still get accepted for a bank account. Latest Deals is here to tell you everything you need to know about getting a bank account if you have a bad credit score.

If you a have bad credit score, you might be struggling with finding a bank that accepts you. The solution to this problem is getting a basic bank account. We will tell you everything you need to know about this type of bank account below: 

What is a basic bank account?

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A basic bank account was created for those with bad credit, or bad debt. As the name suggests, this account is a basic option for storing your money and paying your bills. This account doesn’t come with overdraft facilities and any other perks that some other bank accounts offer. 

All you will get with a basic bank account is a debit card, the possibility of setting up direct debits and standing orders, contactless payments, access to ATMs, and online banking if it’s available at the bank of your choice. 

IMPORTANT NOTE: Basic bank accounts are designed to stop you from getting into debt, as they don’t offer arranged overdrafts. They can also help you build a good credit score and be able to move to a standard current account in the future. 

The ten basic bank account need-to-knows

There are ten things you need to know about basic bank accounts before applying for one. We have listed them below: 

  1. You don’t need to pass a credit check to open a basic bank account, but you still need to provide proof of ID and address. If you fail to provide these documents, your application might be denied. 
  2. Usually, basic bank accounts are free, but in some cases, you still need to pay a few fees, depending on the bank of choice. Make sure you read the terms and conditions of the account to know about future fees before getting a basic bank account. 
  3. Although they were created for people with bad credit, anyone can open a basic bank account. 
  4. Some banks don’t publicise them, so you might need to ask the bank directly if they offer it or not. 
  5. In a basic bank account, your money is protected by the Financial Services Compensation Scheme (FSCS). Usually, this scheme offers up to £85,000 coverage per financial institution. 
  6. You need to be at least 16 years old to apply for this type of account. Some banks will require you to be at least 18 years old to apply for a basic bank account. 
  7. If you have been convicted of fraud, your application is very likely to be denied, as banks can refuse people that have been convicted of fraud. 
  8. If you have become bankrupt or are in the process of becoming bankrupt, you can still get a basic bank account, which will help you to rebuild your credit score. This can change from bank to bank. 
  9. You can open a basic bank account with another person. Learn more about joint bank accounts here. 
  10. You can switch basic bank accounts as long as you apply for the same type of account with a different bank. Learn more about how to switch bank accounts here. 

How to choose a basic bank account

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The best way to choose a basic bank account is by comparing all the most popular basic bank accounts available in the UK. You need to keep in mind what you need and what they have to offer, also if there are any fees or charges that you need to be aware of. Other points are: if there are any close branches available near you and if you will have access to mobile and internet banking. 

How to get a basic bank account

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Most banks in the UK offer basic bank accounts. To get one, you need to apply online, over the phone or if you prefer, by visiting the closest branch of your choice. 

We have a complete guide about how to open a bank account in the UK, where you can learn more about the application process.

Below, we have created a table where you can find some basic bank accounts available in the UK: 

Bank’s Name Bank’s InformationBasic Bank Accounts 
Halifax Website: https://www.halifax.co.uk/
Phone Number: 0345 720 3040
Basic Account Halifax 
BarclaysWebsite: https://www.barclays.co.uk/
Phone Number: 0345 734 5345

Basic Current Account Barclays
NatwestWebsite: https://www.natwest.com
Phone Number: 0345 788 8444 (London)
Foundation Account Natwest
HSBCWebsite: https://www.hsbc.co.uk
Phone Number: 0345 740 4404
Basic Bank Account HSBC
Lloyds Bank Website: https://www.lloydsbank.com
Phone Number: 0345 300 0000
Basic Account Lloyds Bank
Metro BankWebsite:https://www.metrobankonline.co.uk
Phone Number: 0345 080 8500
Cash Account Metro Bank
SantanderWebsite: https://www.santander.co.uk
Phone Number: 0800 912 3123
Basic Current Account
TSBWebsite: https://www.tsb.co.uk
Phone Number:020 3284 1575
Cash Account TSB
Co-operative BankWebsite:https://www.co-operativebank.co.uk
Phone Number:0345 721 2212
Cashminder
Bank of ScotlandWebsite:https://www.bankofscotland.co.uk
Phone Number:0345 721 3141
Basic Account
NationwideWebsite: https://www.nationwide.co.uk
Phone Number:0345 730 2011
FlexBasic

Other options if you can't get a basic bank account

If you can't open a basic bank account, there are some other options: 

Monese Account 

Monese is technically a prepaid card, but it acts like a bank account. To open a bank account with them, you don't need proof of address. They aren't under the Financial Services Compensation Scheme (FSCS). To check their products and services, access here. 

Credit unions bank accounts 

If you can't get a basic bank account, you can try a credit union bank account. Money Helper, a governmental organisation, has a complete guide explaining more about them. 

Cashplus Bank

Another option if you can't get a basic bank account is to open an account with Cashplus. The most significant advantage of Cashplus is that the Financial Services Compensation Scheme (FSCS) protects your money up to £85,000. Learn more about Cashplus Bank here. 

FAQ

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