Having a bad credit history will often bar you from applying for that bank account with the full benefits. But this is not exactly necessary, and you’ll probably use it for only three main reasons: Money storage, travel booking, and online purchasing. And banks don’t need to run a credit check on you to do it.
Most of the people that sign up for this kind of account are ones that just got out of debt, and want to re-establish their state of finances by the quickest means available. So if you’re one of these people, or if you’re hard-pressed and deep in debt, then this is the bank account you’re looking for. Credit checks normally prevent those with bad credit history to make new accounts in the same bank, and this can be very irritating at times.
Whether you’re looking for something to even out your credit score or just something to help you get back on your feet, no credit check bank accounts are the way to go. They allow you access to financial services such as loans and credit cards –deadly useful especially when setting up to beat bankruptcy. In this case, there are no minimum bank account balances to worry about or long-winded interviews with a banker for you to deal with.
The only possible disadvantages are they charge you every time you withdraw money and have a monthly account maintenance fee. But in the long run, it’s probably okay. After all, you won’t need much to start over again –as is the case with most accounts of this kind –and the basic financial services are sufficient enough to earn you your daily bread and butter.
Applying for one in the United Kingdom is easier than you might think, and these take the form of non-status accounts bereft of the benefits of status ones, but also goes without the annoying credit check. With just a British passport and a local address, you can get things going quickly, and you can bag an ATM card with it too. Those with bad credit history or even just people starting out can have avail for this, but don’t expect any overdraft or any major credit cards such as Mastercard and Visa to be available for you from the get-go.
So if you’re looking for a bank account with no frills and just the basic services, then don’t fret. All banks are required to provide this to clients, and you won’t have to worry about them having extensive and detailed credit checks on you. In the United Kingdom, it’s quite easy to apply: just a passport and a local address are enough to get you going. With this, you can book your flights, store your money, and even purchase stuff online. Now sit for a while and ask yourself if you want more out of your situation. If you do, you won’t be able to get more because your bad credit history will get in the way. So for the meantime, stick with these instead.
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