Discharged and undischarged bankruptcy bank accounts are available for those who have serious adverse credit. No credit check bank accounts include the managed and basic bank account - no credit scoring and guaranteed acceptance. Whilst the latter was introduced by the UK government to prevent financial exclusion, the managed account tends to be offered by debt management companies (in conjunction with financial institutions) for a monthly fee and an up-front payment. Bank accounts for bad credit won't be as comprehensive as their mainstream equivalent, but they are fine for day-to-day transactions.
No Credit Check Bankruptcy Bank Accounts
A managed or basic bank account for bad credit does not involve any credit scoring because no credit facility, such as an overdraft or cheque book, is offered to the customer. However, it provides the customer with the opportunity to set-up direct debits and standing orders, register for online banking, withdraw cash from an ATM and make payments using a Visa Delta, Electron, Solo or Maestro card. A bad credit bank account means that the customer has a place to pay-in his/her salary without the need for a cheque cashing service. A number of employers won't take on someone without a valid current account.
Managed Bad Credit Bank Accounts - Basic Bank Accounts for Bad Credit, Bankruptcy and IVA
Debt management companies, such as Gregory Pennington, offer a managed no credit check basic bank account to customers who find it difficult to get approval for a mainstream account. Whilst the basic bank account is 'currently' free from charges, a managed account will normally involve an up-front fee and a monthly charge. However, it will also bring an end to bank charges for going over the limit. The fees aren't hidden and an undischarged bankrupt is guaranteed acceptance. All accounts come with Internet banking, an ATM card, direct debits, standing orders and a debit card.
Managed Bad Credit and Bankruptcy Bank Accounts
A bad credit bank account offers discharged and undischarged bankrupts the opportunity to perform day-to-day banking transactions. Declaring personal bankruptcy no longer means financial exclusion, although it will be a lot harder to gain access to credit. Whilst no cheque book or overdraft facility will be available, it is possible to make cash withdrawals from an ATM and make payments at outlets using a debit card. A poor credit bank account won't have the functionality of a mainstream account, but it is possible to become eligible once credit scores start to improve.
SOURCE:
http://mortgagesloans.suite101.com/article.cfm/how_to_get_a_bankruptcy_bank_account
No Credit Check Bankruptcy Bank Accounts
A managed or basic bank account for bad credit does not involve any credit scoring because no credit facility, such as an overdraft or cheque book, is offered to the customer. However, it provides the customer with the opportunity to set-up direct debits and standing orders, register for online banking, withdraw cash from an ATM and make payments using a Visa Delta, Electron, Solo or Maestro card. A bad credit bank account means that the customer has a place to pay-in his/her salary without the need for a cheque cashing service. A number of employers won't take on someone without a valid current account.
Managed Bad Credit Bank Accounts - Basic Bank Accounts for Bad Credit, Bankruptcy and IVA
Debt management companies, such as Gregory Pennington, offer a managed no credit check basic bank account to customers who find it difficult to get approval for a mainstream account. Whilst the basic bank account is 'currently' free from charges, a managed account will normally involve an up-front fee and a monthly charge. However, it will also bring an end to bank charges for going over the limit. The fees aren't hidden and an undischarged bankrupt is guaranteed acceptance. All accounts come with Internet banking, an ATM card, direct debits, standing orders and a debit card.
Managed Bad Credit and Bankruptcy Bank Accounts
A bad credit bank account offers discharged and undischarged bankrupts the opportunity to perform day-to-day banking transactions. Declaring personal bankruptcy no longer means financial exclusion, although it will be a lot harder to gain access to credit. Whilst no cheque book or overdraft facility will be available, it is possible to make cash withdrawals from an ATM and make payments at outlets using a debit card. A poor credit bank account won't have the functionality of a mainstream account, but it is possible to become eligible once credit scores start to improve.
SOURCE:
http://mortgagesloans.suite101.com/article.cfm/how_to_get_a_bankruptcy_bank_account
No comments:
Post a Comment