Is your bank account application turned down by the banks? Do you want to open poor credit rating bank account but unfortunately, don’t know much about it? If yes, they this is the right place for you. Here, you will find almost all the answers of your queries related to these accounts.
What are poor credit rating bank accounts and can one take it any of its poor credit problems?
As its name says these accounts are meant for the people having poor credit ratings. Most of the reputed bank offer these account to all individuals without any credit check. It means people having credit issues like CCJ, arrears, defaults, IVA or even bankruptcy can apply for these accounts without any restriction.
What are the eligibly criteria and fees related with the account?
Eligibility criteria set up by the banks are quite simple. In order to acquire these accounts you just need to provide your identity and address proof. As soon you provide these proofs they ask you pay account opening fee and monthly charges. Both of these fees are quite affordable and won’t create any type burden.
What are the benefits and facilities offered by these bank accounts?
Poor credit rating bank accounts offer multiple benefits and services to the account holder. Mostly banks offer these account without credit check and with guaranteed acceptance. Majority banks offer basic banking facility with the account such as direct deposit of your salary and wages and pay in cash or cheques or set up standing orders to pay various bills. Facilities like a debit card, cheque book, internet and telephonic banking and overdraft in return of reasonable fees are also provided with these accounts. Banks also appoint personal money manage that look after your financial transactions and assist you in taking the right financial decision.