Jonathan Halloway

Expertly compared by Jonathan Halloway

Products Updated April 19, 2018

Prepaid Cards With Basic Bank Account

We have displayed below all the best prepaid card issuers who offer a basic bank account as part of their card application. These accounts are perfect if you have a history of adverse or bad credit or dont have any credit file or low credit score. Anyone can apply and be guaranteed to be accepted for this card and bank account.


What are these cards?

Have you been refused a bank account due to poor credit? It is estimated that around one million people in the UK are unable to have even a standard bank account, and feel shut out from the world of banking. However, even if you do have very bad credit, it is still possible to get what is known as a basic bank account. This product has been specifically designed to help people with poor credit get into banking. The main difference between the basic bank account is that you will not be allowed an overdraft. If you do happen to go over your limit, you may be charged as much as £8 a day. In addition, you may not have a debit card, but will instead be given a cash card, which only allows you to withdraw money - with the card you won't be able to write cheques, or use it in shops or online.

Who can get these basic bank accounts?

Are you interested in getting a basic bank account? Even if you have bad credit, or a poor credit history, you can still get a basic bank account. Even after CCJs or recent bankruptcy rulings, you will still be eligible to apply. The only people who cannot get these kinds of accounts are those who have previously been convicted of fraud. As long as you can prove your identity, your address and provide other information about yourself, you will be eligible for this basic account.

Why should I use one?

Having a basic bank account can be the first step towards better control of your finances, and a better credit score. With one of these accounts, you will be able to take wage payments, pay out money to companies, and use the account to buy goods, just as with a normal account. You may even be able to get a debit card which will allow you to buy online, or in shops. Even if you don't get a card with the account, you can still use it as your financial base. Rather than struggling to cope without an account, the basic bank account will help you to manage your finances and take steps to improve your credit rating.

What options do I have?

If you have been struggling financially, then one of the ways that you can try to deal better with your money is through the use of a prepaid card. These help you to stop overspending, and ensure that you can manage all of your bills and debts. Prepaid cards can be used by themselves, for the purposes of trying to improve your credit rating, or they can be combined with a basic-style bank account to give you the ability to transfer wages into the account, and then use the card to make purchases. Because you transfer money onto the card prior to spending, you can keep your finances in order by only putting onto the card what you have available to spend.

There are several prepaid card companies offering bank accounts, including Cashplus, and Eccount. Both of these offer a prepaid card along with a basic-style account. There are several advantages to this type of card, including no overdraft, no credit checks, and an 'almost' guaranteed acceptance. However, there are also some negatives which may make you think again. For example, some of these accounts charge more than £5 for the privilege of using your own money, and there may be ATM and other fees on top of this. Essentially, you will be paying premium account rates for a basic account. Most banks offer debit cards with the basic account which could better suit your needs.

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