Body & Soul3 mins ago
Basic bank account
3 Answers
I read in the paper some weeks ago about the Halifax not allowing people with basic bank accounts to do business in the bank and having to use the cash machine to deposit or withdraw money. I have looked on the internet but can't find anything about it. Can anyone help please? Thanks
Answers
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For more on marking an answer as the "Best Answer", please visit our FAQ.A "basic bank account" is usually offered to customers who do not have a very good credit history, it allows them to have a bank account but without any credit facilities e.g overdraft or debit card, however they can still arrange credits in and direct debits out. It is often used by those wishing to receive benefits etc. The bank does not make much money from these type of accounts so, therefore. do not encourage the customer to visit the branch.