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Basic bank accounts
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Our basic bank accounts
Here are some of the basic bank accounts that we have to compare.
Get £20 when you spend £20 & up to 4% AER (variable)** paid daily with no monthly fee
Standard
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Switch Incentive
Get £20
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Arranged overdraft
N/A
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Account Fees
None
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Rewards and other perks
Earn 1 RevPoint per £10 spent***
Representative example: N/A - no credit facility offered.
Important information & opening criteria
Account details:
Switch Incentive: Spend £20 to get £20 when you open an account*
Interest Rate: 4% AER interest on in-credit balances up to £200000
Overdraft: No overdraft facility
Rewards: Earn 1 RevPoint per £10 spent*** up to 4% AER variable on savings, £1,000 monthly currency exchange with no additional fees****
Other Perks: No monthly subscription fee, manage an <18 account, access eSIM data plans, set goals or round up spare change to grow savings.
Important information:
*New customers, 18+, in eligible countries only. End date & T&Cs apply **Interest offered is subject to change & interest earned is liable to applicable taxes. Instant Access Savings T&Cs apply ***Standard customers must enable Spare Change to earn RevPoints on card spend which rounds up transactions & converts spare change into RevPoints. T&Cs apply ****Monday to Friday, weekend mark-ups apply
1% cashback on debit card spending on groceries, everyday transport & fule, + linked savings account
Current Account
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Switch Incentive
N/A
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Arranged Overdraft
N/A
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Account fees
None
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Rewards and other perks
1% cashback on select debit card spend
Representative example: N/A - no credit facility offered.
Important information & opening criteria
Account details:
Overdraft: No overdraft facility
Rewards: 1% cashback on select debit card spend on groceries, everyday transport & fuel for your first year
Other Perks: Linked savings account 3.00% AER/2.96% gross variable. Paid monthly, Chase current account required. T&Cs apply. 18+, UK residents
Important information:
18+, UK residents. Cashback available for your first 12 months. Eligibility applies. Max £15 per month. Exceptions apply. May be changed or withdrawn. Joint accounts not available
What is a basic bank account?
Basic bank accounts are designed for people who don’t qualify for standard current accounts. This could be because they have bad credit or have been in financial trouble in the past. These accounts are stripped back, focusing on essential services.
They usually include the following:
Somewhere for your wage to be paid into
Direct debits and standing orders
A debit card
ATM withdrawals
Can I open a basic bank account with bad credit?
Yes, even if you have a bad credit score, you can open a basic bank account. The accounts are specifically tailored for anyone in this situation.
By not offering an overdraft, these accounts prevent users from accruing more debt, which can be a crucial step in managing finances and rebuilding creditworthiness.
Main features of a basic bank account
Here are the main features of a basic bank account:
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No fees
You will not be charged any fees when you open a basic bank account
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Full access
With a basic bank account, you will still have full access to online, in-branch, and mobile banking services
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Debit card
You will get a debit card for making purchases and withdrawing cash
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Direct debits
You will be able to set up direct debits and standing orders
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No monthly fees
Basic bank accounts will not charge you fees to kee the account open and you also won't be charged for failed payments
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Regular statements
You will be sent regular statements and free text alerts to help keep track of spending
What's missing from a basic bank account?
While basic bank accounts offer many essential services, they usually do not provide:
Overdraft facilities
A chequebook
Extra perks such as insurance policies, rewards, cashback or in-credit interest
These limitations are intentional, designed to protect users from potential financial pitfalls.
Can you be refused a basic bank account?
It's rare to be refused a basic bank account due to bad credit. However, you might be turned away if you don't meet other eligibility criteria, such as age or residency requirements, or if the bank determines you qualify for a standard current account. Additionally, a history of fraud could be a barrier to opening a basic bank account.
What is the difference between a basic and a standard account?
Feature | Basic bank account | Standard current account |
|---|---|---|
Overdraft | No | Yes, depending on your credit score |
Fees | No | There may be a monthly fee |
Extras | No | There may be cashback, interest paid on your balance, or extras such as insurance policies or rewards on spending |
Access | Online, in a branch, via online or app-based banking | Online, in a branch, via online or app-based banking |
What are the pros and cons of basic bank accounts?
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The pros
A basic bank account allows you to manage your finances, usually with no extra fees
Opening a basic bank account can help build your credit score, potentially leading to better financial products in the future.
The absence of an overdraft facility means you can't spend more than you have.
You'll avoid fees associated with overspending, which can add up quickly.
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The Cons
Without an overdraft, there's no cushion for short-term borrowing needs.
Basic accounts offer fewer perks and rewards than standard accounts.
Typically, no interest is earned on the money in your account.
What are the alternatives to basic bank accounts?
Credit unions
These are non-profit financial organisations set up to benefit a community where the members tend to have something in common, such as living nearby or working in the same industry.
A few credit unions offer bank accounts to those with a poor credit rating, but there may be a monthly fee – and you might have to commit to retaining a specified minimum balance in the account.
Prepaid bank accounts
These are debit-card-based accounts that act like a bank by allowing you to pay in income and your bills by direct debit. But they do not offer an overdraft or borrowing facility.
While prepaid card providers don’t run a credit check, they often charge monthly fees, cash withdrawal fees and even fees for standing orders or direct debits. It means this can be a more expensive way to manage your money.
Prepaid accounts can be topped up at pay points, post offices and via automatic bank transfers (BACS payments).
Other useful guides
For more information on banking, MoneySuperMarket provides a wealth of resources.
How to switch current accounts
Trusted Service Awards Winners
MoneySuperMarket has won the Feefo Platinum Trusted Service Award, an independent seal of excellence, which recognises businesses that consistently deliver a world-class customer experience.
How to compare basic bank accounts with MoneySuperMarket
MoneySuperMarket can help take the stress out of finding a basic current account by comparing accounts from a range of leading providers
What charges come with a basic bank account?
You will be charged for using your debit card overseas and same-day CHAPS payments (you should be alerted in advance about the charges for these payments).
How can I improve my credit score?
First and foremost, you can improve your credit score by paying back in full money you’ve borrowed. But while you’re working on that, here are some more ways you can fix your credit rating:
Registering on the electoral roll
Setting up direct debits to avoid missing repayments
Avoid applying for more financial products than you need
Checking your credit file for errors which could be harming your score
You can also take control of your credit score with our free credit monitor service. Check your credit report and score and get free personalised tips on how to improve it
Worried about bad credit? Our comprehensive guide has more ways to improve your credit score.
Will using a basic bank account help to build my credit?
Yes, a basic bank account can help to build your credit score because of its features. As these accounts don’t come with an overdraft you don’t have to worry about your account going into minus. You can use your basic bank account to set up direct debits to ensure your credit card payments are cleared, preferably in full.
Can I switch to a basic bank account?
Yes, a basic bank account can help to build your credit score because of its features. As these accounts don’t come with an overdraft you don’t have to worry about your account going into minus. You can use your basic bank account to set up direct debits to ensure your credit card payments are cleared, preferably in full.
Check your bank statements
It’s a good idea to check your account statements regularly, because this could stop you going into your overdraft without knowing. It can also be a good way to double check whether there are any transactions you don’t recognise.
Customer service
Look for a provider with good customer service, because you never know when you’ll need to call them up or go into a branch to fix an issue.
How to keep your PIN safe
Remember to be careful with your PIN and account details; you should keep this information safe and protected. Remember, your bank will never ask you to reveal details like your PIN, either on the phone, in person or through an email.
Mobile banking apps
Your bank will almost certainly have an app that lets you manage your account online, and some may even be based on their app. This is excellent for quick and easy money management.
How to transfer money
Each bank has different ways of transferring money. Some require you to use a card reader when transferring any sum of money, while others only use it for transactions over a set amount.
Other banks do not use card readers at all, so if money transfers are something you might be doing a lot of, it’s worth checking the policy details to see how easy it is to make payments on the go.
Do you really need paid benefits?
If your current account comes with benefits such as air miles, you might want to check whether you really need them. For example, if you’re not a frequent flyer, is an air miles bonus worth the extra cost of the monthly fee? The same goes for any other attached benefits such as travel insurance.
Reviewed on 18 Dec 2025 by
