Basic bank account

Banking - financial services - financial exclusion.

A basic bank account is a simpler and more limited form of bank account, designed for people who are unable to access a standard bank current account, because of poor credit history or other reasons.

Basic bank accounts do not allow overdrawing.

They are usually free of fees.

See also

• Account
• Bank account
• Current account
• Deposit account
• Financial exclusion
• Overdraft
• Overdrawing
• Unbanked

Other resource

• UK Money Advice Service - basic bank accounts