Do you need a parachute account?

**barracad** · 30th June 2006 19:07

Below is a list of basic bank accounts available for people who need a parachute account icon

, but who may struggle to open a 'regular' current account.

The details are in alphabetical order so one bank is not recommended over another.
For ease of reference, the only two which offer debit cards are Co-op (Electron Card) and NatWest (Solo Card). However, I have also included a list of their charges which may sway people who aren't too fussed about a debit card. [Please note charges can change so please check with the bank]

Abbey
Basic Account

Minimum age to open an account: 16
Minimum amount to open an account: None
Free buffer zone: No
Direct debits and standing orders: Yes
Charge for unpaid direct debit: £35
Debit card (Solo or Electron): No
If any of the following apply to you, your application may be declined: Undischarged bankrupt, record of fraud.

Alliance & Leicester
Basic Cash Account

Minimum age to open an account: 16
Minimum amount to open an account: None
Free buffer zone: No
Direct debits and standing orders: Direct debits only
Charge for unpaid direct debit: £34
Debit card (Solo or Electron): No
If any of the following apply to you, your application may be declined: Undischarged bankrupt, some bad debts depending on individual circumstances.

Bank of Ireland
Basic Cash Account
(Only available in Northern Ireland and Eire)

Minimum age to open an account: 16
Minimum amount to open an account: None
Free buffer zone: No
Direct debits and standing orders: Yes
Charge for unpaid direct debit: £38
Debit card (Solo or Electron): No
If any of the following apply to you, your application may be declined: Undischarged bankrupt, record of fraud, record of bad debts.

Bank of Scotland
Easycash

Minimum age to open an account: 16
Minimum amount to open an account: None
Free buffer zone: No
Direct debits and standing orders: Yes
Charge for unpaid direct debit: £39
Debit card (Solo or Electron): No
If any of the following apply to you, your application may be declined: Undischarged bankrupt, record of fraud.

Barclays
Cash Card Account

Minimum age to open an account: 18
Minimum amount to open an account: None
Free buffer zone: No
Direct debits and standing orders: Direct debits only
Charge for unpaid direct debit: £39
Debit card (Solo or Electron): No
If any of the following apply to you, your application may be declined: Record of fraud.

Clydesdale
Cashmaster

Minimum age to open an account: 16
Minimum amount to open an account: None
Free buffer zone: No
Direct debits and standing orders: Yes
Charge for unpaid direct debit: £35
Debit card (Solo or Electron): No
If any of the following apply to you, your application may be declined: Undischarged bankrupt, record of fraud, some bad debts.

Co-operative Bank
Cashminder

Minimum age to open an account: 18
Minimum amount to open an account: None
Free buffer zone: No
Direct debits and standing orders: Yes
Charge for unpaid direct debit: £19.50
Debit card (Solo or Electron): Yes
If any of the following apply to you, your application may be declined: Record of fraud.

First Trust Bank
Basic Bank Account

Minimum age to open an account: 16
Minimum amount to open an account: None
Free buffer zone: £10
Direct debits and standing orders: Direct debits only
Charge for unpaid direct debit: Under £35: £22.50; Over £35: £37.50
Debit card (Solo or Electron): No
If any of the following apply to you, your application may be declined: Undischarged bankrupt, record of fraud, record of bad debts.

Halifax
Easycash

Minimum age to open an account: 16
Minimum amount to open an account: None
Free buffer zone: No
Direct debits and standing orders: Yes
Charge for unpaid direct debit: £39
Debit card (Solo or Electron): No
If any of the following apply to you, your application may be declined: Undischarged bankrupt, record of fraud.

HSBC
Basic Bank Account

Minimum age to open an account: 18
Minimum amount to open an account: None
Free buffer zone: £10
Direct debits and standing orders: Yes
Charge for unpaid direct debit: No
Debit card (Solo or Electron): No
If any of the following apply to you, your application may be declined: Undischarged bankrupt, record of fraud.

Lloyds TSB
Basic Bank Account

Minimum age to open an account: 18 (16-year-olds can open a similar account)
Minimum amount to open an account: None
Free buffer zone: £10
Direct debits and standing orders: Yes
Charge for unpaid direct debit: No
Debit card (Solo or Electron): No
If any of the following apply to you, your application may be declined: Undischarged bankrupt, record of fraud.

Nationwide Building Society
Flex Cash Card

Minimum age to open an account: 16
Minimum amount to open an account: £1
Free buffer zone: No
Direct debits and standing orders: Yes
Charge for unpaid direct debit: £30
Debit card (Solo or Electron): No
If any of the following apply to you, your application may be declined: History of fraud.

Natwest
Step Account

Minimum age to open an account: 16
Minimum amount to open an account: None
Free buffer zone: No
Direct debits and standing orders: Yes
Charge for unpaid direct debit: £38
Debit card (Solo or Electron): Yes
If any of the following apply to you, your application may be declined: Undischarged bankrupt, record of fraud.

Northern Bank
Cashmaster - Basic

Minimum age to open an account: 16
Minimum amount to open an account: None
Free buffer zone: No
Direct debits and standing orders: Yes
Charge for unpaid direct debit: £37.50
Debit card (Solo or Electron): No
If any of the following apply to you, your application may be declined: Undischarge bankrupt, record of fraud, record of bad debts.

The Royal Bank of Scotland
Key Account

Minimum age to open an account: 18
Minimum amount to open an account: None
Free buffer zone: No
Direct debits and standing orders: Yes
Charge for unpaid direct debit: £38
Debit card (Solo or Electron): No
If any of the following apply to you, your application may be declined: Undischarge bankrupt, record of fraud.

Ulster Bank
Basic Bank Account

Minimum age to open an account: 16
Minimum amount to open an account: None
Free buffer zone: No
Direct debits and standing orders: Yes
Charge for unpaid direct debit: Under £20: £35.00; Over £20: £37.50
Debit card (Solo or Electron): No
If any of the following apply to you, your application may be declined: Undischarged bankrupt, record of fraud.

Yorkshire Bank
Readycash

Minimum age to open an account: 16
Minimum amount to open an account: None
Free buffer zone: No
Direct debits and standing orders: Yes
Charge for unpaid direct debit: £35
Debit card (Solo or Electron): No
If any of the following apply to you, your application may be declined: Undischargedbankrupt, record of fraud, record of bad debts.

Similar Threads:

**Giveitback** · 3rd July 2006 23:09

Lloyds

TSB 'When we are not able to pay cheques, direct debits or standing orders because there is not enough money in your account, we normally charge £35 for each item of £10 or more we have not paid."

**Karnevil** · 3rd July 2006 23:20

Nationwides online banking facility is very good - very easy to set up and manage bill payments.

**Darren** · 8th July 2006 09:45

Have just spoken to Natwest icon

, they do business accounts for bad credit too.

**MARTIN3030** · 10th July 2006 09:14

I was told by Natwest icon

that one of their criteria for giving a business account is at least 6 months bank statements showing good management ie no overdrawns/bounced cheques and of course a lot of activity.

**kia** · 13th July 2006 23:04

ta very much i thought wed have problems but theres loads

**MARTIN3030** · 14th July 2006 02:11

I am looking at it as I need one myself again.
The government is investigating offshore accounts which I was looking into.
so looking again.
We can deffo rule out the high street big boys.

If there is a deafult at your address then thats also a hiccup as they will look at that too

not easy at all..............especial ly as these days you will no doubt need a point of sale card reader.........and thats a really big hurdle as they really do some big checks :o

**Solowka** · 14th July 2006 23:30

whats a point of sale card reader?

**MARTIN3030** · 14th July 2006 23:46

Originally Posted by Solowka

whats a point of sale card reader?

oops sorry its retailers jargon speak.

its the machine/trminal that reads your credit/debit card.

In the old days they had a manual one where you rolled the top part over the lower part........these were great for fraudsters and dodgy traders.
There were a few Indian restaurants who used to do 2 sets for boozy customers and keep one for use if they didnt pay next time.........reason I know this is cause the owner of the 1 I use told me !!

Most business still have these for back up.........a word of warning....if ever you are asked for payment by anyone using one of these keep your eyes open at all times.Double swiping as it is known.......was a favourite trick for the less honest traders !!

**JonCris** · 15th July 2006 10:43

Originally Posted by MARTIN3030

oops sorry its retailers jargon speak.

its the machine/trminal that reads your credit/debit card.

In the old days they had a manual one where you rolled the top part over the lower part........these were great for fraudsters and dodgy traders.
There were a few Indian restaurants who used to do 2 sets for boozy customers and keep one for use if they didnt pay next time.........reason I know this is cause the owner of the 1 I use told me !!

Most business still have these for back up.........a word of warning....if ever you are asked for payment by anyone using one of these keep your eyes open at all times.Double swiping as it is known.......was a favourite trick for the less honest traders !!

Also NEVER EVER let lose sight of your card. When presented with your bill take it yourself to the cash point for card payment. Never do what many people do & let the waiter take your card to the cash point whilst you remain in deep conversation with your friends.

I even had one retailer attempt to take my card into the rear of their shop "cos that's where the reader is sir". I stopped them & demanded the return of my card. Left the shop empty handed but secure in the knowledge that I wasn't going to be ripped off by them

Forgot to mention if they drop down behind the counter, even for a moment, (they usually pretend to have dropped something) they are probaly putting your card through their own reader which will allow them to clone your card.

**kia** · 15th July 2006 19:53

remind me again what i was asking for i only needed an account for hubbys wages with debit card. youve totally baffled me with your comments

**barracad** · 15th July 2006 19:58

I have no idea why this has turned into a random discussion about POS equipment either, but if you are looking for a parachute account icon

for your hubby please see the first post in this thread.

**freebird** · 15th July 2006 21:45

Thanks for the list of banks, I need now to get down to the nitty gritty !
I'm bad ( no I'm not singing )
My credit's bad
My address is bad
I'm fighting off bailifs

has anyone managed to open an account, when all the odds are against you ?
If so where please.
I need to go on Monday to get my income support and carers allowance sorted, before the b......s take even more off me !
cheers Freebird x

**freebird** · 16th July 2006 09:25

if anyone's perusing the forums today, you advice would be appreciated, as I have to go open an account tomorrow so I can then instruct the DHSS to pay in my income support and carer's allowance/ plus my daughter's DLA in to new account.
Cheers, Freebird x

**MARTIN3030** · 16th July 2006 10:09

Originally Posted by freebird

if anyone's perusing the forums today, you advice would be appreciated, as I have to go open an account tomorrow so I can then instruct the DHSS to pay in my income support and carer's allowance/ plus my daughter's DLA in to new account.
Cheers, Freebird x

Have you not thought about a basic card account with the Post office?
Theirs was probably the first one that is specifically for benefit payments and people who unable to get a high street one.
You get a card you can use for withdrawing money.
maybe worth looking as its very quick to sort out.

**TJH** · 16th July 2006 18:22

Nationwide icon

- when I was having problems they were quite helpful and the account was ok and could be used online if I remember. It was their FlexAccount. I had more than a few defaults on my "normal" account at the time.

Hope that helps.

**ARCADIA** · 17th July 2006 17:25

Regarding parachute icon

accounts, are there any implications about upsetting a Credit Card company? Would it be difficult tio open a new credit card account?

**krakan** · 19th July 2006 17:42

Another question: How many years back do you need to provide addresses for most of these basic accounts?

**MARTIN3030** · 19th July 2006 19:16

In answer to your first question this would obviously depend on your current credit score and whether you chose a card issuer that was in any way connected to the bank etc that your claim is with.

As far as the second question goes.......If you have been at your present address for 5 years or more thats usually ok.
Basic accounts are less demanding for criteria but the ID and proof of address criteria is the same for all banks.
This was toughened up by the government in their fight against anti-terror and money laundering groups/individuals.

NATTIE · 19th July 2006 20:55

Martin3030- you're right. For NW a step account, you need proof of you(passport, Driving Licence) plus proof of address(utility bill) to open account

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