Guaranteed bank accounts
A guaranteed bank account is one that you can apply for and are guaranteed to be accepted even as a bankrupt. In recent years the market for these products has expanded, largely owing to the credit crunch and the alternative benefits that they offer over current accounts.
The two main guaranteed bank accounts are:
- APS Cash Plus (click for more info)
- No credit checks
- Guaranteed acceptance
- Online banking
- Free purchase protection
- Credit rebuilder
- Prepaid Mastercard
- Card One Banking (click for more info)
- no credit checks
- guaranteed acceptance
- one to one account manager
- secure internet banking
- no hidden bank charges, no overdraft fees can be incurred
- pre-paid Mastercard
For more information visit the APS Cash Plus website.
For more information visit the card one banking website.
Although there is a small fee to pay for these products they have become increasingly popular for people who cannot get a current account. This includes people who are undischarged from bankruptcy or are currently in an IVA.