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Bank Account FAQs Answered

The banking world can be a very confusing and overwhelming one if you don’t actually work in the financial industry.  Therefore, it is understandable for banking customers to have questions about how everything works and in particular, their bank accounts.

The following are a few of the most commonly asked questions about consumer bank accounts, along with the answers…

1. What do I need to provide to open a bank account?

Most banks will require you to prove your identity and address with supporting documents, such as a passport and a recent household bill, for example.

2. Is it possible to open a bank account online?

Nearly all banks these days encourage customers to sign up for bank accounts online.  You can fill in the initial application form online, but the bank may ask you to complete other steps by post or in person later on.

3. Can I open a bank account if I have a bad credit history?

A bank will usually carry out a credit check on all new applicants, but you should be able to open at least a basic current account even if you have a bad credit history.

4. What is the difference between a basic bank account and a current account?

A basic account is one where you can keep your money for everyday use.  You get a cash card and you can get your wages paid into your account.  Current accounts are similar but they have many more features, such as a debit card, cheque book and an overdraft facility.