Eligible for a current account?

By THIS IS MONEY
Updated:

 

CURRENTLY I have unpaid debts as well as a bad credit rating. I only have a building society account which means no chequebook or debit card. Is there a bank that will allow me to open a current account that provides both? EH, Wakefield

Brian Capon, head of media relations at the British Bankers' Association replies:

It is very much down to the individual bank as to whether it will open an account for you. If your credit problems are in the dim and distant past and there is a good explanation for them - the credit reference agencies usually allow 100 words for this purpose next to your credit score - then your chances will be higher.

At first though, it is likely you will only qualify for a basic bank account rather than a current account. This means you will not be issued with a chequebook and any card linked to the account will only be effective in withdrawing money from an ATM. Although you can usually organise Standing Orders and Direct Debits to leave basic bank accounts, they do not come with overdraft facilities.

But once you have proved to the bank that you can run a basic account successfully, it is likely the bank will then transfer you to a fully-fledged current account.

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