Banking and Saving
Bank accounts can help you manage your money on a daily basis. A bank account is the best way to keep money safe from loss or theft; it is much safer than keeping your money in your purse or wallet, or at home.
There are many different types of bank account but a basic bank account is probably the best option if you haven't dealt with a bank before or you have a poor credit rating.
The benefits of a bank account are:
- Safe place to keep your money
- You can have wages, pensions, benefits or tax credits, etc, paid in directly
- You can pay in cheques
- You can pay bills for Direct Debits
- You can take money out of cash machines
How to open a basic bank account
- Choose a bank with a branch near to home or work
- Make an appointment at the bank to discuss your needs
- Take along identification; passport or driving licence is best, or a letter from a Government Department or local Council confirming your entitlement to benefits. Letters should be less than 3 months old