Why Choose a Basic Bank Account?

a person handing over a debit card to a basic bank account

Money can be a source of constant worry. Do you ever have enough of it? Do you stand to lose most of it? It comes and it goes, and unfortunately many people are beset by multiple money concerns despite all of their efforts to improve things. Sometimes, things can seem hopeless in this situation. However, basic bank accounts can do a lot to ease many financing fears. They can ensure that you have a prosperous financial future ahead of you, protecting your money in ways few other bank accounts can. Here are some great reasons to choose a basic bank account.

It’s Basic
Of course, where better to start than with the obvious? The clue is in the name, and the fact that basic bank accounts are so simple should be a big draw for many people. Most just want an easy life that’s simple and straightforward, and basic bank accounts go a long way in providing this. You use them for paying bills and striking up direct debits, without many trip ups or catches along the way. In the end, simplicity is key, and the basic bank account (mostly) manages itself.

Bad Credit, Get Out
Bad credit hampers a lot of people’s financial futures. It can prevent people from taking out loans and getting the kind of help they so desperately need. However, many basic bank accounts can be secured despite bad credit scores and can also help rebuild a suffering credit rating. Therefore, basic bank accounts can be a real lifeline in this regard and can help you turn things around when you’re backed into a corner.

Controlled Spending
Of course, many individuals wind up with bad credit due to poor spending habits. Well, the basic bank account can keep you in check here too. It sets aside the money needed for bills and puts the rest on your direct debit card, meaning that you’ll have a hard time trying to wrack up overwhelming debts with the big wigs. If you’re the kind of person who tends to pay their bills late, the basic bank account can whip you into shape!

Budgeting Tips 
If for example you were to open a basic bank account with Think Money, you’d then have access to their team of UK based money managers who will go to great lengths to help you budget effectively. If you have a spending problem, acknowledge it, put your pride aside, and get some expert help from this resource. They can answer any and all questions and concerns about your account and provide you with workable solutions.

On Your Side
By now, you should be able to spot a common through line in all the previous points; most of the figures behind the basic bank account simply want to be helpful. A lot of their services are extremely generous, and always have your best interests at heart. There’s no hidden charges or nasty surprises; often just a modest monthly fee to get the ball rolling. Ultimately, you’re not only in good hands, but caring hands too!

Fewer Cards
It’s a minor quibble, but frankly, having a wallet that’s full of various debit and credit cards can be a nuisance. After all, the more cards you have, the more things you could have to be misplaced, lost or be stolen. Basic bank accounts can remove this headache by streamlining your expenditure into one single debit card, meaning you don’t have to keep tabs on multiple cards day in, day out!

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