What is a basic bank account? A simple account for everyday money
By SendPay Business · · 2 min read
A basic bank account is a simple account that lets you get paid, pay bills and use a debit card, without an overdraft. In the UK, the largest banks have to offer fee-free basic accounts to people who don't qualify for a standard current account, for example because of a poor credit history.
What you usually get
- An account to receive wages and benefits.
- A debit card for shopping and cash withdrawals.
- Direct debits and standing orders to pay bills.
- No overdraft, so you can't go into debt by accident.
Who it's for
People with a poor or thin credit history, people new to the country and anyone who wants a simple account without the risk of overdraft charges.
What to look for
Check the ID the provider accepts, whether there are any fees, how you can pay in cash and whether you can later switch to a standard account.
Where SendPay fits
SendPay lets you launch your own money app under your brand, with GBP, EUR and USD accounts, transfers, branded Visa cards, payment links, invoices and subscriptions, powered by licensed partners. SendPay isn't a bank and doesn't offer overdrafts or lending.
Build it
Create your own financial platform.
Pick a template, name it, brand it, preview every page before you pay. Your brand, your users, your fees.
Build my platform →Questions people ask
What is financial inclusion?
Everyone having access to useful, affordable financial services.
Financial inclusion →Read next
This guide is general information, not legal or financial advice. SendPay Business is a technology company, not a bank, and does not take deposits; regulated services on the platforms are provided by licensed partners. PayPal, Patreon and Substack are named as reference points only and are not affiliated with SendPay Business.