What is a basic bank account? A simple account for everyday money
By SendPay Business · · 2 min read
- 1Name it and pick your colours
- 2Choose what it does
- 3Launch when you are ready
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.
Try it
Name your platform and watch it come to life
Type a name, tap a colour and pick what it does. The phone changes as you go.
Colour
What it does
Design and preview your whole platform free, then launch when you are ready.
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.
How it works
Money on its way- 1Pick who to pay and type the amount
- 2Tap send and it is on its way
- 3It lands in their account
Why sign up
Create your free SendPay account
It's all about creating your own financial platform with ease. Start with a free account today.
- 🪪A free business accountOpen it in about a minute with your business name, email, password and mobile. No card and no documents to start.
- 💳Get paid from day oneTake card payments, and share your own payment link and invoices so customers pay in a click.
- 🌐A free business websiteFree to build, free to publish and free to keep, with unlimited visits.
- 🚀Your own financial platformDesign and preview your whole platform free, then launch when you are ready.
SendPay Business is a technology company, not a bank. Accounts, cards and payments are powered by licensed partners.
Questions people ask
What is financial inclusion?
Everyone having access to useful, affordable financial services.
Financial inclusion →Read next
Spotted a mistake or something out of date? and we'll fix it. How our guides are made
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. Other companies named in this guide are reference points only and are not affiliated with SendPay Business.