Good simple basic bank account but with some restrictions.
4
I wanted a basic bank account with debit card facilities to use in conjunction with my main bank account to pay bills and use the debit card online.
After searching The Bank of Scotland Cash Account seemed to fit the bill. The account opening was easy and running the account is simple to do with full access to online banking. The account comes with a Visa debit card which can be used in shops and online and you can set up direct debits and standing orders.
There are some restrictions with the account such as the fact that there is no overdraft facility and it doesn't come with a cheque book but I think this is expected with a basic bank account. Although you get a proper Visa debit card the account doesn't yet come with a contactless card.
Overall this is a good bank account for anyone looking for a no frills basic bank account to help them keep in control of their finances.
Reviewed on: 26th August 2015
I have held a cash ISA with Virgin Money for a couple of years now and I like the fact that it is such a simple and fuss free account to use. I chose a cashbook account as I like the fact that I have to physically go into the branch to take money out of my account but they also have an account which can be managed online.
The process of opening the account was simple and straightforward. Interest rates on the account are variable but they offer a competitive rate compared to the other banks and building societies that I have looked at. The interest on the account is paid yearly and as the account is an easy access account there are no penalties for making withdrawals so your money isn't tied up and still available to you if you should need it.
Reviewed on: 26th August 2015
