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

  1. Choose a bank with a branch near to home or work
  2. Make an appointment at the bank to discuss your needs
  3. 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