Advantages everything you need to function normally in a financially dependant society
For a debt riddled society and banking systems that have been quite happy to fuel such a situation I can honestly say that the Co-op basic bank account is definitely one for those who would like to be in complete control of their money i.e those who do not want to or can not live on bank credit.Most people are accepted including bankrupts
POSITIVESNo annual charges (the account is free), Visa electron card shop online & instore as well as withdraw cash at atms, pay money in via post, post office, at branches, set up direct debits & pay bills online, internet banking, great customer service, wages & benefits can be paid straight into account. Easy to apply online/phone/writing & quick set up time.
BEWAREplease note banking is free however if you do set up a direct debit for instance and the bank refuses to pay it due to insufficient funds you will be charged about £18 if this sort of thing happens approx. 3 times then the account will be closed so you do need to ensure that you always have enough funds to cover any outgoings.
OVERVIEWThis is a super little account and in todays society where pretty much everyone requires a bank account of sorts you could do a lot worse. If you need an account and you have a fairly bad credit history or even if you are a bankrupt then I would recommend applying for the co op basic account asap but do ensure that you run it properly otherwise the chances of getting another one are very slim and for a lot of people a bank account is a must and a necessary service just to get by day-day.
|Efficiency of service|
|Competitiveness of charges/rates|
|Promptness of service||Excellent|
|Online - Content/organization of site||Excellent|
|Online - Reliability/speed of site||Good|
|Online - Ease of applying for products||Excellent|
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