Bankruptcy is a social and financial status that is a legally binding situation. There was once social stigma to being bankrupt but as being unable to repay your debts is now much more socially acceptable due to the world wide recession. However it still has an impact on your life especially if you need a bank account. Non Status Bank Account- The Features Unlike the traditional basic bank accounts for bankrupts offered by some high street banks which comes with very basic bank facilities, there are some basic bank accounts, suitable for bankrupts, which comes with all the facilities normally associated with regular high street bank accounts. These basic bank accounts can come with the following features: The non status bank account holders are issued with a MasterCard. The account holders can use this MasterCard in all the ATMs and shops where the MasterCard sign is displayed. Pay in online or at any of the RBS branches throughout the UK Direct Debit and Standing Orders †easy to set-up and control Internet banking for the ease of monetary transactions. The bankrupt bank account holders will also be allotted personal money managers, who will give personalized help for managing the money in the account. Free SMS updates of the balance in the accounts available. A personal sort code is allotted to the account holder and a bank account number for the account. Eligibility Criteria for Applying for Non Status Bank Account Any applicant should be a minimum of 18 years of age for opening the account. he/she should have a valid address proof and a valid proof of identity. No credit history check are performed while opening the account, hence bankrupts can now easily open the non status bank accounts. You can contact the respective financial institutes for account online. They will help with any further questions or to set-up your bank account.
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