What sort of account is it?
It is a current account providing similar services to that of a basic account that is often available from a number of the major banks and building societies as well as some other financial institutions.
Who can apply to open the account?
The account is available to UK residents who are at least 18 years of age. It is suitable for those who are, for instance, employed, self-employed, retired or unemployed. As no credit check is undertaken, people that have a poor credit history, perhaps due to being an undischarged bankrupt, having CCJs or an IVA, are accepted.
How to apply?
The online application process is quick and simple with very little information being required. For instance, you will be asked for your name, address, date of birth and contact details and then a decision may be made within seconds.
Wherever possible, they will try to prove your identification and address by electronic means. If this is not possible then they may require some additional information to verify these things such as a photocopy of your passport photo page to prove your identity and a utility bill to confirm your address.
What does the current account provide?
You can automatically have your salary, wages, benefits or pension paid into the account. Cash can be paid in through a Post Office counter or wherever a PayPoint is located. Cheques can be posted directly to eccount money in Chester.
The eccount is where you will keep sufficient monies to cover your regular household expenditure with any monies remaining being available to transfer to your prepaid VISA card.
The prepaid VISA card can be used to withdraw cash at ATMs that display the VISA symbol around the world. It can also be used in shops or online to buy goods and services. You top up the card by transferring funds from your eccount to it.
You can pay your regular household bills such as your mortgage repayments, council tax, electricity and car insurance by standing order or direct debit (fees apply if paying by the later).
Online, automated telephone and mobile banking are available 24/7 enabling you to easily manage your account. There is a UK based call centre available so that you can speak with someone if required.
You can earn Cashback rewards when you use your eccount prepaid VISA card at certain participating stores.
You cannot apply for an overdraft facility nor do you get a cheque book.
How much does the account cost?
To open the account it costs a one-off fee of £12.50.
There is a monthly administration fee of £12.50.
There are other fees such as £0.50 for each withdrawal from a UK ATM. Please refer to their website for a full list of other fees.
The Tuxedo eccount is a fee paying current account that is ideally suited to those people that have got into financial difficulty as no credit check is made on you when you apply online to open the account. It is one of several bad credit bank accounts that are available in the UK from a number of companies. It provides a range of banking services that you should find useful.