Lloyds Bank (formerly Lloyds TSB Bank plc) (which is part of Lloyds Banking Group and includes HBOS (Halifax Bank of Scotland)) offers a basic personal UK bank account that provides a Visa debit card and most of the facilities available in their Classic current account.
It is designed for those who want a simple account or who may have a bad credit history and may not qualify for their Classic Account.
It is for individuals who are 18 and over and proof of ID and address is required.
You can’t apply for this account directly. You must apply for one of their other current accounts initially and if you don’t meet their criteria then you may be offered the basic account.
What Lloyds Bank offers:
- A basic personal account for those resident in the UK or from EU countries outside the UK.
- Most adverse credit accepted.
- Over 1000 branches in the UK plus free account access at Post Offices.
- Visa debit card.
- Direct Debits and Standing Orders.
- Internet and PhoneBank (their telephone banking service).
- Mobile and branch banking.
- Deposit cash and cheques over the counter at any Lloyds Bank branch or UK Post Office free of charge.
- Withdraw up to £500 per day cash (subject to funds) from Lloyds Bank Cashpoint machines and £300 per day from Post Office branches free of charge. Balance enquiries are also available from Post Office branches.
- Monthly online and optional paper statements.
- No buffer zone of £10 any longer but since 2017, as far as I can see, there are no longer any charges should you accidentally go into the red because of a failed payment such as a direct debit, although the situation is not made clear regarding the basic account.
- The account has no charges when run properly.
- No overdrafts (planned or unplanned) are available. However, there are now no charges (since 2017) should you accidentally go overdrawn, as far as I can make out.
- No CIFAS fraud flags are allowed.
- No undischarged bankrupts.
- No longer accepting customers with an IVA.
- Withdrawing cash other than at a Lloyds Bank Cashpoint machine or branch may incur a fee.
- No cheque book.
No interest is paid on the account.
Some of the fees for this Lloyds Bank basic account include:
Non-sterling purchases and cash withdrawals abroad incur a fee of zero to £1.50 plus 2.99% of the transaction value.
Special cheque presentation (express cleared) £10.
Banker’s draft or cheque in Sterling £20.
CHAPS payment £30.
Returned cheque Free.
Click on button below to go to Lloyds Bank Basic Current Account page.