Unfortunately this basic bank account is no longer available.
The Yorkshire Building Society offers an easy access savings account that operates more like a basic personal bank account. It is available to UK resident individuals and comes with the choice of either a passbook or ATM cash card. Even though it is only a savings account it does allow standing orders and direct debits and also allows regular inward payments such as a salary.
It must be opened with at least £100. Once opened, however, the balance can be reduced to zero.
What Yorkshire Building Society offers:
- An easy access savings account that can be used like a basic personal bank account for those resident in the UK.
- Choice of either passbook or cash card. The cash card can be used at any LINK ATM in the UK.
- Withdraw up to £250 in cash per day from any LINK ATM (if there are sufficient funds available in the account).
- Open at a branch or by post. There are branches (and agencies) in most parts of England, Scotland and Wales.
- Access account through a branch, agency, an ATM (if the cash card option is chosen) or online.
- Pay in cash and cheques at branches and agencies.
- Withdraw up to £1000 in cash per day from a branch or £500 per day from an agency of the society.
- Withdraw funds using a counter cheque from branches and society agencies.
- Bad credit is not an issue.
- Standing Orders and Direct Debits can be set up by those who opt for the cash card option.
- Online banking.
- The account is free to operate and has no charges or fees when run responsibly.
- No cheque book is provided and no overdraft is available.
- Must be opened with a minimum balance of £100 (which can be reduced to zero once opened).
- No paper statements.
- No debit card.
- A ‘return fee’ is payable should the payment of a Direct Debit or Standing Order be presented without sufficient funds.
Proof of ID and address is required. The account is available to UK resident individuals only (no businesses) and the applicant must be over 16.
Interest is paid on the account but it is at a very low rate.
Some of the fees for this Yorkshire Building Society easy access savings/basic account include:
Returned Standing Order fee £20.
Unpaid Direct Debit fee £20.
CHAPS payment £23.50.
Foreign money transfer of funds in Sterling £30.
Returned cheque No charge.