Compare Prepaid Bank Accounts for Bad Credit

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Joined: Apr 17, 2013
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Finding a regular bank account when you have a bad credit rating can be almost impossible, as banks are often unwilling to accept customers with a poor credit history. Prepaid bank accounts are ideal for people with bad credit, as most accounts do not require a credit check before acceptance. There are several prepaid bank accounts for bad credit, each with their own set of features and benefits.

Prepaid bank accounts are similar to regular bank accounts. Most prepaid bank accounts provide you with a Prepaid Card that can be used like a debit card, providing your account has sufficient funds to cover your purchases or cash withdrawals. Before using your prepaid account or Prepaid Card, you must top up your account with enough money to cover your transactions. Most prepaid account providers allow you to top up your account online, while some also provide other options for adding funds to your account. In addition, some prepaid accounts can be used to make Direct Debit payments and set up Standing Orders.

SecureTrust Bank

SecureTrust Bank offers a Prepaid Bank Account for all customers, regardless of their credit history. There are no credit checks with the Prepaid Bank Account, making it ideal for those with serious credit problems. The Prepaid Bank Account comes with a Prepaid Card, which you can use in much the same way as a debit card, providing you have sufficient funds in your account. You can also use your Prepaid Card to make withdrawals from ATM machines.

The SecureTrust Bank Prepaid Bank Account can be used to pay Direct Debits and Standing Orders. Unlike with many regular bank accounts, there will be no charges added to your account for returned payments. One of the most attractive features of the Prepaid Bank Account is that you can earn interest on the balance of your account. Interest rates are currently set at 0.5%. SecureTrust Bank provides a range of ways to mange your account, including online and by telephone. The Prepaid Bank Account costs £12.50 a month.


CardOneBanking offers a Guaranteed Acceptance Bank Account to all customers, with no credit checks performed before acceptance. The account costs £12.50 per month and provides you with a Prepaid Card. The Prepaid Card can be used like a debit card, as long as you have enough funds in your account to cover your purchases. You can also use your card to withdraw cash from ATM machines. However, you will not be able to use your Bank Account to pay Direct Debits or set up Standing Orders. CardOneBanking provides online and telephone account management facilities to help you keep track of your spending.


ClearCash offers an iCount Pay Monthly for people with bad credit. The iCount Pay Monthly costs £9.95 a month and comes with a Prepaid Card. The Prepaid Card can be used like a regular debit card, as long as you have adequate funds in your account. You can also use your Prepaid Card to withdraw cash from ATM machines. The iCount Pay Monthly can be used to pay Direct Debits and set up Standing Orders to pay your regular bills. ClearCash provides an online banking service to help you manage your account, but there is no telephone support available, so any correspondence with ClearCash will be online.


Cashplus offers a Cashplus Deluxe Account for a monthly fee of £9.95. In addition to giving you a basic bank account, the Cashplus Deluxe Account gives you the option of adding Creditbuilder to your account. Creditbuilder can be used to help improve your credit score. The Cashplus Deluxe Account comes with a Prepaid Card that you can use to withdraw cash and pay for your purchases, as long as your account has sufficient funds. You can also use your account to make Direct Debit payments and set up Standing Orders. Cashplus offers a range of account management options, including online and telephone banking.

If you have been refused a bank account because of a poor credit rating, one of the prepaid bank accounts for bad credit may be the right solution for you. Always check to make sure there are no extra fees and charges to pay for using the account.
About author: Sam Jones

 Sam Jones the author of this article recommends uSwitch comparison website when looking for bank accounts for bad credit.


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