Bank and building society accounts and banking
With different types of bank accounts available offering different services it is
important to ensure that you have the one that best suits your needs.
Basic bank accounts
Basic bank accounts offer fewer services than a current account but may suit
people who are worried about becoming overdrawn. You are able to have
your wages, benefits, cheques or cash paid into the account and pay bills by
direct debit. You won’t be given a cheque book but some banks will give you
a debit card with which you can pay for items or use to get “cashback” as
long as there is enough money in your account.
Current accounts
Current accounts offer you more services than a basic bank account. These
include: direct debits for bill payments, debit cards, cheque books and an
overdraft to an agreed limit.
Savings accounts
There are a number of different types of savings accounts. These offer
different interest rates, different arrangements for how long you have to wait
to access your money and how much money you need in the account to
keep it open.
Deciding which account suits you
Firstly, think about what you are going to use the account for. Will it just be
where your wages or benefits are paid, or will you want to pay bills, write
cheques or perhaps save money? Ask your bank or building society’s advice
if you have an account but think that a different type or additional account
might be better for you.
If you don’t have an account and are thinking of opening one then shop
around. Talk to different banks about what you would like to use your
account for, they’ll be able to advise you on what services they offer.
If you’d like independent advice about different types of bank and building
society accounts then contact the Money Advice Service on telephone
0300 500 5000, www.moneyadviceservice.org.uk or the Citizen’s Advice
Bureau’s Your Money section in their online advice guide
www.adviceguide.org.uk.
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Opening an account
The bank or building society that you have chosen will help you to complete
your application to open an account. You may be able to do this in the
branch, online or over the phone. The application form should be available in
alternative formats.
Usually banks require new customers to provide two forms of identification
such as a passport and a recent bill showing the address. If you don’t have
this form of ID they should accept a letter from a responsible person who
knows you, this could be your GP, a teacher, a social worker or a probation
officer. If you don’t have a passport or driving licence explain this to the bank
and ask what alternative proof of identity they will accept.
Choosing how you bank
Whether you prefer to do your banking in a branch or from home using
internet or telephone banking your bank will be able to help you to choose
the option that suits you best. You can mix and match, visiting the branch for
advice but paying bills online and checking your balance over the phone.
Having said that, there are a small number of banks that just offer internet
and telephone banking, they don’t have branches that customers can visit.
Telephone banking
Don’t be put off of telephone banking by thinking that you need to be able to
key in your account number, sort code and password to use the service.
Banks and building societies will allow customers to bypass keying in
numbers to verify who they are by asking customers to answer basic security
questions when their call is answered by call centre staff.
If telephone banking appeals to you talk to your bank, they will explain the
service and set it up for you.
Internet banking
Again, concerns about how accessible internet banking is for blind and
partially sighted people may have prevented you from finding out more or
trying it. If you have a computer and use access software then there
shouldn’t be a problem. Bank and building society websites should be
accessible.
Banks and building societies have worked to make the online verification
process which ensures that you are the rightful account holder fully
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accessible for blind and partially sighted customers. Talk to your bank, they
will ensure that you either have a fully accessible way of accessing your
account details or they will give you equipment to enable you to provide the
required information to access your account.
Post Offices
Many bank and building society accounts can be accessed through your
local Post Office. Speak to your bank to find out what services you can
access in this way. If you have a chip and signature card rather than a chip
and pin card you may find it more difficult to access your account. Contact
your bank to find out what system they have in place to enable you to use the
Post Office to withdraw money from your account.
Switching banks
If you aren’t happy with the service that you are receiving from your bank or
building society you may be thinking of switching to another.
It is worth shopping around to see what else is on offer. It might be worth
starting with your current bank or building society. Have they introduced new
services or new accounts since you last talked to them about what you want
from a bank?
When weighing up different options think about the services that you
currently receive, those that are on offer from other banks and building
societies and some of the practical issues involved in changing the account.
Where to go for advice and more information
For more information on the issues to consider contact the Money Advice
Service on 0300 500 5000 or visit their website
www.moneyadviceservice.org.uk
Another good source of advice is the Citizen’s Advice Bureau. To find your
local branch contact the numbers below or visit the websites
listed:
England and Wales
www.adviceguide.org.uk
t: England: 08444 111 444, Wales: 08444 77 2020
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Scotland
www.cas.org.uk
t: 0131 550 1000
Northern Ireland
www.citizensadvice.co.uk
t: 028 9023 6522
Complaints
If things go wrong or you feel that you’ve not received the treatment or
service that you should have, it might be worth complaining to your bank or
building society through their formal complaints process. Details of how to
complain should be available in the branches or on their website, if you can’t
find it ask them to send you a copy.
Go through each stage of the complaints process. The bank or building
society must investigate your complaint and give you a clear answer within
eight weeks. They may send you:
 their initial reply. This gives you the chance to go back to the bank or
 building society if you aren’t satisfied with their answer
 their final reply. This is the bank or building society’s final answer
 a reply telling you that the eight weeks has passed and you now have the
right to go to the Financial Ombudsman Service (FOS).
If the bank or building society doesn’t respond to your complaint within eight
weeks or if you are not happy with their response then you can take your
complaint to the Financial Ombudsman Service.
For more advice or information contact the Citizen’s Advice Bureau.
This factsheet is one of a series:
 Bank and building society accounts and banking
 Debt
 Who do you buy your services from and how do you pay for them?
 Where to get independent financial advice
 Know your rights
 Financial products
 Current sources of financial information.
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RNIB has produced a booklet “Managing your money” which gives general
information about financial matters and details of where to find further advice.
For copies of the booklet or factsheets please contact the RNIB Helpline on
0303 123 9999.
© RNIB July 2012
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