This comparison includes all current accounts that offer guaranteed acceptance.
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Ffrees Family Account
Monthly Charge
£0
Account Facilities
Standing Orders & £0.75 ATM withdrawals
Card Type
Prepaid Debit Card
Guaranteed Account
yes
Have your wages, pension or benefits paid in for free. Includes 'cashback' style rewards, with retailers both online & in-store. See T&Cs.
No monthly fee, however, £2 a month If you do not use your Ffrees Account for two consecutive months.
Cashplus Cashplus Deluxe Account
Monthly Charge
£9.95
Account Facilities
Direct Debits, Standing Orders & Free ATM withdrawals
Card Type
Prepaid Card
Guaranteed Account
yes
100% instant approval. No hidden or penalty charges. Add Creditbuilder to improve your credit rating
Representative Example: If you use an arranged overdraft of £100 you'll be charged £0.50 per day, capped at £10 per month plus an annual usage fee of £20 per year.
eccount money Current Account
Monthly Charge
£12.50
Account Facilities
Standing Orders & £0.50 ATM withdrawals
Card Type
Prepaid Debit Card
Guaranteed Account
yes
Guaranteed Acceptance Current Account – Alternative bank account with cash-back rewards, VISA Prepaid Card and free mobile app.
Secure Trust Bank Prepaid Bank Account
0121 6676455
Monthly Charge
£12.50
Account Facilities
Direct Debits, Standing Orders & £0.50 ATM withdrawals
Card Type
Prepaid Card
Guaranteed Account
yes
No credit checks, No Hidden fees or charges, No charges for bounced Direct Debits or Standing Orders, earn up to 4% cash rewards.
CardOneBanking Guaranteed Acceptance Bank Account
Monthly Charge
£12.50
Account Facilities
Standing Orders & £1.50 ATM withdrawals
Card Type
Prepaid Card
Guaranteed Account
yes
Basic Bank Account with No Credit Checks, Guaranteed Acceptance, No hidden charges or penalty fees.
ClearCash iCount Pay Monthly
Monthly Charge
£9.95
Account Facilities
Direct Debits, Standing Orders & £0.50 ATM withdrawals
Card Type
Prepaid Card
Guaranteed Account
yes
Barclays Cash Card Account
Monthly Charge
£0
Account Facilities
Direct Debits, Standing Orders & Free ATM withdrawals
Card Type
Debit Card
Guaranteed Account
yes

money.co.uk, Dot Zinc Limited, 160 Fleet Street, London. EC4A 2DQ. We are a Credit Broker for all consumer credit products promoted on money.co.uk.

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How a Guaranteed Bank Account Can Help You Manage Your Money

With a guaranteed account you can get a bank card to use for your everyday shopping - without worrying about debt or rejection. Here's how...

If you've had trouble opening a current account at a major bank, it's understandable that you may be worried and unsure who you can turn to.

A guaranteed acceptance account could be the solution you're searching for, because your credit history plays no part in deciding whether you're accepted or not.

In fact, the best guaranteed bank account companies promise to make them available to anyone (as long as you have ID, are at least 18 and a UK resident).

How do guaranteed accounts work?

Unlike most normal debit or credit cards, with which you can spend a lot of money (even if you don't have it...), most guaranteed accounts only give you access to a prepaid card.

This means that you have to put money onto it in order to spend it, so in essence you are only able to spend money that you have available in the first place.

You can put money on the card using wages or benefits and add it by setting up a standing order, visiting any Post Office branch or informing your employer that you want your wages paid straight to the account.

You should make a guaranteed current account comparison to see which company offers the best account for you.

Can you get a debit card with a guaranteed account?

It is possible with a few accounts to get a cash card or debit card that you can use for many everyday tasks, like withdrawing money from an ATM, setting up debit or standing order payments and making cash transfer to other accounts.

While these cash cards provide an alternative if you still want to have an account with a bank and have found it tricky to get an ordinary account, you must check what charges apply and be aware that you won't be able to get an overdraft.

Take charges into account

When you compare guaranteed bank accounts you'll soon see that most of them charge a monthly fee for using the service. This is because these accounts are seen as being more risky for companies to provide and are generally offered to less profitable customers.

It's more costly for the company to offer pre-paid accounts with low turnovers, especially as there's no way they can make money through interest rates - that's why they put charges in place for supplying the account.

When you take out a prepaid card you need to make sure you set some aside each month to pay this charge and that you can afford to pay it off.

Some account providers will also charge you to withdraw money using an ATM, so if you don't want to pay a fee each time it's probably a good idea to rule out any companies that apply one.

Why you should get a guaranteed account

If you're in a tight spot and have been rejected for an account with a bank, for whatever reason, when you apply for a guaranteed account you know it's highly likely you'll be accepted.

Furthermore, opening one of these accounts can help build up and restore your credit rating, meaning there's more chance you'll be accepted for a standard current account in future.

With these accounts you should also be able to budget more effectively, as you'll know how much is loaded onto the card and therefore how much is available for you to spend.

Some companies take this further and set up two accounts for you; one to deal with bill payments, the other for you to use as spending money. This means you won't get caught short as your money is allocated accordingly. This can be especially helpful if you aren't the best at budgeting.

There's little chance of getting into debt, as companies tend not to offer guaranteed bank accounts with overdrafts, so you can't go overdrawn by spending too much cash.

Relationships with high-street banks

Companies that offer guaranteed accounts often have agreements with leading UK banks, which means customers can use a bank's branch to deposit cash or cheques and also withdraw money.

If you would prefer to have this kind of day-to-day banking service, you should check if the guaranteed account provider you want to go with offers this option or works with any high-street banks.

If you use the card efficiently, budget well and build up your credit rating over time, you stand a better chance of success when you approach banks in the future.

How to find the best guaranteed business account

Guaranteed accounts can be used for business purposes, as well as just personal spending.

You can get a quick decision on whether your company is eligible by applying online, and don't have to go through the rigmarole associated with banks and credit checks.

Companies that offer these claim that you can do everything you would with a normal business bank account - like process transfers, pay in cash and manage expenses - but at a cheaper rate.

If this appeals to you and seems like a good option for your company, you should compare guaranteed business bank accounts to see what's available.

For more information about current accounts, and how you can get the best one for you, check our guide Top 9 tips for choosing a current account.

Featured guide

9 tips for choosing a current account

There are lots of things to consider when you choose an account for your everyday banking. We share our top 9 tips for finding the perfect current account for your needs.

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