A bank account for DAS
DAS could help you if you're struggling to pay for the things you need because of your unsecured debt payments. On a Debt Payment Programme under DAS, you could lower your repayments to an amount you can afford. It does leave you in debt for longer, but it's debt you can afford on a monthly basis.
It can be harder to open a bank account while you're on DAS, because it affects your credit record. Banks usually credit check applicants when they apply, and if they can see that you are making lower repayments to your lenders, they might not let you open a bank account with an overdraft.
Basic bank account
A basic bank account is often available without a credit check. These bank accounts don't have overdrafts, which can actually be a good thing while you're repaying debt, as it removes some of the temptation to spend beyond your means.
Basic bank accounts may or may not come with a debit card. They're available from the high street banks, but there are also alternative providers who specialise in this kind of banking.
For instance, thinkbanking provides access to a basic bank account with extra features for people who would like help to manage their money.
thinkbanking bank account
This basic bank account could be helpful for people on DAS who need to manage their money more carefully than they may have before. Under DAS, you need to manage your budget well, because most of your 'spare' cash is going to go on your unsecured debt repayments.
The financial management help that comes with this account is provided by specially trained Money Managers. They can help you to make sure that enough money is set aside every month to cover your essential bills - such as your regular DAS payment.
This basic bank account can work for people who want some extra help to keep track of where their money is going every month, which is particularly important during any kind of debt repayment programme.
Apply for your thinkmoney Personal Account now
Answer a few simple questions to apply for your thinkmoney Personal Account today.Your privacy is important to us. All correspondence is held in strictest confidence and we will never pass your details on to any company outside of the Think Money Group.
- Account features
- Online banking
- No hidden bank charges
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- What are the pros and cons of a Debt Arrangement Scheme?
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