Most of the bank froze the accounts when they learn about the holder’s bankruptcy. In such situation people face lots of problems in managing their finances. But now, banks have become some liberal and offering the bank account with some basic features that helps them to receive money, pay standing orders and have direct debit. Bank accounts for bankrupt people are specially meant to offer the required help to the people facing bad credit issues.
Bank accounts for bankrupt people can help in opening bank accounts and get the various services and benefits mentioned below:
• No credit check is the main feature of this account. This feature helps every individual to open the bank account without any restriction. • Additional services like internet and telephone banking are also offered by the banks.• Some banks also offer the facility of MasterCard that can be used for shopping and cash withdrawal.• No unauthorized fee is charged on late payments and overdrafts• Personal money manager assist in maintaining the account and taking the decision of the financial matters.• Very small amount of fee is charged as opening bank account and monthly fee
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