If you’ve been made bankrupt and you’re looking for a bank account, you’ve probably realised just how difficult it can be for people with a bad credit rating to get an account.

Most bank accounts are subject to eligibility criteria, as are things like credit cards and loans. So if you’ve had problems with debt in the past, you may have trouble getting a bank account, especially a current account with a High Street bank.

However, there are options available. Here’s a guide to some of the bank accounts available to people who have been made bankrupt. This site has more information on bank accounts for people with bankruptcy.

Bad credit bank account

In the majority of cases there won’t even be a credit check to open a bank account for bad credit – you’ll just have to prove your identity.

You might not get all the features you’d expect from a top current account, but you will have somewhere to keep your money, a convenient way of paying bills and usually a cashcard or debit card – all of which can make managing your finances a lot easier.

What’s more, using your bad credit bank account and managing your finances responsibly can help you to build up your credit rating over time, which should eventually make it easier to get other financial products like mortgages and loans.

Basic bank account

Basically the same thing as a bad credit bank account under a different name. Most banks offer basic bank accounts, but you may have to go into a branch and ask, as they are not usually advertised a great deal.

Managed bank account

With a managed bank account, your account provider will look after your budgeting for you, making managing your money much easier. When your earnings enter your account, your money will usually be automatically divided into money for bills and other essentials and another ‘pot’ (account) for spending-money. This should mean you’re much less likely to overspend or miss any important payments.