Want to open a Bank Account in 5 Minutes?

This article will tell you how......

Can I have a cornet and a 99 please mate

Have you grown tired of bank branches closing down? Or visiting your bank for something and they then try and sell you other things? Maybe you're fed up of waiting in queues or booking appointments.

Well, there are alternatives to the traditional banks these days and they can take away the hassle and chore of dealing with the traditional dinosaur banks we have had to endure for a long time

The Alternatives

The alternatives to the staid banks we know and (love/hate) are digital, mobile-only banks. These are fully licensed and regulated banks, with the full products and services that you expect from a bank but they offer efficiency, speed and in many cases they charge less than traditional banks. These digital bank pioneers are redefining the banking indutry by connecting with a new generation of customers who are comfortable with a mobile environment.

Digital banks

I list three well know digital banks, but there are many others.

STARLING
Offer a 3 minute application.
Download the App
Immediate notifications when money enters or leaves the account.
Categorise spending and see spending habits
Joint accounts available
Debit Card
No account fees
Faster payments and DD and standing orders can be set up
Overdrafts available
Members of the Financial Services Compensation Scheme (deposits of protected £85,000)

www.starlingbank.com

MONZO
Quick application.
Download the App
Immediate notifications when money enters or leaves the account.
Categorise spending and see spending habits
Joint accounts available
24/7 Customer Support
No account fees
Faster payments and DD and standing orders can be set up
Financial Services Compensation Scheme (deposits protected up to £85,000)
Fully authorised in the UK by the Prudential Regulation Authority and regulated by the FCA

www.monzo.com

TANDEM 
Quick application.
Download the App
Immediate notifications when money enters or leaves the account.
Categorise spending and see spending habits and upcoming bills
Better deals finders 
24/7 Customer Support
Credit card with cash back 
Fixed Saver account available  
Fully authorised in the UK by the Prudential Regulation Authority and regulated by the FCA

www.tandem.co.uk

I also want to give a mention to Coconut, which is a bank app which is geared towards freelancers and self employed people (Ltd Company Accounts coming soon). This is going
to assist in calculating tax and allows for uploading of receipts. If integrated with accounts software, this will provide a usual tool when Making Tax Digital comes in to play. I will be following developments here closely and will report back.

I am a current customer or have been a customer of.....Lloyds, Barclays, TSB, HSBC and Starling and I have nothing but praise for the way Starling functions in comparison to it's older more established rivals. I certainly would recommend a look at the new digital banks if you are not satisfied with your current banking arrangements.

Contacts

Email: support@blackcountrysolutions.com
Phone: +1 (0) 1902 283058

Address

Black Country Solutions Ltd
The Workspace                    
All Saints Road, Wolverhampton
WV2 1EL

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