Find out how to take control of your finances with an alternative way of banking.
With so many different high street bank accounts to choose from, taking control of your finances can be an over-complicated and tricky process.
With more than three million current account holders* in the UK refused access to bank accounts from high street banks, it’s no wonder that an increasing amount of customers are seeking alternative banking options.
Here at icount we’re dedicated to making our current account with prepaid Mastercard® application process as straightforward as possible. We believe that everyone should have access to a bank account, no matter what their circumstances.
Budgeting – How to plug spending leaks with a prepaid card
If you find yourself saying “I just don’t know where all of my money goes each month!” then it’s worth taking a small step back to review your statement, to help you get back on track.
On the surface, this could appear to be a reactive approach to budgeting (as the money has already been spent), however, it may highlight areas where ‘little spends’ have been overlooked. With the icount current account, you’ll only spend exactly what you load onto the card, which makes it a brilliant way to manage your money and day-to-day spending.
Not only can you see what’s leaving your account, you’ll also be reminded of any upcoming payments (leaving plenty of time to reload your card account).
Bad Credit – An alternative way to bank if you’ve been refused current accounts in the past
You are not alone. Our research indicates that rejected bank account applications are common, with over three million people reporting refusal.
We have worked hard to make our application process as seamless as possible, but there are some documents needed to help us identify you in the event that we are unable to electronically verify you whilst applying.
Please ensure you have the following documents available so that we can ensure we can keep our viable alternative to a high street bank as secure as possible.
TWO certified copies from the ‘ID’ column shown below, or
ONE certified document from the ‘ID’ column and ONE document from either the ‘Financial statements’ or ‘Other’ column.
|A. ID – certified copy (NOT Originals):||B. Financial statements – original:||C. Other – original:|
|UK Driver’s Licence, Provisional or Full (both card and paper parts)||Bank or building society statement||Utility bill|
|EU Driver’s Licence||Credit card/store card statement||Council tax bill|
|Passport||Inland Revenue/HMRC Correspondence (i.e. confirmation of tax code or NI number)||Council rent card or mortgage statement|
|EEA member state ID card||Tenancy agreement from a council or housing association|
|Home insurance certificate|
Rebuilding Credit – How responsible borrowing can help to improve your credit rating and stay in control
One of the added free features of the icount current account is the Creditbuilder™ option.
This service is not commonly included as standard with other banks and it is a facility that is proven to work.
Creditbuilder™ reports to credit reference agencies with evidence of your good repayment habits. From paying utility bills on time, to regular salary deposits, all of this helps to boost and could improve your credit rating.
Ultimately, this could help with future borrowing such as mortgages and other lines of credit needed in everyday life.
Remember: A better credit rating could mean better deals on credit in the future.
i-draft – a viable alternative to a bank account overdraft with access to credit if you need it
Unlike other high street banks, with icount, the i-draft facility does not come as standard.
It is similar to an ‘arranged overdraft facility’ which means we’ll set up an agreement together to ensure the cash is there when you need it. Whether it’s an unexpected car repair, or utility bill payment, the i-draft facility can help to manage these costs.
If you like the sound of the i-draft facility, but you’re not an icount current account customer yet – find out more here.