Countess Karlotta Libenstein of Germany left German Shepherd Gunther III £68 million. This was since invested and Gunther IV is now believed to a fortune of £240 million.
Source: Riches Pets!
A basic bank account offers users easy access to money but without all the features of a current account, such as an overdraft, cheque book, and full branch service. Read more...>
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Basic bank accounts are designed for individuals who don’t need access to the enhanced features associated with a current account, or do not require the interest that could be accrued when the account is in credit. Basic bank account holders will find that they are unable to go in branch to make withdrawals or speak to advisers.
The features of a basic bank account will differ depending on the provider but account holders should expect to be able to deposit and withdraw money at cashpoints, have your salary or wages paid directly into the account at a minimum. Some additional features of basic bank accounts can include the ability to arrange standing orders and direct debits; have access to a debit card, telephone and internet banking, and Post Office access.
Anyone is free to open up a basic bank account but due to the nature of a basic bank account, they are often preferred by people who have bad credit or have been made bankrupt in the past.
More often than not current accounts or reward accounts require applicants to have a fair or good credit score due to the credit facilities that are usually on offer.
A bank account for bad credit or bank account after bankruptcy is often needed to help those get their finances back on track. It offers a place to keep money, get wages paid and offers the ability to pay bills and transfer money. These are basic features that many of us take for granted, but without access to a basic bank account lots of people would be stuck without them
• Arrange for salary or pension to be paid straight into the account
• Create standing orders, direct debits and single payments transfers for bills or into other accounts
• Online shopping with debit card
• Free ATM cash withdrawals
• Post Office access
• Online bank account management
• Avoid getting into debt as no credit facilities
• Provides opportunity for those with poor credit history to manage their finances
• Lack of overdraft facility means that basic bank accounts holders will have no emergency funds
• Basic bank accounts often have monthly management fees ranging from £5-£15
• Bank will not make payments when there is insufficient funds in the account for a direct debit
• No interest can be earned on the balance even when the account is in credit
• Account holders will not have access to a chequebook, and may not have access to a debit card.
It is important to remember that whilst the features of basic bank accounts are not that great, they are better than nothing at all, and can provide an excellent platform to get people with poor credit history off the ground again.
Manage your basic bank account well and ensure that you have your salary paid directly into the account in an attempt to prove to the bank that you are capable of managing an account. This could benefit you in the future when you try and upgrade to a current account.
If you are the sort of person that finds it easy to over-spend with a debit card, opt for an account that only provides a cash card. This way you will avoid spending too much on the plastic when you hit the shops.