£5 for Being Broke: The Bank Accounts Exploiting the Desperate

In this episode we rank the four worst bank accounts in the UK — accounts marketed at people who think a high street bank won't take them, then quietly charged for almost everything. We break down CardOneMoney, Monese, Pockit and Suits Me, from £1.49 just to receive your wages to a £5 fee that only fires when your account is empty. Then we get to the part almost nobody knows: everything these accounts charge for, you're legally entitled to for free.Why "no monthly fee" is doing a lot of heavy lifting — and which accounts cost more the less money you haveThe £5 penalty for a bounced direct debit, the 4% foreign spending fee, and the £1-a-month charge for doing nothingWho these accounts are really aimed at, and why the fee structure targets people at their most desperateThe fee-free basic bank account nine major UK banks must offer you by law — even with bad credit or no proof of addressHow to open one (and what to do if you've already been refused)Join the new Banking Without Borders Discord community https://link.bankingwithoutborders.co.uk/discordSubscribe on YouTubehttps://link.technicallymoney.com/oy8eCheck out our website DepositScout.com for the latest savings rates. Connect with us (via LinkedIn)Jan: https://www.linkedin.com/in/jan-watermann/Jonny: http://www.linkedin.com/in/jonny-peaseGot a question or topic you want us to cover? Drop us a message at [email protected]