How to open a bank account: 3 easy steps for ‘SWOFTIES’ to get a bank account

A study by the Department for Work and Pensions highlighted that single women suddenly have to deal with financial matters and paperwork that their partners took care of 19 per cent of ‘SWOFTIES’ (single women over fifty) have never open a bank account. .

while they were married or in a relationship. This could last up to four decades!

Opening a bank account is the first step in taking control of your personal finances, and while it’s not difficult, there are a few things to keep in mind.

1. To open a bank account, you will need to complete an application. Usually this can be as little as one pound. Some banks may also want to check your credit history.

2. You will be asked to prove who you are. This is necessary for banks to protect themselves against money laundering whereby criminals attempt to open accounts, often under false names or using stolen identities, with money obtained or earmarked for illegal activities. By law, banks must check to make sure they know their customer before allowing them to open an account. You can prove your identity by presenting your passport, driver’s license or a letter from a government department or local authority confirming your entitlement to state benefits.

3. Show where you live. Bring with you a utility bill that is less than three months old confirming your address.

Once your account is open, you can start managing your money right away. Follow these simple steps and you’ll have a bank account up and running in no time. Remember, there’s plenty of help to get your personal finances in shape once you’ve done it.

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