Hi TimeLord.

If the account has been running a while this (account closure) doesn't sound like a likely outcome but I guess the problem is that there cannot be any guarantees.

I'm not sure regarding the downgrade, but it's hard to envisage why a credit check would be needed if you already have an account and are not asking for credit (as the bank is taking on no further risk).

Some bank accounts and similar facilities worth taking a look at are at:

https://www.trust-deed.co.uk/bank-accounts.html (Updated link 2020).

We've long suggested people take a look at the Co-op Cashminder account. It's free, fully functional, and if you don't have a local branch you can use your local Post Office to pay in cheques etc.

The ClearCash prepaid card is quite interesting. It's quick and easy to get set up. It does pretty much everything that a bank account does with the exception that you cannot pay a cheque into the account.

The Thinkbanking account is also interesting and might be of particular value to anyone that is concerned about their ability to budget their way through a month (money can be split up automatically to protect the cash needed for essential bills).

Hi Timelord

Unfortunately there is still the element of the unknown. Ideally they allow this to operate as normal.

As mentioned above, the best advice would always to have a new account opened to keep on standby, just in case. From past experiences, accounts always seem to be frozen just after payday on a Friday at around 3pm giving to time to release the funds in the account.

Mark