What if my credit rating is bad?
A bad credit rating can mean you have managed money badly in the past, or it might just mean that you have not had your own account or credit before. We understand everyone has reasons for financial histories.
This doesn’t stop you from taking out an Arro Personal Account – as long as we can verify your identity and address, you’re over 18 and you live at a UK address, we can normally approve you for a account.
Your Arro Personal Account can actually help you in managing your money using our straightforward responsive dashboard, so even in an account with no overdraft or credit card could help improve your credit rating by showing possible future lenders that you know how to budget and prioritise regular bills and payments.
The Arro personal card
No credit means
no credit checks
Get an account number and sort code straight away
No paperwork, no appointments
Make payments with contactless Mastercard®
Set up standing orders and direct debits (coming soon)
Shop online and in store
Without a bank account I was paying more for everything
“I needed an alternative to a High-Street Bank account and Arro made everything really easy. Not only did I get instant access to my account once it was set up, but the costs were straightforward and there were no hidden fees, so I knew exactly what I was getting.”
Will you access my credit record?
We don’t reply on credit records so your application will not show up in your credit history. Instead, when you tell us your name, date of birth and UK address, we check those against our directly integrated databases just to verify your ID, and if needed we can check forms of identification from over 195 countries as well as use street level verification for security.
Managing your money
The Arro Personal Account gives you everything you need to manage your money and potentially build your credit rating.
Your personal account supports:
- Having your salary/wages paid directly into your Arro Personal Account.
- Receiving money from family and friends using your sort code and account number.
- Transferring money to other people via the Faster Payments Service.
- Paying for bills and other regular spending via Direct Debit (not currently available, but it’s coming soon!).
- Checking your balance and managing your money on your online dashboard.
- Buying things online with your MasterCard® Debit Card details.
- Paying by contactless card in-store and/or withdrawing cash from an ATM.