With a basic bank account, you can do most of the things you could with any bank account, except you won't get certain features like an overdraft or a credit card like you could with many 'standard' current accounts.
Having said all that, there are a number of advantages to opening a basic bank account - in many cases, the biggest one is that you won't be credit checked when you apply. That means that even if you have a loan default, a CCJ or even a history of bankruptcy, you should still be able to open a basic bank account.
You can find further help and information on basic bank accounts here if you'd like.
Here are some of the other benefits.
1. You can't overestimate the importance of having somewhere safe to keep your money. Social Finance estimates that there are 1.5 million people in the UK who don't have any kind of bank account - perhaps because they have been turned down for their bad credit. They could be accepted for a basic bank account and have somewhere safe to keep their money.
2. If you have had credit problems in the past, opening a basic bank account and managing your money well can be a stepping-stone to a more 'advanced' bank account in the future, as it can help you build up your credit rating.
3. Basic bank accounts let you make Direct Debit payments - so you can take advantage of Direct Debit discounts from energy suppliers. Any savings you can make on your fuel bill can go into a savings account for a rainy day.
4. Basic bank accounts don't have overdrafts - which can actually be a really big advantage. Having no overdraft means you cannot overspend on your account, which encourages you to stick to a budget and manage your money better. Also, without an overdraft, there won't be any overdraft charges taking valuable money out of your budget - although there might be other charges with your account.
5. You can open more than one basic bank account. You might like to do this to help with your budgeting - as you could use one account for your disposable income and another one for your bills. Or you could think about opening a joint basic bank account, so you and your partner can plan your budgeting together.
These are only a few of the advantages of opening a basic bank account. And remember that a basic account doesn't have to be as 'basic' as you might think - there are basic bank accounts that come with debit cards and other extra services, so shop around for the best one for your needs.