There are many different current accounts available to UK consumers and it pays to shop around and try and get your self the best current account deal.
The current account you choose could have a significant impact on your personal finances with many account having massive variations in the services and features available.
These types of account are used by the majority of the UK population and are called ‘current’ because they are generally used to take care of your everyday finances such ass accepting wages and benefits and paying bills.
A current account will generally:
- Give you somewhere to have your salary paid into
- Give you somewhere to have your benefits paid into
- Allow you to pay bills by direct debit
- Allow you to pay bills by standing orders
Standard features given with most current accounts will include: (Although these may vary according to your financial situation)
- Online banking
- Debit card (Visa, Switch or Mastercard)
- Credit card
- Overdraft facility
- Certain priviledges such as free travel insurance, free breakdown cover etc, etc
Current accounts with fees: Some current accounts offer advanced facilities in return for a monthly fee. Whilst we’ve all got used to free banking in the UK sometimes these accounts can offer considerable priviledges and benefits such as concierge services, free breakdown cover, free travel insurance and other bits and bobs. Of course, it’s up to you to decide whwether you need these features on your current account and whether the benefits outweigh the costs.
What to watch out for:
There has been a lot of press in the UK recently about bank fees and account charges and these issues remain on the minds of consumers today. When you’re looking for a current account you should ensure that you understand and accept the charges that may be applied to your account in certain situations such as:
- Unauthorised use of overdraft / going overdrawn
- Bounced / returned direct debits
Current acccounts are offered by most of the major banks and building societies including Natwest, RBS, Halifax, HSBC & more recently a new breed of current accounts like thinkbanking (www.thinkbanking.co.uk) which are available to people with adverse credit histories.
Current Accounts
Compare Current Accounts
There are many different current accounts available to UK consumers and it pays to shop around and try and get your self the best current account deal.
The current account you choose could have a significant impact on your personal finances with many account having massive variations in the services and features available.
These types of account are used by the majority of the UK population and are called ‘current’ because they are generally used to take care of your everyday finances such ass accepting wages and benefits and paying bills.
A current account will generally:
- Give you somewhere to have your salary paid into
- Give you somewhere to have your benefits paid into
- Allow you to pay bills by direct debit
- Allow you to pay bills by standing orders
Standard features given with most current accounts will include: (Although these may vary according to your financial situation)
- Online banking
- Debit card (Visa, Switch or Mastercard)
- Credit card
- Overdraft facility
- Certain priviledges such as free travel insurance, free breakdown cover etc, etc
Current accounts with fees:
Some current accounts offer advanced facilities in return for a monthly fee. Whilst we’ve all got used to free banking in the UK sometimes these accounts can offer considerable priviledges and benefits such as concierge services, free breakdown cover, free travel insurance and other bits and bobs. Of course, it’s up to you to decide whwether you need these features on your current account and whether the benefits outweigh the costs.
What to watch out for:
There has been a lot of press in the UK recently about bank fees and account charges and these issues remain on the minds of consumers today. When you’re looking for a current account you should ensure that you understand and accept the charges that may be applied to your account in certain situations such as:
- Unauthorised use of overdraft / going overdrawn
- Bounced / returned direct debits
Current acccounts are offered by most of the major banks and building societies including Natwest, RBS, Halifax, HSBC & more recently a new breed of current accounts like thinkbanking (www.thinkbanking.co.uk) which are available to people with adverse credit histories.