Do you know which bank account is the one for you?

There are many different high street bank, building society or credit union accounts to choose from. Below is a basic overview of the main types of accounts.

Top tips

  1. Don’t rush
  2. Get the right account for you
  3. Ask for advice

Basic Account

  • ATM cash card / debit card with some banks
  • Set up direct debits and standing orders
  • Online banking
  • Bank statements
  • No overdraft
  • Buffer Zone in some cases

Current Account

  • Debit card
  • Set up direct debits and standing orders
  • Online banking
  • Bank statements
  • Overdraft
  • Cheque book
  • Option to pay a monthly fee and receive additional benefits

Savings Account

  • Provides you with a higher rate of interest than most current accounts
  • Shop around for the highest APR (Annual Percentage Rate)