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
- Don’t rush
- Get the right account for you
- 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)