 |
Current Accounts have always been a popular option when it comes to personal finance, and today there are a huge number of different accounts available for you to choose from. To begin with, it's important to know why current accounts can be useful: quick and easy to negotiate, they're best for day to day banking, allowing you to make numerous transactions as long as you have funds to draw from. They provide you with easy access to your money, and in most cases offer you various ways to do so: on the phone, at a cash-point (ATM), over the internet, or in your local branch. Most banks also offer special accounts for different customers: student current accounts generally have a large, interest free overdraft as a main feature, whilst accounts for younger people (under 18 in most cases) will offer a debit card for easier buying in shops and online. If you're interested in doing your bit for the environment, many banks also offer current accounts that can be managed entirely online, getting rid of the need for paper statements.
When you're working out which account is right for you, it's best to first sort out how you think you'll be using it. If you're looking for a straightforward account that allows you to access your money in a variety of different ways, there are many out there to choose from. NatWest's Current Plus account lets you manage your account by telephone and online as well as in a branch, top up your mobile at NatWest cash machines, and provides you with a Maestro debit card. Some accounts, such as Alliance and Leicester's Premier Direct Current Account, also have higher credit interest rates, so that any of your money that isn't being moved around is earning some interest.
Searching for student current accounts is slightly different, as the main features to consider will probably be the interest-free overdraft limit and any useful extras that are included in the account. Halifax currently offer the largest interest-free overdraft limit, allowing you to withdraw up to £2750 before you are charged, but be aware that this probably means that the charges will be greater if you do exceed your overdraft limit. Banks will also generally provide some kind of incentive to students to get them to choose their account - whether it's the 25% off UK gig tickets offered by RBS current accounts, or the discounted rates on insurance for your home, car or personal possessions offered by NatWest, remember that in the end it's the day to day parts of the account that will really affect you.
Ultimately, amongst the many current accounts that are available today you will be able to find something that suits your needs - just remember to do your research and find the account that is appropriate for you, rather than settling for the first thing you see. A current account from the likes of Alliance and Leicester or another reputable high street bank will generally offer the best deal for the consumer, so as much as you might want to resist the big financiers, they really do provide the safest and most profitable ways to look after your money.
Rates quoted are correct at the time of writing (10.04.08) and may be changed at the discretion of the product provider.
|
|
