Current Account Of A Bank Or Building Society From Which Money May Be Withdrawn Without Notice

Current Account Of A Bank Or Building Society From Which Money May Be Withdrawn Without Notice

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Current Account:
‘An account with a bank or building society from which money may be withdrawn without notice, #

Standard Current Account:
Standard Current accounts are offered by all banks and building societies, such as Halifax, Barclays, Santander, Natwest and Lloyds, as well as some non bank businesses, such as Marks and Spencers, Sainsburys, Co-operative and the Post Office. Standard Current Accounts have debut cards and allow customers to withdraw cash. In the past, cheque books would have also been used however these are now becoming less popular. The bank send customers bank statements either monthly or quarterly showing all debits and credits on the account over the set period of time. Current Accounts also have overdraft facilities which allow customers to borrow money and pay the bank back when they next get paid however customers get charged for using this service. The amount they get charged varies depending on the bank they are using. Most banks allow current account customers to use an online facility to manage their money and also a telephone service. Online, customers can see their debits and credits in real time so they do not have to wait until their next statement; they can also transfer money online and apply for extras on their account.

Current Accounts With Extras/ Premium Accounts:
Current accounts with extras are accounts which offer customers extra incentives on top of their regular current account. They are focused at high earners with significant amounts of money in savings or investments due to the personalised banking service which is provided. These accounts often come with a monthly fee but the offers available determine whether the cost is worth paying. Some examples of these extras include trav...


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... current accounts are for students who are coming to the United Kingdom to study. They offer a free foreign cheque deposit in a set period of time but have a monthly fee. There is no overdraft and customers receive a debit card for transactions. Customers have the opportunity to manage their finances through mobile, online and telephone facilities.

Foreign Currency/ Euro Account:
Foreign currency accounts are for people who need frequent and regular transactions in a currency other than the British sterling. It allows people to make and receive payments with ease across countries. The account usually has no minimum balance and has electronic transfers. Euro accounts work identically to foreign currency accounts but are used for the Euro and not any other currency.


Main Information Source:
http://www.banking-guide.org.uk/current-account.html

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