A current account is an everyday type of banking facility which can be held at a building society or bank. An everyday current account, allows you to make and receive payments and handles all of your day-to-day banking transactions. You can also have the use of a cash card or debit card to withdraw cash from ATM machines all over the world.
A current account is used everyday, getting the best deal is essential and could save or make you money!
With so many banks & building societies to choose from considering a new bank account or even switching bank accounts can seem like a daunting task to even the savviest of customers. There a lot of things to consider when choosing, such as, do I need an overdraft facility, debit card, chequebook. Do I want to receive interest on my balance and how much is the interest, what are the charges and what are the charges if I go overdrawn. You also need to know the levels of service each type of account offer and if there is a monthly fee…
The first question you need to ask is what current account is right for me.
There are many things to consider but the most important by far is, whats right for me? Are you looking to earn interest or just have your income paid into your current account to pay your bills? Many current accounts charge a monthly fee, although there are some which charge no fees but instead have a minimum amount that must be paid into the account each month.
So you took the plunge and obtained a credit report from one of the three big credit referencing agencies, only to find out that your credit score is less than perfect.
It may seem as if there is no way you are going to get a current account after facing the reality that you have a poor credit rating, well quite simply there is hope and many banks are now offering basic current accounts for those with adverse credit histories. The banks that are offering these current accounts may or may not undertake a credit search when applying for one of these basic current accounts, however, in most cases it’s just a formality and will not affect the account opening. Granted you may not be entitled to
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