Current Accounts
Compare current accounts to find the one that suits your needs
A current account is used by customers in order to allow them to distribute their money with ease to the necessary recipients. Current accounts allow a great deal of flexibility, with the facility to arrange payment via the following…
- debit card
- cheque
- standing order
- direct debit
Current accounts usually allow borrowing via an overdraft facility. This allows you to withdraw more money from the account than is actually in balance. As this essentially means that the account provider is lending to their customer, a pre-agreed interest rate is charged on top of the amount owed. The provider also sets an overdraft limit when the account is opened, which can be negotiated later on if the size of the overdraft no longer suffices.
Access to the bank account is usually gained through any of the following channels:
- Branch – The physical location where customers can access their account, as well as carry out a variety of financial transactions and receive financial advice.
- Cash Machines – These are found in convenient locations and are used for withdrawing cash and checking the balance of the account. They are totally electronic and do not require a human teller.
- Internet Banking – Online banking is very convenient, especially as it can be done outside of branch opening hours. It uses the bank’s secure website in order to view balances and statements and perform transactions. There are various other facilities depending on which bank you have an account with.
- Telephone Banking – Banking services are also available over the telephone. As with internet banking, the call centres’ opening hours are considerably longer than those of the branches, with many banks offering a 24 hour telephone service.
