Current accounts are offered with more beneficial features compared to basic accounts. These accounts are typically offered with a debit card and with some, payments are allowed without checking one’s account. Another beneficial feature is the check guarantee card, which serves as a guarantee and makes checks widely acceptable. Accountholders are also offered a check book, which allows them to make automatic bill payments. In addition, current accounts offer standing orders, which are set payments at regular intervals from one’s account. BACS is an added benefit, which allows accountholders to accept payments to their accounts.
Alternatively, the accountholder can make one-off payments to another account. Current accounts also come with an overdraft facility, and accountholders can make overdrafts to a certain amount. Charges apply if clients go overdrawn without having arranged to have an overdraft facility in advance. Finally, accountholders earn interest with some current accounts, but at a relatively low rate.
Current accounts are a secure and safe place to keep money. One advantage of having a current account is that accountholders do not have to carry cash every time they have to perform a transaction. Most banks feature online banking so that clients can check, manage, and keep track of their money. Telephone banking is another advantageous feature, with clients having access to a network of bank branches to perform transactions.
Those who want to have a current account may check with a number of financial institutions, including Abbey Bank, Smile, Britannia, Alliance & Leicester, the Woolwich Building Society, Lloyds, and others. What do financial establishments have on offer? Halifax, for instance, offers current accounts which are a great choice for persons who want to do their day-to-day banking. The account gives access to a 24/7 telephone service and online banking. Current accounts are also offered with easy-to-understand overdraft charges, a Visa debit card, and other standard features. Another financial institution that offers different current accounts is Lloyds TSB. The bank offers classic accounts as well as value added accounts, featured with mobile phone insurance, AA breakdown cover, worldwide travel insurance, ID aware, and more. Clients who opt for the bank’s Silver Account enjoy a variety of added benefits such as mobile phone insurance, European travel insurance, and more. Customers who choose to bank with Lloyds can move their account, transferring their standing orders and direct debits to the new account. Barclays also offers current accounts with a range of beneficial features, such as overdraft facility (interest-free), 24/7 legal advice helpline, extended warranty, and mobile phone insurance in the event of accidental damage, theft, and loss. Gadget insurance, identity support helpline, and contactless debit cards are additional beneficial features. Clients who choose to bank with Barclays also get cardholder protection, which covers them against theft of passport and theft or loss of cards.
Finally, clients of Barclays can choose from various mortgage deals, but this is subject to status and availability.
Useful Guide to Birmingham Midshires UK Bank with detailed information on Royal Bank of Scotland.