If you’d like to get an innovative new banking account, there are numerous things you’ll want to learn:
Kinds of banking account
Right Here we inform you of the primary forms of bank-account, and exactly exactly what they can be used by you for.
You can make use of an account that is current allow you to handle your money day-to-day. This can include:
- Having to pay your bills
- Getting cash – such as for instance your income or advantages
- Maintaining monitoring of where your cash goes.
Some present records can additionally get you interest in the cash you have got when you look at the account, even though this will be not as much as many savings records.
With a current account, you’re getting a cheque guide that can be used to simply just take money away. You might additionally obtain a debit card that can be used in stores and money devices. The lender may allow you to have an access and overdraft to many other types of credit. You’ll be permitted to put up direct debits and standing requests.
Some banks enables you to cash a current account individual cheque or make use of your money card in the postoffice, cost-free. Pose a question to your post that is local office this can be done clear of your overall account.
Postoffice card reports
You really need to just make an application for a Post Office card account if you can’t get a bank or society account that is building.
You’ll just make use of a Post Office card account to have re payments of:
- Advantages – nevertheless the Department for Perform and Pensions (DWP) might will not spend Universal Credit as a postoffice card account
- State Pension
- Income tax credits