United Kingdom How To
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Understand the various bank accounts available in the United Kingdom...
Below is a summary of the different accounts offered in the United Kingdom and the benefits of each type of account:
- Standard Current Accounts: Customers receive a cheque-book, cash and debit cards, overdraft facilities, monthly or quarterly bank statements. Internet access and telephone banking facilities are often available. For a monthly fee, some current accounts can provide extras such as roadside assistance or medical support
- Simple Cash Accounts: Customers do not get a cheque-book, Internet or overdraft facilities
- Savings Accounts: Note that interest on savings is taxed
- Accounts for High Earners: Tailor made options and personal banking support
- Children's Accounts
- Student Accounts: Similar to standard current accounts, students may benefit from interest free overdrafts
- Graduate Accounts: Graduates can benefit from lower mortgage rates and cheaper overdraft facilities
- Foreign Currency Accounts
- Euro Accounts
- Special Accounts: These cater for certain religious beliefs
The Banking Guide provides comprehensive information on the different types of bank accounts. It also offers readers a questionnaire to help select what kind of account they need.
- For more information on choosing a bank in the UK: Click here