A current account is the most crucial account designed for people who need to make transactions whenever they want; this type of account enables you to conduct all your day-to-day banking transactions that you need.
To understand more about a current account, you will need to know some of its common features:
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You can pay in money whenever you want and set up standing orders and direct debits to cover any monthly expenses such as your mortgage, rent, tax etc
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It allows you to make a bank overdraft if you don’t have enough funds to cater for your expenses but you have to consult your bank first
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A current account allows two people to set up a joint current account together if they want to
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Generally, a current account comes with a debit card
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With a current account, you usually get a cheque book so that you can make payments by cheque when a debit card can’t be used
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It caters for online and telephone banking
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Most current accounts are associated with additional perks such as:
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Travel insurance
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Breakdown cover
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Apart from these attractive features, current accounts has very few current accounts good interest rates; you have to move your money if you want to earn high rates. Many current accounts have high overdraft fees.