How to choose the right bank account for your needs

Let’s talk about current accounts. Using a current account, you can do your everyday banking transactions. Direct deposits, cash withdrawals, standing orders, and Direct Debits are all part of this process.

Finding the best current accounts requires knowing what you need from your current account. It is also worthwhile to consider the different types of current account providers, and the various benefits they have to offer. Your local high street bank or building society may offer current accounts. If you have a current account with a bank that offers online or app-based banking, you can also do online banking.

What might be the features of different current accounts?


Overdraft: A current account overdraft allows you to borrow money. An overdraft is a result of spending more than you have on your current account. Until you pay it back, your account balance is negative.

Interest: A high-quality current account will pay you interest monthly or annually on your balance. However, you will only earn interest if your account has funds.

Rewards: Your current account may offer you rewards when you pay your bills or use your debit card. This is similar to cashback.

Packaged current accounts: Current accounts in the UK sometimes come with additional features. For example, insurance and breakdown cover may be included. Monthly or annual fees apply to these types of accounts.

Having a joint current account with your partner, housemate, or family member can also be a great way to share expenses and bills. A joint account can be opened with two or more people, and each of them gets a card.