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Key Facts

 

Banking Guides

 

Current and Packaged Accounts
What type of Current Account user are you? Are you one of those lucky people that manages to maintain a credit balance on your bank account every month?

Current & Bank Accounts with Overdraft Facility
An authorised overdraft is a pre-agreed facility that allows you to go overdrawn (or borrow) up to a certain limit, normally at a set rate of interest (some also charge a monthly fee).

The Basic Bank Account
It’s quite natural to worry about overspending, particularly if you have got yourself into debt before. There is a bank account where you can make sure you don’t go into debt: the Basic Bank Account.

Banking Tips

 

Are some banks foreign to you?
Have you ever checked our best buy charts and not recognised the names of some of the banks listed?

How to save money at University
Top money saving tips from Moneyfacts.co.uk to help you manage your money at University

Banking Best Buys

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Basic Bank Accounts

CompanyAccountS/O and D/DDebit SystemCredit Interest on £1
Bank of ScotlandEasycashS/Os and D/DsElectron-
Barclays Bank
Cash CardS/Os and D/Ds--
Clydesdale BankReadycashS/Os and D/DsMaestro-
Coventry BSBranchSaveMoneyManagerS/Os and D/DsVisa-
Coventry BSCallSaveMoneyManagerS/Os and D/DsVisa0.15%
First Trust Bank (NI)Basic Bank AccountD/Ds--
HalifaxEasycashS/Os and D/DsElectron-
HSBC
Basic Bank AccountS/Os and D/Ds--
Lloyds TSBCash AccountS/Os and D/Ds--
Nationwide BS
Cash CardS/Os and D/DsVisa-
NatWestStepS/Os and D/DsVisa0.10%
NatWestStep - Advantage BlueS/Os and D/DsVisa0.10%
Northern Bank (NI)Northern Personal AccessS/Os and D/Ds--
Norwich & Peterborough BSBasic BankingS/Os and D/DsVisa-
Royal Bank of ScotlandKeyS/Os and D/DsVisa0.10%
Royal Bank of ScotlandCash AccountVisa0.10%
Santander
Basic AccountS/Os and D/Ds--
Secure Trust BankPrepaid Bank AccountS/Os and D/DsMasterCard-
The Co-operative BankCashminderS/Os and D/DsVisa-
Turkish Bank (UK)Starter Account--
Ulster BankStep AccountS/Os and D/DsVisa-
Yorkshire BankReadycashS/Os and D/DsMaestro-
Disclaimer:
All rates subject to change without notice. Please check all rates and terms before investing or borrowing.
 
Oinky the Pig!

Basic Bank Accounts Explained

Basic bank accounts were set up through a government scheme to help less well off families and for those who have problems opening a normal bank account. The scheme is aimed at giving everyone access to banking facilities.

Basic bank accounts allow you to pay in your wages, benefits, tax credits and state pension. They give you a cash card to withdraw your money and some offer standing orders and direct debits. Unlike normal bank accounts, they do not give you a cheque book or overdraft facility.

Basic bank accounts also appeal to people who are worried about overspending, as they do not allow you to go overdrawn. You can only spend the balance of your account; however, you still need to keep an eye on your funds to cover any standing orders or direct debits. If there is not enough money in your account to pay these, they will be rejected and you will be charged.
 

Bank Account News

Current accounts…when staying faithful doesn’t payCurrent accounts…when staying faithful doesn’t pay
On average, Britons keep their current account provider for 16.5 years, longer than the average of 14.1 years that they remain with their partners, according to research from Santander Current Accounts.

Time to join the online banking revolution?Time to join the online banking revolution?
Banks spend millions of pounds to ensure their sites are as safe as possible, with encryption devices and firewalls galore. Even so, you should ensure that your computer has up-to-date security software before you begin banking online.

Join the switching current account revolutionJoin the switching current account revolution
Metro Bank might have recently become the first new bank to grace our high street in one hundred years, but is there any substance behind their swaggering entrance?

RBS delivers half year profitsRBS delivers half year profits
The 84% publicly owned Royal Bank of Scotland (RBS) announced an operating profit of £1.6 billion over the first half of 2010, an improvement on the £3.4 billion operating loss in 2009.