Key Facts

 

Banking Guides

 

Current Account Glossary
Current account terms explained

Who Owns Who? – Banks and Savings
The following list covers the main UK banks, and, importantly, banking and savings brands.

Bank Account Key Factors
Bank accounts generally are designed to do the same job, but depending on how you’ll run your account, you will be looking for different things in terms of what your account offers.

Banking Tips

 

Simple Ways to Save Money in the Home
Now we are in a recession and feeling the effects of ‘non-flation’, it is important to save money where you can. As a nation we use far more energy than is necessary and this hits us in the pocket when our energy bills arrive.

Save Nearly Five Hundred Pounds a Month
Save nearly five hundred pounds in just one month and look after your health in five steps, according to health experts at Bupa

Banking Best Buys

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Basic Bank Accounts
CompanyAccountS/O and D/DDebit SystemCredit Interest on £1
Alliance & Leicester
Basic Cash AccountD/Ds--
Click here to Apply for this Product
Bank of ScotlandEasycashS/Os and D/DsElectron-
Barclays BankCash 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--
Click here to Apply for this Product
Lloyds TSBCash AccountS/Os and D/Ds--
Nationwide BSCash CardS/Os and D/Ds--
NatWestStepS/Os and D/DsSolo0.10%
NatWestStep - Advantage BlueS/Os and D/DsSolo0.10%
Northern Bank (NI)Northern Personal AccessS/Os and D/Ds--
Norwich & Peterborough BSGold CurrentS/Os and D/Ds--
Royal Bank of ScotlandKeyS/Os and D/DsSolo0.10%
Royal Bank of ScotlandCash AccountSolo0.10%
Santander
Basic AccountS/Os and D/Ds--
Click here to Apply for this Product
The Co-operative Bank
CashminderS/Os and D/DsVisa-
Click here to Apply for this Product
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.
 
 

Related Products

 

Savings SearchSavings Search
Use our Savings Search facility to compare all savings accounts available to you.

Credit CardsCredit Cards
Use our Credit Card Best Buys to compare the best credit cards available to you.

LoansLoans
Use our Personal Loans Best Buys to compare the best personal loans available to you.

Debt SectionDebt Section
Visit our Debt Solutions section if you would like some help in managing your finances.