Online Newsletter

Stay ahead of the game with our free e-newsletter which contains details of our best buys and the week’s biggest financial stories. Sign up by entering your email address below.

Advertisement:

 

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

| More

Overdraft Accounts

CompanyAccountAuthorised EARUnauthorised EAR
Norwich & Peterborough BSGold Current (£1500 per month)
Offset/pooled facility available. Funding of £1.5K required.
11.74%24.9%
Santander
Preferred Overdraft Rate A/c
Funding of £1K pm required. 0% for 12 months on transferred accounts.
12.9%28.7%
CitibankCitibank Access
13.9%29.8%
The Co-operative BankCurrent
15.9%15.9%
SmileCurrent
Offset/pooled facility available.
15.9%15.9%
Yorkshire BankCurrent Account Plus
18.85%29.99%
Disclaimer:
All rates subject to change without notice. Please check all rates and terms before investing or borrowing.
 
Oinky the Pig!

Overdraft Accounts Explained

Many current accounts offer overdraft facilities.

If you have arranged for an overdraft facility on your bank account, you will be charged what is called an authorised overdraft rate. You agree an amount up to which you can go overdrawn and will be charged the authorised rate if you remain within this authorised limit.

If you have not arranged an overdraft facility or have exceeded your authorised limit, you will be charged interest at the unauthorised overdraft rate. This rate can be much higher than the authorised rate. You may also be charged a fee for being overdrawn.
 

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.