To help you find the right current account, we’ve put together this brief overview:

Basic Bank Accounts

These are straightforward accounts without many additional extras. Typically these are aimed at customers with no credit history or those who are new to banking. They will generally enable you access to services such as receiving money, getting a cash card and using cash machines, setting up direct debits and standing orders, as well as others. Basic bank accounts won’t usually allow you to go overdrawn by more than £10, if at all.

Current Accounts

Current accounts normally provide more options and services than the Basic bank account, such as overdraft facilities, telephone and internet banking, and some may also pay interest on your credit balances. A credit check may be necessary before overdraft is made available, and you should be aware of any limits and excess fees or interest rates on an overdraft.

Student Accounts

Most student accounts have an interest free overdraft facility, free banking and an advisory service to help young people manage their finances effectively. They often offer an incentive such as cash or free rail travel to attract their young customers. Students should manage these accounts carefully, as interest and fees could still apply to their overdraft if they exceed they’re borrowing limits.

Graduate Accounts

After completing your studies, these accounts offer a free/low interest overdraft facility and other benefits to help you manage your money as a new graduate. Graduate accounts are normally available up to 3 years after graduation.