Current Accounts

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Current Accounts
A current account is perfect for regular use, keep in mind the payments and spending behaviour of  current accounts does effect future credit scoring. There are many providers of current accounts who are typically high street brands, banks and building societies. Each provider offers different types of current accounts. The key things to consider when choosing a current account are:

• Is it free if I am in credit?
• What is my interest rate (AER)?
• Will I be charged interest for an authorised overdraft?
• Will I be charged a fee for using an overdraft?
• Do they offer internet or telephone banking?

Current accounts usually provide cash/debit cards, which is a great way to pay for your shopping on the high street/online. Other uses of a current account include receiving you wages from your employer, your benefits or pension and paying bill regularly through direct debits and standing orders.