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How to Pick the Best Current Account for You

Source: Imgspark

I have just read this interesting article on about picking the best current account. Current accounts form the backbone of our financial lives, but we very often do not take much notice of them. However, making sure you have the right account for your situation can make your financial life a whole lot easier:

Your choice of account will depend on whether you want to do your banking in branch or online, need a lower interest rate overdraft, or some bundled in extras that may deliver insurance or personal service.

The variety of accounts and services on offer, and our differing needs, makes it worthwhile regularly re-evaluating your current account and considering switching to a better deal.

Switching bank accounts

Switching your current account is simple nowadays. Most banks and building societies will offer a switching service that does all the work for you. All you need to do is supply the information and identification they need and the process should run smoothly.

Your direct debits and standing orders will all move over and the bank will send you a list to check to make sure nothing is missing. In many cases, current account providers will offer to reimburse you fully if anything goes wrong.

It is a wise move to regularly see whether you can get a better current account. A quick check of what is on offer – perhaps once a year – means your finances will run as smoothly as possible. Despite the fact that switching has never been easier, many people still stay with their old account and pass up the benefits a new one can offer.

The things to consider when deciding which current account to pick are the services you require:-

Do you bank online, or in branch? Are you normally in credit, or do you often dip into an overdraft each month?

Do you find yourself going beyond an authorised overdraft and incurring charges? Are you looking for some added extras, such as free insurance or reward payments?

It is also important when considering a premium account – those which offer extra services for a price, whether or not you will use the services as well as balancing the cost against buying them seperately.
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