Sign Connecticut Banking Living Will Simple

Industry sign banking connecticut living will simple

hello and welcome to banking basics here on the banking advice channel today we're going to be talking about current accounts and what to consider when opening an account a current account is a transactional account found across the UK similar to a checking account in the u.s. current accounts give the holder the ability to make payments and withdraw and deposit money in most cases current accounts will offer interest rates on the funds that are held in the account these rates can vary from bank to bank and tend to fluctuate based on the Bank of England based interest rates current accounts have many features that can be utilized by the holder to aid in their banking needs for example you can make money transfers from one account to another including internationally you can manage your direct debits you can set up standing orders you can deposit and withdraw cash you can issue and deposit checks you can make payments via a debit card and you can borrow money via an overdraft facility current accounts historically were always issued with a checkbook to make payments however as time has gone on the checkbook has become more outdated in favor of the debit card the majority of current accounts will be free accounts that only give the holder access to the basic features mentioned previously however there are other types of accounts that can be offered by banks with premium accounts these will offer benefits not included on basic current accounts banks may often offer increased rates of interest holiday insurance mobile phone and breakdown cover and much more however with premium accounts there is often a monthly charge for these services with travel accounts these are harder to find but some banks may still offer these accounts that will allow you to use your card abroad without incurring any challenges this account is ideal if you want going to be on the move often student accounts are exactly what they say on the tin accounts for students tailored for the needs of someone attending college or university the main feature of these accounts is usually a charge free overdraft some banks will also offer offer benefits such as student discounts and rail cards the remember of things that need to be taken into consideration when opening a new current accounts depending on what you intend to use the account for most current accounts will be offered free of charge however there are accounts that will come with a monthly tariff be sure to check the full terms and conditions of the accounts in order to avoid any unexpected fees interest rates differ across the banking industry currently the Bank of England based interest rate is very low at just 0.25 percent meaning that most banks are not offering high rates of interest on current account balances there are some banks that may offer specialized accounts with higher rates of interest however most of these accounts tend to come with fees or other conditions it's important to check a banks reputation before agreeing to open an account with them be sure to check reviews of their customer service most banks should offer customers the option to talk to them directly in a brunch or over the phone with a customer service advisor many banks differ in their approaches to customers so be sure to do some research to find out which banks approach suits you best overdrafts have become a source of credit for many people allowing customers to go below their account balance if they find themselves short of money like with all forms of credit there are challenges if you are considering applying for an overdraft in your account application be sure to check the bank's overdraft charges policy to make sure that you can afford an overdraft before the account is opened most banks can have an account open quickly if you are a new customer to that bank they may ask you to provide photographic identification along with the application this can sometimes cause delays in the opening process if the ID is not suitable make sure you allow enough time for the account to be opened before you need to start making transactions thank you for watching I hope you found this introduction to current accounts useful there will be follow-up videos to go into more detail about topics like direct debits payment disputes complaints and much more so be sure to subscribe to be kept up to date with all the latest videos