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Bank Accounts Latest News Consumers 'should select the current account that is right for them'
Bank Accounts Latest News Consumers 'should select the current account that is right for them' Consumers 'should select the current account that is right for them'
Britons looking to compare accounts may be interested in guidance offered by one writer.
Those searching for current accounts should ensure they opt for one which matches their spending needs.Such is the advice of lovemoney.com writer Mark Adams, who notes that while "it's never been easier to switch current accounts", Britons comparing the UK accounts on offer should do carefully.
This is particularly the case when it comes to selecting an account with comes with a competitive overdraft.
People on the hunt for such a product may be interested in his commendation of the Alliance & Leicester Premier Direct current account which offers a 0% overdraft for the first 12 months on balances of up to £2,000.
However, upon entering the second year of such a deal consumers are reminded it will revert to a 50p per day charging structure.
Earlier this month, the bank ran a promotion where those switching to the Alliance & Leicester Premier Current Account would receive a £100 cash bonus.
By Emma North
Wednesday, 23 December 2009 00:00
Top 5 Current Accounts
|
Provider |
Min Bal |
O/D Rate |
O/D Buffer |
Apply |
|
|---|---|---|---|---|---|
| View Full Table > | |||||
 |
|||||
|
0%
|
£1
|
No Offer
|
£100
|
||
 |
|||||
|
0.50%
|
£1
|
0%
for life
|
£200
|
||
 |
|||||
|
5%
|
£1
|
0%
for 12 mths
|
£5,000
|
||
 |
|||||
|
0%
|
£1
|
0%
N/A
|
No Offer
|
||
 |
|||||
|
0%
|
£1
|
No Offer
N/A
|
£100
|
||
Natwest Select
- Free day-to-day banking without subscription charges
- Overdraft available subject to eligibility, giving your finances some breathing space
- Chequebook available subject to eligibility; handy when cash or cards aren't convenient
- Monthly statements with all your transactions and your balance - by post or online. Or pick up a mini-statement from our cash machines
The Co-operative Current Account Plus
- ***You must deposit at least £800 per month***
- Interest on all balances tracks at 0.5% below the Bank of England Base Rate, guaranteed for the life of your Current Account.
- UK call centres open 24/7, 365 days a year
- Fee-free £200 overdraft facility
- Dedicated switching service
Santander Preferred Current Account
- Get up to £300 FREE if you are an existing Santander mortgage customer, who has or can deposit at least £10,000 in Santander savings and switch their main current account to Santander.
- Earn 5% AER on balances up to £2,500 for 12 months
- After 12 months you will earn 1.0% AER on any balance on the account
- 0% EAR on Overdrafts for the first 12 months (up to £5,000 depending on your circumstances), after this it will revert to 19.9%EAR
- Manage your day-to-day money for free with no monthly account fee, no transaction charges and no charges for using account facilities - as long as you remain in credit
- Get a cheque book and a Visa Debit card. You can use your Visa Debit card in shops wherever you see the Visa symbol and at virtually every cash machine in the UK and many worldwide. It also acts as a £100 cheque guarantee card
- Access to your money 24 hours a day 7 days a week through our e-banking service, 750+ branches, 24-hour telephone banking service, LINK cash machine network or even by post
- At least £1,000 a month must be credited to get 5% AER on balances up to £2,500
- If not switching earn 5% AER on balances up to £1,000 for 12 months if £1,000 is credited each month
Barclays Bank Account
- A carbon neutral debit card (subject to status).
- Online Banking – do your banking from home (subject to registration).
- Telephone Banking – pay bills and more (subject to registration).
- A network of over 1,700 branches.
- Draw on cheques paid in before they clear (subject to status and limit).
- An overdraft: 19.3% interest per annum (variable).
- Representative Example: Up to £5,000 19.3% interest p.a. (variable)
- Subject to status and application. So the amount offered may be different to that shown on the example. Overdrafts are repayable on demand.
- Barclays £2,500 Personal Reserve Option:
- - One Reserve Usage Fee of £22 for each five consecutive working day period from the day you start using your Reserve.
- - No interest payments on your Reserve balance.
- - Representative Example: 0% interest per annum (variable). Reserve Limit £2,500. One reserve usage fee of £22 for each five consecutive working day period from the day you start using your reserve. Personal reserve is subject to status and application and repayable on demand.
- - The Reserve is repayable on demand. The maximum Reserve is £2500, subject to status.
- - One Returned Transaction Fee of £8 for each returned transaction where you exceed your Reserve.
- - One Guaranteed Transaction Fee of £8 for each guaranteed payment made where you exceed your Reserve.
RBS Select
- Free everyday banking - no monthly subscription charges.
- No arrangement or renewal fees - on overdrafts up to £15,000. And pay no interest on agreed overdrafts of up to £100.
- Save on your mortgage - use your Interest Paying Current Account balance to save money with our Offset Service.
- Easy access to your money - your debit card gives you access to almost every cash machine in the UK. You can also pay for goods and services wherever you see the logo shown on your card.
- Online banking - manage your money 24 hours a day, 365 days a year with our telephone and internet banking services. (Except for short periods of essential maintenance.)
- Overseas money - get money in local currency at cash machines and buy goods wherever you see the logo shown on your card.
- Statements - monthly statements list all transactions and your current balance. You can also get mini-statements from any cash machine.
Natwest Advantage Gold
- Pay £12.50 per month and get the following benefits:
- Green Flag car breakdown cover - even on your driveway
- Mobile phone insurance – including all smartphones
- Annual worldwide travel insurance - Members and their partners aged 70 years and over must pay an additional annual premium of £50
- Travel benefits – discounts on holidays, flights and hotels
Nationwide Current Account
- VISA debit card with every account
- Free travel insurance: multi-trip European cover worth up to £70* (conditions apply)
- Manage your account online with an excellent internet banking service.
- Three-month interest-free overdraft when you switch to FlexAccount
- Free day to day banking
- Voted Best Overall Online Provider 2009 by Your Money
Card One Banking Guaranteed Bank Account
- CardOneBanking offers the following:
- Guaranteed Acceptance
- Sortcode & Account Number
- Have your salary deposited into this account
- Pay money in at any Post Office or high street branch
- Prepaid MasterCard card
- Create Standing Orders but you can not set up Direct Debits with this account.
- 24 hour account management by Phone, Text and Online Banking
- Dedicated Account Manager
- NO OPENING FEE
- NO OVERDRAFT FACILITY – No risk of going overdrawn
- NO EXTRA CHARGES – No charges for bounced standing orders
- NO CREDIT CHECKS! – Guaranteed to be accepted, regardless of your past credit
- YOU must be 18+ and UK resident
- £12.50 monthly management fee
Think Money Guaranteed Bank Account
- Think Banking offers the following:
- Guaranteed Acceptance
- Sortcode & Account Number
- Have your salary deposited into this account
- Pay money in at any Post Office or high street branch
- Prepaid MasterCard card
- Create Standing Orders but you can not set up Direct Debits with this account.
- 24 hour account management by Phone, Text and Online Banking
- Dedicated Account Manager
- Opening fee of £25 (£30 for a joint account)
- NO OVERDRAFT FACILITY – No risk of going overdrawn
- NO EXTRA CHARGES – No charges for bounced standing orders
- NO CREDIT CHECKS! – Guaranteed to be accepted, regardless of your past credit
- YOU must be 18+ and UK resident
- £14.50 monthly management fee (£19.50 for joint account customers)
