Best Bank Accounts

A current account is about as basic as the financial world gets, and it’s almost unthinkable to think that some people  use this as their savings account.

 A current account is there for two main reasons. Firstly, it lets you store your money in a safe and secure location. And secondly, it allows you to make direct debit payments which is part of life nowadays

You’ll find that it isn’t just banks that are offering current accounts, even supermarkets and post offices are catching doing it . Why because your money will be making them 14% or so per year while they pay you something like 0.01%. If you do have savings it is time to move them to a high interest savings account.

High interest savings accounts are available from a number of building societies, banks and savings companies throughout the UK.

They offer high interest rates in a saving accounts environment that will include a number of terms and conditions regarding the size of savings, allowance of deposits and withdrawals, and the level of interest rates. Typically, the savings accounts with the highest rates of interest may also have the highest requirements and restrictions, but this is not always the case. So have a good look around before you sign up

Online banking is here to stay and many people are keen to be a part of it. Instead of accessing paper statements, you now just  log in to your account online and check your balance. You can  make payments over the internet any time or day of the week no problem. Switch money from one account to another.

Online savings accounts have become increasingly popular in the Internet age. They allow close management of payments, transfers, direct debits and statements, with security that has become increasingly robust. Online savings accounts also tend to offer higher levels of interest than their standard equivalents, due to the options of reducing paperwork and also the lesser level of customer service required in administering them.

A range of online savings accounts in various forms are available, with options such as monthly or yearly interest, various levels of access and regular savings requirements.

Student banking like all other online savings accounts can be used  over the Internet, in branches or by post. It is a highly competitive area for them, the idea being they  provide good student banking during university to ensure many new long-term customers upon graduation. Internet student banking accounts are also becoming more popular for both banks and students, allowing easy management of accounts and money with lower administration costs.

Typical features of student bank accounts are Internet management, interest free overdrafts until graduation and various perks available on account opening.

If you are thinking of opening a savings account, here are some of the options available:

Notice accounts – In notice account you cannot withdraw the money before time, which is specified during the opening of the account, as you stand to lose interest for the number days. The advantage of opening a notice account is that it gives better interest rate than the others. So also, the more number of notices with you, the better interest rate you’ll get.

Postal accounts – Since it is done through the post, it enables the provider to offer higher rate of interest. Most postal accounts use first class post, but then at times you do have to rely on the efficiency of the post.

Regular savings accounts – If you’re able to save a set amount each month then this account is ideal for you. Though it allows only one or two withdrawals a year, and a handful of them offer bonus.

Fixed rate accounts – Here you get an access to your money deposited plus a fixed rate interest after a period of time. In fixed rate account, interest rate can increase or fall and you’re only affected once the fixed period is over.