A3 - Current Accounts Flashcards
1
Q
What is a basic current account?
A
It’s mainly used by people who have poor credit rating and struggle to open a standard account, and has limited facilities & no overdraft available.
2
Q
What is a standard current account?
A
It’s the most common, and includes a prearranged overdraft, standard features such as paying in and withdrawng money, & a debit card.
3
Q
What is a packaged/premium current account?
A
It has a monthly fee that provides additional benefits such as breakdown cover, cashback on purchases, home insurance, and payment protection.
4
Q
What is a student current account?
A
It’s useful for university students as it provdes an interest free overdraft, railcards, and discounts for eating out.
