Current Accounts Flashcards
1
Q
What are the main types of Current Accounts?
A
Standard Account
Package Premium Account
Student Account
Basic Account
2
Q
What are the 5 features of Standard accounts?
A
- No banking fees
- Cheque book and card
- Facilities to set up direct debits and standing orders
- Salary can be paid directly into the account
- Overdraft Facilities
3
Q
What type of credit is necessary to have a standard account?
A
A fair credit ratting
4
Q
What are 4 additional features of Packaged Premium accounts?
A
- Travel insurance
- Interest on credit balances
- Cash back on household bills
- Special rates of interest on overdrafts
5
Q
What are 3 features of student accounts?
A
- Interest free overdraft
- Debit card
- Some accounts offer free gift cards or travel insurance
6
Q
What are 3 features of Basic accounts?
A
- No banking fees
- Debit card
- Facility to set up direct debit
7
Q
What account targets learners in higher education?
A
Student Account
8
Q
Who are basic accounts aimed at?
A
Customers with poor credit rating
