Current Accounts Flashcards
1
Q
Standard account
A
- must have a fair credit rating
- no banking fees
- salary can be paid directly into the account
- overdraft facility- the interest may be high
2
Q
Student account 👩🎓
A
- interest free overdraft up to a certain limit -if you go over the limit, the interest can be very high
- debit card
- some account offer free gift card or travel discounts
3
Q
Basic account
A
- this is a no-frills account aimed at customers with a poor credit rating
- no overdraft facilities
- no banking fees
- debit card
- facility to set up a debit card to pay bills
4
Q
Packaged, premium account
A
- similar to standard account but offers additional features for a monthly fee
- benefits such as travel insurance or discounts on goods and services - customers have to pay for these even though they may not want them
- interest on credit card balance
- special rates of interest in overdrafts
