Differnet Types Of Current Account Flashcards

1
Q

Standard account- bank accounts designed for everyday use
2 positives 2 negatives

A

No charge on credit balances
Convenient for collecting wages and withdrawing money

No additional perks
Potentially high charge on overdraft

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2
Q

Basic current account
(2 positives and 2 negatives)

A

Don’t need a high credit rating
Easy first step in banking

No debit card
Limited facilities/ overdraft

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3
Q

Student current account

(2 positives and 2 negatives)

A

Fees and loans can be easily handled
Perks are designed for students

Overdraft could encourage overspending
Overdraft charges are large

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4
Q

Premium current account

(2 positives and 2 negatives)

A

No charges on credit balances
Additional perks

Additional monthly charge
May not be worth for some people

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