Section A types of current accounts

Question 1

2 advs of standard account

Answer 1

No charges of credit balences

offers wide range of banking facilities required

Question 2

2 dis advs of standard accounts

Answer 2

posibility of high intrest on overdrafts

standard features only w no additional benefits

Question 3

2 advs of packaged premium accounts

Answer 3

often cheaper than buying all additional benefits seperately

no charges on credit balences

Question 4

2 dis advs of packaged premium accounts

Answer 4

value of incentives on offer only worth it if needs of customer are met

additional monthly charges are often applied

Question 5

2 advs of basic account

Answer 5

available to those with low credit ratings

offers an easy first step to gaining acces to basic banking features

Question 6

2 dis advs of basic accounts

Answer 6

limited facilites = inconvenient

may take time to improve credit rating to progress to standard account

Question 7

2 advs of student accounts

Answer 7

low deposits required

incentives and freebies can be usefel e.g free rail cards

Question 8

2 dis advs of student accounts

Answer 8

Low interest on credit balences compared with a standard current account

overdraft facilites could encourage overspending