types of current accounts

Question 1

advantages of a standard account

Answer 1

-no charges on credit balance
-offres the holder a wide range of facilities
-convenient for regular payments

Question 2

disadvantages of a standard account

Answer 2

-potential high charge on a overdraft facility
-only standard features

Question 3

advantages of a premium packaged

Answer 3

-no charge on credit balance
-offers holders a wide range of facilities
-convenient for receiving regular payments
-offers additional perks at a cheaper price than getting them individually

Question 4

disadvantages of a premium packaged

Answer 4

-additional monthly charge is applied
-may not offer value for money

Question 5

advantages of a basic account

Answer 5

-available to those with low credit rating
-offers easy first steps for people to get basic banking facilities.

Question 6

disadvantages of a basic account

Answer 6

-limited facilities

Question 7

advantages to a student account

Answer 7

-course fees and student loans can be easily handled
-bonuses offered are designed to meet the needs of the learners

Question 8

disadvantages to a student account

Answer 8

-overdraft could encourage overspending
-charges for overdraft are high
-limited facilities