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Bank Accounts

There are many companies in the UK offering many different bank account products, These bank accounts come under two main catagories:

  • Current Accounts
  • Savings Accounts

These can be split down into two different groups, i.e. those that are solely Internet operated and given the conventional name of Internet Bank accounts; and normal bank accounts that may offer acess via the internet but are a conventional bank account for over the counter deposits.

As you can imagine, solely Internet bank accounts can't offer you the conveniance of over the counter deposits as their aren't any counters. However some companies have got around that with other methods. Some facilities include postal deposits but these can't be used for cash, only cheques etc. Other banks may allow deposits to their sister or parent companies counters and have the money transfered into your account. These things need to be considered when planning which account you wish to apply for.

Internet only accounts often have much less overheads and so can pass on the savings to you, the customer by way of higher interest rates. The price you pay can often mean you have to operate your bank account on the Internet or phone, and some restrict it to Internet only.

Saving Accounts


Current Accounts

Some popular Current Accounts include:

Related Articles

Open a Bank Account

Explains the general process of opening a new Internet Bank account.



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