Current Accounts Information Guide

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A Current Account is an active bank account into which deposits can be paid and from which withdrawals can be made. It is an instant access account offering facilities such as cheque book, cash card and guarantee card. Automated payments such as standing orders and direct debits are available with a current account. Cheques can be drawn on this sort of account and there are many different kinds of current accounts so you should choose one that suits your own personal needs.
Interest is paid on funds deposited into a current account and there are High Interest Current Accounts available.

UK Current Accounts are for permenant UK residents, they are for personal use and should not be used for business, club, society or organisation banking. There are many different current accounts to choose from and you should shop around to find the right current account for your own personal circumstances. There are current accounts that are tailored to meet the needs of students.
There is no minimum amount that you have to earn before you can open a current account, however many current account providers are offering a higher rate of interest if you have more than £1000 paid into your current account every month. These are called high interest current accounts. Your salary can be paid directly into your current account. Payments can be made by cash, cheque, transfers, standing orders or BACS transfer.
Withdrawals can be made instantly at the bank itself or by using UK cash machines (ATM's) but you may find that a limit has been set on the actual amount you are able to withdraw in one day, this limit is the amount that you can withdraw in one day only without incurring any charges.
Providing you are in credit there is no service charge on a current account which means that banking transactions such as deposits, cheques, standing orders, direct debits, transfers, and bill payments are all usually free.
A current account can be set up in joint names and can be set up online. Accounts can also be managed online. You can have 24hr access to your current account with the use of telephone banking and online service. Statements can be electronically sent to you, this means that you cut down on paperwork paper and become paper free if you received statements securely by email.
An Authorised overdraft can be arranged and so long as you never go over that overdraft limit you will not incur any additional interest charges.