choosing a current account
When choosing a current account, decide what services and
facilities you think you will want from it.
Is it the convenience of a local branch, or do
you want a high rate of interest on credit balances? Do you want to
transact online or over the phone, or do you want access to
face-to-face advice?
If you able to save regularly, you may want to
look at regular saver accounts which pay high interest, but require
the discipline of depositing a set amount each month.
Or how about an offset account? This means the
bank balances your savings against your mortgage, thereby reducing
your net debt and helping you to pay your mortgage off early. You
also save tax this way, because you don't have to pay interest on
your savings.
Some top paying accounts, however, require you
to buy other products with the bank or to pay in a
certain amount each month in order to be eligible.
Alternatively, your main concern may be that
you obtain interest on deposited cheques the day they are banked, a
service offered by Lloyds TSB’s current accounts.
Whatever your requirements, you can use Defaqto’s Current
Account Compare tool to find the best deal for your needs.