When it comes to choosing the best bank account for you, there is a lot to consider. Of course, you’ll probably want an account with a bank that has branches near to where you live so you can pop in when you need to. And, increasingly, the online facilities that banks offer are more important.<\/p>\n

But once you’ve found a bank that’s right for you, how do you choose the right bank account? There are loads of options out there but most current accounts fall into two distinct camps; standard and \u2018packaged’ accounts that give you additional features.<\/p>\n

What’s a full facilities account?<\/h3>\n

Full facilities accounts are what most people use to pay their salaries into and to pay bills and withdraw cash. But don’t be put off, because these accounts can still be an exceptionally convenient way to bank and offer some excellent facilities. And the really good news is, they are usually free.<\/p>\n

So what do you get with a full facilities account? Well, with most of these accounts you will still be able to bank in branch as normal, plus over the phone and via the internet. With all but very basic bank accounts you’ll be given a debit card that enables you to pay for things without using cash \u2013 and withdraw money from an ATM when you do need cash. The online facilities of these accounts means you can keep a close eye on your spending and how much money you have.<\/p>\n

Full facilities accounts are a great option if all you need is a very functional bank account.<\/p>\n

What’s a packaged account?<\/h3>\n

Packaged accounts have similar features to a full facility account\u2026 and then much more besides. In fact, most of these accounts aim to help make your life easier by providing services you might need.<\/p>\n

For example, many packaged accounts come with travel insurance that will cover you for your holidays abroad. They can offer mobile phone cover in case yours goes missing and even home emergency cover. Some provide card protection and breakdown cover if your car lets you down.<\/p>\n

So all in all, packaged accounts are a great way of getting a wide range of services from reputable third party providers \u2013 but usually you have to pay a monthly fee. They can really take the stress and hassle out of arranging different types of insurance and cover individually. But, don’t forget, with such a great package, many accounts of this type charge a monthly fee.<\/p>\n

Do your sums<\/h3>\n

The secret to working out whether a full facility or packaged account is right for you is to do your sums. Work out what services you need and how much they would cost if bought separately and then compare this to the fees the packaged account would charge each month.<\/p>\n

You never know, you might find that upgrading your account actually saves you money.<\/p>\n","protected":false},"excerpt":{"rendered":"

It has often been thought that a current account is just the same at all banks or building societies where interest rates are scandalously low and overdrafts are hard to come by but it is a little bit more complicated than that. Here we try to guide you towards the best current account for your needs whether that is a student account, offshore account or premier current account (those that give you extra benefits such as free travel insurance, breakdown cover etc.).<\/p>\n","protected":false},"author":3,"featured_media":1745,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[116,117,119,120,118,121],"class_list":["post-140","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-current-bank-accounts","tag-interest-paying-current-accounts","tag-offshore-current-bank-accounts","tag-price-comparison-site","tag-student-current-accounts","tag-tax-advantages"],"acf":[],"yoast_head":"\n