Current accounts

• What are the 4 different current accounts?

  • Standard account
  • Basic account
  • Student account
  • Packaged premium account
• What is a standard account?

  An account where the customer must have a fair credit rating to have it
• Features of a standard account

  • No banking fees
  • Cheque book and bank card (often contactless)
  • Facility to set up standing order/direct debit for bills
  • Salary paid straight into account
  • Overdraft facilities (may have high interest)
• What is a student account?

  Aimed at learners in higher education to help them manage their finances.
• Features of student account

  • Interest-free overdraft to a certain limit
  • Debit card
  • Some offer free gift cards or travel discounts
• What is a basic account?

  A no-frills (no extras) account aimed at customers with poor credit ratings - similar to a standard account but no overdraft.
• Features of a basic account

  • No banking fees
  • Debit card
  • Facility to set up direct debit for bills
• What is a packaged premium account?


  Similar to standard account but offers additional features for a monthly fee.
• Features of a packaged premium account

  • Benefits such as travel insurance - has to be paid for even if unwanted
  • Discounts on good/services
  • Interest on credit balances
  • Cash back on bills paid by direct debit
  • Special interest rates on overdraft
  • Some benefits may not be required or used.