Finding the best current account for your circumstances will not only make managing your money easier, itíll also give you access to a range of facilities and services that help you keep control of your finances.
Getting the best current account deals isnít quite as straightforward as simply applying for one of the best buy current accounts on offer.
This is for one simple reason; when it comes to current accounts thereís no such thing as 'one size fits all'.
Instead the facilities, interest rates and charges that characterise each of the best current account offers mean that the best current account UK isnít necessarily the best option for your individual circumstances.
How do you use your account?
For this reason itís a good idea to think about how you use your bank account before you carry out a current account comparison as this will make it easier for you to narrow down your options and find the best current bank accounts for the way you manage your finances.
The most important things to establish are how much money you pay in to your account each month, whether you are in credit or overdrawn most of the time, and whether you are likely to want any of the paid-for Ďperksí that come with the best reward current account deals.
Many of the best current account deals specify a minimum monthly credit that you need to meet in order to use the account without charge. Itís essential that you can comfortably afford to meet the monthly minimum credit for the account that you choose otherwise youíll be paying for your banking facilities needlessly.
If your income isnít regular and you feel youíd struggle to meet a minimum credit each month, then simply look for a suitable account that doesnít require you to do this.
If you spend most of your time in credit then it makes sense to look for an account that rewards you with interest. This will help the money you keep in your current account work even harder for you.
Similarly, if you spend most of your time in your overdraft then look for an account that charges as little as possible for this facility. If you can find a current bank account that offers a free overdraft for a certain length of time then even better.
If you tend to swing between being in credit, and dipping into your overdraft during the course of a month then look for an account that offers low overdraft charges and interest on in credit balances so that you get the best of both worlds. However, do weigh up your options to ensure that you wonít be paying out more than you need to in overdraft charges because youíve opted for a high interest current account.
Do you want rewards?
If you want something extra from your current account then choosing the best current account with benefits that youíll use and canít get cheaper elsewhere can be a convenient way to get more from your bank. Of course, you will have to pay a fee for this type of account but providing you make the most of the benefits on offer they can present value for money.
Simply put, when it comes to choosing between the best current accounts UK banks and building societies are offering. Think about what you want your bank account to do for you and then choose the option that combines easy access with facilities that help you make the most of your money.