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Important information about our call charges
If you’re calling from the UK, calls to 0800 and 0808 numbers are free from landlines and mobiles; calls to 03 numbers cost the same as calls to numbers starting with 01 and 02; calls to 0845 and 0870 numbers cost 3p per minute, plus your phone company’s access charge; calls to 0844 and 0843 numbers cost 7p per minute, plus your phone company’s access charge. Charges for calls made outside of the UK will be determined by your local provider.
Calls may be monitored or recorded for security and training purposes.
What is a current account and what do I need to know?
Want to know about the benefits of a current account? Find out everything you need to know about opening a bank account here.
What is a current account?
A current account is a bank account where you can store and withdraw money.Most banks offer a range of current accounts that have different features, so you can find an account that best suits your needs.
When you open a current account, you are usually assigned an 8-digit account number, a 6-digit sort code and a debit card which you can use to access your funds.
Debit cards only allow you to spend the amount you have in your account (unless you have an arranged overdraft).
What is a current account used for?
Current accounts are used for most everyday banking actions. This includes paying Direct Debits, mobile phone bills, utility bills, making rent payments, making cash deposits and using chip and PIN or contactless to pay for purchases.Most people will get their wages paid into their current account. They then have the option of transferring money to a savings account, or any other bank account if they need to.
What are the benefits of a current account?
Current accounts allow you to easily manage your finances. With most accounts, you get access to online and mobile banking, making it easy to see what’s coming in and what’s going out as you use your debit card for every day purchases.You can move money to your other accounts, make payments to friends and family, and manage your money easily. A current account gives you a convenient way to check your balance and bank on-the-go.
Do I have to pay for a current account?
It depends on what kind of account you have.
Basic bank accounts usually don't come with a charge. They are suited to those who have no or low credit rating, as well as young people aged 16 and over. You can still use online and mobile banking free of charge with most basic bank accounts.
Standard current accounts, sometimes called 'everyday current accounts', will not charge you for everyday banking if you stay in credit.
Packaged current accounts often come with a monthly fee, but also provide other benefits. For example, our Everyday Extra Current Account has a charge of £15 a month, but you also get travel insurance, UK and European breakdown cover, and mobile phone insurance.
Who can open a current account?
In the UK, you can open a bank account providing you are aged 16 or over, and you have proof of your identity and address.You can open our Cashminder account or Current Account if you are aged 16 or over, and an EU resident. Approval for our Current Account is usually based on a credit check, and an assessment of your personal finances. More information can be found on our Current Account and Cashminder pages.
Important things to remember
- If you have not arranged an overdraft on your current account and you go overdrawn, you may incur fees and charges
- Applying for a current account may affect your credit rating
- You may incur other potential charges on your account if you make foreign transactions or use your card abroad
- If you hold a current account with us and experience financial difficulties, it’s important you let us know as soon as possible. Our dedicated team will be more than happy to help you. You can get in touch by calling +44(0)344 844 8899. Please see our UK Call charges
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