Tips for current account online

We are now becoming more and more accustomed to shopping around – so if we are comfortable with the idea of remortgaging, switching credit cards and mobile phone companies, why do we insist on staying with the same bank we’ve been with for years?

There are several ways of making the most of your current account:

• Interest rates: Always shop around for the best interest rates, and look out for high charges on overdrafts and other services.
• Bank charges: Check what the authorised and unauthorised overdraft fees are to avoid paying over the odds if you go into the red. Banks will charge you a fee as high as £25 if a cheque or standing order bounces due to insufficient funds in your current account.
• Free Gifts: Some current accounts offer extras, such as free cash, a bonus interest rate, or breakdown cover on your car.