Current Account Guide

24 February 2010 - Which Way to Pay

    



Current Account Guide

 

 

 

Which Way To Pay is expanding and will soon be providing full comparisons for current accounts and savings accounts.  Alongside the usual comparison charts, each product will be given an independent review while over in the Information Library, there is already a new area covering the topic.

 

Today, many consumers are choosing to be careful with their money.  After what was a tough 2009 while the UK slipped into a deep recession, regular households are still being relatively careful with spending and budgeting. 

 

 

Current Accounts

 

A current account is one of the most standard account types offered by banks, building societies – you can even get special account types at the Post Office®. 

 

 

Application Requirements

 

When you apply for a new current account, the easiest way of going about this is visiting your nearest branch – that way you can have a face-to-face chat with a representative.  Once you have chosen one, you will need a range of documents, typically these include:

-          Photo ID (passport, driving licence)

-          Proof of address (utility bill)

Verifying your identity is a legal obligation for all banks and building societies. 

 

 

Credit Pass?

 

Once they have checked your ID and address, they may carry out a credit score.  This will help them to decide whether you are suitable for this account.  If you do not pass their requirements, they may offer you an alternative, such as a Basic Bank Account.  Unfortunately, they may turn you down altogether – but luckily this rarely happens.

Have a look through our Information Library at the new area for a full in-depth guide to all bank account types.

 

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