Despite what you might think, banks rarely offer something for nothing, even normal current accounts. That is, banks and some building societies levy a range of charges, both obvious and hidden, on their customers, meaning most people are paying for the privilege of having a standard account.
There can be many reasons you might want to change your current account and move your money to another bank or building society. While often bank clients tend to think that account changes can be a bureaucratic hassle, costly or difficult and in so stick with one of the larger banks for a lifetime, there are a range of good reasons to consider a change.
Just as you wouldn’t stick with a bad builder or with a supermarket you felt wasn’t offering you good value for money, neither should you stick with one single bank if you are unhappy with their service
If you’re moving abroad for more than a few weeks, you should open a bank account in your new country. This will make it a lot easier for you to pay your utility bills and set up direct debits.
Starting university can be a stressful time, not least when it comes to money matters. Generally speaking, this will be the first time you have to deal with things such as paying rent, paying your own utilities bills and even buying groceries and other essentials.
There are a wide range of current accounts out there, each with their own particular benefits and draw backs. Read on to discover which is the right option for you.