How To Choose A Bank
| Money : Banking In general, banks tend to get negative press. This is unfortunate because, whilst some comical mishaps and bad customer service does happen, in the main banks provide an essential function to us that we couldn't do without. It is only because basic banking is free that we tend to take the service for granted rather than treat it as a privilege. When you are choosing a bank, what should you consider? Well, the main consideration is what you will use the account for - is it to contain a small pool of money that you will regularly dip into and take out of, and add into - e.g. a current account. Or are you looking for a savings account or some other more sophisticated product? If you are looking for a standard current account and will not be keeping much money in there, then most accounts will suffice. The interest won't be an issue, so go with a trusted provider. If you anticipate you will need the overdraft facility, then you should shop around for the most attractive rates and buffers - some charges are particularly high for those who go overdrawn! If you are looking for a savings account, then it's a good bet that the high street won't offer anywhere near the best value. Often internet accounts are best for higher interest rates, as these banks don't have the high branch costs and can offer higher rates - and also that's the play that they make for your money too.
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