The Benefits of Opening a Current Account
Long gone are the days where it was enough to have a home safe or even a spare mattress to hide your hard earned money in and frankly once we hit adulthood we're all a bit past tucking our money into a piggybank. So how else can you keep your money safe and still have such easy access to it whenever you need it? The answer is simple: open up a current account. There are many benefits to opening your own current account that you will never receive if you continue to protect your money in different ways and there are some situations for which a current account is absolutely essential, such as to receive a monthly salary from an employer or pay a mortgage, or rent.
Firstly, your current account is a safe and secure place to store your money, even in the day and age of card fraud. You are far more likely to have your house broken into and your secret money stash found than you are ever to be on the receiving end of identity theft and if someone steals money from your home or wallet then it's gone forever. In the latter case, a current account will give you protection and assurances from your bank that will allow you to reclaim the money if anything goes wrong.
When you open a current account, your bank will usually issue you with a debit card, and possibly a cheque book, for your use. Your debit card can be used to withdraw money from an ATM or used in many shops to purchase goods, meaning not only do you not have to carry large amounts of money with you, but that your money will be available to you at all times of the day and night and not just when the bank is open.
Having a current account and keeping your finances in good order will also help you build up your credit score which will allow you to obtain other forms of credit later on. If you're ever planning on getting a mortgage to buy a house, or using a personal loan to buy a car, having built up your credit rating with a current account first will mean a bank is much more likely to approve your application and you may also get preferential rates. Even better, if you take out a current account with a bank and then apply for credit with the same bank they may have premium products that their current customers have access to that new customers don't.
All in all having a current account is a safe, sensible way to store your money. There are many different banks offering current accounts, so you'll be spoiled for choice.
Firstly, your current account is a safe and secure place to store your money, even in the day and age of card fraud. You are far more likely to have your house broken into and your secret money stash found than you are ever to be on the receiving end of identity theft and if someone steals money from your home or wallet then it's gone forever. In the latter case, a current account will give you protection and assurances from your bank that will allow you to reclaim the money if anything goes wrong.
When you open a current account, your bank will usually issue you with a debit card, and possibly a cheque book, for your use. Your debit card can be used to withdraw money from an ATM or used in many shops to purchase goods, meaning not only do you not have to carry large amounts of money with you, but that your money will be available to you at all times of the day and night and not just when the bank is open.
Having a current account and keeping your finances in good order will also help you build up your credit score which will allow you to obtain other forms of credit later on. If you're ever planning on getting a mortgage to buy a house, or using a personal loan to buy a car, having built up your credit rating with a current account first will mean a bank is much more likely to approve your application and you may also get preferential rates. Even better, if you take out a current account with a bank and then apply for credit with the same bank they may have premium products that their current customers have access to that new customers don't.
All in all having a current account is a safe, sensible way to store your money. There are many different banks offering current accounts, so you'll be spoiled for choice.
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