Current accounts

Current accounts are the most common type of bank account and are designed for everyday use. They are normally used to pay bills by direct debit or standing order and are also used for receiving salary payments.

Current accounts do not usually pay much interest on the money you have in the account. There is a huge range of different accounts so it pays to shop around and compare the benefits such as overdraft facilities, charges and interest rates to find the right account for your own circumstances. Overdraft bank accounts are available from some banks.

Current accounts can be presented as packaged bank accounts. These normally come with benefits such as money-off vouchers, free travel insurance, concierge services and other benefits. These benefits are not free because packaged bank accounts charge a monthly fee typically between £5 and £25 depending on the level of benefits.

	Halifax launch cashback offer on current accounts Halifax has launched a cashback offer for debit and credit card spending linked to some of its current accounts.
	OFT not to refer current accounts to Competition Commission The Office of Fair Trading has decided not to refer the current account market to the Competition Commission saying it will monitor proposed changes and review the sector again in 2015.
	Post Office to offer current accounts in challenge to banks The Post Office is set to challenge the hegemony of the High Street banks by launching a new current account and taking advantage of its existing customer base.
	The top five current accounts to switch to for cash and benefits If you have never switched current accounts there are some very enticing options for 2013. Choose from free cash, free insurance, no overdraft fees or cashback.
	Watchdog reviews current accounts in fresh banking probe The Office of Fair Trading has announced that it is to launch an investigation into the personal current account market to improve competition and review whether previous advice has been implemented.