Different Types of Bank Account Checklist

What sort of Bank Account is best for me?

Deciding which sort of Bank Account is best for you can be quite confusing. To help you decide, you can PRINT THIS PAGE and then simply answer all 3 groups of questions below.

If your answer is ‘YES’, put a tick in the green circle.
If your answer is ‘NO’, put a tick the red square.

If you don’t understand or are unsure about any of these things, please get someone to help you.

Start by answering this first group of questions:

1. Do you get money from benefits, wages or presents ?
2. Do you want to pay bills ?
3. Do want to use a cash machine to take out money ?
4. Do you want to never spend more than the money you have ?
5. Do you want to pay regular amounts to someone else ?

If you have answered 'YES' to all four questions above, or if you have not had a Basic Bank Account before, then a Basic Bank Account is probably best for you.

Now answer this group of questions in case there are more things you want to be able to do:

1. Do you want to write cheques ?
2. Do you want to use a bank card ?
3. Do want to use the telephone to buy things ?
4. Do you want to use the internet to buy things ?

If you have answered 'YES' to some or all of the four questions above, then a Current Account is probably best for you.

If you answered 'No' to ALL four questions, then a Basic Bank Account will still be best for you.

Finally answer this third group of questions:

1. Do you get money from benefits, wages or presents ?
2. Do you want to get interest on the money you have in the Bank ?
3. Do you want to save for special things ?

If you have answered 'YES' to all three questions above, then a Savings Account is probably best for you.

You can have more than one Bank Account.  You could have a Basic or Current Account for things you buy every day and have a Savings Account to help you save for things like a holiday.