There are four main types of accounts. The current account, is typical for day to day banking, and can be used to withdraw, deposit, write cheques, and use your debit card.
The basic bank account is similar to the current account in that it is also a day to day account. Most of the time, however, this account cannot be overdrawn for more than ten pounds if at all.
Savings accounts are great for doing just what they are named for…saving. Whether you are saving for a rainy day, or your next big purchase, these accounts normally draw a greater interest rate, giving you the best bang for your buck.
Sharia-compliant accounts are accounts that are similar to current accounts, but are structured and comply with Islamic laws.
Don’t be afraid to ask questions. After all, it is your money, and it is the bank attendant’s job to serve you. … Read the rest