In general, the basic current account will have very little in the way of limits on funds. However, there are certain current accounts that require minimum deposits each month, perhaps in return for a more generous interest rate. Other accounts will set a maximum balance to encourage customers to open a savings account; for more information see Maximum and Minimum Balance. The minimum account balance required to open an account is usually very small, often just one pound. Interest earned is subject to income tax and thus it is sometimes only paid on account balances up to a specified limit (see Interest Rates).
In addition, many current accounts are free-of-charge, with no monthly fees to pay. Accessing your funds and making transfers between accounts are also usually free services. Nonetheless, there are current accounts available that demand a regular fee, usually in return for special benefits such as extra interest or free insurance: for more details see Fee-Paying and Package Accounts. There are certain banking services that may result in fees, such as an overdraft facility (see Possible Fees and Charges). If you are keen to avoid paying unneccessary charges, you may be able to manage your finances without fees: see Avoidance of Charges for more information.
