A current account is a standard bank account provided by a bank or building society. This account is designed for the everyday management of your money, for example depositing your salary and paying your bills. There is not usually any cost for making deposits or for withdrawing funds, and you are also not required to give the bank any notice if you are planning to deposit or withdraw money. You will usually be issued with an account card and a chequebook to enable you to make payments from your account. You will typically be sent a monthly statement detailing your account balance and any deposits and / or withdrawals that have been made since the previous statement.
A current account enables you to pay bills automatically via direct debit, whereby the amount owed is collected from your account by the creditor on a monthly basis. Essentially a current account acts as a secure place to keep your money and is a useful way to manage your finances. You will be paid interest on the balance of your current account to reward you for depositing funds with your bank or building society. For more details see Operation of a Current Account.
There are several different types of current account available and choosing which one is suited to you is worth careful consideration. See Choosing a Current Account and Types of Current Account for advice on which might be best suited to you and what to look out for when choosing your account provider.
