Unit 1 topic 4
- Created by: ruyb
- Created on: 05-03-18 12:56
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- Unit 1 topic 4
- Types of current account
- basic account
- for people on benefits and low incomes
- can't go into any debt
- doesnt have a debit card
- cash cards and prepaid card
- used for financial inclusion
- youth accounts
- for under 18's
- services vary depending on account
- standard accounts
- offer a large range of services
- debit card & cheque book
- most common account
- student and graduate accounts
- low or no interest overdraft
- only available for students
- interest paid when in credit
- pay interest on credit balances
- expensive overdraft
- joint accounts
- held by two or more people
- if account is overdrawn alll parties are responsibe
- packaged accounts
- exara benefits for a fee
- insurance, discounts, subscriptions
- premium accounts
- designed for wealthy customers
- offer extra services for a fee
- have to have a certain level of income to open one
- basic account
- Types of current account
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