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which bank account for my friend.
homersimpson_3
Posts: 1,249 Forumite
which is the best current account offering interest free overdrafts, cheque book and switch for someone earning less 1k.
my friend is finally beginning to take finances seriously (and has undoubtly reduced debts because of this forum). she seems (finally) to be getting the savings bug. she trusts building societies more than banks and is worried about internet banking (security). i want it transfer to go as smoothly- don't want her panicing and going back to her old ways.
cheers
my friend is finally beginning to take finances seriously (and has undoubtly reduced debts because of this forum). she seems (finally) to be getting the savings bug. she trusts building societies more than banks and is worried about internet banking (security). i want it transfer to go as smoothly- don't want her panicing and going back to her old ways.
cheers
0
Comments
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What do you mean by 1k?"Some say the cup is half empty, while others say it is half full. However, this is skirting around the issue. The real problem is that the cup is too big."0
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k= shorthand for thousand (2km = 2 kilometres or 2000 metres) so 1k = 1000, 5k= 5000 etc,0
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I think the poster was referring to whether it is £1000 per month or per annum!
Eric0 -
they earn less than 1000 per month.0
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just be aware that banks & building socities offer different services - if your friend intends to pay bills (gas, leccy, water & most catalogues) by bank giro credit, then the majority of building socities won't accept them even if you have an account with them, & the banks will charge because you are not their customer unless the company you are paying have made a fee free arrangement with the bank.
as far as a maestro (switch has been renamed!) card is concerned, as long as your salary is mandated to the account you will normally be issued with a card irrespective of the amount - the banks/BS offering the higher rates of interest insist on £1k minimum as a condition of the higher rate account
Building socities generally open on a Saturday morning, whereas that only happens with the banks in main town centres
it just depends on your friends particular needs0 -
I would recommend one of Alliance & Leicester's Current Accounts. As your friend earns less than £1000 per month (and you don't mention whether this is gross or nett), it would most likely be the more basic account of the two. She would have to be at least 21. One bonus is that you get £25 for merely opening it!
See this link:
http://www.alliance-leicester.co.uk/currentaccounts/index.asp?page=prem-credit-interest&ct"Some say the cup is half empty, while others say it is half full. However, this is skirting around the issue. The real problem is that the cup is too big."0
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