Account charges vary widely between different current bank accounts. The list of charges to watch for when choosing between different accounts includes:
A charge for an overdraft facility
Added overdraft arrangement or extension fees
Fees for unauthorised overdrafts (these could be as much as £20 a day!)
Charges for one-off services like unpaid items, stopped cheques, extra paper copies of statements etc.
Charges for cash withdrawal abroad- you may pay both a withdrawal fee and a foreign exchange conversion fee
Charges can make a big difference to the effective interest that you pay if you regularly go overdrawn without permission or frequently need to stop cheques. Check these out in advance to prevent nasty surprises.
See our other
current account best buy recommendations.
