miercuri, decembrie 19, 2018
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Prepaid Cards

Bank and Current Account

A bank account is a monetary account with a banking institution recording the balance of money for a customer.

Bank accounts may have a positive or credit balance where the bank holds money on behalf of the customer; or a negative or debit balance where the customer owes the bank money.

Broadly, accounts opened with the purpose of holding credit balances are referred to as deposit accounts; whilst accounts opened with the purpose of holding debit balances are referred to as loan accounts.

Some accounts are defined by their function rather than nature of the balance they hold. Bank accounts designed to process large numbers of transactions may offer credit and debit facilities and therefore do not sit easily with a polarised definition. These transactional accounts are called current accounts in the UK.

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Simply Said!
  • The current account is one of the many bank and building society accounts in the UK.
  • All such accounts would suit the needs for the cautious investor.
  • Saving accounts offer instant assess and are good to keep in short-term and emergency money.
  • High-interest accounts are preferred for longer term saving.
  • Capital in such accounts is secure but not protected against adverse effect of inflation.
  • Good tax treatment for non-taxpayers and basic tax payers.
  • Such accounts are not advantageous for higher rate taxpayer.

Bank Accounts in the UK

The biggest banks in England and Wales are Barclays, Lloyds, HSBC and Natwest; while in Scotland - The Royal Bank of Scotland.

Alongside of the classic banks in the United Kingdom you will also find so called Building Society (like Halifax).
All you need to open an account in the bank is a valid ID and an address confirmation (like, for example, bills on your name).

Types of cards, issued by the banks:

*Cash Card - issued when a Basic Account is opened and only allows you to withdraw cash from the cash machines (ATMs).

*Debit Card - issued together with a check book while opening a Current Account, you can pay with this card as long as you have sufficient money on your account.

*Credit Card - issued after about 6 months after the account opening; it allows you to pay even if you have no money on your account, but a big interest is counted everyday of the overdraw.

The savings accounts have higher annual interest and motivate the owners to save money every week. ISA is the best account type, because the interest rates stored there are not taxable.

* Termeni și condiții: Vânzările confirmate de următoarele produse: defalcare, asigurare masina, casa, proprietar, pe viața, răspunderea publică, pentru animale de companie și de asigurare van. Vom verifica toate vânzările pe numele tău. Asigurare trebue sa ramana in vigoare pentru cel puțin 3 luni. Toate vânzările vor fi verificate în baza de date și numai cele confirmate vor intra în tragerea la sorți. Ne rezervam dreptul de a refuza intrarea pentru vânzările care au fost anulate.

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