Bank accounts
Bank accounts are almost a must-have for everyone in today's fast-paced, online focused society.
And if you don't have a bank account then it's probably time to think about getting one, as it's nearly impossible to do every-day things without one. They really do make life simple and cheaper.
• You can pay your domestic and utility bills like gas and electricity by Direct Debit - if fact internet broadband service providers often insist on this payment method. Discounts on utility bills are sometimes offered if you sign up for direct debit
• You'd need a bank account to cash personal cheques, otherwise it can be expensive and difficult
• Bank accounts help you create a banking history which means you can apply for cheaper loans, credit cards, and apply for insurance
• You can get your hands on your money from ATMs all over the world. You can also use your bank account to send money to relatives abroad
• You can purchase things over the internet and by telephone
• Start building a nest egg instead of adding to the stash under the mattress, which alarmingly some people still do!
Share this..
Related stories
HMRC allowed access to debtors’ bank accounts
13/07/2015 Under new rules written into the summer Budget but not announced by George Osborne in his speech, HMRC are allowed to recover tax and tax credit debts directly from debtors' bank and building society accounts, including funds held in cash ISAs. Direct Recovery of Debts will means HMRC will be able to recover money directly from peoples bank accounts without their permission if the...
Read MoreHMRC 'to raid bank accounts'
People who refuse to pay their taxes could have their bank accounts directly raided by HM Revenue and Customs (HMRC) under new plans.The idea is among proposals made in a consultation document published by the tax body last month that would allow tax collectors to bypass court orders.HMRC make 400,000 visits to people to collect unpaid taxes, with more than 200,000 cases eventually going to court....
Read MoreUK government wins right to view offshore bank accounts
As we mentioned yesterday, the UK government has been attempting to force 300 foreign banks, with branches in the UK, to disclose offshore bank details with regards to over 500,000 UK citizens. While there has been some debate as to whether access should be provided and ultimately whether the court would rule in favour of the UK authorities, HM Revenue and Customs has been successful in its attemp...
Read MoreSmall businesses choosing retail bank accounts
Proprietors of small businesses are shunning business bank accounts in favour of standard retail offers, a new study has shown. Research conducted by price comparison web site moneysupermarket.com found that over a million small businesses are currently using a retail bank account.Kevin Mountford, head of current accounts at the site, attributed the trend to the fact that retail accounts typically...
Read More