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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!

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