Types of bank account
This is your basic account which is used for day-to-day purchases and deposits.
This type of account normally comes with a cashcard which you can use to withdraw money from cashpoints (ATMs) up to a daily maximum limit.
Cashpoints are usually accessible 24-hours a day and located on the walls of banks and in some shops.
Please note that if you use the cash machine of a different bank you may be charged for taking money out. The machine will warn you if this is the case.
A current account is important because it allows you to set up a regular payment, normally called a Direct Debit. Your tuition and accommodation fees are usually paid as Direct Debits.
Other bills, such as mobile phone bills, are usually directly debited from your account.
It is a good idea to open a savings account if you intend keeping a lot of your money in your account which isn't used regularly.
You will receive a higher interest payment from the bank if you keep money in a savings account.
The money may not be as accessible and you should check carefully the method for moving or withdrawing your money.
You will not be able to setup a Direct Debit from a savings account.