How much does a bank account cost?
A bank account usually costs nothing, as long as you don't spend more money than you have in the account (called going overdrawn).
Opening an account
Which one is right for you?
Running your account
|•||You can take cash and cheques made payable to you to your local branch, and complete a paying-in form.|
|•||You can pay in cheques made payable to you, by post.|
|•||Your account can receive automated transfers, such as your salary, paid straight into your account by your employer. This is known as payment by BACS and your employer will need your bank details to do this, including your sort code and your account number. You’ll find these on your bank statement, cheque book or card.|
|•||Get cash out from a cash machine, at the supermarket and other shops (known as cashback), or at your branch. There is a limit to how much you can get each time.|
|•||Pay for goods using your debit card or by cheque (although cheques are less common now and some banks are phasing them out).|
|•||Pay bills by direct debit, standing order, cheque, telephone or online banking.|
|•||Check statements from your bank and report anything wrong.|
|•||Check receipts or mini-statements from cash machines and report anything wrong.|
|•||Fill in cheque book stubs to keep track of what cheques you have written and who you've written them to.|
|•||Keep paying-in stubs until the money has arrived in your account.|
|•||Keep track of where your money is going and keep your bank statements in a safe place. You may need them for tax purposes.|