How do I Open a Current UK Bank Account?
The most common type of bank account in the United Kingdom (UK) is called a current bank account (equivalent to a checking account in the U.S.). UK current bank accounts are not to be confused with basic bank accounts which help people get banking facilities when they are unable to get a current account. Current bank accounts offer full banking facilities such as debit and credit cards, overdrafts, direct debits and checkbooks with a check guarantee card. The UK Financial Services Authority (FSA) supervises and monitors all authorised banks and lists nearly 160 incorporated in the UK. Competition between banks for current accounts is fierce with the majority of UK banks offering many types of current accounts. It can be daunting deciding which bank to choose, and which type of current account you want to open.
