Guide to current accounts and debit cards

Current accounts are designed to help you to manage your money. Find out about different types of current accounts, as well as debit cards and overdrafts.

Bank accounts make it easier to pay your bills and to get paid. And they're a lot safer than keeping your cash under your mattress.

Current account

A current account is a type of bank account that's designed to make day-to-day money management easy.

With a current account you can usually:

• Manage your money in-branch, over the phone or online
• Access your money easily and often
• Receive payments, like your salary or any other money you're owed
• Pay in extra money yourself
• Set up Direct Debits and standing orders to pay regular or one-off bills
• Pay for things with a chequebook or debit card that are linked to your account

If you've got money saved up that you probably won't need to use in the near future, you might want to consider a savings account which can often pay higher rates of interest. NatWest savings accounts

Current accounts from NatWest

Debit card

With most current accounts you’ll also get a debit card and PIN number. Only you should know your PIN - this stops other people using your card and keeps your money safe.

You can use your debit card and PIN to withdraw your cash from a cash machine, up to a daily limit set by your bank.

Using a NatWest Visa Debit card is an easy and convenient way of paying for goods and services wherever you see the Visa logo.

You can also use your card worldwide to pay for goods and services and withdraw cash, just look out for the Visa logo shown on your card.

Your card is accepted at over 29 million retailers and 1 million cash machines worldwide. You also benefit from purchase protection when using your debit card to pay for goods and services.

Overdraft

You might be able to set up an overdraft for your current account. An overdraft is a type of credit. It lets you spend more money than you have in your account at a particular time, up to a set amount, known as an overdraft limit.

An overdraft can be a useful short-term solution if you just need a buffer for occasional use, or for a short period of time. You usually have to pay interest and a fee for using your overdraft though, so make sure you understand the costs.

Make sure you receive authorisation from your bank before using an overdraft to avoid unnecessary fees and charges.

NatWest current account customers can register for text alerts to be notified when your balance reaches a limit that you select to help you stay in control of your finances.

Basic account

A basic account is similar to a current account but you don't get an overdraft or chequebook - you might still get a debit card though. A basic account is easy to run, and might suit you if you just need somewhere safe to keep your cash, with access to it when you need it. NatWest Basic Account.

Student account

A student account is a type of current account designed for those in higher education. You'll usually get a debit card, and you might have a fee-free overdraft facility, subject to approval. Banks often offer other benefits too, such as free gadget insurance however check that the account meets your needs first and foremost rather than just going for the best freebies. NatWest Student Account.

Choosing an account

These are the main types of account for day-to-day banking, but the specific accounts that banks and building societies offer all differ a bit. A bank will be able to explain the options and help you find the account that's best for you.

See the range of current accounts from NatWest