It’s true that many high street banks tend to offer rubbish current accounts to use and we don’t seem to mind. Although you can shop around and get an online banking current account that may offer a better rate of interest and service. We all look around for a better car insurance policy or when we are remortgaging. So why do we not look around for a better bank that offers a good current account? We all tend to always stay with the same bank.

If you where to switch your current account to another provider like an online bank account you could save around £80. Some of the accounts pay so little in interest to you, a measly 0.1% interest on some accounts.

So how can you get more out of a current account?

Always shop around for a higher interest rate and look out for overdraft facilities and bank charges. Check to see what they charge on overdraft charges, because they don’t care if you are in the red. Check the fees on cheques and standing order bounces.

When traveling abroad some banks will charge you a fee for foreign exchange and could cost you up to 3% of your purchase. Withdrawing money from an ATM machine can cost you up to £2.50 for each transaction.

Some current account include extra benefits such as travel insurance, breakdown cover, discounted rates off hotels, and vouchers. Benefits package accounts will usually require a monthly payment; some cost around £12 per month.