Busy. Please wait.

show password
Forgot Password?

Don't have an account?  Sign up 

Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
We do not share your email address with others. It is only used to allow you to reset your password. For details read our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
Didn't know it?
click below
Knew it?
click below
Don't know (0)
Remaining cards (0)
Know (0)
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Current Accounts

Details on Current Accounts

Current Account A type of account offered by banks and building societies for frequent use
Standard Current Account The most common account for individuals assuming they have an OK credit rating
Features of a Standard Current Account (1)Can set up direct debits and standing orders (2) Issued with a cheque book and debit card (3)Can pay cash in e.g. wages can be paid directly to the account
Packaged/Premium Account Offer the same facilities as a standard account but bundled with an additional “package of services” e.g. free insurance/Breakdown cover
Basic Current Account Offers only some of the features of a standard current account to those with a low credit rating who may otherwise struggle to open an account
Student Account A current account designed to meet the specific needs of students
Features of a Student Account (1)Process to pay university tuition fees (2)Standing order for accommodation (3)Limited overdraft facilities (4) Incentives to join that particular bank
Advantages of Standard Current Account Widely available /Overdraft facility/Range of services
Disadvantages of Standard Current Account Limited additional benefits Charges on overdraft, bounced cheques etc. can be high
Advantages of Premium Account Range of services Additional benefits Personal finance can be controlled more easily e.g. insurance is included which saves time on shopping around
Disadvantages of Premium Account Often charge additional fees Generic rather than tailored to individual needs e.g. travel insurance may be of no added benefit
Advantages of Basic Account An opening account for those who may otherwise struggle to be accepted by a financial institution
Disadvantages of Basic Account Limited services/May attach a stigma
Created by: durquhart1



Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!

"Know" box contains:
Time elapsed:
restart all cards