Current accounts are something that most of us take for granted despite the fact we probably use one every day. Life would in fact be very different if you didn't have a trusty current account to see you safely through day-to-day life.

First of all a current account is necessary to pay for most things these days. Cash no longer rules the world of currency; debit cards, cheques and bank transfers are common fare and a current account is necessary for all these methods of payment. The type of current accounts available vary depending on the bank you use and the exact account you opt for but as a general rule a current account comes with a cash/debit card which allows you to withdraw money from a cash machine as well as pay for goods using the chip and pin service.

Some accounts will also see you issued with a cheque book which can also be a handy means of settling your bills. To spend you must of course earn and most employers will issue payments using BACS so a current account is necessary to receive your salary before you can then plan how to spend your hard earned cash.

Having a current account also enables you to transfer money to other accounts so you can control your finances easily and effectively. Direct debits can be set up so you can pay bills, such as council tax or electricity and gas, each month without ever having to step foot in a bank. Direct debit facilities also ensure your bills are settled on time very month so you need never worry about paying a bill late again. Standing orders are another facility available on current accounts which allow you to make regular payments, such as making deposits into a savings account or paying rent when leasing a property.

Enabling you to get more for your money may not be something that is commonly associated with current accounts but if you shop carefully you really can make your money go further. Competitive rates mean you can earn more interest on your balance and depending on your account provider, you may also find that as a current bank account customer you could gain access to preferential rates on other products and services offered by your provider as well

Borrowing money is another factor not generally connected to current accounts but competitive interest rates available for overdrafts often mean you can get more for your money. Depending on the current bank account and introductory offers available you may be able to benefit from interest free overdrafts for a certain time period, such as one year so do your research before opening an account and you could be reaping the rewards.

This article has been written for information and interest purposes only. The information contained within this article is the opinion of the author only, and should not be construed as advice or used to make financial decisions. Expert financial advice should always be sought and any links contained within this article are included for information purposes only.