Frist Account

I WANT my first account. The good news is that there is more choice than ever. Financial researcher Moneyfacts says there are more than three dozen providers all looking for business. They range from traditional banks and building societies to internet brands like Smile and Intelligent Finance to overseas firms like Laiki Bank. Several websites can take you through the selection procedure to find the account that suits you the best. Take a look at moneysupermarket.com for one of the most popular comparison services. You can also get full account details of all the big providers at moneyfacts.co.uk. When you are choosing an account make sure you pay most attention to the fee structures and the amount of interest you get when you are in credit. The best accounts are still fee-free, offer reasonable terms on overdrafts and decent interest when you are in the black. Students are the one group who are often wooed with other factors, like rail cards and music vouchers. Experts warn against being blinded by the freebies – these should only be the icing on the cake if the underlying account itself is up to scratch.