How To Earn More Money On Your Current Account & Pay Lower Charges When You Are Overdrawn

If you are banking with one of the big four UK banks - Barclays, Natwest, Lloyds TSB or HSBC then you will be earning very little interest on your hard earned cash that is sitting in your current account. Typically you will be earning just 0.1 % interest through these banks. If you shop around, you will find that you could be earning between 2% to 5% which is up to 50 times more interest! Some good rates can be found at Alliance & Leicester, First Direct, Abbey National, Cahoot, Intelligent Finance and Halifax. If you find that you go overdrawn quite a lot of the time, then rather than looking for the highest interest rate, you should concentrate on finding the lowest overdraft rate. Again if you shop around, you can find much better overdraft interest rates sometimes less than half of what you might currently be paying. Also some banks or building societies will even give you a 0% overdraft for switching to them, now it can't get any better than that! Also watch out for special deals that some banks do from time to time where they will give you anywhere between