Features to consider when selecting a current account
When selecting the best current account, you need to consider the following features to ensure that the account meets the needs of your business and minimizes the impact on your cash flow. Current accounts are designed to be flexible, with providers offering a wide range of services and features. These include: – – – – – –
Fees and charges – You need to understand how much each account will cost you in terms of fees and charges. These will vary from account to account, depending on the services and features that the account provides. This is especially important if you are just starting out and don’t have a consistent flow of business. In this case, you will want to select an account with the lowest fees and charges. However, as your business grows and your transaction volume increases, you will be able to upgrade to a more premium account with a higher interest rate.
Services – While the features discussed above are important, you should also be aware of the services offered by each account. Depending on the type of account you choose, you may be able to receive free business banking advice, free business cheques, free business cards, and free cash machine withdrawals.
