Services offered by current accounts

o       Bill payment facilities
o       Online monthly statements,
o       Telephone and Internet banking,
o       Direct Debit and standing orders
o       Account aggregator, or wrap, services
o       Personal financial Manager
o       International banking

• Bill payment services are arrangements that you can make with your bank, which arrange for payments to be made on certain dates. The advantage of this is that you don’t need to worry about forgetting paying bills, because it is done for you automatically. Bill Payment services are similar to direct debits, so if you already have a direct debit then this facility is unnecessary.
• Online monthly statements are a useful way of looking at the inflow and outflow of money in your account. Some accounts will show you statements which go back several months, Lloyds TSB allows some account holders to view statements going back as far as 2002. Most accounts send copies of statements in the post, but some charge for repeat copies of statements. With other accounts, as is the case with online banks, this service is free of charge.
• Telephone and internet banking allows you to transfer money from one account to another, check your balance and statements. These services are often available after-hours, when branches would be shut.
• Direct debit and standing orders work similar to the way that bill payment services do. They are pre-arranged transfers of money from one account to another, and can take place on a monthly or quarterly basis. Direct debits are used to pay for monthly purchases, such as rent payments. The principle of standing orders work in much the same way as direct debits do.
• Aggregate, or wrap, accounts allow the consumer to view financial details from  multiple accounts on a single web page. This is useful to compare finances and transfer money. Personal financial managers are provided to customers of some fee-paying accounts. They are often branch-based managers who you can meet with in person to discuss and plan your finances. International banking caters to people who either want to bank abroad or use multiple currencies. Some accounts offer to set up off-shore banking for their customers, and provide international credit, charge and debit cards in different currencies. With some Premium accounts independent financial managers are provided to help you protect and grow your wealth offshore.