Banks and building societies offer a safe place to keep your money. In general, banks offer you quick access to your money whereas building societies pay a higher rate of interest on money you deposit with them for longer. You can choose whether to bank in person at a branch or by internet.
Accessing your money
There are two main types of bank account; a basic account and a current account. With a basic account you may have a cash card that allows you to make withdrawals from a cash machine but you will not be issued with a cheque book. You can also only withdraw money if you are in credit. With a current account you will have a cheque book and a debit card that guarantees your cheques, and allows you to take money out of your account at a bank or a cash machine. You can also make payments directly with it in shops, over the phone or on the internet. You will be able to set up direct debits and standing orders and possibly arrange an overdraft.
Building societies will give you a pass book. Every time you take money out or put it into your account it will be entered into your pass book, this makes it easy to keep track of your money. Depending on the type of account, they may also give you a debit card.
Follow the links on this page for full details of the type of accounts available and to see what suits you best.