Types of bank accounts

A bank account helps you to manage your day-to-day banking.  Not only is it a safe place to keep your money, it also helps you to budget

By putting your money into a bank account, you won’t be tempted to spend it - like you would if you kept it under the mattress! There are different types of bank accounts to choose from, including:

  • Transaction accounts, which give you easy access to your money for your day-to-day banking and help keep your cash secure.
  • Savings accounts, which allow you to save money and earn interest on your savings. 

A bank account will keep your money safe and also help your money grow.  Talking to your bank about what features and benefits the different accounts offer will help you decide on the account that’s best for you.