Debt Advice Help

Is having two Current Accounts in the UK Legit?

The current account deals with the security of your money and helps you in managing all the finances. If you are having a current account, then the payments process will become much easier. The types of payments are direct debit, standing orders and many more. In addition to that, other business organizations can also pay you comfortably. 

Now, the most common questions that people of the United Kingdom have — Can they have two bank accounts? You will get to know the answer very soon. Before that, there are also some other things that you need to take into consideration and learn well enough. 

What is a Current Account and its Purpose?

To make progress in business and for a more effective and smooth transaction, rush to your bank’s nearby branch and make all the necessary improvements. There are more than one purposes that you must know regarding the current account. 


When you are having a fixed job, then obviously the company will never pay you the cash in hand. They will transfer your salary or wages. And, if you have a current account, your company will be able to pay the money quickly. In most cases, you might not be able to get a good job, if you don’t have a current account. 


Spending money directly from the current account is easy. The process is simple and straightforward. All the features of the current account help in the expenditure and also deposition of money. 

Automatic Payments 

The process of automatic payments is generally known as direct debits. This happens when you are busy, but still have some payments due. You just have to use some of the sophisticated features of the current account to set the date, time, payee name, account number, and other vital information. 

The Debit Cards

The debit cards linked with the current accounts help you to pay faster than ever. Just make sure that the payee and your debit card have the same logo of the same company, it can be Visa, Mastercard or something else. You must not mix up the concept of debt with credit cards. 

The money you spend from the debit card doesn’t come in the form of credit. When you use the debit card, the money gets deducted from the current account. 

Can you have two Current Accounts?

Yes, absolutely. You can have as many current accounts as you want. Creating more than one current account in various banks has some monetary benefits. The rate of interest in the current account varies. After opening the current accounts in more than one bank, make sure that you receive all the necessary benefits and incentives properly. 

Want to find the Best Current Account Bank in the UK?

There are certain ways to find and select the best current account. And, as you get to know them you will also get the answer to the question, can you have two current accounts? On the other hand, you can also consider these ways as the facilities given by the banks. 

The Mobile Banking 

Dealing with all the transactions and facilities of a certain bank with the help of its official mobile application is generally known as mobile banking. It’s the ultimate digital approach to make things easier and faster. This type of service doesn’t require face-to-face interaction between you and the banking officials. 

Low Monthly Account Fees

In most of the banks of the United Kingdom, the monthly fees are very low. Sometimes, it is free, as long as you don’t do something which can lead to a negative balance in your current account. 

Setup the Current Account, Instantly

As everything is done digitally, the account setup will take just a few minutes. No matter what device or Operating System you use, you can set up the account and proceed with the steps from anywhere and anytime. After the setup process is over, you can transfer any amount to the newly created account. 


Current and savings, both these accounts deliver interest on the deposited money. Some of the banks offer their customers a good rate of interest at the end of the year. Check which bank provides the highest interest. 

Benefits of a Current Account 

The transactions are much faster than other accounts. You can track every transaction that is happening in the current account. In addition to that, can you have two current accounts? Then, it’s easy to grab two. Furthermore, switching between the two current accounts is also easy. 

Applying for the Current Account 

The application process of the current account is easy and simple. Gather all the necessary documents first. After that, fill-up the form, be it online or offline. If it’s online, then you can make a digital copy of the documents and send it along with the form. In the case of offline, make the photocopy of the necessary documents and send them to the bank. 

If you are having a previous current account and planning to move the remaining balance, then it’s easy indeed. The official banking application will do it for you, which will take a few minutes. The facility of switching between direct debits and standing order is easily available. Further, you can close the account by withdrawing the entire amount, all at once.

The Current Account Management

Managing any type of bank accounts is easy now. Due to the advancement of technology, online banking, mobile application banking, telephone banking, in-branch banking and others have emerged. That is why every banking facility will be available to you at your fingertips. 

Current and Savings Accounts: The Difference

You already know that the expenditure from the current account is easy and very much flexible. Comparing a current account to a savings account, you don’t have to deposit money on a regular basis in the current account. 

Any mortgage deposits are not at all required in the current account, but in the savings account, it is required in certain circumstances. If you are having more than one account in the same bank, then it’s better to have an equal combination of the same number of savings and current accounts. 

Things to Remember 

So, can you have two current accounts? Yes, but even if it is flexible to use, it has several flaws. Once you experience the unarranged overdraft in your current account, your credit rating will face a negative impact. You might have to give some additional charges regarding this matter. 

On the other hand, applying for the current account also has some additional effects on your credit ratings. When you are confident that no matter how much credit ratings get affected, you can easily recover it, then only apply for a current account. Furthermore, check the eligibility criteria and the desired terms and conditions. 

You have to give some potential charges in case you are performing transactions outside the UK. If you are experiencing difficulties with the current account and its financial structure, then never hesitate to contact the bank. The expert team of the bank is always ready to provide you with solutions regarding transaction issues, unable to access accounts, electronic card problems and many more. 


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