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What is a current account?
A current account is a bank account designed to manage your income and day-to-day spending. You can use a current account for:
- paying your bills
- receiving your salary, benefits, pension and other payments
- setting up direct debits and/or standing orders to allow regular payments
- paying for items with a debit card
- withdrawing cash from a cash machine.
With a current account, you may also be able to set up telephone, online and mobile banking to easily check your balance, see your transactions, transfer money, and apply for an arranged overdraft.
Let’s look at the details
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Who offers current accounts?
Current accounts are offered by:
- high-street and online banks
- building societies
- credit unions.
They’re also sometimes offered by smaller companies that specialise in current accounts for those with poor credit histories.
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What do I need to open a current account?
You can usually open a current account on a bank’s website, over the phone or at a local branch. You’ll need proof of ID and address before your account is opened.
Commonly accepted documents are:
- passport (UK issued)
- driving licence (UK issued)
- bank statement
- utility bills
- biometric residence permit card.
You may also need to give personal information and contact details, as well as other information such as your income and expenditure.
To open a student bank account, you may need to provide proof of the qualifying course being studied, such as an acceptance letter or UCAS code.
At Lloyds Bank, in most cases you'll only need to produce one of the following:
- a current UK photo driving licence
- passport from the United Kingdom
- biometric residence permit card (accepted for account opening only).
If you are an existing customer, you can use your existing bank card with chip and PIN to verify your identity.
If you can't provide one of the items above, you'll need to bring two documents. You can find a full list of acceptable documents on our proof of identity webpage.
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Do I have to be a British citizen to open a current account?
You must be a UK resident to open an account with most UK banks.
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How do I switch current accounts?
Switching current accounts is easy with the Current Account Switch Service (CASS). This service guarantees the switch is completed within seven days. Your old bank gets in touch with your new one and any direct debits and standing orders gets switched over, for free. Any payments made to your old account will also automatically be redirected to your new account.
Find out how you can switch to Lloyds Bank
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How many current accounts can I have?
There is usually no limit to the number of providers you can have a current account with. There may be a limit to the number of accounts you can have with a single provider, so it’s best to check any terms and conditions before you apply.
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Do current accounts affect your credit score?
Just having a current account won’t have a major impact on your credit score. You might find your credit score goes down if you open accounts often, but this should only be temporary.
The way you manage your money may influence your credit score. If you miss bill payments or use an unarranged overdraft, then your score could go down.
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Current account support
Learn how to get the most out of your Lloyds Bank current account with our support pages.
Switch to us
Switching your current account to Lloyds Bank is simple, reliable and stress-free with the Current Account Switch Service.