These types of accounts are the basic accounts that can be purchased from the High Street or online. They provide little return for your money if any at all (depends on provider & account type).

Bank Accounts

Most people utilise Bank Accounts for their daily lifestyle such as paying the mortgage, paying direct debits and holding immediate monies for the easy access through a cash point method. If you have any savings in a Bank Account then you need to speak with one of our local consultants to discuss making the most of your monies as your savings are potentially not meeting pace with inflation and any interest will be subject to tax.

Building Society Accounts

These accounts provide a basic type of savings for peoples immediate rainy day funds etc. They provide easy access and have little criteria to enable you to open an account. These types of accounts pay varying interest and usually the interest fluctuates according to the Bank of England base rate. The returns are considered to be low due to the NO RISK attitude, what interest is earned is then taxed according to your individual tax circumstances. They provide a vital part of investement planning due to easy accessability however large sums of monies invested in these type of accounts could harm your tax situation and the potential growth you are potentially missing out from.

Talk to us
To speak to one of our consultants you can either call us on 01793 750101 or submit an enquiry form and we will contact you shortly.