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Is my bank account a current account or a savings account?

I don’t know – and I need to know when signing up for PayPal –
Please could you tell me how you find out whether your bank account’s a current account or a savings account?

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2 Responses to “Is my bank account a current account or a savings account?”

  1. Heidi said :

    A savings account will accrue interest a current (regular checking) will not unless you pay a monthly fee. It is probably a current account.

  2. Alan said :

    A current account is usually accompanied by a cheque book and cheque guarantee card and the bank will normally issue you with a pin number. A Current Account can be used to set up Bank Standing Orders and Direct Debits. A savings account usually only has a savings book which is updated every time you pay in or withdraw cash at the bank. You cannot set up direct debits from a savings account or standing orders except to pay money in to the account from another account. Current accounts all have 8 digits in the account number and a sort code which identifies the bank branch where your account is held. I hope this helps.


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