What is another advantage to the consumer of having a basic current account?

Having a basic current account provides consumers with the ability to pay bills, which is a fundamental aspect of managing personal finances. This account type allows customers to set up direct debits and standing orders, ensuring their payments for utilities, subscriptions, and other services are made on time and automatically. This convenience helps prevent late fees and disruptions in services, contributing to better financial management.

While earning cashback on purchases, accessing credit facilities, and investment opportunities might sound appealing, these features are typically associated with more advanced types of accounts or financial products, and are not generally provided by a basic current account. This makes the ability to pay bills a key and practical advantage that reflects the essential purpose of such accounts in day-to-day financial transactions.