Do you regularly send money to Uganda or your home country? You definitely need a current account in a bank in the United Kingdom if you want to make your life easy and comfortable when it comes to making payments and shopping etc.
Here are some of the benefits of having a current account in any bank in the United Kingdom as an expatriate.
Everyday needs: – In the West, every employer wants to pay wages almost on a daily basis and directly into your bank account. And they like to transfer your wages preferably into a current account. A current account makes it easy for you to access cash to fulfill your immediate financial needs besides making payments convenient.
Easy payments: – With a current account, you can make regular payments easily and conveniently anywhere, anytime. Needless to say, that you will get a debit card as soon as you open a current account. You can use this debit card to make payments in person, online, or over the phone money transfer to Uganda and elsewhere.
Mobile app: – A mobile app for a current account in a bank is far easier and convenient to have access to. And as soon as you get the app, you will have ease and comfort as far as making day-to-day payments is concerned.
Easy access to cash: – In this day and age, most of the banks have a widely spread network of ATMs (loosely defined as cash machines) which you can easily use to withdraw cash from your current bank account up to a specific amount limit set for 24 hours which you cannot exceed. This limit differs from bank to bank and can be increased by the concerned banks on personalized requests only after meeting the pre-determined terms and conditions.
Control your money: – With current accounts opened in different banks across the United Kingdom as an expatriate, you will get the benefits of having access to mobile apps and message or email alerts about your transactions. As soon as you receive money from an outside source or make a payment on your debit card or make a withdrawal, you will get a message alert telling you about the latest financial moves you have made in your account.
This will help you monitor your money better and keep a closer look at your account and offline and online money transfer to Uganda and other countries. In addition, after a specified time period, as is may be determined and agreed upon by you and the bank, you will also be receiving your bank statements which will make it easier for you to keep track of your money transfer to Uganda..
Protect and secure your money: – Current bank accounts in the United Kingdom are protected under the Financial Services Compensation Scheme (FSCS). In case if something happens to your bank, you will be covered under this scheme up to a certain amount. Details of this can be ascertained from the official site of FSCS.
Credit history: – With a current account, you will be able to develop your credit history, which will help you if you wish to borrow somewhere in the future. If you make timely payments and do not overdraw without an arranged overdraft in place (or do not exceed your arranged overdraft limit), lenders will learn that you can manage your money well.
Conclusion: – From all of the above, we can safely conclude that a current account in the UK is the best option for expatriates. Even if they wish to send money to Uganda online, it can be their best option. ACE services can be your best guide in this regard. Contact ACE now!