The current account is probably the simplest and the most most used banking instrument and of which we are not aware in our daily lives. It is the account where one receives the salary or pension, the account from which one makes any sort of payments and the account from where we withdraw money at ATMs. But what is so specific about this type of account and what made it so popular?
Receive money and pay for your everyday purchases
Your money are immediately available for your regular purchases, or for the direct debits you have with your bank for utilities, rent, or other purchases on credit. Since the current account can be associated with a debit card, you can use it to pay with the card in the shops or withdraw money at the ATM.
Have your finance in security against possible consumerism behavior
Given its simplicity and its orientation essentially towards (regular) payments, in general, the current account does not allow you to go overdraft. This will prevent potential excessive consumerism behavior of yours to harm your finances. Note also that the current account has limited interest, compared to a saving account.
Let your kids make payments without risking overdrafts
Do you want your kids to operate payments for their regular purchases (i.e. books, sweets, toys) without risking cumbersome overdrafts? Well, the current account, associated to a debit card, is the solution you are looking for. Not only your kids will have access to a simple way of payment, but you will also know that your finances are not in danger, because of risky purchases.
Stay safe from potential misuse of your stolen payment card
Since the current account does not allow overdraft (in general) you are protected if your payment card is stolen and misused. This is to say, such an account can limit the damages. Yet, the banks and the payments systems (i.e. Visa, Mastercard, Amex) have also implemented various security layers for your payments, but the first layer of protection can start with you, by letting only small amount of money on the current account associated with payment cards.