Understand your account

Cards
There are lots of cards around- here's what they all do.

What is a cheque guarantee card?
If you're paying for things with a cheque, you'll probably be asked for a cheque guarantee card. This means the bank will normally pay your cheque up to the amount guaranteed - you'll find this amount printed on your card.

What is a cash card?
This lets you take out money from a cash machine. To use it, you'll need a Personal Identification Number (or PIN) which your bank sends you. Each time you use your card at a cash machine, you'll need to key in this number, but make sure you never write it down.

What is a debit card?
You can use a debit card to buy goods and services. A debit card is very much like a cheque, unlike a credit card, you pay for goods straight away and the money comes out of your account quickly. Most debit cards have a SWITCH/DELTA/SOLO/ELECTRON symbol on them.

What is a combined cheque guarantee/debit card/cash card?
You can use this card for two things: to guarantee the payment of cheques, and to pay for goods and services. It normally has a SWITCH/DELTA/SOLO/ELECTRON symbol on it if it's a debit card. You can often get money from cash machines with this card, by keying in a Personal Identification Number (or PIN).

What's a credit card?
A credit card lets you buy goods and services up to a set limit before you pay for them. You usually have up to 56 days to pay your bill. If you clear your balance in full each month, you don't pay any interest on the money you have spent. But, if you don't, you'll normally have to pay at least 3-5% of the balance, and interest will be charged on the outstanding balance. Some cards charge you an annual fee.

What is a cash machine?
These can be called different names, but they all do the same job, they let you get cash out at any time. All you need is your cash card and your Personal Identification Number (or PIN).

If the cash machine has the same symbol on it as on your card, like CIRRUS/MAESTRO/LINK, you should be able to use it.

If you use a cash machine in the UK, which has a LINK symbol on it, you don't normally get charged, if you have money in your account. If there is a charge you'll be told before you take the money out.

But beware of cash machines which are in unfamiliar places, as you'll pay a fee of around £1.25-£1.50 each time you use them. Again you'll be told upfront so you can cancel the cash withdrawal.