Your money questions answered

Emma Simon presents a no-nonsense guide to your money questions…

What should I look for in a current account?

Is Internet banking safe ?

What sort of savings account do I need ?

When should I start saving for my pension ?

When is the best time to take out an Isa ?

Should I invest in the stock market ?

What should I look for in a current account?
This is one of the most basic financial products, yet few people shop around for the best deal. The majority of people in the UK have a current account with one of the big four - Barclays, HSBC, NatWest or Lloyds TSB - yet these banks charge far higher overdraft rates and pay a lot less interest on credit balances than many of their competitors.

If you regularly go overdrawn you need to pick a bank account with a low overdraft rate. If you manage to stay in the black most months, seek out an account that pays a reasonable rate of interest. Look at the bank accounts from Halifax, Smile, First Direct, Alliance &Leicester and Abbey National, the main competitors to the big four clearing banks.

Also look at how you conduct your banking. Do you regularly use a branch or are you happy banking over the phone or by Internet? Pick a bank account that has services to suit you. If you want face-to-face contact, make sure you bank with a provider who has a local branch.