With the economy as it is you’ll want to get as much as you can from your bank so below are a few top tips for doing just that.

Find a Good Current Account
The majority of current accounts are very similar in features however there is the odd one that stands out from the crowd. Firstly look for one that offers a decent rate of interest when you’re in credit. Most current accounts only pay around 0.1-0.5% on credit balances however a small number pay up to 2.5% and these are the ones to look at initially. Don’t fall into the trap of being loyal to your bank – you should use the bank that offers the most.

You might also want to look at the benefits that come with each current account. If you’re always overdrawn by the end of the month then you’ll want to find an account with an interest free overdraft up to a specified limit. You’ll probably also want internet banking facilities and anything you’re giving you for free.

Find a Good Savings Account
Most banks offer a range of savings accounts and it’s important to choose the right one for you. The accounts with the best rates of interest are often ISAs however there may be better rates available if you agree to leave your money in the account for a set period of time or if you agree to give notice before withdrawing any. If you don’t need instant access to your money then these accounts are better but you’ll probably have to ask for details – not many banks mention them as standard.

Once you have a savings account up and running make sure you put all of your spare cash into it, rather than leaving it to sit in your current account with very low interest rates. Getting the best from your bank means making as much in interest as you can so set up a standing order for an amount that you know you’ll have left at the end of the month and move it to the account that pays the most.

Use their 0% Interest Credit Card if Offered
Most banks are also issuers of credit cards and if you are offered a 0% interest card then take advantage of it. You can transfer other credit card balances to it and pay no interest for the length of the interest free period or alternatively you can pay off an outstanding overdraft and cut out the interest charges you’re paying there. Either way use the credit card offer to reduce interest or charges that you’re currently paying so you can pay off more of the money you owe.

In general banks are just like people – if you’re good to them and you don’t break their rules then they are good to you. To get the most out of your bank you need to respect what they’re offering – take advantage of any generosities by all means but remember to respect them as well.