A current account is an account which is used for everyday banking. These particular accounts however have overdrafts, and they allow you to deposit money in a bank and withdraw it when required. If you do go overdrawn however there may be a charge to your account.

You can use online banking to manage your moeny and it can be deposited or withdrawn from an account in the bank or cash machine and you can also transfer money online. An account’s overdraft is a service which allows you to ‘borrow’ money when there is none in your account. This borrowing is not as simple as it sounds, as charges and costs are involved whenever the service is used.

We have looked at all the banks and building societies and provided you with the top five current accounts with overdrafts relating to E.A.R.

It is important that you look at the terms and conditions of your overdraft current account to make sure you are happy with your decision. The equivalent annual rate is quoted when money is borrowed, and it lets you know how much it will cost you if you remain overdrawn for a whole year meaning that a lower EAR means that taking out an overdraft will not cost as much in the long term.
interest over the year