What is a savings account?

What is a savings account?

Ian Green (Director) gives expert video advice on: Do building societies offer more interest?; How do I know I am getting the best deal?; What is a savings bonus? and more...

A savings account is a home for your money. It's usually differentiated from your current account. A current account tends to be where you do your day to day banking or spending, whereas a savings account is where you would put money for a rainy day, or emergencies.