All current accounts have the same basic abilities - letting you deposit and withdraw money as well as make and receive payments using Direct Debits and standing orders. However - there are a few different types designed for specialist purposes. The 4 main ones are: Standard current accounts - these come with overdraft facilities and potentially other features and rewards Basic current accounts - free, open to anyone no matter their credit score, no overdrafts Joint current accounts - where more than one person can withdraw cash Packaged current accounts - this is where you pay a monthly fee in return for included services such as travel insurance, breakdown cover and the like