An instant access account is another type of UK savings account.
It is similar to a current account in that you have instant access to your money. However it differs slightly in that a current account would be used for your daily cash flow needs, whereas instant access accounts would be more of a savings account facility, so you would not withdraw cash on a daily basis.
Many banks and financial institutions offer a higher interest rate for a larger balance, so the best way to use your instant access savings account is to only withdraw money when you really need to.
To benefit from a higher interest rate for your savings you might want to consider a notice account where, rather than having instant access to your savings, you would have to give a certain period of notice to make a withdrawal.
Before committing yourself to an instant access savings account it is a good idea to compare some of the UK savings options that are available.
Please feel free to click on the links below for further instant access savings account information.
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