Managed Bank Accounts in The UK

Bank accounts around the world: managed bank accounts in the UK

There are so many different types of bank account across the world nowadays. Here, we're going to have a look at one type of account in particular - the managed bank account… and how it might work in the UK.

There are several ways a managed bank account could work, so we'll look at just one possible way in this guide.

Managed banking

A lot of people choose a managed bank account because it helps them organise their finances and gain much better control over the money they're spending.

If you're finding it difficult to keep track of your monthly bills, or you're finding it hard to keep track of where the rest of your money is heading, you may know all too well that it's easy to fall behind and end up with bank charges for bounced payments and fees for unauthorised overdraft usage.

With a managed bank account, you won't need to worry about unexpected bank charges… but it's important to check the terms and conditions of your account first to see exactly how it works. Some accounts may charge an initial set-up fee and a monthly fee, so knowing where you stand before opening an account is vital.

How might a managed bank account work?

There are, as mentioned, several ways a managed bank account could work. One way involves a real person handling a bank account holder's money for them.

Once wages are paid into an individual's account, the company will set aside the money the individual needs to cover their monthly essential costs (bills, for example, and rent/mortgage payments).

The money left after doing this is then transferred to another account (one that is run alongside the main account), to be spent on whatever the account holder likes. They can, of course, spend this money without worrying about covering their essential costs (as they'll already have been taken care of).

So, that's just one of the ways a managed bank account could work. To find out more about this type of bank account, you could take a look at this bank account FAQ page.

Careers page of a company in the UK who offer managed bank accounts.

Amazing Cover Letters - Would It Work For I-Bankers?

Have you notice one of the career tools I recommend in this blog – The Amazing Cover Letters? Just want to share a little statistics with you.

To be honest upfront, I’m an affiliate of Jimmy Sweeney’s Amazing Cover Letter creator. I’m making a decent income from my headhunting job, why am I selling this software?

This blog is aim to help young graduates to go into one of the toughest job markets - investment banking. I-banking is really tough and candidates are facing keen competitions. While some readers ask me to write cover letters for them, I refer them to Jimmy’s software for two reasons. One I don’t have the time to do it. Two Jimmy’s software program does the job of a professional cover letter writer but at a much lower fee. For many candidates, this did sound like a dream come true!

Amazing Cover Letter Creator has an extremely high product rating. If you ever do any research over the internet, you must aware of this. But the statistics I want to share with you is its low refund rate of 0.19% (meaning that out of every 500 people who purchase this product, 1 returns it, and 499 keep it!). I have been selling this product for four years and this close-to-zero refund rate makes me feel confident that this is a product worth my recommendation. So what is Amazing Cover Letter all about? You can visit its official website or continue reading my introduction.

The creator and author of the Amazing Cover Letter Creator is Jimmy Sweeney. Jimmy is a professional copywriter and the President and CEO of a California based marketing company. Jimmy decided to put some of his copywriting skills to work in the job seekers market by writing cover letters for prospective employees. The end result of his experiment was the job seekers got significantly more phone calls as a result of Jimmy's cover letters. What’s more interesting is that these cover letters work across all industries and level of jobs. So whether you are looking for an ibanking job or a teaching role, his letters work equally well.

The program is very easy to use. Once you downloaded it to your computer, the first thing you do is to open it and choose the kind of cover letter you want. After this you have to choose the size of the applicant job pool and here you can choose among large, small or medium.

Then you would be asked to say whether or not you have experience in the field you are applying for, after you have done this, the program automatically chooses a cover letter template for you which you can then personalize or customize using most common word processing programs like Microsoft word.

This software is extremely powerful in a way that it generates very well-worded cover letters. The only challenging part is to make modifications to make the letter specific for the job you are looking to apply to. However, the software has a section where you can see samples of each section to give you ideas on how to modify the letter for your specific situation.

The cost of $39.95 is only a fraction of what you would pay a professional cover letter writer and the quality of letter that the software generates is on par with what a professional would write for you. You simply aren't going to find a better bargain elsewhere.

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• Top 3 Award-Winning Cover Letter Templates
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Visit Jimmy Sweeney’s Amazing Cover Letters Official Website

Investment Banking Resumes - Amazing Cover Letters Review