statement of profit or loss format One of the initial requirements is going to be that you are a UK resident and with respect to the kind of bank-account you are planning to open, you might need to be over 18 years. However, in case you are under this age you might find there are additional facilities available which might be designed designed for your needs. In any case, most providers can have a number of options you might want to look at prior to deciding over a final product. Historical costs differ from current values That does not stop Mr Draghi from warning that inflation is still being affected by a sluggish wage growth, which is now much slower than the "post-recession recovery". The five-year average interest rate is also gradually rising, now more than 2 percentage points for the first time since July 2016.