Current Accounts for the Unemployed

Compare Current Account Deals

If you are unemployed and you want to open a current account you may find that you are limited as to the type of account you are legally allowed to open. To open some types of current account you are required to provide a regular income - usually on a monthly basis at a minimum specified level. It is unlikely that you will be able to open a current account with bonus features, such as: 

  • Rewards
  • Interest-free overdrafts
  • High interest rates


You will be able to open a standard current account and receive a debit card, with telephone and online banking services. You will also be able to set up direct debits and standing orders if you need to. If you wish to use your debit card while abroad you should specifically ask for a VISA type card, rather than SOLO, Maestro or Cirrus.


Even though your options may be more limited, comparing different current account deals is still the best way to make sure your needs are adequately catered for.
 AccountInterest (AER)Overdraft RateFunding Required*Fee pmFeaturesApply
Up to 3%0.0%£500 pm£2Earn cashback on household bills. 3% AER on balances over £3000 More Info >
0.00%Daily fees on agreed overdrafts£0.00Nil£5 cashback every month you deposit £1,000. More Info >
0.0%19.30%£0.00 NilTelephone and Online Banking - Simply, free and easy to useMore Info >
0.0%18.30%£300.00£5pmBenefits include mobile phone insurance, cardholder protection and much more for £6.50 per month.More Info >
0.0%18.30%£300.00£15Benefits include Travel Insurance, mobile phone insurance, breakdown cover and much more for £15 per month.More Info >
0.0%19.90 %£500NilOverdraft, award-winning online banking, access to 4% savings accountMore Info >
0%19.89%£0.00NilA flexible current account for day-to-day banking. Overdraft (subject to eligibility) - extra breathing space for your finances. Over 18s only. More Info >
0.0%19.49%£100.00 £12.95For the third year running, the independent financial research company Defaqto gave Advantage Gold their 5 Star rating for product features, benefits and charges (February 2011).More Info >
£0.0019.24%£100.00£12.95Mobile phone insurance - includes iPhones; Green Flag car breakdown cover - even on your driveway; Annual world wide travel insurance - includes winter sports.More Info >
0%19.89%£0.00NilA flexible current account for day-to-day banking. Overdraft (subject to eligibility) - extra breathing space for your finances. Over 18s only. More Info >
0%18.9%£700 per monthNilPreferential rates on savings and loans. Free European travel insurance, discounts on home insurance. No monthly fee. (Pay in a minimum of £750 per month to get the benefits.)More Info >

*Some current accounts require customers to pay in a minimum amount each month.

**See Terms and Conditions

Jobseekers’ Allowance

If you are claiming or have applied for jobseekers’ allowance you will need to open a current account to receive your benefits. You must, however, prove to the job centre that you are looking for employment; else you may lose your entitlement to jobseekers’ allowance.


Opening a current account may well be the first step you make towards finding employment. It is important to recognise the importance in having a current account because your prospective employer may require your bank details to pay you.

Compare Current Accounts


You should always compare a range of current accounts from a variety of banks and building societies before you open any current account. It is wise to be sure of your choice prior to agreeing to a bank or building society’s terms and conditions. If you do change your mind, it is easy to switch but this process can take up to ten days.


You should use our comparison tables to find a banking organisation that offers you the type of account that meets your personal needs.

Current Accounts

Popular Current Account Searches