One of the main appeals of current accounts is the fact that there is often an overdraft facility available. However, this is not always a free service. If you are looking for a current account with no overdraft fee, it would be wise to compare a number of different current accounts.
Due to the highly competitive market for current accounts, there are a number of banks and building societies that may have introductory deals when opening a new current account or switching an existing current account. Such deals could include current accounts with no overdraft fee for a set period.
In addition, certain premium current accounts offered by banks and building societies could include the option to use a no fee overdraft within set parameters e.g. no fee up to £300. However, you may have to pay a monthly fee to hold a premium current account, so you may wish to weigh up the benefits of holding one of these.
Student and graduate current accounts tend to offer a no fee overdraft up to set limit, so if you are eligible for one of these, you may wish to compare the amounts of overdraft available on each account to see which might be the most suited to you.