Latest Savings Commentary

Income is king

Oliver Roylance-Smith / 15 May 2012

Investing for income is always a popular investment theme, never more so than in recent months with income solutions ruling the roost over the ISA season for both the cash ISAs and investment ISAs. ... Read more

7% potential annual income, capital protected

Oliver Roylance-Smith / 10 May 2012

"The latest Fair Investment Income Deposit Plan offers capital protection plus the potential to earn 7% for each year the FTSE 100 remains between 4,500 and 7,000 points (yesterday’s clos... Read more

The savings dilemma and the rise of alternatives

Oliver Roylance-Smith / 01 May 2012

The economic landscape continues to create a real dilemma for savings and put a spotlight on the fixed rate bond. With yields on these lowering amid continued pressures on getting the most out of yo... Read more

Current Accounts Rewards

Latest Deals for Switching Your Account

Whether you are opening your first current account, or are looking to switch your existing current account, banks and building societies could be likely to offer you a range of attractive rewards when setting up your new current account. When opening a new current account, rewards may include the following:

Cash-back upon opening your current account
Overdrafts with low interest rates
High in-credit interest rates

A premium current account could offer the following rewards:

Travel insurance
Mobile phone and gadget insurance
Breakdown cover
Higher interest rates when in credit.

To help you compare current accounts, we have compiled the following comparison tables, which include details of a number of different current accounts and their rewards.

Latest Current Account Deals

	Account	Interest (AER)	Overdraft Rate	Funding Required*	Fee pm	Features	Apply
Santander	Santander 123 Current Account	Up to 3%	0.0%	£500 pm	£2	Earn cashback on household bills. 3% AER on balances over £3000	More Info >
Halifax	Rewards Current Account	0.00%	Daily fees on agreed overdrafts	£0.00	Nil	£5 cashback every month you deposit £1,000.	More Info >
Barclays	Barclays Bank Account	0.0%	19.30%	£0.00	Nil	Telephone and Online Banking - Simply, free and easy to use	More Info >
Barclays	Barclays Current Account Plus	0.0%	18.30%	£300.00	£5pm	Benefits include mobile phone insurance, cardholder protection and much more for £6.50 per month.	More Info >
Barclays	Barclays Additions Active	0.0%	18.30%	£300.00	£15	Benefits include Travel Insurance, mobile phone insurance, breakdown cover and much more for £15 per month.	More Info >
HSBC	HSBC Current Account	0.0%	19.90 %	£500	Nil	Overdraft, award-winning online banking, access to 4% savings account	More Info >
NatWest	Select Account	0%	19.89%	£0.00	Nil	A flexible current account for day-to-day banking. Overdraft (subject to eligibility) - extra breathing space for your finances. Over 18s only.	More Info >
NatWest	Advantage Gold	0.0%	19.49%	£100.00	£12.95	For 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 >
RBS	Royalties Gold	£0.00	19.24%	£100.00	£12.95	Mobile phone insurance - includes iPhones; Green Flag car breakdown cover - even on your driveway; Annual world wide travel insurance - includes winter sports.	More Info >
RBS	Select Current Account	0%	19.89%	£0.00	Nil	A flexible current account for day-to-day banking. Overdraft (subject to eligibility) - extra breathing space for your finances. Over 18s only.	More Info >
Nationwide	Nationwide Flex Account	0%	18.9%	£700 per month	Nil	Preferential 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

As there are so many different banks and building societies that could be tempting you with such rewards, it would be wise for you to compare a number of different current accounts to see which might be the most beneficial to you.

Current accounts are generally offered free of charge, however if you are interested in opening a current account that offers a number of rewards in return for a monthly fee, you might wish to consider opening a premium current account.

To ensure that you find a current account that is most suited to your individual needs, it is crucial that you compare both premium and standard current accounts to see what each could offer you.

If you are looking to switch your existing current account, you may be relieved to learn that the switching process could be a lot simpler than you might have originally thought. Most banks and building societies have a switching procedure in place, whereby they could transfer direct debits and standing orders to your new current account in a few weeks.