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Ethical Current Accounts

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The term "ethical" means different things to different people. If you are looking for a ethical current account you will probably expect it to be with a bank that has an ethical policy with regards to how it lends money and to whom.

 

If you are searching for an ethical current account may wish to ensure that their money is not used to finance anything that may be seen as morally questionable or environmentally damaging. In this respect the bank should have a clear policy on lending and the criteria it applies to ensure that its principles are not compromised.

 

There are not many banks that provide current account facilities that operate along these lines in the UK. The largest bank who do are The Co-operative Bank who offer a range of current accounts depending on your needs. See below for further details:

 AccountInterest (AER)Overdraft RateFunding Required*Fee pmFeaturesApply
1.00%*9.90%**Nil£13With a Privilege Premier current account, you can choose any one of the three additional benefits packages provided by Lifestyle Services Group Limited and insured by London General Insurance Company Limited at no extra charge – giving you the flexibility to shape your account to suit you.Apply Now >

*Current account is linked automatically to Savings Account that pays interest.

**Authorised overdraft rate. Unauthorised rate 15.90% EAR.

Representative example: If you use a authorised overdraft limit of £1,200 the interest rate charged will be 9.9% EAR (variable).

If you are looking for an ethical savings account you do have a greater choice of provider. As well as the co-operative Bank you should also consider Triodos Bank and The Ecology Building Society for instant access and fixed rate savings bond deals.

 

Use the table below to compare other current account deals:


 

Latest Current Account Deals
 AccountInterest (AER)Overdraft RateFunding Required*Fee pmFeaturesApply
5.0%*0% for 12 months£1,000 per monthN/A5.0% IN-CREDIT INTEREST on balances up to £2,500 for the first year.More Info >

Nationwide FlexDirect Current Account

  • *5.0% AER fixed (4.89% gross pa) in-credit interest on balances up to £2,500 for the first 12 months
  • No monthly account fee
  • Paperless statements 
  • Visa Debit card and chequebook option
  • Manage your account online, by phone or in branch
  • Mobile app
  • No fees on arranged overdrafts for the first 12 months 
  • Must be 18 or older
  • Overdraft charge of 50p per day after the first 12 months
  • Must pay a minimum of £1,000 into the account each month, from an external source (i.e. not another Nationwide account)
N/A0% for first 3 monthsNo minimum N/A3 months interest-free overdraft and no monthly account feeMore Info >

Nationwide FlexAccount Current Account

  • Everyday current account
  • No monthly account fee
  • No fees on arranged overdraft for first 3 months
  • Free mobile banking app
  • 0% interest on any balance 
  • 18.9% EAR overdraft charge after the first 3 months (capped at maximum £5 per month)
  • Must be 18 or older

 

3.0%*0% for first £250No minimum £133.0% INTEREST on balances up to £2,500More Info >

Nationwide FlexPlus Current Account

  • *3.0% AER fixed (2.96% gross pa) in-credit interest on balances up to £2,500 
  • £13 monthly account fee
  • No fees on arranged overdrafts up to £250  
  • UK & Europe Breakdown Cover
  • Worldwide family travel insurance  
  • Free mobile banking app, text alerts and secure online banking
  • Must be 18 or older
  • Overdraft charge of 50p per day after the first 3 months
  • 0% interest on balances over £2,500 

 

N/A0% for first £250No minimumFree if funding £1,000 or £10 below £1,000Switch your current account and you'll get a free gift worth up to £150. £250 interest free overdraft. Free banking if paying over £1,000 per month. Satisfaction guarantee - £100 if you leave within 6 monthsMore Info >

First Direct 1st Current Account

  • A current account that works together with your life
  • Switch your current account and you'll get a free gift worth up to £150
  • £250 free of overdraft interest
  • Comes with satisfaction guarantee - if you leave within 6 months you'll get £100
  • Mobile banking on the go with app
  • Beautifully designed Internet Banking service
  • Award winning customer service from real people answering your calls, 24 hours a day, seven days a week
  • Must be 18 or older
  • Switch using the Current Account Switch Service and deposit £1,000 within 3 months of account opening. Account T&Cs apply
  • Must pay a minimum of £1,000 into the account each month to qualify for free banking and offers