Current Accounts

Nationwide FlexDirect Current Account

Earn 5% AER Fixed Interest for 12 Months

  • On balances up to £2,500
  • Interest paid for first 12 months
  • No current account fees
  • Easy online account management
  • Can be setup as an extra account

Our view: With this current account you get 5% AER on the first £2,500 of your cash which is fixed for 12 months. To qualify you will need to pay in £1,000 pm (Equates to a £12,500 pa salary) . Please note the interest rate drops to 1% after 12 months. Unusually you do not have to set up any direct debits with this account, so you can just open it as an extra account. The account has full savings FSCS protection.

Nationwide FlexDirect Account »

High Interest Current Account Offers

Account
Nationwide FlexDirect Current Account
Interest Rate
5.00%
AER fixed on balanced up to £2,500
Funding Required
£1,000 per month
Overdraft rate
0% for 12 months
Account
Santander 1|2|3 Current Account
Interest Rate
1.50%
AER fixed on balances up to £20,000
Funding Required
£500 per month
Overdraft rate
Up to £3 per day
Special Offers
Up to 3% cashback on household bills

Multi-Currency Mobile App Current Accounts

Account
Monese Multi-Currency Mobile App Bank Account
Details
Multi-currency banking app that provides you with fast and free current accounts in 31 countries
Spend & Transfer Money Abroad for Free
Account fee
£0 to £14.95 per month
Account
Revolut Mobile App Bank Account
Details
Modern banking: set up and manage current account directly from your phone
Spend & Transfer Money Abroad for Free
Account fee
£0 to £12.99 per month

Current Account Offers With Switching Incentives

Account
Santander 1|2|3 Student Current Account
Funding Required
£500 per term
Overdraft
£1,500 Interest Free increasing to £2,000
Details

A free 4-year Santander 16-25 Railcard which could save you 1/3 off rail travel in Great Britain

Everyday Current Accounts

Account
Nationwide FlexPlus Current Account
Special Features
Free Breakdown insurance, worldwide travel insurance, family mobile insurance plus commission-free cash withdrawals and card payments abroad
Account Fee
£13 per month
Arranged Overdraft rate
39.9%
Account
Nationwide FlexAccount Current Account
Funding Required
No minimum
Arranged Overdraft rate
39.9%
Account fee
No fee

UK Current Accounts With No Credit Checks & Available For Non UK Residents

Account
Monese Multi-Currency Mobile App Bank Account
Details
Multi-currency banking app that provides you with fast and free current accounts in 31 countries
Spend & Transfer Money Abroad for Free
Account fee
£0 to £14.95 per month
Account
Revolut Mobile App Bank Account
Details
Modern banking: set up and manage current account directly from your phone
Spend & Transfer Money Abroad for Free
Account fee
£0 to £12.99 per month
Type of Card
Pre-Paid MasterCard
Adverse Credit
Details

One for all! Viabuy Prepaid Mastercard. No credit check or proof of income

100% Acceptance Rate

Viabuy Pre-Paid MasterCard

Account
Cash Plus Gold Deluxe Bank Account
Adverse Credit
Details
No credit checks to open an account. Free withdrawals. Direct Debits and Online Banking. Option to borrow up to £250. Add 'Creditbuilder' to improve your credit rating at no extra cost
Option to borrow money

Compare Current Accounts

Some of the best rates of interest you will get on cash currently are on current accounts. E.g Nationwide offer 5%  AER fixed (4.89% gross pa) in credit interest on balances up to £2,500 for the first 12 months

You can also benefit from switching your account. A number of banks now offer switch incentives. The good news is that switching is a lot easier than it used to be – basically the new bank account provider will do all the work in setting up your direct debits and standing orders etc.

Change to a current account that suits you better

More than 5.1 million UK bank and building society customers have switched their bank accounts using the free (and guaranteed) current account switching service which simplifies the process for customers.

They’re choosing accounts which are better suited to their spending and saving patterns, and offer them rewards that they will really make use of.

7 steps to switch your current account in 7 days:

1 Have a look at the different current account features on offer and choose the account you want to switch to. (You won’t be able to switch from a joint account to a sole account. And if you have an overdraft, you’ll need to checked if a new bank or building society is willing to let you transfer it over.)

2 Check that the bank / building society you’re currently using is signed up to the Current Account Switch Guarantee service.

3 Check that the one you want to transfer to is also signed up to the service. (All but one of the banks / building societies on Fair Investment are part of the scheme.)

If either account isn’t part of the service, you can still switch – you’ll just need to do it manually.

4 Follow the links from Fair Investment on this page to the current account you’ve chosen and fill in the details. Provide them with two separate documents proving your identity and your address.

5 As soon as the account is opened you just need to complete a Switch Agreement form and an Account Closure form.

6 If you want to do a complete switch, closing your old account, your chosen bank will contact your old bank and arrange for your balance and payments to be transferred over, including direct debits and standing orders going out, and salary payments coming in.

7 Everything will be completed within 7 working days. You can agree the date you want  your new account to open, and the process will start six working days before that.

How soon you’ll get your debit card and PIN isn’t covered by the guarantee: that depends on how quickly your new bank can get them sent out to you. So your new account will be set up in seven working days, but you may have to wait a bit longer to access it.

Your new bank is responsible for contacting you before the switch date if there are any hitches with transferring your standing orders and direct debits – and incoming payments.

And the switching service is covered by a guarantee: the new bank must refund you if there are any charges because payments didn’t go through on time.  But you have to ask them for this.

Yes – you can use the partial switch service and keep your old account open, transferring all or some of your payments. But the process isn’t covered by the service guarantee so it can take longer: possibly up to 20 working days. And there isn’t an automatic-redirect for the three years after you switch. A partial switch may not qualify for the incentives offered for switching (though that shouldn’t be the only reason why you change accounts).

Not all your regular bill payments may be made by direct debits or standing orders. Some service providers (such as telecoms services, online subscriptions, gym membership and payday loans) get you to set up a “recurring payment” or “continuous payment authority” which is linked to your debit or credit card

Because they’re linked to a card rather than directly to your bank account, they’re not included in the switching service (or covered by the guarantee).

It’s not always clear which are your continuous payment authorities: you won’t find them listed on your online banking portal. When you set them up you were asked for you card details (“please read me the long card number”) rather than your bank account and sort code numbers.

You’ll need to check your monthly card statements: any regular payments going out each month that are not marked as DD (direct debit) or SO (standing order) are likely to be continuous payment authorities.

If you want to keep paying for this service (or loan) in this way, you’ll need to contact each provider and tell them your new card details as soon as you have them.

This may sound like a lot of bother, but it is useful to check periodically what’s going out of your account regularly: there may be services you’re not using (such as fast delivery, or additional online data storage) that you want to cancel.

If you can remember the family members or friends who occasionally transfer money directly to your bank, you can send them your new account details and ask them to set them you up as a new Payee.

It’s probably not a good idea to just email all your Contacts with your new account details. If you’re concerned about email security, the most secure way of sending bank account details to specific people is via WhatsApp.

And if any payments are accidentally made to your old account, for 36 months (three years) after you’ve switched, your new bank or building society will arrange for any payments to be automatically redirected to your new account. They will also contact the sender and give them your new account details.

You can pick any convenient day in the month, so long as it’s more than a week away, and not a weekend or a bank holiday.

If all your regular payments tend to go out of your account around the same time it’s best to choose a time of the month when your bank account isn’t so busy.

Nationwide FlexDirect Current Account

Earn 5% AER Fixed Interest for 12 Months

  • On balances up to £2,500
  • Interest paid for first 12 months
  • No current account fees
  • Easy online account management
  • Can be setup as an extra account

Our view: With this current account you get 5% AER on the first £2,500 of your cash which is fixed for 12 months. To qualify you will need to pay in £1,000 pm (Equates to a £12,500 pa salary) . Please note the interest rate drops to 1% after 12 months. Unusually you do not have to set up any direct debits with this account, so you can just open it as an extra account. The account has full savings FSCS protection.

Nationwide FlexDirect Account »