Current Accounts

Compare UK Mobile & High Street Current Accounts

High Interest Current Accounts

High Interest Current AccountsGet Up to 2.00% AER!

Whilst savings rates on traditional saving accounts have tumbled some of the highest rates on your cash can be found via high interest current accounts.

Account
Nationwide FlexDirect Current Account
Interest Rate
2.00%
AER fixed on balanced up to £1,500
Funding Required
£1,000 per month
Overdraft rate
0% for 12 months
Account
Santander 1|2|3 Current Account
Interest Rate
0.60%
AER fixed on balances up to £20,000
Funding Required
£500 per month
Minimum Arranged Overdraft
On Application
Account Fee
£5 pm

Mobile Current Accounts

The banking world is changing – No need to go to the high street to find a current account.

The new breed of mobile banks offer flexible modern low cost services making it easier to keep track of your spending with many providing handy budgeting tools and additional services with selected partners.

Account
Starling Bank Mobile App Bank Account
Details
A 100% mobile current account built to give you more control over your money. Voted Best British Bank 2020*
Spend & Transfer Money Abroad
Account fee
FREE

*Best British Bank and Best Current Account in 2019 and 2020 at the British Bank Awards. Awarded 5 stars by Defaqto too

Account
Bunq Premium Mobile App Bank Account
Details
A revolutionary mobile bank, built from a clean slate, dedicated to your wants and needs. Get the freedom to spend, save, move and invest your money whichever way you like
Spend & Transfer Money Abroad
Account fee (EUR)
7.99 EUR per month
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

Student Current Accounts

Exclusively for students. Think largest student overdraft.

Student bank accounts are often provided with seductive freebies e.g. travel discounts and cashback rewards. Whilst these are nice things to have we would argue the most valuable perk is the interest free overdraft on offer. So it makes sense to go for an account with a largest overdraft limit which is interest free.

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

Rewards Accounts

Earn Rewards. If You Transfer Your Current Account.

Some banks offer generous cashback or rewards if you transfer your current account to them.

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
Arranged Overdraft
Account Fee
£13 per month

Everyday Current Accounts

Simple Current Accounts. With No Fees.

Typically everyday current accounts have no monthly fees and offer limited benefits.

Account
Nationwide FlexAccount Current Account
Funding Required
No minimum
Arranged Overdraft rate
39.9%
Account fee
No fee

UK Current Accounts For Bad Credit

Basic Bank Accounts. Suitable If You Have A Less Than Perfect Credit Record.

A basic account is suitable for paying bills and withdrawing cash. There are no credit checks so there should be no problem in getting accepted.

Account
Card One Money Current Account
Adverse Credit
Details
No credit checks - open to everyone with guaranteed acceptance. Help manage your money. Account comprises of a Billing Account for money in and to pay your bills from, plus a Debit Mastercard for your every day spending
Cashback

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.