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Best current accounts
Get up to £200 to switch, up to 7% interest or up to 1% cashback
Switching to a new current account is quick, easy and can earn you up to £200 in free cash. Yet you can get plenty of perks without switching bank account, including 1% cashback on spending or bills and decent savings interest. This guide explains it all and helps you compare the top-pick accounts.
Other top MSE banking guides...
Packaged accounts: Save £100s on insurance
Need a business bank account?: For the self-employed
Basic bank accounts: For those with poor credit histories
Digital banking: Learn about app-based banks
What is a current account?
A current account is a type of bank account used for everyday banking which keeps your money secure and helps you manage your finances. It gives you an easy way to make payments to others (for example, standing orders and Direct Debits) and have people pay you (for example, your employer). You'll also get a debit card, which allows you to make payments and withdraw cash from a cash machine.
While you may use other money products, such as credit cards and savings accounts, it's generally your current account that lets you make payments into each one, or pay bills, meaning everything works smoothly together.
Is my money safe?
Your money is secure – the Financial Services Compensation Scheme (FSCS) guarantees up to £85,000 per person, per financial institution. This means that if your bank ever went bust, you would be guaranteed your money back (up to £85,000).
How do I open a current account?
Opening a current account is an easy process which usually plays out in the following way:
- You complete an application form. This can be done most simply online, though many banks do allow you to open an account in person or over the phone if you prefer. It'll ask you a number of questions regarding your personal and financial circumstances, and usually takes around 10 minutes to complete. Sometimes there could be extra steps – such as supplying ID or payslips – although this is rare.
- You agree to the bank credit-checking you. This is regardless of whether or not you request an overdraft – most banks use information from credit reference agencies to confirm that you are who you say you are. This may seem unnecessary, but banks are legally bound to ensure they do not facilitate money laundering, and establishing a customer's true identity helps them to do that.
For full information on setting up an account, head to our How to open a bank account guide.
Compare account perks to find the one that works for you
When considering which bank account to go for, think about features you want your account to offer. Some accounts will pay interest on your balance, some will offer cashback, and still others will offer insurance or 0% overdrafts. Decide which of these is most important to you.
Also worth weighing up is how you open and manage the account. Do you want a bank account you can open and operate entirely online? Or are you more keen on being able to head into a branch to sort things out? If the latter, you'll need to steer clear of the app-only banks.
Check the account's eligibility criteria before applying, too. Certain accounts come with fees, or require you to pay in a certain amount each month to qualify for the features they offer. Others may need you to have a good credit score, so do check the small print before you apply.
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Bank account need-to-knows
There are a few points you need to think about when choosing a new bank account to ensure you make the right selection:
Top current accounts that give bonuses for switching
Banks sometimes offer bonuses – free cash, boosted savings rates or other perks – to new customers who switch in an existing current account to a new current account with them. Essentially, banks want your custom and switch bribes are a double win for banks – you not only join them, but you leave one of their rivals.
Service rating: 58% 'great'
Account info: - Minimum pay-in: £1,250/month - Overdraft: 39.49% EAR variable |
Top for overall cash. FREE £180, plus £36 a year cashback and 6.17% AER interest linked regular saver.The NatWest Reward account comes with a £2/month fee, but you get £5/month cashback when you pay in £1,250, pay out 2+ Direct Debits of £2+ and log into its mobile banking app each month. So the net gain is £3/month or £36/year.
You also get access to NatWest's Digital Regular Saver which allows you to save up to £150/month, and pays 6.17% variable interest on up to £5,000. If you deposited the maximum amount each month for a year, you'd have £59.93 in interest.
Who can get the bonus? - You can't have ever received a switch bonus from NatWest, RBS or Ulster Bank before
How to get the £180 bonus: - Have a NatWest Reward account – either open a new NatWest Reward account or be an existing NatWest Reward account holder. - Request and complete a full switch from a non-NatWest, RBS or Ulster Bank account online or via the mobile app. - Within 60 days of the switch completing: pay in £1,250+ and log in to the mobile banking app. (Direct Debits aren't part of the switch offer but you'll need to have 2+ of £2+ set up as part of the cashback conditions of the Reward account). - The £180 is paid within seven days of meeting the above criteria |
Service rating: 54% 'great'
Account info: - Overdraft: 39.9% EAR variable (0% up to £50)
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Top for intro cash. FREE £200, plus choice of perks and 6.25% AER interest linked regular saver.As well as the upfront switch cash, with Club Lloyds you can choose a reward each year including: 12 months' Disney+ (with ads), six cinema tickets, a Coffee Club & Gourmet Society membership, or a subscription to a magazine. Do note there's a £3/month fee unless you pay in £2,000+ a month.
You also get access to a linked regular saver paying 6.25% fixed interest for a year on up to £400/month (maxed out, it's £150/year interest). Plus, there's a 0% overdraft on up to £50.
You can bag the free switch cash with some other accounts too, including the Club Lloyds Silver account, one of our top-pick packaged accounts which gives a range of insurance for £11.50/month.
Who can get the bonus? - You can't have had switch cash from Lloyds, Bank of Scotland or Halifax since April 2020.
How to get the £200 bonus: - Switch in an account from a different bank, including 3+ Direct Debits. The switch must be started by 10 December. - The £200 is paid within 10 working days of the switch starting. |
Service rating: 91% 'great'
Account info: - Overdraft: 39.9% EAR variable (0% up to £250) |
Top for service & all-rounder. FREE £175, TOP service, 7% regular saver, fee-free overseas spending and a £250 0% overdraft.First Direct's been top or near-top of every bank service poll we've ever run – most recently it scored 91% 'great'. Plus, newbies to First Direct's 1st Account* can expect £175 to switch, a £250 0% overdraft (subject to a credit check), a linked regular saver paying 7% fixed for a year and near-perfect rates when spending overseas. Put all this together and it's a top all-round account.
Who can get the bonus?
How to get the £175 bonus: |
Service rating:
Account info: - Minimum pay-in: None - Overdraft: 39.9% EAR variable (0% up to £50) |
Another good all-rounder. FREE £175, 5% interest on up to £1,500, 1% cashback for 12 months, 6.5% regular saver, plus 0% overdraft on up to £50.Nationwide is offering a host of perks to newbies switching to its FlexDirect account. On top of the £175 free cash, there's 5% AER interest on current account balances up to £1,500 for a year (maxed out that's £75), 1% cashback for 12 months up to £5/month, plus a 0% overdraft on up to £50.
You also get access to a linked regular saver paying 6.5% variable interest for a year on up to £200/month (maxed out, it's £85/year interest).
You can also get the free £175 by switching into Nationwide's £13/month FlexPlus packaged account or its bog-standard FlexAccount – though the 5% interest and 1% cashback aren't available with these accounts.
Who can get the bonus? - You can't have switched into a Nationwide account, or have received switch cash from Nationwide, since 18 Aug 2021.
How to get the £175 bonus: - Open the account online or via app (you can also switch into an existing FlexDirect account, though you won't get the 5% interest or 1% cashback perks). - Switch in an account from a different bank including 2+ Direct Debits within 28 days. - Within 31 days of requesting the switch, pay in £1,000+ and make at least one payment using the debit card. - The £175 is paid within 10 days of meeting all the criteria. |
Service rating: 60% 'great'
Account info: - Minimum pay-in: £500/month (£1,500/month for Edge Up) - 39.94% EAR variable (switchers get four months 0%)
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Top for cashback on bills. FREE £150, 6% easy-access savings, 1% bills cashback & a top overseas debit card.As well as the free cash, for a £3/month fee, switching to the Santander Edge account* can net you a total of £20/month cashback:
- 1% back on energy, council tax, broadband, TV, mobile & water bills (max £10/month). - 1% on supermarket, fuel and train spending (max £10/month).
There's also a linked saver that pays 6% on up to £4,000 for the first year – maxed out, this pays around £240/year interest.
Plus, the Edge debit card also has no foreign exchange fee when you spend abroad, so you get the same near-perfect exchange rate as the bank does.
Got high bills and/or high supermarket/travel spend? The Santander Edge Up could be worth a look. It gives up to £15/month back in both categories – so £30/month total – though there's a higher £5/month fee and you can't open the 6% saver with this account.
Or try its Everyday account* if you'd rather a no-frills, fee-free account.
- You can't have ever had a switch bonus from Santander since September 2021, and you must be switching from a non-Santander, Cahoot or Cater Allen account.
How to get the £150 bonus: - Open an account online or in branch. (You can also switch in to an existing Santander Edge, Edge Up or Everyday current account.) - Within 60 days, switch in an account from a different bank, have 2+ Direct Debits and pay in £1,500+. - The £150 will be paid between 60 and 90 days after starting the switch.
Extra tip: Santander customers can also apply for its Edge credit card, which pays an unbeatable year-long 2% cashback on almost all UK & overseas spending, up to a max £15/mth (again for a £3/mth fee). Of course, only do this if you'll pay off the card IN FULL each month to avoid the 29.8% rep APR interest. |
Service rating: 61% 'great'
Account info: - Minimum pay-in: None - Overdraft: 35.9% EAR variable |
New. FREE £75 to switch, plus £25 a month for three months.You can get up to £150 with the Co-op Bank if you switch and stay for three months – an initial £75 switch bonus, plus £25 a month for three months. Though you'll need to jump some hoops to get it all.
You've a choice of a few accounts: our top picks are the bog-standard, fee-free Current Account or the Everyday Extra – a packaged account offering a range of insurance perks for a £15/month fee. The offer is open to both new and existing customers.
Who can get the bonus? - You can't have had switch cash from Co-op Bank since 1 Nov 22.
How to get the £75 switch bonus: - Open a new account and request to switch in an account from a different bank within two weeks (or switch into an existing account). - Complete a full switch within eight weeks. - Within 30 days of the switch completing: deposit £1,000+, have 2+ Direct Debits, register for digital banking, add the debit card to a digital wallet (for example, Apple/Google Pay) and make 10+ transactions using the debit card (including via digital wallets). - The £75 will be paid within 7 days of meeting all the above criteria.
How to get the £25/month for three months: - Qualify for the £75 bonus above. - Month one begins the day after you receive the bonus – for example, get the £75 on 14 Dec and month one is 15 Dec to 14 Jan. - You'll get £25 in each month that you: deposit £1,000+, make 10+ transactions using the debit card (including via digital wallets) and, on the last day of the month, have 2+ active Direct Debits. - You can fail to qualify for any of the three months' bonuses, but still qualify for any of the others. So if you didn't qualify in month one, you can still qualify in months two and three. - Each £25 is paid within 7 days of the end of your monthly period. |
Top bank accounts for longer-term rewards
Reward accounts – aka cashback bank accounts – often pay you free cash for using them as your main bank account. The cashback may be a percentage of what you spend on bills, and to earn it, you often need to make a certain number of purchases, pay out Direct Debits or use digital banking.
However, many reward current accounts come with a monthly fee, so it's important to work out whether the cashback you'll likely earn will outweigh this. You also may need to deposit a certain amount into the account each month. It's important to consider all of the requirements, rewards and other perks (such as an overdraft) before committing to one.
Below are some of the best reward current accounts out there.
Service rating: 60% 'great'
Account info: - Minimum pay-in: £500/month - Monthly fee: £3 |
Get 1% cashback on bills and supermarket/travel spend (£3/month fee) and no fees to spend/withdraw cash abroad.With Santander Edge you get 1% back on water, energy, council tax, mobile, broadband, phone and paid-for TV bills, as well as 1% on most supermarket and travel spending. You can earn up to £10/month for each – so £20/month max.
You also get a linked 6% easy-access saver (max £4,000, can't be opened jointly), plus the debit card is fee-free for overseas spending and ATM withdrawals. To get the interest and cashback, you must pay in £500+/month and have 2+ Direct Debits.
Got high bills and/or high supermarket/travel spend? The Santander Edge Up could be worth a look. It gives up to £15/month back in both categories, though there's a higher £5/month fee and you can't open the 6% saver with this account.
Plus, you can currently get £150 FREE cash if you switch. |
Service rating: 95% 'great' - Minimum pay-in: None - Overdraft: None |
Get an ongoing 1% cashback, no fees to spend/withdraw cash abroad, plus 3.5% interest.Newbies to Chase* get 1% cashback (max £15/month) on almost all spending (though there are some exclusions) for their first 12 months. After that, you'll need to deposit £1,500+ a month to keep getting the 1% cashback, though there are workarounds if that's difficult for you.
Chase also gives you the same near-perfect rate it gets on spending in any country, so use the debit card to pay overseas and you get the 1% cashback there too. To use Chase, you'll need a device with at least iOS 14.1 or Android 8.1 operating systems. |
Next best accounts that offer cashback | |
Service rating: 87% 'great' |
Get 1% cashback for 12 months: New Nationwide FlexDirect customers will receive 1% cashback on purchases for 12 months. You have to pay in £1,000+ into the account each month and the cashback is capped at £5 a month.
Plus, you can currently get £175 FREE cash if you switch. |
Get £5/month when you: Pay in £1,500+/month (if you don't, there's a £3/month fee and you won't get the £5) and stay in credit. You also have to either a) spend £500+/month on your debit card OR b) keep a constant £5,000+ in your account each month. |
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Service rating: 58% 'great'
Service rating: 57% 'great'
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Get up to £3/month when you: Pay in £1,250+, pay out 2+ Direct Debits of £2+ and log in to its mobile banking app each month. You get £5/month back, but there's a £2/month fee.
Plus, you can get £175 FREE cash if you switch to NatWest. |
Top bank accounts that pay savings interest
You don't have to switch to the accounts below to get the interest. And for comparison, the top easy-access savings deal open to all pays 5.2%.
Kroo - Interest: 3.85% AER variable (max £500,000) - Minimum pay-in: None - Overdraft: 24.9% EAR variable |
Get 3.85% interest from app-based bank Kroo.Kroo pays a decent rate, but unlike Chase below, it's paid on your current account balance, rather than on a linked savings account.
Kroo may be an unfamiliar name, but – like all banks in this guide – it has the full UK savings safety protection, so anything £85,000 or under is protected by the Financial Services Compensation Scheme.
Note: The interest rate on the Kroo account is currently set at 0.9% below the Bank of England base rate. This will change on 26 November to 1.1% below the base rate. If the base rate remains the same at that date, the interest on the Kroo account will drop to 3.65% AER. |
Service rating: 87% 'great'
Account info: - Interest: 5% AER fixed (max £1,500) - Minimum pay-in: None (£1,000+/mth for the 5% interest) - Overdraft 39.9% EAR variable (0% up to £50) |
Get 5% interest fixed for 12 months plus 1% cashback.Nationwide FlexDirect newbies who pay in £1,000+ each month will get 5% AER interest for a year on up to £1,500 in the current account – maxed out this is £75 in interest.
You also get 1% cashback on most spending for 12 months up to £5/month, though again you need to deposit £1,000+ each month.
Plus, you can currently get £175 FREE cash if you switch. |
Service rating: 95% 'great' - Interest: 3.5% AER variable on the linked savings account (max £1m) - Overdraft: Not available |
Earn 3.5% interest, 1% cashback + 5% 'round-up' interest.Open a Chase current account*, then open the 3.5% savings account from within the app (needs at least iOS 14.1 or Android 8.1). It's a decent rate, though it can be beaten.
You also get other rewards. The current account gives a rolling 1% cashback on most debit card spending (max £15/month), with no minimum deposit to qualify for the cashback for the first 12 months. After that, you'll need to pay in £1,500+/month to get it.
You also get fee-free spending and withdrawals abroad and 5% interest on small amounts through its 'round-up' feature. |
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Top accounts if you're overdrawn
Overdrafts are debts – and one of the most expensive, even if it's an arranged overdraft. Don't just tackle the symptoms of your overdraft, though – it's important to try to pay it off. See our full Cut overdraft charges guide for help with this.
These accounts come with an overdraft facility which could help you cut costs over the long term, though do remember that you're not guaranteed to get an overdraft when you apply. We've included info on how to find banks' overdraft eligibility checkers (if they have them), which should help you find out if you're likely to be accepted, before you apply.
You can switch if you're overdrawn. It's easy if the new bank matches your overdraft – the new bank pays your old bank, so now you owe them instead. If it doesn't, you can still switch but you'll need to pay off your existing overdraft with your old bank (or the difference, if you're offered a smaller overdraft with the new bank).
Service rating: 91% 'great'
Account info: - Minimum pay-in: None |
Ongoing £250 interest-free overdraft and TOP service.First Direct's 1st Account* offers many a £250 0% overdraft, though it's not guaranteed – so use the bank's eligibility checker before applying (follow that link and scroll down to the 'How our overdraft works' dropdown, and the checker's linked from there). Expensive interest kicks in above that, so this account's likely only good if you use your overdraft for limited amounts.
Plus, you can currently get £175 FREE cash if you switch. |
Service rating: 95% 'great' - Minimum pay-in: None |
No 0% overdraft, but a chance of a lower interest rate.Starling Bank* has tiered overdraft rates, and all tiers are cheaper than most other banks. You can control your overdraft limit in its app, and set up spending notifications if you're about to go into (or are already in) your overdraft. The rate and limit you get are credit score dependent – use its eligibility checker before applying to get an indication. As an added boon when not overdrawn, Starling pays 3.25% interest on balances up to £5,000 in the current account (note: this feature is set to be withdrawn 10 Feb 2025). |
Top bank account for insurance
Below is our top-pick packaged bank account which, for a monthly fee, offers various insurance perks. Always check if it's cheaper to buy the insurance elsewhere before applying, and for more options see packaged bank accounts.
Service rating: 37% 'great'
Account info: |
Get £500+/year of travel, mobile & breakdown cover for £150/year.The Virgin Money Club M packaged bank account is especially good for families, as you get cover for all family phones and gadgets, plus worldwide family travel insurance (max age 74). You also get UK & European breakdown cover for the account holder(s).
See full what the insurance covers info. |
Top banks for customer service
Every six months, we run a poll asking for your opinions on the quality of banks' customer service. We ask for a rating of 'great', 'OK' or 'poor' and tally them up as a rough indicator of how well each bank is performing.
Below are the results of our most recent poll, in July 2024, ranked by highest percentage of 'great' responses. We've added links for any banks we feature in our various banking guides – so it's easy to find our full reviews – and have separated the top three for easy viewing.
Bank or building society | Percentage 'great' | Percentage 'OK' | Percentage 'poor' | Total responses |
Chase | 95% | 3% | 2% | 350 |
Starling | 95% | 3% | 2% | 172 |
First Direct | 91% | 6% | 3% | 1,043 |
Nationwide | 87% | 9% | 4% | 1,176 |
Monzo | 88% | 4% | 9% | 140 |
Santander | 60% | 28% | 12% | 712 |
Bank of Scotland | 60% | 28% | 12% | 90 |
RBS | 57% | 33% | 10% | 94 |
Co-op | 61% | 23% | 16% | 145 |
NatWest | 58% | 29% | 14% | 475 |
Lloyds | 54% | 31% | 16% | 441 |
HSBC | 49% | 33% | 17% | 336 |
Halifax | 49% | 31% | 20% | 295 |
TSB | 47% | 30% | 23% | 104 |
Virgin Money | 37% | 33% | 31% | 117 |
Barclays | 38% | 28% | 35% | 440 |
Need a bank account for a child or student?
They say to respect your elders, but banks certainly pull out the stops to appeal to younger generations too...
Children's bank accounts
Children's bank accounts are generally aimed at those between 11 and 17. They are usually just like 'grown up' accounts, but without the overdraft facility or credit check. Some also ban kids from spending at places such as gambling sites and off licences. For full info, see our Children's bank accounts guide, which also includes info on prepaid cards for kids, in case that's a better option for your child.
Student bank accounts
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Cashback sites may pay you for signing up
As an extra boon, members of specialist cashback websites can be paid when they sign up to some financial products. Do check that it's exactly the same deal though, as terms can be different. And remember the cashback is never 100% guaranteed until it's in your account.
Full help to take advantage of this and pros and cons are in our Top cashback sites guide.
Want to complain about your bank account?
If your bank has charged you the wrong amount, taken the wrong amount in payment or its service has been atrocious, then you don't have to suffer in silence.
It's always worth trying to call the bank first to see if it can help, but if not, you can use free complaints tool Resolver. The tool helps you manage your complaint, and if the company doesn't play ball, it also helps you escalate your complaint to the free Financial Ombudsman Service.
Bank account FAQs
Here are some common bank account related queries. If you've got a question we've not answered below or in the text above, suggest a question in the MSE Forum.
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