This comparison simply includes all savings accounts.
B Current And Savings Account
Why we like it: No minimum monthly funding or monthly fee to maintain the account. Earn up to 15% cashback with Retailer Offers. Stress-free account switching in 7 days with the Current Account Switch Service. £300 ATM withdrawal per day, Arranged Overdraft facility (subject to status). Online and Mobile Banking with text and email alerts. Must be 18 or older and live in the UK permanently. 39.94% EAR overdraft charge. Bank is registered with the Financial Services Compensation Scheme (FSCS), so any money you keep will be fully protected, up to £85,000
Why we like it: SPECIAL OFFER - £125 for SWITCHING to an HSBC Advance Account. Earn 1.00% AER/gross when you save between £25 and £250 per month. Arranged overdraft limit of at least £1,000 on account opening. Money banking app. No monthly account fee. Easy switching with the Current Account Switch Service. Must be 18 or older and be UK resident. Must pay in £1,750 per month or £10,500 over 6 months. Must be approved for an arranged overdraft of £1,000+. Get the £125 when switching to an HSBC Advance Account as a new customer with at least 2 Direct Debits or standing orders. Eligibility criteria and T&C’s apply. Offer may be withdrawn anytime
Why we like it: SPECIAL OFFER - £100 for SWITCHING to a First Direct 1st Account. Access to Regular Saver Account paying 1.00% AER/Gross fixed for 12 months if saving between £25 and £300 a month (up to £3,600 per year). £250 interest-free overdraft (subject to status). No minimum monthly funding and no monthly account fee. Mobile banking app. UK based contact centre. Easy switching with the Current Account Switch Service. Must be 18 or older and UK resident. Get the £100 when switching as a new customer and paying in at least £1,000 within three months of the account opening
Why we like it: Earn 0.60% AER (variable) interest on balances up to a maximum of £20,000. Up to 3% CASHBACK on various household bills. Monthly fee of £5. Cashback capped at £5 for each cashback tier each month. Must pay in £500 pm. Bank is registered with the Financial Services Compensation Scheme (FSCS), so any money you keep will be fully protected, up to £85,000
Why we like it: Free current account. Pays 0.05% AER interest on balances up to £85,000. Get set up in minutes. Send money abroad: Fast and secure money transfers to bank accounts in 38 countries worldwide. No fees when you pay with your card abroad or withdraw money. Get a spotlight on your spending: See what you’ve spent instantly with real-time payment notifications. 3 month interest holiday on the first £500 of an arranged overdraft. Best British Bank and Best Current Account in 2020 at the British Bank Awards. Awarded 5 stars by Defaqto. Bank is registered with the Financial Services Compensation Scheme (FSCS), so any money you keep will be fully protected, up to £85,000
Why we like it: Can be opened by or on behalf of any child up to the age of 18. Debit or cash card available for those aged between 13 and 18. Monthly interest. No monthly fee. For children under age 13, the account must be opened in trust and managed by an adult (trustee). If you’re aged between 13 and 18 years old and live permanently in the UK you can apply online by telephone or in branch. No overdraft facility. 1% interest on the entire balance once the balance is £100, 2.00% AER/1.98% gross (variable) on the entire balance once the balance is £1,500, 3.00% AER/2.96% gross (variable) on the entire balance once the balance is £1,500 or over (up to a maximum of £2,000). Bank is registered with the Financial Services Compensation Scheme (FSCS), so any money you keep will be fully protected, up to £85,000
Why we like it: *2.00% interest for 12 months on balances up to £1,500 for the first year. You must pay in £1,000 or more each month to receive interest (excluding transfers from any Nationwide account held by you or anyone else). 12 month fee-free arranged overdraft available. No monthly fee. Access to Flexclusives - Select Credit Card and low personal loan rate. Must be aged 18 or older. Bank is registered with the Financial Services Compensation Scheme (FSCS), so any money you keep will be fully protected, up to £85,000
Why we like it: Everyday current accout. No monthly account fee. Access to Flexclusives - Select Credit Card and low personal loan rate. Bank is registered with the Financial Services Compensation Scheme (FSCS), so any money you keep will be fully protected, up to £85,000
Why we like it: UK & Europe Breakdown Cover, Worldwide family travel and mobile phone insurance, and commission-free cash withdrawals and card payments abroad. Free mobile banking app, text alerts and secure online banking. Access to Flexclusives - Select Credit Card and low personal loan rate. £13 monthly account fee. Bank is registered with the Financial Services Compensation Scheme (FSCS), so any money you keep will be fully protected, up to £85,000
B current and savings account
If you like the idea of an interactive current account which allows you to manage your finances while you’re on the move, the new "B" account from Clydesdale Bank and Yorkshire Bank could be worth a look.
B includes, as standard:
- A current account
- A savings account
- An easy-to-use app for tablet and mobile
Launched in 2016, the app-based B account is available on both Apple and Android devices, so you can log on whenever you want and set up savings pots, tag and track spending or automatically sweep cash between current and savings accounts. You can also link any offset mortgage you hold with Clydesdale or Yorkshire Bank to your B current or instant savings account to help reduce the amount of interest you owe.
Why is this app different?
It’s packed full of super-smart features to give you a clearer view of how you spend and save. It’s an intuitive app that can learn and grow as you use it, to help you manage your money. You’ll need to use both your compatible tablet and smartphone to get all of the features.
The account “learns” about the way you spend and save money and can help predict where you are likely to end up overdrawn at the end of the month, or if you’ll have enough to cover all your outgoings.
It also allows you to set up lots of different savings pots within the same account, so that you can save towards different goals. For example, you might decide to save £50 a month, and allocate £20 of this to a savings pot to put towards a holiday, and the remaining £30 into a savings pot to help you buy a new car.
Useful Information to Know
- The B current account pays 0.25% interest on balances up to £2,000, and nothing on any part of your balance that is higher than this
- The B savings account pays 0.75% per year
- If you set up an agreed overdraft on your B account, you’ll be charged an equivalent annual rate (EAR) of 12.5%, plus a £6 monthly fee
- There is a two day grace period for you to clear your overdraft when you go into the red, as well as a £25 buffer before any fees are charged.If you go overdrawn without arranging it first, you’ll be hit with a £6 daily charge with a £10 buffer and two day grace period
- There is no monthly account fee
The B current and savings account is a great choice for those who struggle with budgeting or would like more a more streamlined and easy to use internet banking system. Being able to organise your savings into various ‘pots’ is a great idea and takes the hassle out of saving. It’s an inexpensive option with no monthly account fee, but you could find yourself spending more if you use your overdraft often. The lower interest rates also may not suit everyone.
