This comparison simply includes all savings accounts.
B Current And Savings Account
Why we like it: 5.00% interest for 12 months on balances up to £2,500 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. Recommend a friend - If you're a Nationwide member you can earn up to £500 per tax year by recommending five friends (£100 each). Access to Flexclusives - Select Credit Card and low personal loan rate. 3.0% APR Representative. Must be aged 18 or older
Why we like it: Earn 1.50% AER (variable) interest on balances up to a maximum of £20,000. Up to 3% CASHBACK on various household bills. Monthly fee of £5. Must pay in £500 pm.
Why we like it: 0.50% AER (variable) payable on your entire balance up to £2,000. Linked to instant access savings account currently paying 1.00% AER, paid quarterly. Zero transaction fees wherever you spend worldwide (arranged and un-arranged lending, other providers & other fees and interest may still apply). Apple Pay & Google Pay enabled contactless debit card. Rated ‘outstanding’ by Moneyfacts. Must be 18 or older and a UK resident. No account fee. No minimum funding required to open account or requirement to pay in regularly
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. Recommend a friend - If you're a Nationwide member you can earn up to £500 per tax year by recommending five friends (£100 each). Access to Flexclusives - Select Credit Card and low personal loan rate. £13 monthly account fee
Why we like it: Everyday current accout. No monthly account fee. Recommend a friend - If you're a Nationwide member you can earn up to £500 per tax year by recommending five friends (£100 each). Access to Flexclusives - Select Credit Card and low personal loan rate. 3.0% APR Representative (terms and conditions apply)
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.
