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This comparison simply includes all savings accounts.

NatWest
Select Current Account Natwest
Open With £0
Account Type Current Account
Features Get £150 when you Switch

Why we like it: SPECIAL OFFER - Get £150 if you switch from another bank with Current Account Switcher Service until 5pm on 07/04/22. Terms & Conditions apply. Fee Free Account. An everyday current account. Great money management tools with our mobile banking app. ‘Criteria Apply’. Multiple ways to pay: Apple Pay, Google Pay™ and Contactless Visa Debit Card. Limits apply. Arranged overdraft available (subject to eligibility). No monthly fee. Defaqto 5* rated. Must be 18 or older and UK resident. Representative example: If you use an arranged overdraft of £1,200 you’ll be charged interest at 39.49% EAR variable. To apply you need to be 18+ and a UK resident. No monthly fee. For Switcher offer pay in at least £1250 and log into mobile banking by 12/05/22. Online only and account and app eligibility criteria apply

NatWest
Reward Current Account Natwest
Open With £1250
Account Type Current Account
Features Get £150 when you Switch

Why we like it: SPECIAL OFFER - Get £150 if you switch from another bank with Current Account Switcher Service until 5pm on 07/04/22. Terms & Conditions apply. Earn £4 a month back in Rewards by making a minimum of 2 direct debit payments of at least £2 each, or earn £1 a month in rewards with 1 mobile app login. Earn Rewards that you can redeem as cash back, gift cards or e-codes with our retail partners. Great money management tools with our mobile banking app. ‘Criteria Apply’. Arranged overdraft available (subject to eligibility). Multiple ways to pay: Apple Pay, Google Pay™ and Contactless Visa Debit. Must be 18 or older and UK resident. Customers need to pay at least £1,250 into any eligible personal current account every month (excludes transfers between your own accounts). Must not currently hold 2 Reward accounts. £2 monthly fee. Representative example: If you use an arranged overdraft of £1,200 you’ll be charged interest at 39.49% EAR variable. To apply you need to be 18+ and a UK resident. No monthly fee. For Switcher offer pay in at least £1250 and log into mobile banking by 12/05/22. Online only and account and app eligibility criteria apply

Santander
Everyday Current Account Santander
Open With £1
Account Type Current Account
Features £140 Cashback when you Switch

Why we like it: SPECIAL OFFER – £140 when you switch to Santander Everyday Current Account. T&Cs apply. 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. £140 cashback when you complete a full switch to a Santander Everyday Current Account within 60 days, set up 2 Direct Debits, pay in £1,000 and log into Online or Mobile Banking. T&Cs apply.

Hampshire Trust Bank
120 Day Notice Account Hampshire Trust Bank
Min deposit £1
Term 120 Day Notice
Interest AER 0.9%

Why we like it: Interest paid annually. Open in a single or a joint name. Maximum deposit £250,000. FSCS Protected. Winner of Platinum Feefo Trusted Service Award in 2021. Must be UK resident and be aged 18 or older. Unlimited withdrawals subject to 120 days notice

First Direct
1st Account First Direct
Open With £1
Account Type Current Account
Features Get £130 when you Switch

Why we like it: SPECIAL OFFER - £130 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. To qualify, switch using the Current Account Switch Service, deposit £1000 within 3 months of account opening. New customers only that have not opened a HSBC account on or after 1 Jan 2018

Santander
123 Current Account Santander
Open With £500
Account Type Current Account
Features £140 Cashback when you Switch

Why we like it: SPECIAL OFFER – £140 cashback when you switch to a Santander 1|2|3 Current Account. T&Cs apply. Earn 0.30% AER (variable) interest on balances up to a maximum of £20,000. Up to 3% cashback on household bills - 1% on council tax bills, Mobile and home phone bills, broadband and paid-for TV packages, and Santander monthly mortgage payments. 2% on Gas and electricity bills, Santander Home Insurance premiums and Santander Life Insurance premiums, and 3% on water bills. Monthly fee of £4. 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. £140 cashback when you complete a full switch to a Santander 1|2|3 Current Account within 60 days, set up 2 Direct Debits, pay in £1,000 and log into Online or Mobile Banking. T&Cs apply.

Santander
123 Lite Current Account Santander
Open With £500
Account Type Current Account
Features £140 Cashback when you Switch

Why we like it: SPECIAL OFFER – £140 cashback when you switch to a Santander 1|2|3 Lite Current Account. T&Cs apply. Up to 3% cashback on selected household bills, capped at £5 for each cashback tier each month. Earn up to 15% cashback with Retailer Offers. Easy to manage online or on mobile app. Get access to a range of 123 offers. Arranged Overdraft facility (subject to status) - 39.94% APR / EAR (variable). Must be 18 or older and UK resident. Customers must pay a minimum of £500 into account each month, have 2 active Direct Debits, log onto Online or Mobile Banking at least once every 3 months. Must not currently hold 2 Reward accounts. £2 monthly fee. £140 cashback when you complete a full switch to a Santander 1|2|3 Lite Current Account within 60 days, set up 2 Direct Debits, pay in £1,000 and log into Online or Mobile Banking. T&Cs apply.

Starling Bank
Mobile App Bank Account Starling Bank
Open With £0
Account Type Mobile Bank Account
Features Fee FREE Account Pays 0.05% AER

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. Voted best British Bank and Best Current Account 2018 - 2021 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

Investec Savings
Fixed Rate Bond Investec Savings
Min deposit £5000
Term 1 Year
Interest AER 1.36%

Why we like it: Market Leading 1 Year Fixed Rate Bond. Interest paid on maturity. Automatic repayment to your linked account. Maximum deposit £250,000. FSCS Protected. Must have a UK residential address and be aged 18 or older. No withdrawals permitted. Can’t have held an Investec Online Flexi Saver or Fixed Rate Saver in the last 12 months

QIB UK Bank
Fixed Rate Bond QIB UK Bank
Min deposit £1000
Term 2 Years
Interest AER 1.60%

Why we like it: Register for a free Raisin UK Account to apply for product and receive a £50 cash bonus (terms apply). Interest paid on maturity. Maximum deposit £85,000. FSCS Protected. Must be UK resident and aged 18 or older. No withdrawals permitted

Investec Savings
Online Flexi Saver Investec Savings
Min deposit £5000
Term Instant Access
Interest AER 0.71%

Why we like it: Instant access to your savings. Unlimited deposits and withdrawals. Interest paid monthly, either to a linked current account, or adding it to your Online Flexi Saver account. Easy application process, you just need a UK mobile phone and UK driving licence or passport. Manage account online. Maximum balance £250,000. Must be aged 18 or older and have a UK address. Must have a linked UK current account. Your eligible deposits with Investec Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS)

Leeds Building Society
Online Easy Access Account Leeds Building Society
Min deposit £1000
Term Instant Access
Interest AER 0.6%

Why we like it: Interest paid annually. Unlimited deposits and withdrawals. Open and manage online. FSCS Protected. Must be UK resident and be aged 18 or older

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Basic Current Account

Every major bank will offer some form of basic account but often don't advertise them.

They’re a great option if you need a standard account that does everything you would expect.

The Advantages of Basic Current Accounts

Basic bank accounts are open to almost everyone and therefore, are a great option for anyone who has had credit problems in the past or people who have been turned down for a standard current account.

They are also very useful for people who just want a standard bank account which does the bare minimum. They are a convenient way to manage your money as you can pay Direct Debits; cash and cheques in to your account and receive any kind of payment, such as your salary or benefits.

You have a complete control over your account as you can only withdraw or spend what you actually have. This is great for people on a strict budget or who have been bitten by charges in the past. As basic bank accounts do not normally charge fees, they are a perfect way to avoid this.

What are the Disadvantages?

The main disadvantage of these types of accounts are the lack of options. It really is just a standard account, so if you’re looking for overdraft facilities, high interest or even a cheque book, you won’t find them here. Some basic accounts also don’t let you set up standing orders.

Some of the best basic accounts currently on offer include:

Barclays Basic Current Account

A basic account that offers free, no-frills banking for customers who may not be able to open a regular current account. You can qualify for this account if you don't qualify for one of their other accounts and/or you have no existing bank current account in the UK.

With this account you can:

  • Choose between a Barclays Visa debit card or a cash card for ATM withdrawals only
  • Make payments from your Barclays Basic Current Account by Direct Debit or standing order
  • Withdraw up to £300 a day
  • Manage your account online, by phone or in branch
  • Manage your account online by registering for Barclays Online Banking

Co-operative Cashminder Account

A Cashminder is a basic account for people who may not qualify for other kinds of current account. You cannot open a Cashminder if you already hold a Co-operative Bank or Smile current account, unless you are in financial difficulty.

  • No overdraft facility, cheque book or monthly charge
  • Available as a joint account.
  • Visa Debit Card provided
  • Full internet and mobile banking facilities

Virgin Money Essential Current Account

A basic account designed to be managed through Virgin Money Stores and at any Post Office. They offer:

  • No overdraft facility (helping you to avoid overspending)
  • Free withdrawals at almost all UK high street cash machines
  • An opportunity to earn interest on your account (a rare thing for basic accounts)
  • Online Banking
  • All the perks of being a Virgin Money customer.

Seven other banks currently offer these types of account, but the above three are known for proactively helping customers to get some form of account with them and will not reject you from these accounts provided you meet their criteria and can provide ID.

As it is not financially viable for banks to provide these basic accounts to customers, many institutions will not automatically offer them to applicant who are rejected for a Current Account. Always make sure you ask or browse a bank's website for other options if you are rejected for your preferred option.

Are there any alternatives to a basic bank account?

If you’ve been turned down for a basic bank account because of bad credit, or if you just want an account with more facilities and services, you could try a bad credit account. These accounts are specifically designed for people who are looking to rebuild their credit.

Latest news

Top 3 picks for current accounts in 2021

Over 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. Read More »

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Simplysavingsaccounts.co.uk is a trading style of Fair Investment Company Ltd.

We've been comparing savings and current accounts for many years so you can trust you're in good hands.