This comparison simply includes all savings accounts.
Best Current Account Switch
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. 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: Get £125 when you switch a current account held elsewhere to this account. Earn 2% in Rewards on 7 types of household bills paid by Direct Debit. On average Reward customers earn £83 a year in Rewards (not incl. monthly fee) based on monthly bills of £345. Also includes family worldwide travel and mobile phone insurance. £20 monthly fee
Disclaimer: To apply for this account you must be aged 18 or over and a UK resident
Why we like it: Get £125 when you switch a current account held elsewhere to this account. Earn 2% in Rewards on 7 types of household bills paid by Direct Debit. On average Reward customers earn £83 a year in Rewards (not incl. monthly fee) based on monthly bills of £345. Also includes personal European travel and mobile phone insurance. £10 monthly fee
Disclaimer: To apply for this account you must be aged 18 or over and a UK resident
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)
Why we like it: Everyday current account. No monthly account fee. Get a contactless Visa Debit Card. Pay with your phone with Apple Pay and Google Pay™ and bank on the go with our easy to use Mobile Banking app. Must be 18 or older and UK resident
Disclaimer: To apply for this account you must be aged 18 or over and a UK resident
Why we like it: Everyday current account. No monthly account fee. Get a contactless Visa Debit Card. Pay with your phone with Apple Pay and Google Pay™ and bank on the go with our easy to use Mobile Banking app. Must be 18 or older and UK resident
Disclaimer: To apply for this account you must be aged 18 or over and a UK resident
Best Current Account Switch
Switching your current account has never been easier and many banks are providing attractive incentives to lure in new customers.
Switching your current account can be carried out online in a simple and streamlined way which requires minimal effort on the customer’s part. The switching service will move all of your money, direct debts and standing orders over to your new account, usually within seven days.
There are many accounts on offer and finding the best one for you can be challenging, but higher rates of interest and cashback rewards are just two common incentives which can make it worth your time.
Which Current Account Should I Switch to?
Current Accounts Best for Interest
One of the best accounts for interest on lower amounts is the TSB Classic Plus Account. This account has one of the lowest minimum monthly pay-ins at £500 per month, so is well-suited to anyone who finds it difficult to meet the minimum payments of some other accounts.
They also offer one of the highest rates of interest on balances of up to £2,000. Interest is paid monthly and to earn it you simply pay in a minimum of £500 a month and register for Internet Banking, paperless statements and paperless correspondence.
Bonus:
- One of the biggest incentives on offer is the opportunity to earn 5% cashback a month on the first £100 of contactless payments. This includes Apple and Android Pay, up until 30 September 2017
Other accounts that offer great interest on lower amounts:
- Nationwide Flexplus account. This account currently offers the highest rate on the market, however, this is for one year at a fixed rate of 5% before falling to 1% in subsequent years
Currently, the account paying the highest amount of interest for larger deposits is the Santander 123. This is a great account for those with savings above £10,000. Although Santander are currently planning to cut the Santander 123 headline rate, it will still be a great option for bigger savers.
Bonus:
- You are also able to have two accounts in your name, but one must be joint – meaning couples can save £60,000 between them
Current Accounts Best for Switch Rewards
There are some great switch rewards on offer at the moment.
One example, the Halifax Current Account, has some great reward features including a £100 switch reward, paid in to your account before your switch is complete.
Bonus:
- If you’re able to pay £750 or more in to your account, pay out at least 2 different direct debits and stay in credit each month, you could earn £5 each month with their Reward Current Account
Combine this option with the Switch Reward and you could earn £160 in a year. This is one of the few accounts that pay both a switching bonus and an ongoing reward.
Some other accounts which also offer excellent Switch rewards include:
- First Direct, Co-operative and HSBC. These accounts are all offering £100 or more for switching
Current Accounts Best for Cashback
There are some great cashback accounts to switch to at the moment. The NatWest Reward Account is one of the best options as there are no monthly payments on this account making it very suitable for those who are unable to meet the high minimum payment requests of some other accounts.
There is, however, a charge per month of three pound. The rewards you can earn on this account are similar to the Santander 123 account in that you can earn cashback on your household bills.
As this account is a cheaper option than the Santander account, it’s a great choice for those who pay a lot of household bills out of one account and would like to see some return on that.
Other accounts offering cashback deals:
- TSB are currently offering 5% of cashback on the first £100 of contactless purchases
This is a brief overview of some of the excellent current accounts on offer at the moment, but please use our website to find out further details on each of these accounts and more.
