£175 when you switch to a NatWest Select or Reward account and open a Digital Regular Saver. T&Cs apply, limited availability offer*
Why we like it
An everyday current account. To apply you need to be 18+ and a UK resident. No monthly fee. Great money management tools with our mobile banking app. Multiple ways to pay: Apply Pay and Google Pay TM and contactless Visa Debit Card. Limits apply. Access to Digital Regular Saver – deposit £ 1 - £150 pm. 5.50% / 5.37% AER/Gross p.a. (variable) on first £5k. 1.15% / 1.14% AER/Gross p.a (variable) above £5k. Arranged overdraft available (subject to eligibility and lending criteria). Representative Example: Effective Annual Rate: 39.49% EAR (variable). Representative APR: 39.49% APR (variable). Assumed credit limit: £1,200. How does our overdraft compare? A good way to compare the costs of borrowing products is by using the APR, which shows the cost of borrowing over a year. The monthly cap on unarranged overdraft charges for our standard adult current accounts is £18.80. What’s the cost of borrowing £500: Zero days (you’ve not yet used your overdraft) – you’d pay in total £0.00. One day – you’d pay in total £0.46. Five days – you’d pay in total £2.31. Seven days - you’d pay in total £3.24. Thirty days – you’d pay in total £13.87. Offer T&Cs: For £125 use the Current Account Switch Service to close your current account held elsewhere and switch to NatWest. Pay in at least £1250 and log into the NatWest app within 60 days. For an additional £50, open a new Digital Regular Saver account within 60 days of switching. If you’ve previously received a switching incentive from NatWest Group you aren’t eligible. Limited availability offers. T&Cs and restrictions apply. Specific account eligibility criteria and conditions apply.
£175 when you switch to a Royal Bank of Scotland Select or Reward account and open a Digital Regular Saver. T&Cs apply, limited availability offer*
Why we like it
An everyday current account. To apply you need to be 18+ and a UK resident. No monthly fee. Great money management tools with our mobile banking app. Multiple ways to pay: Apply Pay and Google Pay TM and contactless Visa Debit Card. Limits apply. Access to Digital Regular Saver – deposit £ 1 - £150 pm. 5.50% / 5.37% AER/Gross p.a. (variable) on first £5k. 1.15% / 1.14% AER/Gross p.a (variable) above £5k. Arranged overdraft available (subject to eligibility and lending criteria). Representative Example: Effective Annual Rate: 39.49% EAR (variable). Representative APR: 39.49% APR (variable). Assumed credit limit: £1,200. How does our overdraft compare? A good way to compare the costs of borrowing products is by using the APR, which shows the cost of borrowing over a year. The monthly cap on unarranged overdraft charges for our standard adult current accounts is £18.80. What’s the cost of borrowing £500: Zero days (you’ve not yet used your overdraft) – you’d pay in total £0.00. One day – you’d pay in total £0.46. Five days – you’d pay in total £2.31. Seven days - you’d pay in total £3.24. Thirty days – you’d pay in total £13.87. Offer T&Cs: For £125 use the Current Account Switch Service to close your current account held elsewhere and switch to Royal Bank of Scotland. Pay in at least £1250 and log into the Royal Bank of Scotland app within 60 days. For an additional £50, open a new Digital Regular Saver account within 60 days of switching. If you’ve previously received a switching incentive from NatWest Group you aren’t eligible. Limited availability offers. T&Cs and restrictions apply. Specific account eligibility criteria and conditions apply.
SPECIAL OFFER - Switch to a 1st Account and get £175*. Requires credit check. New customers only and T&Cs apply.
Why we like it
Get access to a Regular Saver Account - Put away between £25 and £300 for a fixed 12 month term. If you save £300 every month for 12 months and qualify for the 7.00% AER/gross p.a. interest rate, you'll earn approximately £136.50 interest (gross). Interest is calculated daily and paid 12 months after you opened the account. AER stands for Annual Equivalent Rate. This shows you what the rate would be if interest were paid and compounded each year. Gross is the rate of interest if interest were paid and not compounded each year. No partial withdrawals allowed. Early closure will result in interest being paid at the standard account variable rate. £250 interest-free overdraft (subject to status). No minimum monthly funding and no monthly account fee. No first direct fees for when spending abroad, withdrawing cash from the UK or when making a debit card payment in a foreign currency in the UK. Mobile banking app. UK based contact centre. Representative Example: How does our overdraft compare? The representative APR shows the cost of borrowing over a year, so you can use it to compare the cost of our overdraft against other overdrafts and ways of borrowing. 0% EAR variable on the first £250, 39.9% EAR variable thereafter, giving a representative rate of 30.5% APR variable (assumed arranged overdraft £1,200). For customers with an offset mortgage linked to a 1st Account, the interest-free limit will not apply. *Within 45 days of your account opening you need to: switch to first direct using the Current Account Switch Service (including at least 2 Direct Debits or standing orders), deposit £1,000, make 5+ debit card payments, and log on to digital banking. New customers only, who haven’t previously held a first direct product. first direct also can’t offer this to people who have opened an HSBC current account on or after 1 January 2018. Offer can be withdrawn at any time. Subject to status. UK residents only
£175 when you switch to a NatWest Select or Reward account and open a Digital Regular Saver. T&Cs apply, limited availability offer*
Why we like it
Must be 18 or older and a UK resident. £2 monthly fee applies. Customers need to pay at least £1250 into any eligible personal current account every month (excludes transfers between your own accounts). Must not currently hold a Reward account. Earn up to £5 per month back: £4 in Rewards for 2 or more Direct Debits (2 of the Direct Debits need to be £2+ each) and £1 with 1 mobile app log in. Earn Rewards that you can redeem as cash back, gift cards or e-codes with our retail partners or gift to selected charities. Great money management tools with our mobile banking app. Multiple ways to pay: Apply Pay and Google Pay TM and contactless Visa Debit Card. Limits apply. Access to Digital Regular Saver – deposit £ 1 - £150 pm. 5.50% / 5.37% AER/Gross p.a. (variable) on first £5k. 1.15% / 1.14% AER/Gross p.a (variable) above £5k. Arranged overdraft available (subject to eligibility and lending criteria). Representative Example: Effective Annual Rate: 39.49% EAR (variable). Representative APR: 39.49% APR (variable). Assumed credit limit: £1,200. How does our overdraft compare? A good way to compare the costs of borrowing products is by using the APR, which shows the cost of borrowing over a year. The monthly cap on unarranged overdraft charges for our standard adult current accounts is £18.80. What’s the cost of borrowing £500: Zero days (you’ve not yet used your overdraft) – you’d pay in total £0.00. One day – you’d pay in total £0.46. Five days – you’d pay in total £2.31. Seven days - you’d pay in total £3.24. Thirty days – you’d pay in total £13.87. Offer T&Cs: For £125 use the Current Account Switch Service to close your current account held elsewhere and switch to NatWest. Pay in at least £1250 and log into the NatWest app within 60 days. For an additional £50, open a new Digital Regular Saver account within 60 days of switching. If you’ve previously received a switching incentive from NatWest Group you aren’t eligible. Limited availability offers. T&Cs and restrictions apply. Specific account eligibility criteria and conditions apply.
£175 when you switch to a Royal Bank of Scotland Select or Reward account and open a Digital Regular Saver. T&Cs apply, limited availability offer*
Why we like it
Must be 18 or older and a UK resident. £2 monthly fee applies. Customers need to pay at least £1250 into any eligible personal current account every month (excludes transfers between your own accounts). Must not currently hold a Reward account. Earn up to £5 per month back: £4 in Rewards for 2 or more Direct Debits (2 of the Direct Debits need to be £2+ each) and £1 with 1 mobile app log in. Earn Rewards that you can redeem as cash back, gift cards or e-codes with our retail partners or gift to selected charities. Great money management tools with our mobile banking app. Multiple ways to pay: Apply Pay and Google Pay TM and contactless Visa Debit Card. Limits apply. Access to Digital Regular Saver – deposit £ 1 - £150 pm. 5.50% / 5.37% AER/Gross p.a. (variable) on first £5k. 1.15% / 1.14% AER/Gross p.a (variable) above £5k. Arranged overdraft available (subject to eligibility and lending criteria). Representative Example: Effective Annual Rate: 39.49% EAR (variable). Representative APR: 39.49% APR (variable). Assumed credit limit: £1,200. How does our overdraft compare? A good way to compare the costs of borrowing products is by using the APR, which shows the cost of borrowing over a year. The monthly cap on unarranged overdraft charges for our standard adult current accounts is £18.80. What’s the cost of borrowing £500: Zero days (you’ve not yet used your overdraft) – you’d pay in total £0.00. One day – you’d pay in total £0.46. Five days – you’d pay in total £2.31. Seven days - you’d pay in total £3.24. Thirty days – you’d pay in total £13.87. Offer T&Cs: For £125 use the Current Account Switch Service to close your current account held elsewhere and switch to Royal Bank of Scotland. Pay in at least £1250 and log into the Royal Bank of Scotland app within 60 days. For an additional £50, open a new Digital Regular Saver account within 60 days of switching. If you’ve previously received a switching incentive from NatWest Group you aren’t eligible. Limited availability offers. T&Cs and restrictions apply. Specific account eligibility criteria and conditions apply.
Switching your bank 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.
