This comparison simply includes all savings accounts.
Best Current Account To Switch To
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. Must be aged 18 or older.
Why we like it: 3.0% AER fixed interest on balances up to £2,500. No fees on arranged overdrafts up to £250. UK & Europe Breakdown Cover, Worldwide family travel insurance. Free mobile banking app, text alerts and secure online banking. £13 monthly account fee
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: Free gift worth up to £150 for switching into account. £250 interest free overdraft. Free banking if paying over £1,000 per month. Satisfaction guarantee - £100 if you leave within 6 months
Why we like it: Everyday current account. 3 months interest-free overdraft and no monthly account fee
Why we like it: Earn rewards of up to £180 a year when you bank with Barclays - Get an annual loyalty reward of £84 plus £60 on your Barclays residential mortgage and £36 on your Barclays home and contents insurance. Start earning rewards with a monthly £3 fee based on £800 paid into your account and 2 direct debits paid out every month
Compare the best current accounts to switch to
Many customers stick with the same current account for years, never really giving much thought to whether they are getting a good deal or not. In reality, the features and benefits of current accounts, including the interest rates they pay on your balance vary significantly between providers.
If you have not compared current accounts recently, there is a good chance that you are not getting the best deal currently available and it is well worth looking around to see what different providers have to offer you.
What to look for in a current account
There are various features to look out for when deciding which is the best current account to switch to. Depending on your financial situation and personal circumstances, the importance of these factors will likely differ, as will which current account is best for you.
If you are likely to stay in credit, the interest rate you earn can make a big difference. Likewise, if you are in your overdraft a lot, the interest you are charged can soon add up.
Many banks and building societies offer cash rewards for switching your current account to them, as well as other introductory offers which may appeal.
Many current accounts require you to pay in a minimum amount to open the account and a minimum amount each month to keep it.
While current accounts don’t tend to have a maximum deposit as such, they do normally only pay interest up to a certain balance. If you are likely to be significantly in credit, make sure you choose an account with a high interest threshold or explore other options for your savings.
Many current accounts are free, but some charge a monthly account fee. These tend to offer extra features, but make sure you know what you are getting for your money so you can decide whether it is worth it.
Many current accounts offer cashback when you use the account to pay household bills. This can soon add up and is well worth looking into if you are a regular bill payer.
If you need an overdraft, make sure to check what the limit is and what costs there are associated with it e.g. interest rates, fees for going over your limit etc.
Many current accounts offer additional benefits, such as free anti-virus software, railcards and more. These can add up to significant savings if those benefits are useful to you.
Current account best buys
First Direct Current Account allows you to open an account with just £1 and give you a free £250 overdraft and £100 for switching.
TSB Classic Plus pays one of the best rates of interest at 3% AER on balances up to £1,500. This is a better rate than many savings accounts. You can also get up to £10 cashback every month.
Santander 123 Account pays an attractive 1.5% AER on your entire balance up to £20,000. This is a much higher limit than many current accounts, so a good option for those with significant savings.
Find the best current account to switch to
Knowing which current account offers you the best deal can be a challenge and most customers don’t want to spend hours researching all of the different options before making a decision.
Our current account comparison tool (see the top of the page) makes life much simpler. It shows you the best deals on current accounts available now from all the leading lenders, making it quick and easy to compare the different accounts and see which offers the best deal for you.