This comparison simply includes all savings accounts.
Best Current Account To Switch To
Why we like it: Unlimited deposits and withdrawals. Interest paid monthly: can be added to your Notice Saver or paid to your linked account. Easy application process, you just need a UK mobile phone and UK driving licence or passport. Manage account online. Maximum balance £250,000. Withdrawals subject to 90 days notice. Must be aged 18 or older and have a UK address. Must have a linked UK current account
Why we like it: MARKET LEADING INSTANT ACCESS ACCOUNT. Unlimited payments and withdrawals. 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
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
Why we like it: Easy access savings account that tracks the Bank of England base rate. Wave goodbye to the constant cycle of account hopping and forget waiting for banks to pass on higher interest rates. Interest rate moves with the Bank of England base rate, guaranteeing a fixed margin of up to 0.5% below, and adjusts the very next day. Easy access to your money with once a month withdrawals, without notice and without fees. Earn daily interest on your money, and experience the power of compounding to make your savings work harder. Maximum deposit £250,000. Wombat has partnered with GB Bank to bring you the Base Rate Tracker. GB Bank is an award-winning, fully authorised and regulated UK bank. FSCS eligible on your deposits. Must be UK resident. Must be aged 18 or older
Why we like it: A new savings account from Chip built to move with the Bank of England and reward you faster than the banks. Interest paid monthly. Deposit and withdraw almost instantly. No fees or charges for holding account. FSCS eligible on your deposits. Must be UK resident. Must be aged 18 or older.
Why we like it: Tiered interest: £1 to £10,000 – 4.80% Gross/AER, £10,001 to £50,000 – 4.80% Gross/AER, £50,001 to £500,000 – 4.80% Gross/AER. Unlimited payments and withdrawals. Interest paid annually. Open in a single or a joint name. Maximum deposit £500,000. Open and manage account online. FSCS Protected. Must be UK resident. Must be aged 16 or older
Why we like it: Choose monthly or annual interest payments. Unlimited deposits and withdrawals. 24/7 access to your savings. Open and manage online. After 12 months the rate will revert to the underlying rate, currently 1.55% gross/AER variable. Post Office Online Saver is provided by Bank of Ireland UK. Must be UK resident. Must be aged 18 or older. FSCS protected
Why we like it: Which? Recommended Savings Provider. No notice period. Deposit from £100. Interest paid monthly or annually. Apply in minutes. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services. Compensation Scheme (FSCS)
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)
Why we like it: Interest paid monthly or annually. Open in a single or joint name. Unlimited deposits and withdrawals. Covered by the FSCS. Must be UK resident. Must be aged 16 or older
Why we like it: All funds deposited into the RCI Bank E-Volve Savings 14 Day Notice Account will be used to fund pure electric vehicles and charging facilities. Interest paid monthly or annually. Manage account online. UK-based support, seven days a week. Which? Recommended Savings Provider. Unlimited withdrawals subject to 14 days notice. Must be UK resident. Must be aged 18 or older. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS)
Why we like it: MARKET LEADING 6 MONTH FIXED RATE BOND. Interest paid at maturity. 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. No withdrawals permitted
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.
Interest rates
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.
Joining bonuses
Many banks and building societies offer cash rewards for switching your current account to them, as well as other introductory offers which may appeal.
Minimum deposits
Many current accounts require you to pay in a minimum amount to open the account and a minimum amount each month to keep it.
Maximum deposit
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.
Fees
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.
Cashback
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.
Overdraft
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.
Additional benefits
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 the option of a linked Regular Saving paying 1.00% AER/gross fixed for 12 months.
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.
