This comparison simply includes all savings accounts.
Best Current Bank Accounts
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
Best Current Bank Accounts
When it comes to the ‘best’ current account, it really depends on your circumstances and what you’re looking for in a bank account.
That being said, there are some great current accounts offering rewards, incentives and high rates of interest at the moment so it’s worth shopping around and making sure your account is working for you.
Here are a selection of current accounts which we think could be the best for you at the moment:
Best for Interest on Lower amounts
TSB Classic Plus - 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 – however, this is for one year at a fixed rate of 5% before falling to 1% in subsequent years.
Best for interest on Higher amounts
Santander 123 - This account wins for those with savings above £10,000 - or will once the others banks' rate cuts have come into effect.
Currently, you can get 3% on balances from £3,000 to £20,000, but from 1 November 2016 it will chop its headline rate and will pay 1.5% on up to £20,000. Even after that though, it will still be a winner for many bigger savers.
This account does have a £5/month fee which is automatically taken from the account each month but for most users that's more than covered by the 3% cashback this account gives on utility bills paid by direct debit from the account. Cashback is paid directly in to your account.
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.
Best Switch Reward
Halifax Current Account- this account has some great features including a £100 switch reward, paid into 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.
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.
Best Cashback Rewards
NatWest Reward Account - There are no monthly payments on this account making it a great option for those who are unable to meet the high minimum payment requests of some other accounts.
There is, however, a £3 charge per month.
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.
The scheme is quite simple, you can automatically earn 3% on seven kinds of household bills, including council tax. As soon as you reach £5 in rewards you can exchange it for £5.
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 use our website to find out further details on each of these accounts and more.