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This comparison simply includes all savings accounts.

FlexPlus Current Account Nationwide
Open With £1
Account Type Current Account
Interest AER 3.00%

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

First Direct
Current Account First Direct
Open With £1
Account Type Current Account
Features FREE £250 Overdraft £100 For Switching

Why we like it: £100 for switching into account. £250 interest free overdraft. Free banking if paying over £1,000 per month. £100 if not satisfied after 6 months

Reward Account Natwest
Open With £1
Account Type Current Account
Features 3% in Rewards

Why we like it: Top 20% of Reward Customers earn on average £217 - You can earn Rewards on Direct Debits from your current account for: • Council tax • Gas, electricity and water supply • Home and mobile phone, TV package and broadband fees

Disclaimer: To apply for this account you must be aged 18 or over. UK resident. Not been declared bankrupt in last 6 years.

Bank Account Barclays
Open With £1
Account Type Current Account
Features Earn rewards of up to £180

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

HSBC Current Account review

HSBC offer a range of current accounts. The Basic Bank Account is a very simple account which covers your basic banking needs.

To keep things simple, this account does not offer a cheque book, overdraft or other credit facilities. It also doesn’t pay any interest on your balance.

HSBC current account features

With a HSBC current account you can benefit from:

  • A Visa debit card
  • Cash withdrawals of up to £300 per day
  • Creating Standing Orders and Direct Debits plus making payments to friends and family
  • 24/7 telephone and internet banking
  • Up to £100 cashback at outlets nationwide when you pay with your debit card
  • Use your debit card to withdraw local currency at cash machines worldwide and pay for goods and services wherever you see the VISA logo

If you are looking for your account to work a bit harder then HSBC’s Advance or Premier accounts could be for you.

HSBC are currently offering the following rewards:

  1. Open and switch to one of these accounts and you will get £150
  2. Stay for a year and get a further £50 bonus
  3. Get a 0%, fee-free overdraft for six months when you open the account

To qualify for this account you must make a minimum monthly pay-in of £1,750 a month. This is higher than many current accounts, so consider whether you will be able to meet this before deciding to switch.

Additional incentives with HSBC current accounts

  • A minimum overdraft offer of £1000 at account opening
  • Reduced booking fees on HSBC's Standard Mortgage range
  • You will be eligible for HSBC's 5% regular savings account

The switch bonus is also available if you are switching to HSBC's Premier Account. But you will need to either pay your income into it and have £50,000 of savings/investments with HSBC or have an income of £100,000+ a year, plus another qualifying product with HSBC.

Other Useful Information

  • You must open the account, then use HSBC's Current Account Switch Service to switch, including at least two Direct Debits or standing orders, within 30 days
  • The bonus is paid within 70 days of opening the Advance Account – provided you have met the switching criteria in the bullet above
  • You cannot get the bonus if switching from another HSBC account, or if you have had a current account with it in the past twelve months
  • To get the £50 extra bonus, you need to register for mobile or online banking within 60 days of account opening and pay in £1,750 per month for at least nine of the first 12 months. The bonus will be sent within 30 days of your first anniversary of account opening.
  • HSBC shares its £75,000 UK savings safety guarantee with First Direct, so if you hold more than £75,000 across the two banks the excess will not be protected

Overall HSBC offers a great basic bank account if you just want a functioning account with no complications. Meanwhile, their Advanced and Premier accounts provide some great rewards and incentives for those who are able to meet the monthly requirements.

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About us is a trading style of Fair Investment Company Ltd.

We've been comparing savings and current accounts for many years so you can trust you're in good hands.