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This comparison simply includes all savings accounts.

Santander
Everyday Current Account Santander
Open With £1
Account Type Current Account
Features Fee FREE Account Earn up to 15% cashback

Why we like it: No minimum monthly funding or monthly fee to maintain the account. Earn up to 15% cashback with Retailer Offers. Stress-free account switching in 7 days with the Current Account Switch Service. £300 ATM withdrawal per day, Arranged Overdraft facility (subject to status). Online and Mobile Banking with text and email alerts. Must be 18 or older and live in the UK permanently. 39.94% EAR overdraft charge. Bank is registered with the Financial Services Compensation Scheme (FSCS), so any money you keep will be fully protected, up to £85,000

Nationwide
FlexAccount Current Account Nationwide
Open With £1
Account Type Current Account
Features Fee FREE Account

Why we like it: Everyday current accout. No monthly account fee. Access to Flexclusives - Select Credit Card and low personal loan rate. Bank is registered with the Financial Services Compensation Scheme (FSCS), so any money you keep will be fully protected, up to £85,000

Starling Bank
Mobile App Bank Account Starling Bank
Open With £0
Account Type Mobile Bank Account
Features Fee FREE Account Pays 0.05% AER

Why we like it: Free current account. Pays 0.05% AER interest on balances up to £85,000. Get set up in minutes. Send money abroad: Fast and secure money transfers to bank accounts in 38 countries worldwide. No fees when you pay with your card abroad or withdraw money. Get a spotlight on your spending: See what you’ve spent instantly with real-time payment notifications. 3 month interest holiday on the first £500 of an arranged overdraft. Best British Bank and Best Current Account in 2020 at the British Bank Awards. Awarded 5 stars by Defaqto. Bank is registered with the Financial Services Compensation Scheme (FSCS), so any money you keep will be fully protected, up to £85,000

Santander
123 Current Account Santander
Open With £500
Account Type Childrens Current Account
Features 0.30% AER Interest Up To £20,000 £5 pm Account Fee

Why we like it: Earn 0.60% AER (variable) interest on balances up to a maximum of £20,000. Up to 3% CASHBACK on various household bills. Monthly fee of £5. Cashback capped at £5 for each cashback tier each month. Must pay in £500 pm. Bank is registered with the Financial Services Compensation Scheme (FSCS), so any money you keep will be fully protected, up to £85,000

Nationwide
FlexDirect Current Account Nationwide
Open With £1000
Account Type Current Account
Features 2% AER Interest (T&Cs)* Fee Free Account

Why we like it: *2.00% interest for 12 months on balances up to £1,500 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. Access to Flexclusives - Select Credit Card and low personal loan rate. Must be aged 18 or older. Bank is registered with the Financial Services Compensation Scheme (FSCS), so any money you keep will be fully protected, up to £85,000

Nationwide
FlexPlus Current Account Nationwide
Open With £1
Account Type Current Account
Features Free insurance £13 pm Account Fee

Why we like it: UK & Europe Breakdown Cover, Worldwide family travel and mobile phone insurance, and commission-free cash withdrawals and card payments abroad. Free mobile banking app, text alerts and secure online banking. Access to Flexclusives - Select Credit Card and low personal loan rate. £13 monthly account fee. Bank is registered with the Financial Services Compensation Scheme (FSCS), so any money you keep will be fully protected, up to £85,000

Santander
123 Mini Current Account Santander
Open With £0
Account Type Childrens Current Account
Features Children 18 or under 3% AER Interest (T&Cs)

Why we like it: Can be opened by or on behalf of any child up to the age of 18. Debit or cash card available for those aged between 13 and 18. Monthly interest. No monthly fee. For children under age 13, the account must be opened in trust and managed by an adult (trustee). If you’re aged between 13 and 18 years old and live permanently in the UK you can apply online by telephone or in branch. No overdraft facility. 1% interest on the entire balance once the balance is £100, 2.00% AER/1.98% gross (variable) on the entire balance once the balance is £1,500, 3.00% AER/2.96% gross (variable) on the entire balance once the balance is £1,500 or over (up to a maximum of £2,000). Bank is registered with the Financial Services Compensation Scheme (FSCS), so any money you keep will be fully protected, up to £85,000

Metro Bank Current Account

This current account is a great all-rounder and particularly good for those who frequently travel around Europe due to the free European transactions. You won’t be charged for taking cash out in European countries or using your card.

Metro Bank also offer excellent competitive rates for the rest of the world (2.50%) allowing you to save as you travel. They also add that if you use your card abroad, then any foreign currency transaction would be converted into sterling on the day it’s paid out of your account.

This account is suitable for busy people who find the normal banking hours difficult to work around. This is due to the fact that Metro Bank are open 7 days a week and work from 8am-8pm. They don’t require appointments so it’s very much a walk-in service. They offer simple and hassle-free switching and will provide you with a bankcard and a cheque book on the day you walk in, so there is no need for seven day waits as is often the case.

Metro Bank deliver a straight forward service that covers everyday banking and has all of the usual expectations of a current account such as:

  • Internet Banking
  • Excellent Customer Service
  • Ability to set-up payments, Direct Debits and make transfers.

Metro Bank do not charge a monthly fee nor is there a minimum pay-in per month which sets it apart from a lot of other banks at the moment.

Overdraft and Fees:

An overdraft is available upon request, depending on your circumstances, and is charged at 15% EAR (variable).  This is one of the better rates on the market but it does not come with an amount at 0% like a lot of other banks.

However, if you don’t have enough money in your account to make a payment they will extend an arranged overdraft and make the payment but this will incur a charge of £10. If you decide not to make the payment you will still incur the £10 fee.
They do not make more than six of these charges in one month.

They also state that if a deduction of interest causes your account to become overdrawn or goes over your planned overdraft then they won’t charge the £10 fee but will instead charge interest on the new balance.

As they process all Direct Debits, standing orders and dated payments in the morning they will let you know if you do not have the amount ready to cover the payments via text message. If you pay the money in before 2am then they will reissue the payment and you won’t be charged.

Metro Banks also offer a range of savings accounts, such as a:

Fixed Savings Account

A savings account for money you don’t need too often.They offer a fixed rate of interest between 0.90% and 1.20%. The rate of interest is fixed so you will know what you’re accumulating. With this option you are able to choose how long you want to put your money away for. Options include: 1 year, 18 months or 3 years.

Instant Access Savings

A more flexible savings option allowing you to save what you want, when you want and you will be able to get instant access to your cash if you need to. You will be able to boost your savings with 0.40% AER interest. Start earning interest on as little as £100. You will be able to access your savings anytime online, over the phone or in one of the branches.
Overall, Metro bank offer a convenient option with some perks for people who travel often.

Latest news

Top 3 picks for current accounts in 2021

Over 5.1 million UK bank and building society customers have switched their bank accounts using the free (and guaranteed) current account switching service which simplifies the process for customers. Read More »

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Simplysavingsaccounts.co.uk 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.