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This comparison simply includes all savings accounts.

FlexDirect Current Account Nationwide
Open With £1000
Account Type Current Account
Interest AER 2.00%

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

123 Current Account Santander
Open With £500
Account Type Current Account
Interest AER 0.6%

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.

Starling Bank
Mobile App Bank Account Starling Bank
Monthly Account Fee £0
Account Type Mobile Bank Account
Interest AER 0.05%

Why we like it: Get set up in minutes. No paperwork, monthly fees or branch visits. 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. Real Mastercard exchange rates and real-time notifications in both currencies. Get a spotlight on your spending: See what you’ve spent instantly with real-time payment notifications. Current account is completely free.: No charge for making electronic payments, domestic transfers or ATM withdrawals. Three-month interest holiday on the first £500 of an arranged overdraft. Earn Interest: current account pays 0.05% AER on balances up to £85,000.Card gone missing? Lock it in-app temporarily while you look for it or cancel it with a tap if you think it’s gone for good. Personal loan available that’s straightforward to use, competitively priced and tailored to you. Best British Bank and Best Current Account in 2018, 2019 and 2020 at the British Bank Awards. Awarded 5 stars by Defaqto too. Fully registered bank and a member of the Financial Services Compensation Scheme (FSCS), so any money you keep will be fully protected, up to £85,000

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

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

FlexAccount Current Account Nationwide
Open With £1
Account Type Current Account
Features No monthly account fee

Why we like it: Everyday current accout. No monthly account fee. Access to Flexclusives - Select Credit Card and low personal loan rate.

Nationwide FlexDirect Current Account

Nationwide Building Society, the second-most-switched-to bank at the moment, is offering a FlexDirect account which could be right for you.

With a simple set of overdraft fees and somewhere guaranteed for your savings, Nationwide FlexDirect pays 5% AER fixed for a year on £2,500, which would give you a maximum £122.25 interest. This rate is fixed for the first year you hold the account, which gives some security in a world of uncertain savings rates. The rate falls to 1% in subsequent years.

To qualify for the interest, you'll need to pay in £1,000+/month. So if you're after an account that pays you interest when you have money in your account, and if you prefer to do your banking online or over the phone then this could be the current account for you.

As standard, Nationwide offers a contactless Visa debit card which efficiently allows you to pay for up to £30 worth of goods or services in a single transaction. While some people still have doubts over the safety of contactless payments they are actually safe and highly secure and are embedded with multiple layers of security to protect you against fraud. If your card is lost or stolen, as long as you report it to your bank as soon as possible in accordance with your bank’s terms, you won’t have to pay for any fraudulent use.

Click here for more information on the Nationwide FlexDirect Current Account »

Nationwide also provides, as standard:

  • Free text alerts to help you manage your account
  • Automated Telephone Banking, open 24/7
  • Award winning secure online banking
  • Withdrawal of up to £500/ day from their ATM network
  • Paperless statements
  • No monthly account fee
  • The full £75,000 UK savings safety guarantee

As the rate is fixed, provided it's still at 5% when you apply for the account, you know that is the rate you will get for the first year, making this a risk-free switch. Despite a number of other competitors cutting their rates, Nationwide has said that there are no planned reductions although its rates are constantly under review.

Useful Information to Know

  • Your interest is calculated on the last day of each month for each day of that month. The interest is then paid on the first day of the next month without tax deducted.
  • They also offer a great refer a friend scheme. If your friend successfully switches to a Nationwide current account you will both receive £100; you can refer up to 10 friends a year.
  • This account also offers a fee free arranged overdraft for 12 months, although the limit you get is credit score dependent. After the 12 months, it charges 50p per day for the overdraft. The total unarranged fees are capped at £95/month which provides some security.

They also offer a first time bank charge refund, so if you let them know you’ve made a mistake, they will refund any overdraft fees which you have incurred.

Overall this is a great account for people who can commit to paying in £1000 per month and want to make the most out of their money. The 12 month fee free overdraft is very attractive as well as the chance to earn up to £1000 through their refer-a-friend scheme.

Click here for more information on the Nationwide FlexDirect Current Account »

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