This website uses cookies to improve user experience. By using our website you consent to all cookies in accordance with our Cookie Policy. Read more

Compare Latest Current Account Deals

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

NatWest
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.

Barclays
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

First Direct 1st Account review

First Direct is a telephone and internet-based bank in the UK, which is part of HSBC Bank plc. With over 1.35 million customers, First Direct has a reputation for excellent customer service.

First Direct offers a single current account, known as a 1st Account and it comes with a number of benefits for new customers. If you are considering switching your day-to-day banking to First Direct, the following are some of the benefits you could receive with a 1st Account.

First Direct 1st Account benefits

Switch to a First Direct 1st Account and receive:

  • £250 interest-free overdraft
  • £100 cash joining bonus (subject to conditions)
  • Another £100 if you choose to leave within the first 12 months (again, subject to conditions)
  • 24/7, 365 banking by internet, telephone and mobile
  • Award-winning UK-based customer service
  • Pay in cash and cheques at HSBC branches and at the Post Office
  • No account fee for the first six months
  • No account fee after the first six months if you pay in £1,000 plus a month, maintain an average monthly balance of £1,000; or have a mortgage, credit card or other qualifying product with First Direct (otherwise a £10 per month account fee applies)

Find out more about the First Direct 1st Account here >>

What to look for when switching current accounts

When choosing a new current account, there are various things to consider that can make one account more appealing compared to another. The following are some of the key things to look out for:

Interest rates – Most current accounts will offer two different interest rates – the one you can earn on your savings and the one you will pay on your overdraft. Depending on whether you mostly tend to be in credit or in your overdraft, the relative rates on offer will be of more or less importance.

It’s also worth looking at what the balance limit is for earning interest, as many current accounts only offer interest up to a relatively low threshold, above which you will earn nothing on your savings.

Switching incentives – Many leading accounts offer attractive switching incentives, including cash up front. This can make an account much more appealing, but any joining bonus needs to be weighed against the ongoing benefits of the account and any monthly account fee.

Cashback – A lot of accounts now offer cashback as an ongoing incentive. For example, with a TSB Classic Plus Account you can earn up to £120 cashback a year just for having active monthly Direct Debits and using your debit card regularly. Others, such as the Santander 1|2|3 Current Account offer cashback on your household bills, which can soon add up to significant amounts.

Additional benefits – Most current accounts offer a range of other benefits, including free insurance, free internet security software and more which can save you a significant amount of money, depending on your needs.

Compare current accounts

When switching your current account to a new provider, it pays to do plenty of research about the different options available to you. The joining incentives, interest rates and other benefits offered by various different providers vary considerably, so choosing the right account for you will depend on your personal circumstances and banking needs.

Take a look at the range of current accounts presently on offer from all the leading providers across the market right now to see which offers the best deal for you.

Latest news

Are you getting 10% on your savings?

In these low interest times getting a decent rate of return on your cash is not easy. Surprisingly some of the best interest rates are available via current accounts.

Newsletter signup

Sign up to our Newsletter to get exclusive news and offers direct to your inbox.

Let's get social now! Twitter Facebook

About us

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.