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Switching current account to Yorkshire Bank
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.
Yorkshire Bank current account review
Yorkshire Bank operates through England and is a trading division of Clydesdale Bank. They offer several different current accounts to match the needs of different customers.
B Current – A combined current account, instant savings account and app, designed to make it easy to track your spending, manage your money and save for the future. The account comes with no monthly fee.
Current Account Plus – A straightforward current account with optional overdraft. In addition, it gives you access to Savings Account Plus; allowing you to earn interest on all of your savings and transfer money quickly back and forth from your current account to your savings account.
Signature Current Account – This current account also gives you a range of benefits, including family travel insurance, UK breakdown cover, mobile phone and gadget insurance, ID defender and discounts from a range of high street shops, all for just £13.50 a month.
Readycash Account – A basic current account aimed at customers aged 16+ who are not eligible for a standard current account.
Private Current Account – A current account for those who earn in excess of £75,000 a year, have a joint income of over £100,000 or more than £100,000 of investable assets. For a £25 a month account fee you get the benefit of a dedicated relationship manager and various other benefits.
Current Account Control – This accounts has the benefits of a standard current account, but for an additional £7.50 a month account fee the account will stop any payments which would otherwise result in you paying unplanned borrowing fees.
What to look for when switching current accounts
When considering which current account to switch to, make sure to look at the following key factors to see whether the account is a good match for your needs:
Interest rates – Both the interest you earn on your savings and that you pay on your overdraft can make a big difference to the value of your account to you. Make sure to consider both of these rates with respect to how you use your account and whether you are more likely to be in credit or not most of the time.
Switching incentives – Many of the most popular current accounts offer generous incentives to switch, including cash bonuses up front. You will normally need to use the Current Account Switch Service and move your everyday banking to the new account to qualify.
Cashback – Cashback deals are now common across many current accounts, giving you a regular incentive to keep using your account. With a TSB Classic Plus Account you can earn up to £120 cashback a year for having active monthly Direct Debits and using your debit card regularly. The Santander 1|2|3 Current Account, meanwhile, offers cashback on your household bills, which can soon add up to significant amounts.
Additional benefits – Most current accounts will also offer you extra benefits, either as standard or as optional add-ons such as free insurance or free internet security software.
Compare current accounts
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.