This comparison simply includes all savings accounts.
Which Current Accounts Pay You to Switch?
Why we like it: SPECIAL OFFER - Get £150 when you switch to a First Direct 1st Account, or if you're not ready to switch £20 welcome when you open a current account. You also get access to a 3.5% AER/gross fixed for 12 months Regular Saver Account if saving between £25 and £300 a month (up to £3,600 per year). £250 interest-free overdraft (subject to status). No minimum monthly funding and no monthly account fee. Mobile banking app. UK based contact centre. For the £150 switching cash offer you need to open a 1st Account, switch your everyday banking to us using the Current Account Switch Service and pay in at least £1,000 within three months of opening the account. To get the £20 welcome cash offer you need to open a 1st Account and log into our app / online banking within three months of opening the account. This offer can’t be added to any other joiner or switcher offer
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.
Why we like it: SPECIAL OFFER - Get £170 when you switch to an HSBC Advance Bank Account. Earn 1.00% AER/gross when you save between £25 and £250 per month. Arranged overdraft limit of at least £1,000 on account opening. Money banking app. No monthly account fee. Easy switching with the Current Account Switch Service. Must be 18 or older and be UK resident. Must pay in £1,750 per month or £10,500 over 6 months. Must be approved for an arranged overdraft of £1,000+. For £170 Switch Offer: Switch using Current Account Switching Service with 2+ Direct Debits/standing orders within 30 days and pay £1,500k+ into account within 60 days. Once eligible, HSBC will pay £170 into your account within 30 days. Offer excludes customers who’ve held an HSBC/opened a first direct current account since 1/1/19
Why we like it: Earn 0.75% AER (variable) interest on balances up to a maximum of £20,000. Up to 3% cashback on household bills - 1% on council tax bills, Mobile and home phone bills, broadband and paid-for TV packages, and Santander monthly mortgage payments. 2% on Gas and electricity bills, Santander Home Insurance premiums and Santander Life Insurance premiums, and 3% on water bills. Monthly fee of £4. 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.
Why we like it: An everyday current account. Great money management tools with our mobile banking app. ‘Criteria Apply’. Multiple ways to pay: Apple Pay, Google Pay™ and Contactless Visa Debit Card. Limits apply. Arranged overdraft available (subject to eligibility). No monthly fee. Defaqto 5* rated. Must be 18 or older and UK resident. Representative example: If you use an arranged overdraft of £1,200 you’ll be charged interest at 39.49% EAR variable
Why we like it: Up to 3% cashback on selected household bills, capped at £5 for each cashback tier each month. Earn up to 15% cashback with Retailer Offers. Easy to manage online or on mobile app. Get access to a range of 123 offers. Arranged Overdraft facility (subject to status) - 39.94% APR / EAR (variable). Must be 18 or older and UK resident. Customers must pay a minimum of £500 into account each month, have 2 active Direct Debits, log onto Online or Mobile Banking at least once every 3 months. Must not currently hold 2 Reward accounts. £2 monthly fee.
Why we like it: Earn £4 a month back in Rewards by making a minimum of 2 direct debit payments of at least £2 each, or earn £1 a month in rewards with 1 mobile app login. Earn Rewards that you can redeem as cash back, gift cards or e-codes with our retail partners. Great money management tools with our mobile banking app. ‘Criteria Apply’. Arranged overdraft available (subject to eligibility). Multiple ways to pay: Apple Pay, Google Pay™ and Contactless Visa Debit. Must be 18 or older and UK resident. Customers need to pay at least £1,250 into any eligible personal current account every month (excludes transfers between your own accounts). Must not currently hold 2 Reward accounts. £2 monthly fee. Representative example: If you use an arranged overdraft of £1,200 you’ll be charged interest at 39.49% EAR variable
Why we like it: Free current account. Pays 0.05% AER interest on balances up to £85,000. Get set up in minutes.
Why we like it: An everyday current account. Great money management tools with our mobile banking app. ‘Criteria Apply’. Multiple ways to pay: Apple Pay, Google Pay™ and Contactless Visa Debit Card. Limits apply. Arranged overdraft available (subject to eligibility). No monthly fee. Defaqto 5* rated. Must be 18 or older and UK resident. Representative example: If you use an arranged overdraft of £1,200 you’ll be charged interest at 39.49% EAR variable
Why we like it: Earn £4 a month back in Rewards by making a minimum of 2 direct debit payments of at least £2 each, or earn £1 a month in rewards with 1 mobile app login. Earn Rewards that you can redeem as cash back, gift cards or e-codes with our retail partners. Great money management tools with our mobile banking app. ‘Criteria Apply’. Arranged overdraft available (subject to eligibility). Multiple ways to pay: Apple Pay, Google Pay™ and Contactless Visa Debit. Must be 18 or older and UK resident. Customers need to pay at least £1,250 into any eligible personal current account every month (excludes transfers between your own accounts). Must not currently hold 2 Reward accounts. £2 monthly fee. Representative example: If you use an arranged overdraft of £1,200 you’ll be charged interest at 39.49% EAR variable
Why we like it: Open a GBP and EUR current account using your mobile in minutes, with no credit checks and no proof of address required. Track your account activity in real-time, get an overview of your monthly outgoings, set budgets and set your savings aside from your day-to-day spending. Get instant updates on your mobile whenever you receive or spend money. Add money to your account instantly by debit card or bank transfer. Spend on your Monese card and make ATM withdrawals worldwide with fee-free allowances and money-saving exchange rates. Send money to your contacts and request payments from them. You can also save when you transfer money abroad at the wholesale currency exchange rate. Transfers between Monese accounts are also free and instant. You can use your Monese app in any one of 12 languages
Why we like it: Can be opened by or on behalf of any child up to the age of 17. Debit or cash card available for those aged between 13 and 17. 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 17 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
When you switch bank accounts, it’s usually to get a better deal somewhere else. But, did you know that some current accounts will pay you to make the switch?
Yeah, there are some providers that want you to switch and they’ll pay you to do so. Now, we’ve got a table down below that tells you all about which providers will do this, but let’s also take a look at what switch incentives are on offer.
HSBC Advance Current Account - £170 cash switching bonus
Open the HSBC Advance Account and you will receive £170 cash as a joining bonus. You will need to switch your everyday banking to HSBC using the Current Account Switch Service and set up at least 2 direct debits. You will also have to pay in at least £1,750 per month, or £10,500 within six months of holding the account.
First Direct 1st Account - £150 cash switching bonus, or £20 for opening without switching
First Direct 1st Account offer a £150 incentive for switching to their 1st Account, or £20 for opening account without switching. You will need to switch your everyday banking to First Direct using the Current Account Switch Service, and you will have to pay in at least £1,000 during the first three months you hold the account.
So, when it comes to banks and switching incentives, it’s usually a financial reward. However, the Current Account Switch Service, used by a lot of banks, offers things like cinema tickets and cool freebies to balance out the cash prize. Switching your current account can seem like a challenge, and finding a new bank or building society takes time. But, it is worth it in the long run, especially if you pay attention to all the switch incentives. Remember to close your old account at the end though, or you might run into some problems!
