Current Accounts
Current accounts are the primary type of bank account currently offered in the UK market. They allow people to keep their money safely in a bank or building society and freely access it when needed. Regular payments (such as benefits, salary, pension, tax credits etc.) can be paid directly into the account simply, bills can be paid and individuals can complete necessary financial transactions in numerous ways making the management of funds very easy. The majority of UK current accounts offer the following functionality as standard; bank transfers and online banking, automated direct debits and standing orders, credit card or debit card payments, but they all still vary slightly. Ensure you get the right current account for your needs by comparing products using our comparison tables below.
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Nationwide FlexAccountAccess a range of exclusive offers |
0% | £0.00 | £0.00 |
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| ** The account that gives you more for free ** | |||||
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Natwest Select AccountFree everyday banking - no monthly charge |
0% | £0.00 | £0.00 |
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| ** Free everyday banking - no monthly charge ** | |||||
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Santander EverydayFree switching service |
0% | £0.00 | £0.00 |
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| ** No minimum funding required ** | |||||
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RBS Select AccountFree iPhone app |
0% | £0.00 | £0.00 |
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| ** Free everyday banking - no monthly charge ** | |||||
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Nationwide FlexDirectA bank account that gives you additional benefits |
5% | £1,000.00 | £0.00 |
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| ** A bank account that gives you additional benefits ** | |||||
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Barclays Bank AccountPersonalise your account in the Barclays Features Store |
0% | £0.00 | £0.00 |
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Nationwide FlexPlusFlexPlus gives you more than just interest |
3% | £0.00 | £0.00 |
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| **£10 monthly fees applies** | |||||
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NatWest Select PlatinumInsurance and protection benefits |
0% | £0.00 | £0.00 |
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| ** Insurance, Leisure and Banking benefits - £16 monthly fee applies ** | |||||
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RBS Select PlatinumFantastic protection and leisure benefits |
0% | £0.00 | £0.00 |
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| ** Insurance, Leisure and Banking benefits - £16 monthly fee applies ** | |||||
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Co-operative Bank Current Account PlusNo monthly subscription fees. Automatic £200 fee-free overdraft |
0% | £800.00 | £0.00 |
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Compare Current Accounts
Most current accounts offer a wider breadth of services than basic bank accounts and usually come with a cheque book, a debit card, direct debits, standing orders, BACS - Bankers automated clearing service (allows for payments to be made in and out of your account) and overdraft facility (you might need to apply for this one). Some current accounts will also pay interest on balances, however the rate is typically low so if you have a remaining balance you might be better off looking at a savings account or other investment options were you could put your money in better use.
There are also packaged current accounts that offer some extras along with a current account, such as insurance and car breakdown cover, for a monthly fee. All packaged accounts offer different benefits and functionality, but some can save people a considerable amount if all the benefits are elements they would normally purchase anyway (i.e. Mobile phone insurance, Travel Insurance etc.). Please visit our packaged current account comparison table to identify the best offers available for you.
Who can get a current account?
The minimum age required to open a current account is 16 years old, although some banks have raised that to 18 years old; you might be able to open a current account if you are below the age of 18 with the help of your parents (or guardian). Additionally, with some current accounts, a minimum amount must be paid into the account monthly - such as salary, benefits, pension etc.
How do I apply for a current account?
The process of applying for a current account is very similar to that of applying for many financial products. Usually the application consists of a form that you need to fill along with some paper work for proof of identification and address. You can apply online through our secure links (more information button found next to our comparison tables), in person in any high street branch, by post, and even over the phone. Most accounts offer you the option to open it either alone or with somebody else (a joint account) - keep in mind that if you open a joint account you will be linked financially with that person and you are going to be co-scored.
How much does a current account cost?
Most current accounts won't charge you for account services, as long as there is money in the account, however if you have opted for a packaged current account then you have to pay the monthly fee.
It is important to note that although no other charges and fees are associated with maintaining a current account, there are some types of transactions that will incur additional fees; for example your bank might charge you if a direct debit was returned due to insufficient funds, or an overdraft fee might be charged if you spent more than you had. In order to find out all the charges and fees you might incur please see the terms and conditions of your bank.
What options are there to current accounts?
If you feel that a simple current account won't cover your needs or you cannot get approved for a current account then there are several options that might suit you. If you want more out of your current account you should check out the packaged account deals currently on offer
In the case you cannot get a current account then you could try a basic bank account or even comparing prepaid bank accounts. Basic bank accounts have lighter restrictions than current accounts, however prepaid bank account are open to all UK residents over the age of 18.
Product Offers
Please ensure that you fully read the terms & conditions of any product or policy before you decide to proceed and are fully aware of the total costs and the benefits and any exclusions or limitations applicable to the product or plan.
Please note that the product links will take you direct to the Issuer or Insurer's site direct and we cannot be held responsible for the information which they provide within their own sites. On some comparison tables we use a star rating which rates products by visitor popularity.
Please ensure that you fully read the terms & conditions of any product or policy before you decide to proceed and are fully aware of the total costs and the benefits and any exclusions or limitations applicable to the product or plan.
Please note that the product links will take you direct to the Issuer or Insurer's site direct and we cannot be held responsible for the information which they provide within their own sites. On some comparison tables we use a star rating which rates products by visitor popularity.
