CURRENT ACCOUNTS

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Current accounts are offered by most banks and building societies and are the most standard bank account they offer. Customers can generally access their bank account money via a Debit card – this allows for ATM withdrawals and for making purchases in high street and online retailers. Most current accounts have online banking; can be managed via telephone and by visiting your nearest branch. Many bank accounts carry an overdraft facility though this may not come automatically with all current accounts. The amount of interest varies according to individual bank accounts and will be deducted automatically from your balance on a regular basis. Apply for online banking if you bank offers this, as it will help you to manage your bank account more efficiently. Please note that current accounts can widely vary according to the account provider. Use the table below to find the current account that best suits you and your finances.

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If you wish to speak to someone: Contact Us or Enquiry Line: +44 (0) 207 386 5300

PROVIDERACCOUNT

ACCOUNT

Account name

TYPE

TYPE

Account type

INTEREST AER

INTEREST AER

Interest Annual Equivalent Rate

INTEREST GROSS

INTEREST GROSS

Gross interest is the annual rate of interest which is paid without the deduction of lower rate tax to eligible individuals and certain organisations

PAID

PAID

How often interest is paid on account

ACCESS

ACCESS

How account can be accessed

O/D RATE

O/D RATE

Cost of Overdraft

BANKING CHARGES

BANKING CHARGES

Additional banking charges

SERVICES CHARGES

SERVICES CHARGES

Charges for extra services

FEATURES

FEATURES

Bank account features

MORE INFO

RBS Royalties Gold Current Account
RBS Royalties Gold Current Account

RBS Royalties Gold Current AccountCurrent Account0%0%MonthlyOnline, Branch, ATM, Tel19%When you use your debit card abroad.£12.95.Features

Features

Free Banking: No
Debit Card: Yes
Cheque Guarantee Card: Yes
Standing Orders: Yes
Direct Debit: Yes
Overdraft Facility: Yes
Account Manager: No

From just £12.95 a month our Royalties Gold Account could be a good choice if you're looking for an account packed with benefits to help you get the most out of life.

RBS Royalties Gold Current Account
RBS Royalties Gold Current Account - get travel insurance, breakdown cover from Green Flag, as well as tailored rates on loans, mortgages and credit cards. All for £12.95 per month. Savings Worth up to £933 per year. Before applying for a current account please make sure that you read the terms and conditions carefully. Current accounts do vary and it is important for you to work out which one is best for you and your financial circumstances. If you have any doubts it is wise to seek expert financial advice. DETAIL INFORMATION >>Services

Services

Savings Worth up to £933 per year


Advantages

Advantages

1. Benefits that could save you money and hassle including...
2. Worldwide annual family travel insurance
3. Mobile phone insurance (including iphones)
4. Home emergency cover
5. Breakdown cover
6. Extended warranty
7. Benefits are worth up to £896 per year, for just £12.95 per month
8. Plus get tailored rates on RBS mortgages, loans and credit cards.


Disadvantages

Disadvantages

1. There is a monthly fee of £12.95

CardOneBanking Small Business Account
CardOneBanking Small Business Account

Small Business AccountBusiness Account0%0%NoneOnline, TelN/ASee website for details.£12.50Features

Features

Free Banking: No
Debit Card: Yes
Cheque Guarantee Card: No
Standing Orders: Yes
Direct Debit: Yes
Overdraft Facility: No
Account Manager: Yes

You can add up to 4 additional people to the account at any time for £5 per person.

CardOneBanking Small Business Account
Complete your application online in less than 10 minutes with no branch visits required. Most accounts opened within 3 hours. As a cardonebanking account holder, you'll get access to manage your account online and have a UK based account manager to assist you with your everyday banking. DETAIL INFORMATION >>Services

Services

Simple, easy, secure*** account access.
No credit checks.**
Pay your bills, invoices and wages. Be in control of your money.
No bounced† payment fees or overdraft fees.
Application Fee £55 (refundable if we can't approve you for any reason. Terms apply).
UK registered business only. Primary account holder must be at least 18 years of age. Business owner/ UK residents only.


Advantages

Advantages

1. No credit checks.
2. Pay in at Barclays branches and at the Post Office (for details on deposit restrictions, please see "How it works”).
3. 5 Day delivery of account details.
4. Pay bills using Faster Payments from your
5. Online, text and phone account access.
6. Free text alerts each time money is paid in and confirming bills are paid.
7. Administration access to enable/control of employee expenditure.
8. No bounced payment charges.


Disadvantages

Disadvantages

1. There is a £12.50 monthly charge

2. There is a set up fee of £55

NatWest Select Platinum Current Account
NatWest Select Platinum Current Account

NatWest Select Platinum Current AccountCurrent Account6.9%0%DailyOnline, Branch, ATM, Tel19%When you use your debit card abroad.£12.95Features

Features

Free Banking: No
Debit Card: Yes
Cheque Guarantee Card: Yes
Standing Orders: Yes
Direct Debit: Yes
Overdraft Facility: Yes
Account Manager: No

From just £12.95 a month our NatWest Select Platinum Current Account could be a good choice if you're looking for an account packed with benefits to help you get the most out of life.

NatWest Select Platinum Current Account
NatWest Select Platinum Current Account - get travel insurance, breakdown cover from Green Flag and mobile phone insurance (including smartphones). Monthly account fee - £12.95 Before applying for a current account please make sure that you read the terms and conditions carefully. Current accounts do vary and it is important for you to work out which one is best for you and your financial circumstances. If you have any doubts it is wise to seek expert financial advice. DETAIL INFORMATION >>Services

Services

Savings Worth up to £933 per year


Advantages

Advantages

NatWest Select Platinum Current Account - Bringing a host of great benefits together for you 

 1. Mobile phone insurance - includes smartphones 
2. Green Flag car breakdown cover - even on your driveway 
3. Annual world wide travel insurance - includes winter sports (members and joint policy holders aged 70 years and over must pay an additional annual premium of £50)


Disadvantages

Disadvantages

1. There is a monthly fee of £12.95

Santander Preferred
Santander Preferred

Preferred In-Credit Rate AccountCurrent Account5.00%4.89%DailyOnline, Branch, ATM19.90%See website£0.00Features

Features

Free Banking: Yes
Debit Card: Yes
Cheque Guarantee Card: Yes
Standing Orders: Yes
Direct Debit: Yes
Overdraft Facility: Yes
Account Manager: No

1. Online banking
2. If you do not pay in at least £1, 000 a month, but you are in credit, the Preferred In-Credit Bank Account pays interest of 0.10% gross/AER on the whole balance.

Santander Preferred
The Santander Preferred in-credit rate account offers an interest rate of 5% AER for the first 12 months from opening the account on balances up to £2,500. They also claim to match your previous overdraft up to £5,000 (depending on your circumstances). DETAIL INFORMATION >>Services

Services

1. Online banking


Advantages

Advantages

1. 5.00% AER/ 4.89%gross (fixed) for the first 12 months from account opening on balances up to £2,500.
2. 0% interest free Advance Overdraft for the first 4 months from account opening.
3. We'll match your previous overdraft up to £5,000 (Dependant on your circumstances).
4. Access your current account around the clock with Online Banking, Telephone Banking and over 1,000 Santander branches.


Disadvantages

Disadvantages

1. To qualify for the bonus rates a minimum of a £1,000 a month needs to be credited to the account, or standard rates apply.
2. If you do not pay in at least £1, 000 a month, but you are in credit, the Preferred In-Credit Bank Account pays interest of 0.10% gross/AER on the whole balance.

RBS Standard Current Account
RBS Standard Current Account

RBS Standard Current AccountCurrent Account0%0%MonthlyOnline, Branch, Post, Tel18%You must pay charges for specialist services£0Features

Features

Free Banking: Yes
Debit Card: Yes
Cheque Guarantee Card: Yes
Standing Orders: Yes
Direct Debit: Yes
Overdraft Facility: Yes
Account Manager: No

1. Free everyday banking - no monthly subscription charge.
2. Overdraft – pay no interest on agreed overdrafts of up to £100 and there is no arrangement or renewal fees on overdrafts up to £15,000.
3. Visa debit card – worldwide acceptance with added online security protection.
4. Standing orders and direct debits – to help you manage your money

RBS Standard Current Account
RBS Standard Current Account - straightforward access to your money plus the option to have an overdraft (subject to eligibility). Apply online for an instant decision. Before applying for a current account please make sure that you read the terms and conditions carefully. Current accounts do vary and it is important for you to work out which one is best for you and your financial circumstances. If you have any doubts it is wise to seek expert financial advice. DETAIL INFORMATION >>Services

Services

Free everyday banking


Advantages

Advantages

1. Straightforward access to your money with no monthly subscription charges
2. Pay no interest on agreed overdrafts of up to £100
3. Use your Current account balance to save money on your mortgage with our Offset Service
4. Apply online
5. Credit facilities available to over 18s only.


Disadvantages

Disadvantages

1. There is an overdraft rate of 18.28%

RBS Select Platinum Current Account
RBS Select Platinum Current Account

RBS Select Platinum Current accountCurrent Accountask on applicationask on applicationDailyOnline, Branch, ATM, TelAsk on applicationWhen you use your debit card abroad£16Features

Features

Free Banking: No
Debit Card: No
Cheque Guarantee Card: No
Standing Orders: Yes
Direct Debit: Yes
Overdraft Facility: Yes
Account Manager: Yes

Current account with additional benefits

RBS Select Platinum Current Account
The current account with more. Worldwide multi-trip family travel insurance. Up to £250 towards home emergency repairs. And that’s just the beginning. Now earn 1% in Rewards on all transactions made using Contactless Technology. Plus get at least 1% on qualifying purchases at participating retailers. Just activate your account and use your RBS Visa Debit card to start earning Cashback Plus Rewards. DETAIL INFORMATION >>Services

Services

Online account managing


Advantages

Advantages

1.Easy online account opening
2.Various insurance policies included
3.Rewards
4.National Trust pass included


Disadvantages

Disadvantages

Fees might apply for extra services

RBS Silver Current Account
RBS Silver Current Account

RBS Select Silver Current AccountCurrent Account0%0%NoneOnline, Tel, Branch19.89%See website for details.£10Features

Features

Free Banking: No
Debit Card: Yes
Cheque Guarantee Card: No
Standing Orders: Yes
Direct Debit: Yes
Overdraft Facility: Yes
Account Manager: No

European Travel Insurance, including winter sports for you and joint account holders

RBS Silver Current Account
The RBS Select Silver Account is a current account that is great if you like European travel, films and music. RBS current accounts help you do those every day things that make life a little bit easier. With an emergency cash service and 24 hour UK call center banking could not be safer. The Select Silver account comes with a great range of additional benefits for £10 per month. DETAIL INFORMATION >>Services

Services

1. European Travel Insurance, including winter sports for you and joint account holders

2. Mobile Phone Insurance (includes smartphones)
3. Identity Theft Assistance
4. LOVEFiLM and digital downloads from hmvdigital


Advantages

Advantages

1. Bank the way you want to with 24 hour UK call centres
2. Digital Banking
3. Easy to apply and switch
4. Emergency Cash
5. Get rewarded with cashback plus


Disadvantages

Disadvantages

1. There is a monthly fee of £10 per month

RBS Select Current Account
RBS Select Current Account

RBS Select Current AccountCurrent Accountask on applicationask on applicationDailyOnline, Branch, ATM, TelAsk on applicationWhen you use your debit card abroad.£0Features

Features

Free Banking: Yes
Debit Card: No
Cheque Guarantee Card: Yes
Standing Orders: Yes
Direct Debit: Yes
Overdraft Facility: Yes
Account Manager: Yes

Online Banking with extra features

RBS Select Current Account
The RBS regular account offers flexible everyday banking with no monthly fees and award winning online banking With all the essentials to make everyday banking easy for you. It come with a Visa debit card,overdraft facility) (subject to eligibility). Easy Online banking and no monthly subscription fee make it an ideal everyday life bank account. DETAIL INFORMATION >>Services

Services

Online Banking, Mobile Banking


Advantages

Advantages

1.Visa debit card
2.Overdraft (subject to eligibility)
3.Online banking
4.No monthly subscription fee


Disadvantages

Disadvantages

Extra fees might apply

Natwest Select Current Account
Natwest Select Current Account

Natwest Select AccountCurrent AccountAsk on applicationAsk on applicationDailyOnline, Branch, Post, TelAsk on applicationAsk on application£0Features

Features

Free Banking: Yes
Debit Card: Yes
Cheque Guarantee Card: No
Standing Orders: Yes
Direct Debit: Yes
Overdraft Facility: Yes
Account Manager: Yes

Current account for daily fianances

Natwest Select Current Account
NatWest’s regular account offers flexible everyday banking with no monthly fees and award winning online banking With all the essentials to make everyday banking easy for you. It includes online banking,an overdraft facility and comes with a Visa debit card. Furthermore you can earn cashback at participating retailers. DETAIL INFORMATION >>Services

Services

Online banking, easy online account opening


Advantages

Advantages

1.Earn a minimum of 1% of your spend at participating retailers with Cashback Plus 

2.Visa debit card 
3.Overdraft (subject to eligibility) 
 4.Online banking 
5.No monthly subscription fee


Disadvantages

Disadvantages

Fees for extra services might apply

Natwest Select Silver Current Account
Natwest Select Silver Current Account

Natwest Select Silver Current AccountCurrent AccountAsk on applicationAsk on applicationDailyOnline, Branch, Post, TelAsk on application£0Features

Features

Free Banking: No
Debit Card: Yes
Cheque Guarantee Card: Yes
Standing Orders: No
Direct Debit: Yes
Overdraft Facility: Yes
Account Manager: No

Family account for everyday business

Natwest Select Silver Current Account
NatWest Select Silver Packaged Account An account with added extras that will help you save money on everyday expenses: •Earn a minimum of 1% of your spend at participating retailers with Cashback Plus • European Travel Insurance • Mobile phone insurance - including iPhones • 2-for-1 meals or 50% off your food bill at thousands of restaurants with a tastecard • 25% Cashback through Ticket Booking Service • £10 monthly subscription fee DETAIL INFORMATION >>Services

Services

Online banking, easy setup


Advantages

Advantages

1.Insurance policies included 

2.Cashback programmes


Disadvantages

Disadvantages

Fees might apply for extra services

Lloyds Premier International Account
Lloyds Premier International Account

Premier International AccountOffshore Account0% - 0%0% - 0%DailyOnline, phone, postOver £200 (AER* 15%)£20 per payment£20/€20/$30 per month (under £2,500)Features

Features

Free Banking: Yes
Debit Card: Yes
Cheque Guarantee Card: Yes
Standing Orders: No
Direct Debit: No
Overdraft Facility: Yes
Account Manager: No

Accounts available in £,$ or €. All-access withdrawals. Family Travel Insurance.4%(1%AER†) interest rate — on balances between £10,000 and £24,999 for 3 months only.

Lloyds Premier International Account
This current account is perfect for those of you with international needs but who want the security of a name you can trust. The Premier International Account from LLoyds caters for all your needs-you can even make use of the complimentary travel insurance, online banking and concierge service. Apply online and you will receive £100 cashback Before applying for a current account please make sure that you read the terms and conditions carefully. Current accounts do vary so work out which one is best for you. DETAIL INFORMATION >>Services

Services

Visa debit cards in all 3 currencies for easy worldwide access to your money


Advantages

Advantages

1.You can get this account in £,€ or $.
2.If you need flexible access to your money-this account will allow you to do exactly this. 3.A great account to make international transfers with.
4.You will get a Visa debit card in all three currencies.
5.If your balance is above £2,500, there will be no monthly fee.
6.There will only be one monthly fee for multi-currency accounts.
7.If your account has over £10,000 you will start to recieve a 4% interest rate.
8.Worldwide family travel insurance included.


Disadvantages

Disadvantages

1.If your balance is below £2,500 you will have to pay a monthly fee of £20/€20/$30.
2.You must have a minimum gross income of £50,000
3.You cannot apply unless you are over the age of 18.

If you wish to speak to someone: Contact Us or Enquiry Line: +44 (0) 207 386 5300

Compare Current Accounts

Current Accounts

A current account is also known as an everyday bank account and almost everyone in the UK has one. It is best used to hold the money that you spend on a regular basis for things like day to day living costs, household bills and they are usually the place where your salary gets paid into. The way current accounts work is you pay your money in and out through a variety of methods, through branches, over the phone, online or at your local Post Office. You will then receive a monthly statements either through the post or online which shows all your transactions and what money has come in and gone out.

Reasons to open a current account

With a current account you can obtain free everyday banking and you can pay people from this account. Current accounts provide you with a debit card which you can use at cash machines and in the shops. Most current accounts will also come with a chequebook that you can use to make payments easily. Online banking is a great feature of many current accounts. Internet banking is fast, safe and convenient. You do not have to travel to your nearest bank for many basic services and you can access your account 24 hours a day. You can also access your statements instantly, make transfers quickly and schedule monthly payments to be made out of your account automatically. Some current accounts offer interest on the money you have on the account, although the rates are often lower than on a savings account. You can set up standing orders and direct debits from a current account for regular payments you have to make like bills meaning you do not have to worry about missing payment deadlines.

How to choose the right bank account

The right account will depend on you and your requirements. Recently the UK current account market has diversified to offer a wide range of products covering everything from basic accounts to packaged accounts and others aimed at particular target markets. For example there are special accounts designed for students with exclusive offers geared specifically towards students such as interest free overdraft facilities and free railcards Packaged current accounts can have a wide range of additional offers and benefits including features such as higher credit interest, free home, car, travel, mobile phone, breakdown insurance, protection from identity theft, you can earn airmiles, travel benefits and discounts and also commission free foreign currency. Bear in mind that while many current accounts are free and won’t cost you anything as long as you do not go overdrawn, other more advanced accounts, for example those offers additional benefits like travel insurance, may charge a small monthly fee. Many accounts offer incentives with their accounts such as free gifts and vouchers but do not just be drawn in by these. Without these does the account still offer everything you are looking for?

Considering current accounts

There is a wide range of different accounts and benefits available so you should shop around to find the best one for you. With so many vying for your business you should research thoroughly to find the best deal for you. There are hundreds of accounts to choose from. You should think about the things you’ll be using the account for and always watch out for any hidden charges that may apply. You may want to choose an account that can be managed online or via the phone and whether it has a 24 customer service line. Age restrictions may apply, you can usually open an account quite young but you may not have full access to all the benefits. Please note that you will have to provide some identification to open a current account which can include a passport, and proof of your address such as a bill. You may also find that you need to pay in a minimum amount each month to qualify for certain features such as particular interest rates.

Overdraft facilities

With some providers you will be offered an overdraft facility which is in essence borrowing money from the account provider. If you exceed the available balance in your account and go into a negative balance, then you enter your overdraft. Some accounts may offer overdrafts on an interest free basis. However, you should watch out for charges as some banks may charge you for this facility and rates can vary. If you do not have an overdraft facility and you go into a negative balance you should expect these fees to be much more expensive.

CURRENT ACCOUNTS - LATEST NEWS News and Charts

Switching bank accounts is now backed by a guarantee

29 October 2013
Which Way To Pay

Switching your current account could not be easier with the new switching service guarantee which has been put in place.

READ ARTICLE

How to choose the best bank account to suit your needs?

03 August 2013
Which Way To Pay

Not all current accounts are the same so it is important to research all the bank accounts available so you can see which one suits you best.

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Barclays Current Account

13 June 2012 10:30am
Which Way to Pay

Now available for you to compare with the Barclays Current Account you can customise your account with a range of Packs that cover gadgets, home appliances, travel and more. Simply add the Features that you want and leave out the ones that you don't.

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123 Current Account

27 March 2012 12:00pm
Which Way to Pay

The 123 Current Account is a new current account now available at Which Way To Pay for you to compare. This Current Account, pays in-credit interest on a customer’s total balance of up to 3% once they have more than £1,000 in their account.

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The Dangers Of Debit Cards

07 July 2011
ICE

There are alternative ways to buy your foreign currency to avoid incurring unnecessary debit card bank charges.

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