Current Accounts

Compare accounts from major providers, including:

*This figure is based on historical data of comparisons across both personal and business accounts

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App-based UK current account and Euro IBAN account
Send and receive money in 30+ currencies
From restaurant tabs to rent, split bills with anyone, even if they’re not on Revolut

*For new customers only, T&Cs apply. Premium plan subscription fees will apply after the free trial period. You'll be able to cancel for free at any point before the end of the free trial period. Once activated, you can order a Premium card. If you switch back to your current plan during the free trial period, you'll be charged for the card and applicable break fees. Offer available until December 31st 2023.

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Revolut Current Account - Standard Plan
Monthly Fee

Free

Interest Rate

Up to 1.18% annual interest paid daily

Arranged Overdraft Rate

24.99% - 39.90%

Minimum Monthly Credit

None

See Deal
Offer
Sign up and get 3 months of Premium free
For new customers only, T&Cs apply. Premium plan subscription fees will apply after the free trial period. You'll be able to cancel for free at any point before the end of the free trial period. Once activated, you can order a Premium card. If you switch back to your current plan during the free trial period, you'll be charged for the card and applicable break fees. Offer available until December 31st 2023.

Representative Example: 0% interest up to £50. If you use an arranged overdraft of £1,200, you'll be charged the equivalent annual rate of 35% EAR (variable). Representative APR 35% (variable)
Product Features

App-based UK current account and Euro IBAN account

Send and receive money in 30+ currencies

From restaurant tabs to rent, split bills with anyone, even if they’re not on Revolut
Eligibility / Restrictions

Must be 18 years or older

No cash or cheque facilities on this account
More info
Offer

1% cashback on everyday debit card spending for your first 12 months for new customers
Chase Current Account

Protected
Monthly Fee

Free

Interest Rate

1%

Arranged Overdraft Rate

No overdraft

Minimum Monthly Credit

None

See Deal
Offer
1% cashback on everyday debit card spending for your first 12 months for new customers
Max £15 cashback per month. Cashback exceptions apply. You can earn interest on your spare change with a round-up account which pays 5% AER (4.89% gross) variable, paid monthly. Chase current account required to open round-up account. Round-up account balance transfers to elected Chase current or saver account on anniversary of account opening. Round-up T&Cs apply.

Representative Example: No credit facilities on this account
Product Features

Pay zero fees with Chase whether you’re at home or abroad

Get access to the easy access Chase Saver account which pays 4.1% AER (4.02% gross) variable interest on your savings. Interest paid monthly. Saver account T&Cs apply

24/7 support either by phone or secure message
Eligibility / Restrictions

Must be 18+ and a resident of the UK only

Must have a smartphone and a UK mobile number

No cash or cheque deposit facilities
More info
Barclays Premier Current Account

Protected
Monthly Fee

Free

Interest Rate

0%

Arranged Overdraft Rate

35.0%

Minimum Monthly Credit

None

See Deal
Representative Example: 0% interest (variable) payable on arranged overdrafts up to £500. If you use an arranged overdraft of £1,200, you’ll be charged the equivalent annual rate of 35.0% (variable). Representative APR 19.5% APR (variable). Subject to application, financial circumstances and borrowing history.
Product Features

Access to a dedicated team of Premier Financial Guides and get UK-based support whenever you need it from your Premier Telephone Banking Team

Access Barclays Avios Rewards for £12 a month and collect Avios to put towards your next trip with British Airways. You’ll also receive 25,000 bonus Avios if you're opening your first account with Barclays, you join Avios Rewards, and complete a full switch using the Current Account Switch Service within 3 months of signing up for Barclays Avios Rewards. Eligibility and conditions apply.

Exclusive account benefits, including a black debit card with up to £2,000 daily cash machine withdrawals (subject to status and available funds. Individual cash machine limits may apply).
Eligibility / Restrictions

To be eligible for this account you must have either -

A gross annual income of at least £75,000 paid into the account; or a total balance of at least £100,000 in savings with us, in Barclays UK investments, or in a mix of savings and investments. T&Cs apply.
More info
Barclays Bank Account

Protected
Monthly Fee

Free

Interest Rate

0%

Arranged Overdraft Rate

35.0%

Minimum Monthly Credit

None

See Deal
Representative Example: If you use an arranged overdraft of £1,200, you'll be charged the equivalent annual rate of 35.0% EAR (variable). Representative APR 35.0% (variable). Subject to application, financial circumstance and borrowing history.
Product Features

Optional arranged overdrafts. Subject to application, financial circumstances and borrowing history

Manage your money with the Barclays app, Online Banking and more. You must be 18 or over to access this product in the app. T&Cs apply.

Join Barclays Blue Rewards to unlock member deals and gain access to exclusive savings products with competitive interest rates. Eligibility, conditions and a £5 monthly fee apply.
Eligibility / Restrictions

Must be aged 18 or over

Must be a UK resident
More info
Starling Bank Personal Current Account

Protected
Monthly Fee

Free

Interest Rate

0.05%

Arranged Overdraft Rate

15.0%

Minimum Monthly Credit

None

See Deal
Representative Example: If you use an arranged overdraft of £1,200, you'll be charged the equivalent annual rate of 15 % EAR (variable). Representative APR 15% (variable).
Product Features

Speedy set up in minutes. No paperwork, monthly fees or branch visits

24/7 support via phone, email or in-app chat

Save smarter with Goals, the digital change jar to put money away for the stuff you need
Eligibility / Restrictions

Must be a UK resident

Cash deposit facilities via Post Office branches

Cheque deposit facilities via app or post
More info
Offer

Refer A Friend and get £125 for you, £125 for your friend if they switch*
The Co-operative Bank Standard Current Account

Protected
Monthly Fee

Free

Interest Rate

0%

Arranged Overdraft Rate

35.9%

Minimum Monthly Credit

None

See Deal
Offer
Refer A Friend and get £125 for you, £125 for your friend if they switch*
*Offer is subject to eligibility criteria, which includes completing a full account switch, registering for online and/or mobile banking, making a minimum of five debit card payments, depositing at least £800 and having two active Direct Debits within 60 days of account opening. T&Cs apply.

Representative Example: If you use an arrange overdraft of £1,200, you’ll be charged the equivalent annual rate of 35.9% EAR (Variable). Representative APR 35.9% (Variable).
Product Features

Option to opt-in to Everyday Rewards at no extra cost to get rewards of up to £2.20 a month for making everyday use of your current account

Online and mobile banking

Use Apple Pay, Google Pay or Samsung Wallet
Eligibility / Restrictions

Must be aged 16 or over, or 18 or over when requesting the optional overdraft. Approval is subject to status

Eligibility criteria apply

Everyday Rewards subject to qualifying conditions
More info
Offer

Get £175 when you switch to first direct*
first direct 1st Account

Protected
Monthly Fee

Free

Interest Rate

0%

Arranged Overdraft Rate

0%

Minimum Monthly Credit

None

See Deal
Offer
Get £175 when you switch to first direct*
*To qualify, switch using the Current Account Switch Service and deposit £1,000 within 3 months of account opening. This offer is only available to new first direct customers, or HSBC customers haven't opened an account since 1 January 2020.

Representative Example: If you use an arranged overdraft of £1,200, you'll be charged the equivalent annual rate of 39.9% EAR (variable). Representative APR 30.5% (variable). 0% EAR variable on the first £250.
Product Features

Access to a 7.0% AER/gross fixed for 12 months Regular Saver Account

£250 interest-free overdraft (subject to status)

24/7, 365 banking - Online, Phone and on Mobile
Eligibility / Restrictions

Must be a UK resident aged 18+ with a phone number and email address

No bankruptcy or IVAs in the last 6 years

Pay in cash and cheques at HSBC branches and the Post Office
More info
HSBC Bank Account

Protected
Monthly Fee

Free

Interest Rate

0%

Arranged Overdraft Rate

38.9%

Minimum Monthly Credit

None

See Deal
Representative Example: 0% EAR (variable) on the first £25, 39.9% EAR (variable) on anything above that, giving a representative annual percentage rate (APR) of 38.9% APR (variable). Based on an arranged overdraft of £1,200.
Product Features

Manage your everyday finances wherever you are, online, in-branch, on your mobile or by phone

You can apply for an arranged overdraft (subject to status), handy for unexpected expenses

Build up your savings pot with a Regular Saver - you can save between £25 to £250 each month and earn 5.00% AER/gross

Save money with the HSBC Home&Away offers programme
Eligibility / Restrictions

Must be 18 or older and live in the UK or EU
More info
Santander Everyday Current Account

Protected
Monthly Fee

Free

Interest Rate

0%

Arranged Overdraft Rate

39.94%

Minimum Monthly Credit

None

See Deal
Representative Example: If you use an arranged overdraft of £1,200, you'll be charged the equivalent annual rate of 39.94% EAR (variable). Representative APR 39.94% (variable).
Product Features

Current account for everyday banking needs

No minimum monthly funding or monthly fee to maintain the account

Arranged Overdraft facility (subject to status)
Eligibility / Restrictions

Must be over 18

Must live in the UK permanently
More info
Offer

Get £210 to switch and stay. T&C's apply.
TSB Spend & Save Account

Protected
Monthly Fee

Free

Interest Rate

0%

Arranged Overdraft Rate

39.9%

Minimum Monthly Credit

None

See Deal
Offer
Get £210 to switch and stay. T&C's apply.
Get up to £210 to Switch and Stay. £150 to switch by 31st October 2023, plus earn up to £60 in double cashback! (£10 a month for 6 months). Log into TSB App, make one debit card payment and set up 2 Direct Debits. Earn cashback by making 20 debit card payments per month T&Cs apply.

Representative Example: If you use an arranged overdraft of £1,200, you'll be charged the equivalent annual rate of 39.9% EAR (variable). Representative APR 39.9% (variable).
Product Features

Earn £5 cashback a month for 6 months for all new customers. If you’ve switched to TSB, they’ll double it to £10 a month for 6 months!

Get 2.92% AER variable interest on balances up to £25k across 5 Savings Pots. Includes fixed introductory bonus of 1.52% AER for the first 12 months. After 12 months variable interest without bonus will apply. Interest paid monthly

Access to a Monthly Saver paying 5.00% Gross/AER fixed for a year. Save £25 to £250 per month by standing order from your TSB current account. Interest is paid on maturity
Eligibility / Restrictions

Eligible for Cashback if you open a new Spend & Save account, including changing from an existing TSB current account, other than from a Classic. Direct debits and withdrawals not included.

UK residents only, 18+

Assumed arranged overdraft of £1200: 39.9% APR representative variable. Subject to application, approval & repayable on demand
More info
Offer

Get £210 to switch and stay. T&C's apply.
TSB Spend & Save Plus Account

Protected
Monthly Fee

£3

Interest Rate

0%

Arranged Overdraft Rate

39.9%

Minimum Monthly Credit

None

See Deal
Offer
Get £210 to switch and stay. T&C's apply.
Get up to £210 to Switch and Stay. £150 to switch by 31st October 2023, plus earn up to £90 in your first year including double TSB cashback (for 6 months), by making 20 debit card payments per month. Log into TSB App, make one debit card payment and set up 2 Direct Debits. T&Cs apply.

Representative Example: If you use an arranged overdraft of £1,200, you’ll be charged the equivalent annual rate of 39.9% EAR (variable). Representative APR 40.1% (variable).
Product Features

Earn £5 cashback a month for all new customers. If you’ve switched to TSB, they’ll double it to £10 a month for 6 months!

Zero TSB card charges abroad. ATM operators/foreign banks may charge & sellers may apply a currency conversion fee on purchases

Get 2.92% AER variable interest on balances up to £25k across 5 Savings Pots. Includes fixed introductory bonus of 1.52% AER for the first 12 months. After 12 months variable interest without bonus will apply. Interest paid monthly
Eligibility / Restrictions

Eligible for Cashback, if you open a new Spend & Save Plus account, including changing from an existing TSB account (Direct Debits and withdrawals not included)

Up to £100 interest-free arranged overdraft available subject to status

UK residents, 18+ only
More info
Offer

Refer A Friend and get £125 for you, £125 for your friend if they switch*
The Co-operative Bank Everyday Extra Packaged Bank Account

Protected
Monthly Fee

£15

Interest Rate

0%

Arranged Overdraft Rate

35.9%

Minimum Monthly Credit

None

See Deal
Offer
Refer A Friend and get £125 for you, £125 for your friend if they switch*
*Offer is subject to eligibility criteria, which includes completing a full account switch, registering for online and/or mobile banking, making a minimum of five debit card payments, depositing at least £800 and having two active Direct Debits within 60 days of account opening. T&Cs apply.

Representative Example: If you use an arranged overdraft of £1,200, you’ll be charged the equivalent annual rate of 35.9% EAR (Variable). Representative APR 35.9% (Variable).
Product Features

Includes AXA worldwide family travel cover with no claim excess, RAC UK & European breakdown cover and worldwide mobile phone insurance (excess applies)

Option to opt-in to Everyday Rewards at no extra cost to get rewards of up to £2.20 a month for making everyday use of your current account

Manage your money easily either online or in the mobile app
Eligibility / Restrictions

To apply you must be between 18 & 79 years old. £15 account fee per month. Approval is subject to status. Eligibility criteria, exclusions & limitations apply

Everyday Rewards subject to qualifying conditions
More info
HSBC Advance Bank Account

Protected
Monthly Fee

Free

Interest Rate

0%

Arranged Overdraft Rate

39.9%

Minimum Monthly Credit

£1,750

See Deal
Representative Example: If you use an arranged overdraft of £1,200, you'll be charged the equivalent annual rate of 39.9% EAR (variable). Representative APR 38.9% (variable).
Product Features

Get an arranged overdraft of at least £1,000 when you open an account

Access to a Regular Saver account

No monthly fee
Eligibility / Restrictions

You must be 18 or older and live in the UK or EU

To be eligible for HSBC Advance, customers will need to pay in a minimum of £1,750 per month or £10,500 over 6 months and be approved for an overdraft of £1,000+.
More info
Santander Edge Current Account

Protected
Monthly Fee

£3

Interest Rate

0%

Arranged Overdraft Rate

39.94%

Minimum Monthly Credit

None

See Deal
Representative Example: If you use an arranged overdraft of £1,200, you'll be charged the equivalent annual rate of 39.94% EAR (variable). Representative APR 39.94% (variable).
Product Features

Earn 1% cashback every month on selected household bills paid by Direct Debit, capped at up to £10 each month

Earn 1% cashback every month on supermarket and travel spend when you use your debit card, capped at £10 each month

Access to Santander Edge Saver with 7.00% AER / 6.78% gross (variable) which includes a 2.50% AER / 2.47% gross (variable) bonus rate for the first 12 months from opening

Get cashback, vouchers, prize draws and other offers personalised to you when you use Santander Boosts
Eligibility / Restrictions

For cashback on household bills and essential spend, you must pay a minimum of £500 into your account each month; have 2 active Direct Debits and be over 18 and live in the UK permanently

To be eligible for Santander Boosts, you must have a personal Santander debit or credit card, be 18 years or over and be registered for Online and Mobile Banking.
More info
Santander Edge Up Current Account

Protected
Monthly Fee

£5

Interest Rate

3.50%

Arranged Overdraft Rate

39.94%

Minimum Monthly Credit

£1,500

See Deal
Representative Example: If you use an arranged overdraft of £1,200 you'll be charged the equivalent annual rate of 39.94% EAR (variable). Representative APR 39.94% (variable).
Product Features

Earn 1% cashback (up to £15 a month) on selected household bills when you pay by Direct Debit

Earn 1% cashback (up to £15 a month) at supermarkets and on travel costs when you use your debit card (exclusions apply)

Make international payments with no extra fees (the bank receiving the payment may still apply charges)

No charge for making CHAPS payments from this account

Get cashback, vouchers, prize draws and other offers personalised for you with Santander Boosts
Eligibility / Restrictions

You must be over 18 and live in the UK permanently to open the account

To earn cashback and interest, you must pay in £1,500 each month and have 2 active Direct Debits

You may only hold a maximum of two Santander Edge Up current accounts, one in your own name and one in joint names

To be eligible for Santander Boosts, you must have a personal Santander debit or credit card, be 18 years or over and be registered for Online and Mobile Banking
More info

Please note: Our comparison service features a selection of providers from whom we receive commission. This table is initially ordered according to our commercial arrangements. You can use the options above the table to order it according to various criteria.

Other comparisons

What our Nerds say about current accounts

A current account is a bank account for day to day transactions, a place for receiving and paying money out. It may also be known as a personal bank account or a standard account.

Learn about personal current accounts

Last updated on 14 August 2023.

Jump to a topic:

What is a current account?

How do I choose the best current account?

Can I have more than one current account?

How can I switch my current account?

How do I open a current account?

Benefits of a current bank account

High street or challenger bank?

What are the different types of bank accounts?

Current Account FAQs

What is a current account?

A current account is a bank account for day-to-day transactions, a place for receiving and paying money out. It may also be known as a personal bank account or a standard account.

The way it works is simple – just choose your provider and open your account. You’ll receive a debit card you can use to withdraw your cash. Any incoming payments – salary, wage, or benefits – will likely be paid into your current account, and you can set up regular outgoing payments, such as standing orders or direct debits, too.

How do I choose the best current account?

To choose the best current account for you, it can be helpful to use a comparison table like NerdWallet’s. At a glance, you’ll be able to see the features and benefits that come with each different account. You’ll be able to tell from the table whether the provider charges a monthly fee, what the arranged overdraft limit and any interest rate is, and if there’s a minimum amount you have to commit to paying in each month.

Can I have more than one current account?

Yes, you can – there’s no limit to the number of current accounts a person can open and run.

How can I switch my current account?

The easiest thing to do is to use the Current Account Switch Service. This is free and takes care of everything for you – including switching over your direct debits and other active outgoing payments.

You can switch your current account yourself by contacting your old bank to close your account after opening a new one. However, this can be fiddly, and you’ll have to remember to transfer all your existing outgoing payments manually.

Some banks will offer potential customers money or similar incentives to switch to their current account, so make sure you research what’s out there as there are good deals to be had.

How do I open a current account?

To open a current bank account, first identify the best one for you. Then get in touch with the bank that provides it. They’ll check your credit history, as well as asking you for proof of identity and address. Documents such as a driving licence, passport, birth certificate, council tax or other utility bill, can cover this, but make sure you check what the bank specifically requires.

Many banks now offer online banking, where you can manage your account online – you can view statements, make payments, and check your balance, among other things.

Benefits of a current bank account

As well as the standard features you would expect from a current account – such as the ability to make and receive payments, to withdraw cash with a debit card, and to arrange an overdraft – some current bank accounts may also come with added benefits, such as:

Budgeting tools
Cashback and rewards
Balance and overdraft alerts

High street or challenger bank?

High street banks are still the preferred option for most current account holders, but challenger banks and online-only current account providers are fast becoming popular with people looking to switch their current account or open a new one.

Online-only account providers often offer more insight into your finances through apps and other tech-based tools. They sometimes pay favourable interest rates, and people with poor credit ratings may find them easier to get approval for. Setting up an online account can also be quicker and easier than setting up a traditional bank account. However, some online-only current accounts may not have all the same features and services as a high street bank account. High street banks still provide in-person banking services at a branch, although even traditional banks are increasingly offering online banking and app-based mobile banking to customers.

What are the different types of bank accounts?

There are many different types of bank accounts available, catering to the needs of many different customers.

Personal account: A personal account is just another name for a standard current account, from which you can carry out all your daily financial activities.
Basic account: Basic accounts only give you the ability to pay money in and make payments from your account, with no overdraft or other enhanced features although it may be possible to add these once you have had the account for a while. They can help people with poor or bad credit to repair their credit score.
High interest account: A high interest current account pays a higher rate of interest on your balance than is usual for current accounts.

» COMPARE: High interest current accounts

Packaged account: A packaged account comes with lots of added extras for which you pay a monthly fee.

» COMPARE: Packaged current accounts

Joint account: Joint accounts are set up between two or more people. Each person is legally responsible for the money in the account, and can make deposits and withdrawals as they wish.
Student account: Student bank accounts are made for people in further and higher education. They come with an interest-free overdraft facility and may also offer rewards such as free travelcards or subscriptions.
Child account: Children can open their own bank account from the age of 11. They won’t get an overdraft, but even simple actions like paying money in and out can teach children good financial habits.
Cashback account: With a cashback account you can earn money as you spend. You’ll get a small percentage back from your purchases, and possibly from monthly bill payments too, depending on your provider.
Business account: A business account is an account solely used for business transactions. It’s handy for tax returns, as it keeps business and personal transactions separate, and may come with useful tools, too.

» COMPARE: Business bank accounts

Bad credit account: A bad credit bank account is also known as a prepaid bank account. Prepaid bank accounts only let you spend money you’ve already paid in.

» COMPARE: Bad credit current accounts

Current Account FAQs

Are current accounts free?

This depends on the terms and conditions of the account. Usually, as long as you have money in your current account and you use it regularly for your wage or salary, you won’t have to pay. However, some current accounts come with extra features or benefits, and there may be a monthly fee for these.

Does a current account switch close my old account?

Yes, if you use the Current Account Switch Service. This is a free service that takes care of transferring all your payments and your balance to your new account, while your old bank will close your old account. You can also close your old account manually if you prefer, just by getting in touch with your bank.

How much cash can I deposit in my current account?

It’s hard to say for sure how much cash you can deposit in your current account in any one transaction, as each bank may have a different limit but these should be outlined in your T&C’s. However you should note that for out of the ordinary deposits or large transactions above the region of £5,000. The bank may have to ask you some questions to check where the money came from. This may be uncomfortable for you, especially if you’re a long-term customer, but it’s not personal. It’s a legal requirement, due to tighter money laundering laws that were introduced in 2017 and 2020.

Can I transfer from my credit card to my current account?

This depends on what type of credit card you have. Transferring money from your credit card to your current account is possible if you hold a money transfer credit card, which was created for this very purpose. Otherwise, you could withdraw cash from an ATM using your credit card, and then pay it into your bank account – but be aware that this can be very expensive, and you could be clocking up interest and other charges from the moment you take out the money.

Can I add someone to my current account?

Many UK banks allow a second authorised user (also known as an additional cardholder or a secondary signer) to be added to an existing current account, so check with yours to find out if this is possible, and if so, how to go about it. If the person you want to add to your current account doesn’t already bank with your provider, you may have to set up an in-person meeting and provide valid ID documentation to get your bank’s approval.

How do I close my current account?

It’s easy to close your existing current bank account, and there are a couple of ways to do it. If you plan to switch to a new current account using the Current Account Switch Service, you can simply leave it up to them to also close your old current account.

If you’re not using the Current Account Switch Service, just get in touch with your bank and explain you want to close your account – they’ll be able to take care of it for you. Keep in mind that if you owe any money to them, for example through an overdraft, or other fees, you’ll have to pay it all back before you can close your account. And make a note to transfer any regular outgoing payments from the account you’re closing, to another account.

Are current accounts taxed?

They can be – but only if you have earned a significant amount in interest on the money in your current account. In general this is up to £1,000 for basic-rate taxpayers, and up to £500 for higher-rate taxpayers. You may also be able to earn more interest tax free if you have a low income from all other sources. You should always check the latest tax allowances and consult with a qualified tax professional if unsure. However, as current accounts don’t generally earn much interest compared to savings accounts, it’s unlikely you will be taxed much, if at all, on the contents of your current account.

Are current account funds protected?

Yes, up to a certain amount. Your current account funds will fall under the protection of the Financial Services Compensation Scheme (FSCS) if the bank you hold funds with fails. This compensation is limited up to a total of £85,000 per person, per institution (or banking group). There may also be higher limits of compensation for joint accounts.