A current account is a bank account that gives you instant access to your money and that you can use for your day-to-day financial life. It allows you to receive your salary, pay your bills, make purchases, send and receive payments and so on. It will come with an account number, a sort code, a debit card and some kind of Internet banking or mobile app facility to manage it.
While the basic functionalities are always the same, different current accounts from different banks will come with a range of different features to suit different needs.
The best current account for a young professional who’s just moved out from their parents’ house will not be the same as the best current account for a CEO, so you’ll need to figure out which features are important for you. You should consider the following:
If you’ve had your current account for years, the idea of switching may sound daunting – many people stick with bad deals just to avoid the hassle. However, the process is in truth quite simple thanks to the Current Account Switch Service (CASS).
Any banks signed up to CASS will switch over your account for you in seven working days. You don’t need to do anything except pick out your new current account and decide on a switch date. Here’s how it works:
Depending on what your new bank is offering at the time, switching through CASS may also allow you to access switching bonuses and rewards.
Apart from standard current accounts that prioritise one feature or another, there are also dedicated types of current accounts to suit other specific needs:
When picking a new current account, you should always make sure you’re aware of all the potential costs. Here are some of the fees you may come across:
Find out which insurance group the MG ZR falls under and how much it costs to insure.
Find out which insurance group the Daewoo Matiz falls under and how much it costs to insure.
Find out what gadget insurance for students includes, who qualifies for it and how to find the best cover for you at the best price.
New to Chip? See if you can keep some more money in your pocket with our promo codes and special offers.
We’ve taken a look at some of the best trading apps in the UK and explained who they’re best suited to. Our table compares fees and services too.
We’ve put together some tips and information on how to open a business bank account in the UK as a non-resident.
Contractors usually need a business bank account, so we’ve put together a guide on how to find one that works for you.
Business overdrafts can be a useful safety net, but be aware of fees and charges.
Looking to set up your own business but not quite ready to get a proper office? You can definitely run your company from home, once you’ve taken care of a few details.
Find out which insurance group the Land Rover Freelander falls under and how much it costs to insure.
finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.