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18+, UK residents

• Rewards when you spend
• Interest when you don't
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No overseas fees

• Easy to set up
• Good for budgeting and categorising spending
• Automatic saving feature

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Earn cashback when you spend

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• Easy to apply
• No overeas fees for using Santander cash machines
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Product	Finder Score	Account fees	Funding requirement	Interest (AER)	Arranged overdraft	Incentive	Representative example
Chase Current Account Offer	Finder score 8.2Great	£0	No minimum funding requirement	0% AER		Receive 1% cashback on everyday debit card purchases capped at £15.	18+, UK residents. Cashback available for your first 12 months for new customers. Max £15 per month. Cashback exceptions apply.	View details Compare	loading Fetching your data...
NatWest Premier Select Account Offer	Finder score 7.8Great	£0	No minimum funding requirement	0% AER	34.49% EAR (variable)	No foreign transaction fees on purchases abroad (ATM withdrawals & local fees may apply).	To apply, you need to be 18+ and a UK resident and have ONE of the following: Pay a minimum £100k sole income or £120k joint income paid into a NatWest account. Have £500k minimum mortgage borrowing with us. A minimum £100k savings or investments held with us. Representative Example: Assumed arranged overdraft of £1,200. Effective annual interest rate 0% on arranged overdrafts up to £500, 34.49% EAR (variable) above £500. Representative 20.1% APR (variable). How does this overdraft compare? Representative APRs help you compare the cost of different credit products.	Go to siteView details Compare	loading Fetching your data...
TSB Spend & Save Account Finder AwardCashback	Finder score 7.1Great	£0	No minimum funding requirement	0% AER	39.9% EAR variable	Switch for up to £310 by switching your bank account to TSB. £100 welcome bonus and up to £90 in cashback. Plus, in January, choose a £120 hotel voucher or access to 12-months of activity tickets. T&Cs apply.	If you use an arranged overdraft of £1,200, you'll be charged interest at 39.9% EAR variable/APR representative.	Go to siteView details Compare	loading Fetching your data...
first direct 1st Account Offer	Finder score 8.2Great	£0	No minimum funding requirement	0% AER	0% EAR variable on the first £250 and then 39.9% EAR variable	Switch to a 1st Account and get £175*. Requires credit check. New customers only and T&Cs apply.	*Within 45 days of your account opening you need to switch to first direct using the Current Account Switch Service (including at least 2 direct debits or standing orders), deposit £1000, make 5+ debit card payments and log in to digital banking. New customers only, who haven’t previously held a first direct or HSBC product on or after 1 January 2018. Representative Example: How does our overdraft compare? The representative APR shows the cost of borrowing over a year, so you can use it to compare the cost of our overdraft against other overdrafts and ways of borrowing. 0% EAR variable on the first £250, 39.9% EAR variable thereafter, giving a representative rate of 30.5% APR variable (assumed arranged overdraft £1,200). For customers with an offset mortgage linked to a 1st Account, the interest-free limit will not apply.	Go to siteView details Compare	loading Fetching your data...
Revolut Standard Account Exclusive	Finder score 9.1Excellent	£0	No minimum funding requirement	0% AER		Get a £20 welcome bonus when you spend your first £20 (T&Cs apply).	Go to siteSee dealView details Compare	loading Fetching your data...
Monzo Free Account Finder Award	Finder score 9.8Excellent	£0	No minimum funding requirement	0% AER	39% EAR variable	Monzo Instant Access Savings Pot earns you 3.25% AER interest (variable), paid monthly into the Pot you create.	Representative example: If you use an arranged overdraft of £1,200, you'll be charged interest at 39% EAR variable. Account fee of £0.	Go to siteView details Compare	loading Fetching your data...
NatWest Select Account	Finder score 9Excellent	£0	No minimum funding requirement	0% AER	39.49% EAR variable (subject to status)	You must be 18+ and a UK resident. Representative Example: Effective Annual Rate: 39.49% EAR (variable). Representative APR: 39.49% APR (variable). Assumed credit limit: £1,200 Subject to status. How does this overdraft compare? Representative APRs help you compare the cost of different credit products.	Go to siteView details Compare	loading Fetching your data...
Santander Everyday Current Account	Finder score 8.5Great	£0	No minimum funding requirement	0% AER	39.94% EAR variable	Earn £180 cash when you switch to an Everyday Current Account. To receive the £180, complete a full switch, set up 2 active household Direct Debits and pay in £1,500 within 60 days (T&Cs apply).	Representative example: If you use an arranged overdraft of £1,200, you'll be charged interest at 39.94% EAR variable.	Go to siteView details Compare	loading Fetching your data...
Starling Current Account - Age 18 and over	Finder score 9.6Excellent	£0	No minimum funding requirement	0% AER	15% EAR variable	Representative example: If you use an arranged overdraft of £1,200, you'll be charged interest at 15% APR variable. Representative APRs help you compare the cost of different credit products. Subject to financial status.	View details Compare	loading Fetching your data...
TSB Spend & Save Plus Account Finder AwardCashback	Finder score 9.3Excellent	£3 per month	No minimum funding requirement	0% AER	0% EAR variable on the first £100 and then 39.9% EAR variable	Switch for up to £310 by switching your bank account to TSB. £100 welcome bonus and up to £90 in cashback. Plus, in January, choose a £120 hotel voucher or access to 12-months of activity tickets. T&Cs apply.	Representative example: If you use an arranged overdraft of £1,200, you'll be charged interest at 0% EAR variable. Account fee of £3 per month.	Go to siteView details Compare	loading Fetching your data...
Card One Money Current Account Cashback	Finder score Not yet rated	£12.50 per month	No minimum funding requirement	0% AER		Earn cashback of up to 3.5% at more than 35 major high street retailers when using CardOneMoney card.	Account fee of £12.50 per month or £5 per month.	Go to siteView details Compare	loading Fetching your data...
Royal Bank of Scotland Select Account	Finder score 8.7Great	£0	No minimum funding requirement	0% AER	39.49% EAR variable (subject to status)	You must be 18+ and a UK resident. Representative Example: Effective Annual Rate: 39.49% EAR (variable). Representative APR: 39.49% APR (variable). Assumed credit limit: £1,200 Subject to status. How does this overdraft compare? Representative APRs help you compare the cost of different credit products.	Go to siteView details Compare	loading Fetching your data...
Santander Edge Current Account Cashback	Finder score 9.8Excellent	£3 per month	Min. £500 Per Month (Minimum two direct debit mandates on account per month)	0% AER	39.94% EAR variable	Earn £180 cash when you switch to a Santander Edge current account. To receive the £180, complete a full switch, set up 2 active household Direct Debits and pay in £1,500 within 60 days (T&Cs apply).	Representative example: If you use an arranged overdraft of £1,200, you'll be charged interest at 39.94% EAR variable. Account fee of £3 per month.	Go to siteView details Compare	loading Fetching your data...

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Finder Score for bank accounts

To make comparing even easier we came up with the Finder Score. Fees, features and customer service across 20+ of the most popular banks are all weighted and scaled to produce a score out of 10. The higher the score the better the account – simple.

What’s a current account?

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.

How to compare current accounts

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:

• Switching bonus and rewards. Banks are vying for customers and have lots of tasty offers to get you to join. The most popular is, unsurprisingly, a big fat lump sum of cash! Look at what switching incentives are available at the moment, or compare current accounts with ongoing rewards here.
• Great mobile app and low fees. Banking directly from your phone will make tracking your finances easier and more fun (maybe?). Check out current accounts with great apps.
• Overseas spending. If you travel often, you want to be able to do it without paying any fees. High-street banks tend to be quite bad at this, so if low-cost travel is important to you, you may want to consider a challenger bank like Monzo or Starling, or a banking app like Revolut. This article shows the best cards for travelling overseas.
• Interest rate. Not many current accounts pay an interest rate these days, but getting one of the few that do can be a nice way of topping up your monthly balance. Plus, sometimes opening a current account with a certain bank also gives you access to promotional rates on its savings accounts – if you need one, it’s a factor worth considering. Compare high-interest current accounts here.
• Cheap overdraft. Overdrafts make an expensive way of borrowing money, so you should avoid them if you can. However, if you know you’re going to use yours, choosing an account that prices them fairly becomes pivotal. Compare current accounts with overdrafts here.
• Insurance benefits. In return for a monthly fee, some current accounts (the so-called “packaged” accounts) come with a whole lot of insurance benefits. It isn’t always the cheapest deal you can get, but it’s a great way of getting yourself very comprehensive cover levels for 12 months a year. Compare packaged accounts here.

Have you thought about a mobile-only bank?

Digital banks like Monzo or Starling have stolen the headlines in fintech for the last few years. In the Finder office we’re big fans – here’s why:

• Cool features. Digital banks are constantly evolving and adding interesting features. The whole experience feels more user-centred and it’s easier to keep an eye on your spending, make budgets and personalise the whole thing too.
• Easy to set up. You just download the app, enter your data and confirm your identity. It usually takes less than 10 minutes.
• No fees. This usually also applies to spending abroad.

How to switch current account

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:

• Your balance and recurring payments are automatically transferred to your new account. This includes both direct debits and standing orders.
• Your old account is closed. Your transaction history will not be transferred to your new account, so it’s a good idea to make sure you’ve got all your bank statements first.
• Incoming payments to your old account will be redirected. A message with your new bank details is also automatically sent to the payer.

Depending on what your new bank is offering at the time, switching through CASS may also allow you to access switching bonuses and rewards.

Types of current accounts

Apart from standard current accounts that prioritise one feature or another, there are also dedicated types of current accounts to suit other specific needs:

• Joint current accounts. Most current accounts can be opened together with another person (your partner, another member of your family, a friend). Just be aware that this creates a financial association between the two of you, which may potentially impact your credit score. Learn more on joint accounts here.
• Bad credit. Most banks perform a credit check when you apply for a current account. If your credit score is less than ideal, you may still be offered an account, but you may not get an overdraft. Learn more on current accounts for people with bad credit.
• Student accounts. If you’re a student, you can bag great perks and rewards and a fee-free overdraft with a student current account.
• Children accounts. In order to be eligible for an adult current account, you usually need to be 16 or 18. However, children’s current accounts are available to kids as young as 11.
• Business accounts. If you run a limited company or are a sole trader, it’s a good idea to keep your business finances separated from your personal finances. You can do this with a business current account.

Potential current account fees and costs

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:

• Monthly fee. Most current accounts are free, but some will charge a monthly fee, especially if they offer special perks and benefits.
• Overdraft charges. Overdrafts tend to be costly. Always check how much your bank charges before using yours.
• Foreign transaction fee. Many debit cards charge a fee when you spend in a currency other than sterling. The foreign transaction fee often amounts to around 3% of the transaction. If you want to avoid it, you could consider having a dedicated account for when you’re travelling – digital banks like Monzo and Starling don’t charge foreign transaction fees.
• ATM withdrawal fee. Withdrawing cash may come for a fee with some current accounts, especially if you do it overseas.
• International money transfer fees. Sending or receiving money in a currency other than sterling is likely to be quite expensive with a standard current account. You may want to consider a money transfer service instead.
• Cheque fees. There’s usually a pretty hefty fee for cancelling a cheque.

Frequently asked questions

• Can I get a current account?

  To be eligible to open a current account, you must be a legal UK resident, and at least 16 years old. Some banks may stipulate that you must be 18 if you don’t have parental approval. You may also need to be credit checked – this is because many current accounts will come with an overdraft that may be reduced if you have a poor credit history.

• How do I apply for a current account?

  With most banks, you can usually apply online – you will need to provide your personal and financial details. In some cases, you may then be asked to pop into a branch to have your ID verified. If you’re applying for an account with a digital-only bank, you’ll usually need to apply from the mobile app and to provide a picture of your ID.

• Can I add someone to my current account?

  You usually can. You’ll have to get in touch with your bank, who will be able to turn your personal current account into a joint account.

• How much should I pay into a current account?

  There are no fixed rules and you can keep as little as £1 in your current account. However, people usually have their salary paid into their current account and keep most of it there to spend it over the course of the month, together with some emergency funds that are thus easily accessible if anything goes wrong. It’s also a good idea to open a savings account to put your savings aside (so you’re less tempted to spend them). Finally, keep in mind that some current accounts may require you to deposit a minimum sum every month in order to access certain benefits.

• What type of current account is right for me?

  It all depends on your circumstances, but in a nutshell, you want: a) no fees, b) agility (your account must be easy to manage and use) and c) some nice rewards and perks if possible. In our opinion, the first two things beat the third one – rewards and bonuses are great, but being able to keep on top of your finances for free and with no headaches is much more important.

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