Get £200 when you switch

Get £200 when you switch
- No monthly fees
- 24/7 customer support
- Access to the NatWest branch network
Updated
Bank accounts have different overdraft rates and some pay interest on your balance. Use the filters to choose account types and brands, and table headings to sort your results on what matters most to you.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
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 lets you receive your salary, pay your bills, make purchases, and send and receive payments; many accounts offer all this for free. You’ll get an account number, a sort code, a debit card and usually an internet banking service, mobile app or both. Typically, you won’t get a great interest rate on money you’ve deposited in a current account, but most offer an overdraft (which will cost you in interest charges).
While accounts’ basic functions are similar, there are some key differences when it comes to interest rates, customer service, online and app features and, of course, switching incentives like free money. One major difference is that some accounts are protected by the Financial Services Compensation Scheme (FSCS), and some aren’t. The FSCS protects deposits up to £85,000 in your account if you bank goes bust.
The best current account for a school leaver in their first job may not the best one for a frequent traveller with complex financial needs, so you’ll have to figure out which banking features are the most important to you.
Here’s our checklist for how to find the right current account for you.
1. Check the ways you can bank. Do you need an extensive branch network that you can visit in person, or are you happy to manage all of your finances online or on a mobile app? And if your bank doesn’t have branches, can you still access customer support at a time that suits you?
2. Check the features. Some current accounts offer fairly basic features, which is fine if you just need your salary to be paid in and your bills to be paid out. But if you’re looking for a slick mobile app, spending categorisation and budgeting tools, or the ability to arrange an overdraft easily, you’ll need to make sure the account offers all that. You might also decide you want an account with FSCS protection, and many accounts in our table offer this.
3. Check the fees and costs. With free current accounts (all major high street and digital banks offer these), there can still be charges for certain types of transaction, such as using your card overseas, or even paying cash into your account if you’re with a mobile-only bank. If you’ll need an overdraft, confirm what interest rate you’ll pay.
4. Check if a “packaged” or “premium” account would be better value. Some accounts charge a monthly fee in return for a “package” of extra benefits such as mobile phone and travel insurance, breakdown cover or cashback on your bills. These are only worth getting if you would use the benefits and have checked standalone policies wouldn’t be better value for you.
5. Is there a joining or switching incentive? Banks are vying for customers and they often have tasty offers on the table to get you to sign up, or to switch your current account from your existing provider. The most popular incentive is (unsurprisingly) a cash lump sum, so if you’re considering a new current account anyway, you might be able to make a bit of money from it too. But factor the rest of the checklist points into your decision, particularly if you’ll need an overdraft.Current switching deals
Below we have listed the latest switching deals on the market. This list is checked weekly and was last updated on 27 March 2023.
For more information about how to switch, head over to our switching deals guide.
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.
Bank account switching (not necessarily through CASS) has been most popular amongst generation Z (those aged 18 to 24), according to a Finder survey of 2,000 Brits conducted in September 2020. Over half (57%) of generation Z had switched their main current account within two years of turning 18.
Digital banks like Monzo, Starling. or Revolut have stolen the headlines in fintech for the last few years. In the Finder office we’re big fans – here’s why:
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, check all the potential costs. Here are some of the fees you may come across:
We’ve outlined two examples below showing how the cost of a £500 overdraft can vary, depending on what EAR (effective annual rate) your bank charges you. The difference can be huge – you’d save £100 a year in interest on an overdraft of £500 if you picked an account with an EAR of 15%, compared to a rate of 35%.
Current accounts are an essential tool to manage your daily finances. They provide a means to receive your salary and benefits, and enable you to make payments, pay your bills and build your credit history.
There is no one size fits all when it comes to getting a current account, so be sure to do your research to find an account that best suits your circumstances.
When comparing accounts to find the best option for you, there are a variety of factors to consider, including overdraft terms, online banking facilities and customer service quality.
Some accounts, including packaged bank accounts that offer perks like insurance, come with monthly fees, so it’s a good idea to factor these charges when making a decision.
Matthew Boyle is a banking and mortgages publisher at Finder. He has a 7-year history of publishing helpful guides to assist consumers in making better decisions. In his spare time, you will find him walking in the Norfolk countryside admiring the local wildlife.
If you don’t feel like you’re getting much from your bank account, switching has never been easier! Banks and building societies offer up cash and vouchers when you switch, and will handle the boring bits for you.
High-street banking stalwart Lloyds offers a reward scheme for current account customers.
Learn more about the pros and cons of Barclays Blue Rewards.
Learn more about the Santander Edge current account to see if it’s right for you.
We look at switching bonuses, what they are, how they work and which banks offer the best ones. If you’re fed up with your current bank, you could switch accounts and get a nice little cash bonus as an extra perk.
Find out whether it could be worth switching to the Barclays bank account.
Find out whether the RBS Premier Reward current account could be worth switching to.
Find out what the First Direct 1st Account offers to see if it’s right for you.
Learn more about the Lloyds Classic current account and its pros and cons.
Learn more about the Bank of Scotland Classic current account and its pros and cons.
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Can a non-UK resident who works in the UK open a current account online with you?
Hello Ewen,
Thank you for your comment.
Upon checking, yes, you can open a personal UK bank account as a non-resident, but normally you’ll be asked for proof of ID and residential address in the UK.
To open a personal UK bank account you need something to verify your current address and your identity:
-For ID, your passport will do, and any national ID card may help as well;
-For proof of ID and proof of address, a UK driving license (if applicable);
-For proof of address at least two documents no more than three months’ old showing your name and address, e.g. a utility bill and council tax bill, in your name, and sent to your residential address will suffice.
Furthermore, you may get in touch with the bank first to verify.
Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.
Regards,
Jhezelyn
Hi. I am due to get married soon and I am looking for a current account that pays a better rate of interest while we save in the short term.
Hello,
Thank you for your comment.
You may compare bank accounts on this page. Based on the table found on the page, Clydesdale B Current Account has a higher interest rate compared to the other three. However, you would want to compare other features too.
Before submitting an application, please ensure that eligibility criteria are met. Please make sure that you’ve read the relevant T&Cs or PDS of this account to help consider whether the product is right for you.
Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.
Regards,
Jhezelyn