Danske Bank current accounts for September 2020

Earn cash rewards and enjoy versatility with Danske Bank.

Danske Bank has a range of current accounts suited to a variety of purposes. Here’s a handy overview:
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Types of current accounts from Danske Bank

  • Danske Cash Reward

    Danske Bank’s Cash Reward account offers you a £7 cash reward paid monthly into your account, zero interest and fees on the first £100 of any overdraft and no fees on cash withdrawal in non-sterling currencies. However, to get the £7 reward, you must have at least £1,200 deposited into your account. Overdraft fees will apply if the overdraft amount exceeds £100. There’s also a £2 monthly account fee.

  • Danske Choice

    Danske Bank’s everyday current account comes with an arranged overdraft of £7,500 with no set-up fee, the first £100 of said overdraft being both interest- and fee-free. It can be applied for online, by phone or in person.

  • Danske Freedom

    The Freedom account is aimed at students and young adults between the ages of 18 and 27. Eye-catching features include an interest-free overdraft of up to £3,000, zero commission on foreign currency, favourable interest rates on Danske’s fixed rate personal loans and discounted arrangement fees for mortgages.

  • Danske Discovery

    Targeted at 11- to 17-year olds, this current account comes with contactless payment, Apple Pay, Samsung Pay and a mobile app that allows you to make transactions with just a mobile number via Paym. There’s no overdraft with the Discovery account. Under-16s will also need a parent or guardian’s permission to register for the app and open the account.

  • Danske Standard

    Finally, the Standard current account is Danske Bank’s most straightforward, back-to-basics option. It comes with a Mastercard, access to eBanking and the ability to set up direct debits and standing orders free of charge. There’s no overdraft or chequebook and it’s not available if you already have a current account.

The benefits of banking with Danske Bank

  • Perks. Perks include an arranged overdraft of £7,500 with no fee, favourable interest rates on personal loans and a monthly cash reward paid directly into your account.
  • Multiple ways to bank. Danske Bank offers a range of ways to handle your funds, including eBanking and high-street branches.
  • Global acceptance. If you bank with Danske Bank you’ll get either a Visa or a Mastercard, so you really don’t have to worry about card acceptance, no matter where you are in the world.
  • Round-the-clock assistance. If you lose your card or if it’s stolen, you can call Danske Bank 24/7 to get assistance.

Opening an account with Danske Bank

If you’re a new customer and are applying online, you’ll need to be a resident of Northern Ireland. If you’re already a customer and are wanting to open a new current account, you’ll need to live in the United Kingdom. You don’t need to meet either of these criterion to apply in a branch or by phone. You may need to provide proof of identity and current permanent address. You’ll also need to provide copies of your most recent payslips. Once your application has been processed, a form will be sent to you to sign and return.

Why should I compare current accounts anyway?

In one way or the other, you use your current account every day, often multiple times a day. When you buy your morning coffee, when you plan a holiday, when you pay the rent or when it’s finally payday. It’s a basic financial product, but it’s a very important one, so you should really find something that’s tailored to your needs.

Also, competition between banks is quite harsh these days, because current accounts are the most basic way they acquire new customers. They often try to attract them with nice rewards or conspicuous switching incentives, so it’s really worth taking a look at what’s around.

What about digital banking?

If you don’t really care about physical branches and want to deal with your banking online, you may want to look into challenger banks. Monzo, Starling and their competitors are all about signing up for a current account in a few minutes instead of days and offering customers fee-free accounts that come with great mobile apps. Head to our digital banking hub to learn more.

Frequently asked questions

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