We've found the best Current Accounts

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TSB Classic Plus Current Account
TSB
  • 5% AER variable interest on balances up to £2,000*
  • 5% contactless cashback

 

*To earn 5%AER/4.89% Gross (variable) on balances up to £2000. You must deposit £500+ per month. Cashback will be paid on qualifying purchases until 31 December 2016. Subject to application and approval. Available to existing and new customers.

Firstdirect 1st Account

  • £13*Annual Cost
  • £250Interest Free Overdraft
  • 15.90%Authorized Overdraft Rate
Am I eligible?
Minimum Income:-
Minimum Age:18
Maximum Age:-
Existing Customers:No
Additional Account required:No
Area Restrictions:There are no area restrictions.
Minimum Monthly Credit£0
Account Charge£0
Online Service4.79
Call centre Service4.85
Branch Service4.45
*Annual Cost Scenario£600 overdrawn 7 days per month
  • £100 sign up fee - and £100 if you choose to leave after six months
  • First £250 overdraft is interest and fee free
  • Multi award winning customer service
  • No interest paid on credit balances

M&S Bank Current Account

  • £18*Annual Cost
  • £100Interest Free Overdraft
  • 15.90%Authorized Overdraft Rate
Am I eligible?
Minimum Income:-
Minimum Age:18
Maximum Age:-
Existing Customers:No
Additional Account required:No
Area Restrictions:There are no area restrictions
Minimum Monthly Credit£0
Account Charge£0
Online Service4.72
Call centre Service4.51
Branch Service4.53
*Annual Cost Scenario£600 overdrawn 7 days per month
  • £100 M&S giftcard when you switch to M&S Bank
  • No fees for unauthorised overdrafts
  • No interest paid on credit balances

Post Office Standard Account

  • £21*Annual Cost
  • £0Interest Free Overdraft
  • 14.60%Authorized Overdraft Rate
Am I eligible?
Minimum Income:-
Minimum Age:18
Maximum Age:-
Existing Customers:No
Additional Account required:No
Area Restrictions:No area restrictions.
Minimum Monthly Credit£0
Account Charge£0
Online Service
Call centre Service
Branch Service
*Annual Cost Scenario£600 overdrawn 7 days per month
  • Cheaper than many high street banks to use your debit card abroad
  • No interest paid on credit balances

 

What is an authorised overdraft?

 

An overdraft occurs when you spend more than you have in your account. If this happens when you haven’t already agreed an overdraft facility, you’ll fund yourself using an unauthorised overdraft, which charge hefty fees. If you’re the kind of person that will regularly require an overdraft, you should look for an account with a low authorised overdraft fee.

 

How do we rank them?

 

The best bank accounts for authorised overdraft are ranked based on the lowest annual cost of operating an account with £600 overdrawn for seven days a month.

 

Moneywise Best Buys

 

It can be really difficult to choose the right product. However, we have conducted our own rigorous research and carefully selected the best deals out there. Unlike our competitors, we do not get paid to show you products from certain companies (only our featured product box is paid for by an advertiser). Instead, we have independently chosen the products we feel are the best in the market. Only if you decide to apply for a product using the “Go to site” button will Moneywise receive a small payment from the product provider, but this does not influence the way we rank products – our aim is quite simply to present you with the best products.