We've found the best Current Accounts

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first direct 1st Account
firstdirect
  • £100 signup fee - and £100 if you choose to leave after six months*
  • First £250 overdraft is interest and fee free
  • Multi award winning customer service

 

*Terms & Conditions apply

Nationwide FlexDirect

  • £125*Annual return
  • 5.00%Interest Rate
  • 4.66Customer Score
Am I eligible?
Minimum Income:-
Minimum Age:18
Maximum Age:-
Existing Customers:No
Additional Account required:No
Area Restrictions:There are no area restrictions that apply to this account.
Minimum Monthly Credit£1,000
Account Charge£0
Online Service4.63
Call centre Service4.38
Branch Service4.53
*Credit Interest ScenarioAnnual return is based on the assumption that you have a credit balance of £3,000. 5% paid up to a maximum balance of £2,500. To get the rate you will have to pay in £1,000 per month.
  • Fee free overdraft for 12 months
  • Access to exclusive rates and deals on other Nationwide products
  • 5% interest paid on balances up to £2,500 for first year.
  • The 5% rate is an introductory offer and only lasts for the first 12 months. From year two the rate drops dramatically to just 1% on the first £2,500 balance

TSB Classic Plus

  • £100*Annual return
  • 5.00%Interest Rate
  • 4.35Customer Score
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£500
Account Charge£0
Online Service4.40
Call centre Service4.11
Branch Service4.34
*Credit Interest ScenarioAnnual return is based on the assumption that you meet the qualifying criteria to receive the 5% AER and have a credit balance of £3,000. 5%/4.89%Gross (Variable) paid up to a maximum balance of £2,000. The Annual Return includes 20% tax. (a)
  • 5% AER on balances up to £2,000. Must pay in £500 a month, register for internet banking and paperless statements and correspondence.
  • 5% Cashback on your first £100 Contactless payments every month. Contactless Subject to eligibility. End Sept 2017. (T&Cs apply)
  • 3 months interest free overdraft for switchers.
  • There is no interest paid on the element of credit balances in excess of £2,000.

Santander 123 Current Account

  • £90*Annual return
  • 1.50%Interest Rate
  • 4.31Customer Score
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£500
Account Charge£5
Online Service4.40
Call centre Service4.06
Branch Service4.31
*Credit Interest ScenarioAnnual return is based on the assumption that you have a credit balance of £3,000. 3% is paid from £3,000 to £20,000. Other tiers are also available: 0% up to £999, 1% from £1,000 to £1,999, 2% from £2,000 to £2,999. Scenario doesn't include £60 annual fees, or cashback paid on utilities (1% on water, council tax and Santander mortgages, 2% on gas and electricity bills and 3% on phone, broadband and paid TV subscriptions).
  • Earn cashback on your utilities direct debit payments
  • Highest available interest on larger balances (Up to £20,000)
  • There is no interest paid on balances when they fall below £1,000.
  • £60 Annual Fee

Table Notes:

 

(a) Must register for internet banking, opt for paperless statements and correspondence

 

What is a credit interest account?

 

This is a current account that pays you interest on a credit balance in your bank account.

 

How do we rank them?

 

Bank accounts are ranked based on the amount of interest earned over 12 months (after basic tax), based on an average balance of £3,000.

 

What should I look out for when choosing a current account?

 

  1. Some accounts might charge an annual or a monthly fee. If so, you need to calculate how much net return you get from the interest paid, to ensure the fees don't wipe out the interest.
  2. Don’t forget to check the limit on which you can earn interest – any amount above the limit will earn you nothing.

 

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