Current accounts

Compare current accounts with Lovemoney.com Financial Services and switch your bank[1]

  • Find accounts with competitive interest rates and lower overdraft costs
  • See accounts offering switching bonuses and the features you need
  • Midata matches you to the right account by analysing your banking

 

  • The best current accounts are changing all the time

    The best current account for you might not be the same in six month's time - perhaps interest or overdraft rates have changed, or you could get a cash bonus by switching to a different bank. Deals change all the time and switching takes just seven days, so shop around regularly to make your banking work harder for you.
    Abbie Laughton-Coles, GoCompare money editor
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Compare current accounts and find better banking

Your current account is perhaps your most essential financial product - it’s usually used to receive your salary, pay your bills and carry out everyday spending.

Given how important the humble current account is to you, it’s surprising so many of us don’t compare and switch bank accounts - but there’s potentially a lot to gain if you do.

Why should I switch current accounts?

Get informed

You might have had the same current account since you were a teenager, but you’d be surprised how much difference there is between the different accounts on offer.

You might want to switch accounts for any of these reasons:

  • A better rate of interest on your bank balance
  • A switching bonus paid when you meet certain terms and conditions
  • Lower interest and fees on overdrafts

We know that different banking features are important to different people, so when you compare current accounts with us you can order your results by each of these features and check for any annual fees.

Midata - more powerful current account comparison

Above your current account results you’ll see a button inviting you to search for accounts using midata.

Midata is our supercharged comparison service that lets you see the benefits of switching, down to the pounds and pence.

It works by using your existing banking history to analyse your usage - give it a try and we’ll take you through the process, step by step.

Choose the right current account for you

Current account users fall into two broad categories: those of us who are in credit and those of us who use an overdraft.

Of course, you might be a bit of both, but if you never use an overdraft, you might want to look for the account with the highest credit interest rate; if you slip into the red you should check which current account offers you the cheapest overdraft.

Time to switch it up…?

  • According to a 2015 CMA report, 37% of consumers had been with their personal current account provider for more than two decades.[2] Banks rarely reward loyalty - see if you’re due a better deal!

There are other factors that might sway your choice of bank account though: a healthy reward for switching your account, for instance - just check you meet the terms and conditions first.

You might also be attracted by things like an online banking app, or perhaps a packaged bank account that comes with things like mobile phone insurance or breakdown cover bundled - just be aware that there’s usually a monthly fee for these accounts, so make sure they work out good value for you.

If you need to know more about joint bank accounts, offshore accounts, religious accounts, or business banking, you’ll find a stash of information on all this and more in our library of current account guides.

You’ll also find loads of useful information on direct debits, offset mortgages, dormant accounts, zombie payments, credit scores and the midata project.