Compare current accounts

Make the most of your money by comparing current accounts[1]

What is a current account?

A current account is a bank account that gives you instant access to your money and is most commonly used for everyday spending.

Your salary, pension and benefits can be paid into it and you can use it to set up direct debits and standing orders, or to pay for bills and purchases immediately.

You can switch your account to another bank or provider to make the most of rewards and offers. Some banks will give you free cash, low or no overdraft fees, or a better interest rate just for switching to its current account.

To find those rewards and the right account for you, you can compare current accounts.

What is a current account?

Make your money work harder, compare current accounts

Compare accounts

Switching current accounts

What should I look for when comparing accounts?

There are lots of different types of current account to choose from, some will be free but others will charge you a monthly fee.

Many accounts now offer switching incentives - cashback, gift cards or a higher interest rate are just a few examples - but make sure you check the small print so you don’t end up paying more for a small cashback incentive.

Many of these accounts also offer an overdraft facility - so if this is an incentive you’re likely to use, check how much interest you’ll be charged, if any.

Earning on your savings

If your current account is in credit when all the bills and outgoings are covered, perhaps look at a higher interest rate to earn on your balance.

Overdraft facilities

If you find yourself short at the end of the month on occasion, you might benefit from an overdraft facility to give you some breathing space. Look at the overdraft limit and compare the charges that may apply. Don’t be tempted into negative credit by your overdraft though.

Looking for a change

If you’re just looking to change bank or account, or you’re chasing rewards and cashback, watch out for monthly charges that may claw back any surplus you accumulate. But some current accounts have no charges and you may get some positive interest when you’re in credit too.

Accounts for those with a poor credit history

You may find that you have fewer choices between current accounts if you’ve got a poor credit history. Overdrafts and in-credit interest aren’t usually part of the package. Bad credit current accounts are generally for people with a poor credit history and there to help if you’re managing debt.

Why compare current accounts?

By not comparing current accounts, you could be missing out on helpful incentives, or better interest rates on your in-credit balance.

Perhaps you’re paying a higher fee on a overdraft facility than you need to? Or paying for account services you don’t require, like breakdown cover or mobile phone insurance.

Always make sure you know the fees and charges relating to an account and what they cover so that you’re not doubling up on insurance.

Switching accounts - what you need to know

Some accounts have certain terms attached to them. For example, you might have to manually switch direct debits to your new account, or deposit a certain amount per month. If you don’t follow the guidance, the bank may not honour the switch.

If you use the seven day current account switch guarantee, you will have to close your old account, this will be done automatically and all payments will be transferred to your new account.

Most accounts come with a debit card and online banking, as well as a mobile app. Some won’t, so if you need them for your day-to-day money management, make sure they’re included.

Choosing the best current account for you

With so much choice on the market, you need to find the account that’s going to make a difference to your finances.

Look out for:

  1. Account fees

    Accounts that give you extra, like packaged and cashback current accounts, could charge you a monthly fee

  2. Overdrafts

    Would it be useful to have an authorised overdraft? If so, consider the options available and whether you’ll have to pay a fee for going overdrawn

  3. Cashback

    Consider whether the monthly fee will wipe out any cashback you would receive

  4. Travel insurance

    Some packaged current accounts offer travel insurance policies as a perk. Make sure it provides the cover you need before travelling though

  5. Breakdown cover

    If your account includes breakdown cover, take a look at the terms and conditions to see if it includes everything you need

  6. Mobile phone insurance

    Avoid doubling up on insurance by checking if you already have mobile phone cover from your bank account before buying a separate policy

  7. Home emergency cover

    You could have access to 24/7 home emergency cover from your bank if an unexpected disaster strikes, like your pipes bursting

Comparing accounts is quick and easy - just give it a try

Compare accounts

Authorised overdraft

This is arranged with your bank and will have a predetermined limit - you’ll have to pass a credit check before being accepted.

You may be charged a small fee for going into your authorised overdraft but be careful not to go over the limit as you’ll face steep charges.

Unauthorised overdraft

This type of overdraft is when you go overdrawn without having an authorised overdraft in place and it’s a bad idea.

You’ll be charged for going into the red and it can get expensive, really quickly. There may be a cap on charges, but you should steer clear of doing this at all costs.

[1] introduces customers to Runpath Regulated Services, which is authorised and regulated by the Financial Conduct Authority.’s relationship with Runpath Regulated Services is limited to that of a business partnership, no common ownership or control rights exist between us. Please note, we cannot be held responsible for the content of external websites and by using the links stated to access these separate websites you will be subject to the terms of use applying to those sites