This comparison simply includes all savings accounts.
Best Current Account Switch
Why we like it: Interest paid annually. Unlimited deposits and withdrawals. Open and manage online. FSCS Protected. Must be UK resident and be aged 18 or older
Why we like it: Instant access to your savings. Unlimited deposits and withdrawals. Interest paid monthly, either to a linked current account, or adding it to your Online Flexi Saver account. Easy application process, you just need a UK mobile phone and UK driving licence or passport. Manage account online. Maximum balance £250,000. Must be aged 18 or older and have a UK address. Must have a linked UK current account. Your eligible deposits with Investec Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS)
Why we like it: Which? Recommended Savings Provider. No notice period. Deposit from £100. Interest paid monthly or annually. Apply in minutes. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services. Compensation Scheme (FSCS)
Why we like it: Unlimited payments and withdrawals. Interest paid annually. Open in a single or a joint name. Maximum deposit £250,000. FSCS Protected. Winner of Platinum Feefo Trusted Service Award in 2024. Must be UK resident and be aged 18 or older
Why we like it: Interest calculated monthly. Unlimited deposits and withdrawals. Open and manage online. FSCS Protected. Must retain a minimum balance of £20,000 in the account. Must be UK resident and be aged 18 or older
Why we like it: All funds deposited into the RCI Bank E-Volve Savings 14 Day Notice Account will be used to fund pure electric vehicles and charging facilities. Interest paid monthly or annually. Manage account online. UK-based support, seven days a week. Which? Recommended Savings Provider. Unlimited withdrawals subject to 14 days notice. Must be UK resident. Must be aged 18 or older. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS)
Why we like it: The interest rate tracks the Bank of England (BoE) Base Rate. Interest is calculated on the minimum daily balance and applied to the account on the first day of every subsequent month. Open and manage account online. Your eligible deposits are protected up to £85,000 by the Financial Services Compensation Scheme. The maximum deposit you may pay into any one OakNorth Account is £500,000. The maximum amount (excluding the interest) that you will be allowed to hold on deposit with OakNorth Bank across multiple accounts is also £500,000. Unlimited withdrawals, subject to 95 days notice. Available to individuals, aged 18 or over, who are UK residents
Why we like it: Unlimited deposits and withdrawals. Interest paid monthly: can be added to your Notice Saver or paid to your linked account. Easy application process, you just need a UK mobile phone and UK driving licence or passport. Manage account online. Maximum balance £250,000. Withdrawals subject to 90 days notice. Must be aged 18 or older and have a UK address. Must have a linked UK current account
Why we like it: 3 penalty-free withdrawals in a 12 month period. 3.82% AER (variable tracker) + 0.68% AER 12 month boost. 3.75% gross variable tracker. Interest paid monthly. Deposit and withdraw almost instantly. No fees or charges for holding account. FSCS eligible on your deposits. After 3 withdrawals within a 12 month period the rate will revert to either 3.40% AER (variable tracker with boost applied) or 2.72% AER (variable tracker) for the remainder of the 12 month period since opening the account. Must be UK resident. Must be aged 18 or older
Why we like it: 9 month term, minimum deposit £1,000, no withdrawals permitted. FSCS Protected
Why we like it: Interest paid on maturity. Automatic repayment to your linked account. Maximum deposit £250,000. FSCS Protected. Must have a UK residential address and be aged 18 or older. No withdrawals permitted
Why we like it: 1 year term, minimum deposit £1,000, no withdrawals permitted. FSCS Protected
Best Current Account Switch
Switching your current account has never been easier and many banks are providing attractive incentives to lure in new customers.
Switching your current account can be carried out online in a simple and streamlined way which requires minimal effort on the customer’s part. The switching service will move all of your money, direct debts and standing orders over to your new account, usually within seven days.
There are many accounts on offer and finding the best one for you can be challenging, but higher rates of interest and cashback rewards are just two common incentives which can make it worth your time.
Which Current Account Should I Switch to?
Current Accounts Best for Interest
One of the best accounts for interest on lower amounts is the TSB Classic Plus Account. This account has one of the lowest minimum monthly pay-ins at £500 per month, so is well-suited to anyone who finds it difficult to meet the minimum payments of some other accounts.
They also offer one of the highest rates of interest on balances of up to £2,000. Interest is paid monthly and to earn it you simply pay in a minimum of £500 a month and register for Internet Banking, paperless statements and paperless correspondence.
Bonus:
- One of the biggest incentives on offer is the opportunity to earn 5% cashback a month on the first £100 of contactless payments. This includes Apple and Android Pay, up until 30 September 2017
Other accounts that offer great interest on lower amounts:
- Nationwide Flexplus account. This account currently offers the highest rate on the market, however, this is for one year at a fixed rate of 5% before falling to 1% in subsequent years
Currently, the account paying the highest amount of interest for larger deposits is the Santander 123. This is a great account for those with savings above £10,000. Although Santander are currently planning to cut the Santander 123 headline rate, it will still be a great option for bigger savers.
Bonus:
- You are also able to have two accounts in your name, but one must be joint – meaning couples can save £60,000 between them
Current Accounts Best for Switch Rewards
There are some great switch rewards on offer at the moment.
One example, the Halifax Current Account, has some great reward features including a £100 switch reward, paid in to your account before your switch is complete.
Bonus:
- If you’re able to pay £750 or more in to your account, pay out at least 2 different direct debits and stay in credit each month, you could earn £5 each month with their Reward Current Account
Combine this option with the Switch Reward and you could earn £160 in a year. This is one of the few accounts that pay both a switching bonus and an ongoing reward.
Some other accounts which also offer excellent Switch rewards include:
- First Direct, Co-operative and HSBC. These accounts are all offering £100 or more for switching
Current Accounts Best for Cashback
There are some great cashback accounts to switch to at the moment. The NatWest Reward Account is one of the best options as there are no monthly payments on this account making it very suitable for those who are unable to meet the high minimum payment requests of some other accounts.
There is, however, a charge per month of three pound. The rewards you can earn on this account are similar to the Santander 123 account in that you can earn cashback on your household bills.
As this account is a cheaper option than the Santander account, it’s a great choice for those who pay a lot of household bills out of one account and would like to see some return on that.
Other accounts offering cashback deals:
- TSB are currently offering 5% of cashback on the first £100 of contactless purchases
This is a brief overview of some of the excellent current accounts on offer at the moment, but please use our website to find out further details on each of these accounts and more.
