This comparison simply includes all savings accounts.
Current Account Switch Guarantee
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
The Current Account Switch Service
The Current Account Switch Service was launched in 2013 to make it faster and easier to change your current account.
It has so far been used to switch over 3 million accounts, with more than 40 banks and building societies being part of the service. This means 99% of UK current accounts are included.
To use the Current Account Switch Service, you simply have to choose a new current account, then ask your new bank or building society to move your old account over using the Current Account Switch Service.
Your new current account provider will then do everything for you, moving your balance, your Direct Debits and standing orders over. This means you don’t have to spend time cancelling and restarting all your payments , which means you don’t risk missing a payment and getting into arrears.
What is the Current Account Switch Guarantee?
The Current Account Switch Service offers a Current Account Switch Guarantee, giving customers the following:
- Free current account switching
- Switch on a date of your choosing
- They will take care of all outgoing and incoming payments (e.g. your salary)
- They move any money in your old account to your new one
- They will let you know before your switch date if there are any issues
- If anything goes wrong, they will refund any interest (paid or lost) and any charges you incur
Compare current accounts to switch to
Thinking about changing your current account? Then you need to make sure you have carefully compared current accounts from all across the market to make sure you are getting the best possible deal.
Below are three of the most popular current accounts presently available, offering attractive rates of interest and other benefits.
Santander 123 current account
This accounts pays interest at 1.50% AER/1.49% gross (variable) up to a £20,000 balance. As well as this, you can also benefit from 1-3% cashback on various household bills, including payments on a Santander mortgage or insurance policy.
You have to pay a £5 per month account fee for this account and to qualify for cashback you are required to deposit at least £500 a month into the account and have two active Direct Debits.
TSB Classic Plus account
Earn 3% AER paid monthly on a balance of up to £1,500 with this account and you can also get £5 per month cashback when you have at least two Direct Debits from the account, plus another £5 each month that you use your debit card at least 20 times.
There is no monthly account fee, but to earn interest you must pay in a minimum of £500 each month.
Nationwide FlexDirect current account
Nationwide offer a highly competitive 5% AER (4.89% gross p.a.) interest on balances up to £2,500 for the first 12 months with this account. After this the interest drops to 1% gross p.a./AER (variable).
You won’t pay a monthly account fee, but this account doesn’t offer any cashback and you must pay in at least £1,000 a month to earn interest.
