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Current Accounts

Get a bonus when you switch bank account

  • Get up to £175 when you switch

  • Your money is safe with our FCA-regulated providers

  • See account details and important information at a glance

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Our best current account switch offers

Below are our best bank account switching deals along with some important information about the accounts.

Accurate as of Saturday, 20 July 2024

£200 exclusive switch reward. £175 cashback when you switch plus £25 Amazon Voucher totalling £200. Access to 7% Regular Saver & FEE FREE debit card spending abroad. T&Cs apply. Offer ends 22/7/24 subject to availability, may be withdrawn earlier
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£200 to switch + access to 7% Regular Saver + no debit card fees when spending abroad

1st Account

  • Switch Incentive

    £200 to switch

  • Arranged overdraft

    Yes (subject to eligibility)

  • Account fees

    None

  • Rewards and other perks

    Access to 7% AER/gross Regular Saver


Important information & opening criteria
Account details:
  • Switch Incentive: £200 when you complete a full switch for participating banks and building societies
  • Interest rate: 0% AER interest on in-credit balances
  • Overdraft: First £250 is interest free (subject to status)
  • Other Perks: Access to 7% AER/gross Regular Saver Account. No first direct debit card fees when spending abroad
Important information:
Complete a full switch from participating banks and building societies including a minimum of 2 standing orders and/or direct debits, pay in £1,000, log onto digital banking and make 5+ debit card transactions. All criteria to be completed within 30 days of the account being opened. Can not have held a first direct product previously or have opened a HSBC account after 1st Jan 2018
Get £175 when you switch to a Barclays Premier Current Account via the app by 30/08/2024. T&Cs apply*
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Get £175 when you switch to Barclays*

Premier Current Account

  • Switch Incentive

    Get £175 when you switch

  • Arranged overdraft

    Yes (subject to eligibility)

  • Account fees

    None

  • Rewards and other perks

    Access Barclays Avios Rewards** to collect Avios to put towards your next trip with British Airways.**T&Cs & £12 monthly fee apply


Important information & opening criteria
Account details:
  • Switch Incentive: Get £175 when you switch to a Barclays Premier Current Account via the app by 30/08/2024. T&Cs apply*
  • Interest rate: 0% AER interest on in-credit balances
  • Overdraft: Up to £500 interest free. Subject to status
  • Rewards: Access Barclays Avios Rewards** to collect Avios to put towards your next trip with British Airways.**T&Cs & £12 monthly fee apply
  • Other Perks: Access exclusive rates on mortgages and savings accounts and get support from Barclays’ dedicated Premier Financial Guides team
Important information:
To be eligible for a Barclays Premier Current Account, you need a gross annual income of at least £75,000 paid into the account or have a total balance of at least £100,000 in savings with Barclays, eligible investments – or a mix of both. *To be eligible you must open a sole Barclays Premier Account and initiate a full switch via the Barclays app by 30/08/24. T&Cs and eligibility apply. New customers, 18+ & UK residents only. To join Premier, you need a £75,000 income or £100,000 in savings with Barclays.
Get £175 when you switch to a Barclays Bank Account via the app, and join Blue Rewards by 30/08/2024
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Get £175 when you switch in the app and join Barclays Blue Rewards*

Barclays Bank Account

  • Switch Incentive

    £175 when you switch

  • Arranged overdraft

    Yes (subject to eligibility)

  • Account fees

    None

  • Rewards and other perks

    Get an Apple TV+ subscription, help your savings grow and earn cashback with Barclays Blue Rewards**


Important information & opening criteria
Account details:
  • Switch Incentive: Get £175 when you switch to a Barclays Bank Account via the app, and join Blue Rewards by 30/08/2024*
  • Interest rate: 0% AER interest on in-credit balances
  • Overdraft: Arranged overdraft available. Subject to status
  • Rewards: Get an Apple TV+ subscription, help your savings grow and earn cashback with Barclays Blue Rewards**
  • Other Perks: Stay in control of your finances with the Barclays app*** – get spending insights, flexible security controls and more
Important information:
Overdrafts, including free amounts are subject to application, financial circumstances and borrowing history. *To be eligible you must (1) open a sole current account, (2) initiate a full switch, and (3) join Barclays Blue Rewards (Eligibility and a £5 monthly fee apply) all via the app by 30/08/24. T&Cs and eligibility apply. New customers, 18+ & UK only. **Eligibility, conditions & £5 monthly fee applies for Barclays Blue Rewards. ***T&Cs apply. 18+.

This is a preview of our top current accounts ordered by switch incentive. For a full breakdown of all our current accounts, including alternative current account types, progress to the results table.

What can I use a current account for?

  • Everyday spending: Think of a current account as the money you currently have. So, it’s ideal to use this bank account for your day-to-day spending, and you can use your debit card to do so

  • Salary: Your wages will always be paid into it

  • Pension: When you’ve retired, your pension will be deposited into your account 

  • Cash withdrawals: It’s best to use your connected debit card for ATM withdrawals, as you will not be charged for doing so when you’re in the UK. Using a credit card for cash withdrawals will come with fees as this is money you’re borrowing from the lender 

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What are the different types of bank accounts? 

  • Business accounts

    If you’re looking to receive payments and pay out money in your company name, a business current account may suit you best. 

  • Children’s accounts

    A children’s bank account can help your child understand the value of money and become more financially independent.

  • Student accounts

    Off to college or university soon? Student bank accounts can offer good overdraft facilities and include perks like free railcards.

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    Packaged accounts

    A packaged bank account comes with extras such as insurance, rewards and fee-free card payments abroad. You’ll usually have to pay a monthly fee 

  • Cashback current accounts

    Cashback and reward current accounts can offer a range of benefits from cashback and discounts when you spend using the account, to loyalty points and even boosted interest on your in-credit balance.

What is bank switching?  

Bank switching is when you change your current account provider to a new one, where generally you will need to be a new customer. Switching your bank account is straightforward as most banks and building societies are part of the Current Account Switch Service. When you switch, your incoming payments will move to your new bank account. You could even benefit from extra money in your new account, if the bank you’re moving to offers an account switching bonus.

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How do I switch my current account? 

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    Start the switch

    Open your new bank account and make sure it’s signed up to the switch guarantee scheme. You’ll able to choose the date you want the switch to take place and then the current account switching service will arrange this.

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    Bank sets up your account

    Incoming payments like your salary and your current direct debits and standing orders will move across 

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    Your payments move

    Incoming payments like your salary and your current direct debits and standing orders will move across. You’ll also be covered financially and reimbursed if anything goes wrong   

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    Receive your bonus

    If your new account comes with a switch incentive, you’ll receive the funds once the switch is complete 

What's required when I switch my bank?

If you want to switch, it’s essential that you meet the eligibility requirements. If you’re looking to benefit from a switch incentive, it’s also important that you meet the eligibility criteria. Eligibility requirements across banks will vary but here’s what’s usually needed: 

  • Deposit a certain amount: You might have to move a certain amount of money into the new account 

  • Direct debits: Your new provider may want you to set up a minimum number of direct debits or standing orders in order for you to make the switch  

  • Be a new customer: You’ll usually have to be a first-time customer to qualify for the switch bonus. Some banks will require you to have not had an account with them since a certain date or never at all 

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What are the advantages of switching bank accounts?

Switching your bank account, comes with a host of benefits, such as: 

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    Cash incentive

    A common perk for switching is a cash incentive, which is basically free money. However there tend to be some conditions, such as a minimum deposit to put into the account

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    Overdraft

    Some banks offer you better deals on your overdraft when you switch with them, such as an interest-free overdraft for a period time

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    Cashback

    You can even benefit from cashback when you switch. Some banks may let you get cashback on purchases from selected stores

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    Better savings rates

    Another perk when you switch can be access to better saving rates. The provider may offer you savings accounts with generous rates of interest for switching

How to choose the best current account for you

When it comes to choosing the best current account for you this all depends on what you need it to do. Each one will have features designed for different types of customers.

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    Consider cheapest overdraft

    For those who regularly need to dip into an overdraft, you may want to prioritise an account that comes with a cheaper overdraft – as some banks have very high overdraft rates. 

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    Match an account to your lifestyle

    You may want to consider an online or app-based bank where you can see your balance and manage your transactions at any time 24/7. Banking and access to cash is free and convenient. 

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    Look for high interest deals

    If your account is rarely overdrawn, then a high interest account could benefit you. These accounts pay competitive rates of interest, however there is usually a cap on the balance that can earn interest each month. 

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    Improve your credit score

    If you have a low credit score then a basic bank account or account for bad credit can help you rebuild your score. You won’t have access to an overdraft, but setting up direct debits to pay bills on time through your account can improve your credit score.

Will multiple bank switches affect my credit rating?

Multiple switches can impact your credit score, especially if you use the bank account switching service multiple times in a short period of time. However, the effect on your credit rating shouldn’t last long or be too severe. The reason your credit score might dip is because some banks will carry out a hard credit check when you register for a new account with them. If you’re planning to apply for a loan, for example, a mortgage then it may be best to avoid switching until after, so your score hasn’t been brought down by the switch. You can keep an eye on your credit score, by using our free credit monitor service.

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Kate Hughes

Our expert says

We tend to overlook our current accounts but they are valuable weapons in our financial arsenal. Some perks can genuinely save us money when they fit our needs, spending and saving habits. But even with the switch guarantee, we don't vote with our feet often enough when the account, service or provider isn't what we need or really want. It's high time we started flexing our muscles and making those providers work harder for us and our money.

- Kate Hughes, Money & Savings Expert

How to compare current accounts with MoneySuperMarket

We can make it easy to find an account that suits you by comparing a range of options all in one place.

  • Icon-Search-110x110

    Browse our providers

    Click through to search the market to find the best current account for your needs, including any cash incentives to switch

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    Filter and sort

    Use our handy filters to narrow down your options based on the type of current account you need, such as high interest or student accounts

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    Click through to provider

    When you find the deal you want, click straight through to the provider to complete your application. Sit back while your new bank takes care of the switch

To open a bank account, you’ll usually need the following information to hand:

  • Personal information: Usually your full name, nationality, contact details, date of birth and national insurance number

  • Proof of address: A recent utility bill, mortgage statement or tenancy agreement, bank statement or council tax bill 

  • Proof of identity: Such as your passport or driving licence. If you’re opening a children’s account or student account, your bank may accept a birth certificate as proof of identity 

Most providers will only need you to be over 18 to open a bank account, but some banks might have additional requirements for certain types of accounts. This could mean a minimum credit score, especially if the account comes with perks or benefits.

If you want to close your account, you’ll normally be able to do this by contacting your bank either by phone or post, or by meeting face to face and letting them know.

You don’t need to tell your bank when you switch. When you’ve completed the Current Account Switch Service Agreement form, the bank you are switching to will take care of the rest.

Any payments in and out of your old account are automatically switched thanks to the Current Account Switch Service, and your new bank will contact the person sending the payment or the person due to receive the payment to let them know your new account details. They’ll also contact you if there are any problems.

If you created any regular payments using your old account’s debit card then you might need to manually change them.

Many banks will let you add another name to your account – you’ll normally both have to go into a branch and show ID to do this, as well as fill out some forms.

However, some accounts might only be limited to one account holder, and others could say the additional person needs to be a certain age. They may even need to make a payment into the account to be added – read more with our guide to joint bank accounts.

If your bank goes out of business your money is safe up to a threshold of £85,000 due to the Financial Services Compensation Scheme, which gives you government protection when you bank. It includes digital and challenger banks, building societies and credit unions.

AER stands for Annual Equivalent Rate, and it shows you how much interest you’re earning on the balance of your savings account. APR stands for Annual Percentage Rate, which refers to the interest rate you’ll pay on any loan or credit card repayments.

There are no rules on how many you can have. You can have multiple bank accounts – provided your bank or building society lets you. But some have eligibility criteria, such as a minimum amount you must pay into the account each month, for example.

It can be beneficial to have an additional current account with a partner or housemate if, for example, you need to share payment of rent, mortgage and other bills. You could also open a second current account to earn higher interest on some savings, and still want to keep another account for day-to-day spending.

Be aware that if you use an overdraft on more than one current account this could negatively impact your credit score and affect your ability to get loans and credit. Your credit score could also dip if you apply for a lot of new current accounts in a short space of time.

The Financial Services Compensation Scheme will protect up to £85,000. As long as your current account is held within a UK-authorised bank, building society or credit union then your money will be covered by the FSCS. If you hold a joint bank account, then up to £170,000 will be protected.

You can get a bank account even if you’ve had debt problems in the past or if you have a low credit score.  

 Basic bank accounts offer most of the functionality of a standard account, but typically you won’t have access to an overdraft.  

 



A current account is for daily use, such as paying bills and shopping, and doesn’t earn interest. A savings account helps you save money and earns interest, but often has limits on how often you can use it.

Online and mobile banking offers easy access to your money anytime, anywhere. You can pay bills, transfer funds, and check your balance quickly. Mobile banking apps provide convenience, letting you manage your account on the go, receive instant notifications, and ensure secure transactions.

It’s a good idea to check your account statements regularly, because this could stop you going into your overdraft without knowing. It can also be a good way to double check whether there are any transactions you don’t recognise.

Look for a provider with good customer service, because you never know when you’ll need to call them up or go into a branch to fix an issue.

Remember to be careful with your PIN and account details; you should keep this information safe and protected. Remember, your bank will never ask you to reveal details like your PIN, either on the phone, in person or through an email.

Your bank will almost certainly have an app that lets you manage your account online, and some may even be based on their app. This is excellent for quick and easy money management.

Each bank has different ways of transferring money. Some require you to use a card reader when transferring any sum of money, while others only use it for transactions over a set amount.

Other banks do not use card readers at all, so if money transfers are something you might be doing a lot of, it’s worth checking the policy details to see how easy it is to make payments on the go.

If your current account comes with benefits such as air miles, you might want to check whether you really need them. For example, if you’re not a frequent flyer, is an air miles bonus worth the extra cost?

Looking for other forms of banking and lending?