Compare current accounts
Compare current accounts and find the right deal for you.
- Compare current accounts from FCA-regulated providers in minutes.
- See switching incentives, overdrafts, and fees side by side.
- Find an account that suits you.
Current accounts at a glance
1 How do I choose the right current account?
The right current account depends on what you need from your everyday banking.
Key things to consider include any monthly fees, whether you need an overdraft, and whether there’s a perk like cash for switching.
If you're drawn to a packaged account with perks like travel insurance or breakdown cover, it's worth checking whether you'd actually use the benefits and what they'd cost you individually.
2 How do I switch current accounts?
Switching is straightforward under the Current Account Switch Service - your new bank handles everything and guarantees to complete the switch within seven working days.
All your direct debits, standing orders, and your balance move across automatically.
You don't need to contact anyone individually, and the guarantee covers any charges if something goes wrong.
3 What types of current account are there?
From standard everyday accounts to high-interest, cashback, and packaged accounts, there are plenty of options to choose from.
Digital challenger banks like Monzo and Starling are also worth considering if you want a more app-focused banking experience.
Student and graduate accounts are available if you're at university or recently graduated, and joint accounts can be a useful way to manage shared finances with a partner.
Why compare current accounts with Go.Compare?
- Compare fees and features side by side.
- See monthly fees, overdraft availability, and cashback offers clearly laid out so you can weigh up which account offers the best value for your needs.
- Switch in seven working days. Found the right account? The Current Account Switch Service handles everything - moving your direct debits, standing orders, and balance across automatically and closing your old account for you.
What is a current account?
A current account is the everyday bank account you use for your day-to-day finances.
Your salary, pension, or benefits are usually paid in, and you can use it to set up direct debits and standing orders, pay bills, and make purchases instantly with a debit card.
Most current accounts also give you access to online and mobile banking, so you can manage your money whenever you need to.
Compare current accounts and find the right one for you.
Types of current account
There are several different types of current account available in the UK. The right one for you depends on your financial situation and what you need from your account.
Standard current accounts
The most common type of account, a standard current account comes with a debit card, online and mobile banking, and the ability to set up direct debits and standing orders.
Most standard bank accounts are free to use as long as you stay within your agreed overdraft limit, although they tend to pay little or no interest on your balance.
Digital and challenger bank accounts
Accounts from banks like Monzo, Starling, and Chase are app-based and designed around making it easy to manage your money on the go - although you won’t have a local branch to access.
They often come with features like real-time spending notifications, built-in budgeting tools, and fee-free spending abroad.
Packaged bank accounts
Sometimes called ‘premium accounts’, packaged bank accounts charge a monthly fee in exchange for a bundle of perks - like travel insurance, mobile phone insurance, or breakdown cover.
They might also come with an interest-free overdraft.
High-interest current accounts
If you regularly keep a balance in your account, a high-interest current account could help your money work harder.
Not all providers offer these, and those that do often have conditions attached - like a minimum monthly deposit or a cap on how much of your balance qualifies for the higher rate.
Cashback current accounts
With a cashback account, you earn money back when you spend - either on certain types of purchases, at specific retailers, or when you pay household bills by direct debit.
You might have to retain a certain balance in your account, or have your salary credited each month.
Joint current accounts
A joint current account works in the same way as a standard account but is shared between two people - usually a couple or housemates managing shared expenses.
Both account holders can make payments, set up direct debits, and access the account independently.
Student current accounts
Designed for full-time students, these accounts typically come with an interest-free overdraft - often tiered so your limit increases as you progress through your course.
Graduate current accounts
Graduate accounts are designed to help you transition from student life to work, and often include a continuation of your interest-free overdraft for a set period.
Basic bank accounts
Basic bank accounts are a stripped-back option designed for you if you might struggle to get a standard account, often due to a lower credit score.
You might get a debit card and access to online banking, but there's no overdraft facility and there might be limits on daily cash withdrawals.
How to choose the right current account
With so many options available, it's worth taking a moment to think about what you actually need from your bank account before you compare. Here are the key things to consider.
| Feature | Description | Considerations |
|---|---|---|
| Account fees | Some accounts, particularly packaged and cashback accounts, charge a monthly fee. | Make sure you factor in any fees when comparing accounts, and weigh them against the benefits you'll actually use. |
| Overdrafts | If you sometimes dip into the red, check whether the account offers an arranged overdraft and what interest rate applies. | Look for accounts with a fee-free buffer; some providers let you go a small amount overdrawn without charging interest. |
| Switching incentives | Many banks offer cash payments or rewards to encourage you to switch. | Check the small print; some switching bonuses require you to pay in a minimum amount each month or set up a certain number of direct debits to qualify. |
| Minimum deposit requirements | Some accounts, particularly high-interest and cashback accounts, require you to pay in a minimum amount each month to access the best rates or rewards. | Check the minimum pay-in requirement before you apply. |
| Cashback and rewards | Some accounts pay you cashback on your spending or when you pay certain bills by direct debit. | Think about your spending habits before choosing a cashback account. |
| Insurance and other benefits | Packaged accounts often include perks like travel insurance, mobile phone insurance, or breakdown cover. | Don’t pay for cover you already have. |
| Digital banking and apps | Most banks now offer mobile apps, although the quality varies significantly. | If managing your money on your phone is important to you, it's worth reading reviews of the bank's app before you apply. |
| Branch access | If you prefer to manage some of your banking in person, check whether your provider has a local branch. | Challenger banks like Monzo and Starling are app-only. |
| Credit score requirements | Some accounts, particularly those with overdrafts or premium features, require a good credit score to be eligible. | Check your credit score before you apply. |
| FSCS protection | All UK-regulated banks and building societies are covered by the Financial Services Compensation Scheme (FSCS), which protects deposits up to £120,000 per person per institution. | If you hold money across multiple accounts, check they're with different banking institutions. |
Our expert says…
According to the Financial Conduct Authority, current accounts are the most-often complained about financial products in the UK.
“So, if you’re not happy with your bank, it could pay to switch. Thanks to the Current Account Switch Service it’s never been easier to change your bank, and you could benefit from a cash payment for switching alongside perks like cashback or exclusive discounts.
“There’s lots of competition in the UK current account market, including from challenger banks offering easy-to-use and innovative apps, so compare deals to find out if there are better banking options for you.”
How do I switch current accounts?
If you've found a current account that better suits your needs, switching is straightforward.
Under the Current Account Switch Service your new provider handles the entire process and guarantees to complete the switch within seven working days. Here's how it works:
Choose a new account: Compare current accounts and find the right deal for you. Check the eligibility criteria before you apply.
Apply and agree your overdraft: Apply for your new account online. If you want an arranged overdraft, you'll need to agree this with your new bank at this stage.
Pick a switch date: Choose the date you want your switch to complete.
Sit back and let your new bank do the rest: Your new bank will transfer your balance, move your direct debits and standing orders, and close your old account automatically.
How long does it take to switch accounts?
The Current Account Switch Service guarantees your account will be switched over within seven working days.
How often can you switch current accounts?
You can switch current accounts as often as you like. However, you might not be eligible for switching perks if you're switching between providers too frequently.
What are the benefits of switching bank accounts?
Switching current accounts could bring a range of benefits:
Rewards
Switching could earn you free rewards such as cash incentives.
Better interest rates
Getting a better interest rate on your credit balance can help your money work harder for you.
A cheaper overdraft
If you use an overdraft facility, switching bank accounts might let you take advantage of an interest-free facility, or lower interest rates on your overdraft.
More ways to manage your money
Switching banks could mean you have a local branch that’s closer to you and an account that gives you access to better services.
How many current accounts can I have?
As many as you like! You can have several current accounts to help manage your money.
Can I get a current account with bad credit?
Yes, you can open a current account if you have a low credit rating, although the type of account and features may be limited.
How to compare current accounts with Go.Compare
- Click ‘compare current accounts’ to see deals.
- Choose your preferred account.
- Apply securely online.
Frequently asked questions
Can you have two current accounts with the same bank?
Yes, it is usually possible to have two current accounts with the same bank.
Does having multiple current accounts affect my credit score?
It might. If you open several accounts over a short space of time, the credit checks could impact your credit score.
Does switching current accounts affect your credit score?
No, switching banks shouldn't have any impact on your credit score, provided you manage your accounts responsibly.