Current accounts: fee-free banking, switching bonuses and cashback deals
A plain-English, independently produced comparison of current accounts for people on everyday incomes. No paywall, no sales pitch — we're not owned by anyone selling you these products.
Current account switching deals and rates
Fee-free current accounts
| Provider | Monthly fee | FSCS protected | Website |
|---|---|---|---|
| Chase — app-only; 1–2% cashback on everyday spending; no overseas transaction fees; linked easy-access saver at 4.50% AER. No physical branches. | Free | ✓ Yes | chase.co.uk |
| Monzo — app-only; budgeting pots; savings pots up to 5% AER on paid plans. Free standard tier available. | Free (standard tier) | ✓ Yes | monzo.com |
| Starling Bank — app-only; free overseas spending and ATM withdrawals; fee-free arranged overdraft pricing from 15% EAR on eligible accounts. | Free | ✓ Yes | starlingbank.com |
| First Direct 1st Account — phone support 24/7; £250 interest-free overdraft buffer; free overseas spending; linked regular saver at 7.00% AER. Consistently top-rated for customer service. | Free | ✓ Yes | firstdirect.com |
FSCS protection up to £120,000 per authorised institution. App-only accounts do not offer branch access — consider this if you regularly deposit cash or prefer in-person banking. Updated at least weekly.
Switching bonus deals
| Provider | Switching bonus | FSCS protected | Website |
|---|---|---|---|
| HSBC — switch via HSBC app within 60 days; deposit £2,000, spend £500 on debit card. New customers only (no HSBC account since 1 Jan 2025). | £220 | ✓ Yes | hsbc.co.uk |
| First Direct — £175 standard bonus plus an extra £25 for accounts opened between 18 May and 15 July 2026. Full CASS switch, 2 DDs, min £1,000 deposit, 5 debit card payments within 45 days. Includes £250 interest-free overdraft and 7% AER Regular Saver. Consistently top-rated for customer service. | £175 (£25 top-up bonus expired 15 July 2026) | ✓ Yes | firstdirect.com |
| NatWest — pay in £1,250, log into mobile app within 60 days. Cannot have held a NatWest/RBS/Ulster Bank account on 6 May 2026 or received a previous switch bonus from these banks. | £200 | ✓ Yes | natwest.com |
| Barclays — open in app, deposit £2,000, transfer 2 active DDs within 30 days. Switch must complete by 27 August 2026. No Barclays account since 9 June 2026. | £200 | ✓ Yes | barclays.co.uk |
| Santander Edge — deposit £1,500, 2 household DDs within 60 days. £3 monthly fee. Access to 6% AER Edge Saver and 8% AER Regular Saver. £45 Amazon voucher also included. | £180 + £45 voucher | ✓ Yes | santander.co.uk |
| Nationwide FlexDirect — full CASS switch, 2 DDs, 1 debit card payment, £1,000 deposit within 31 days. 1% cashback on debit card spending for first 12 months (max £5/month). Open to new and existing customers who have not received a Nationwide switch offer since 2021. | £175 | ✓ Yes | nationwide.co.uk |
| Bank of Scotland — fewer requirements than most; no minimum pay-in or debit card spending required. Full CASS switch. New customers only. | £175 | ✓ Yes | bankofscotland.co.uk |
Sorted by bonus value. Switching bonuses are time-limited — verify terms directly with the provider before applying. All switches completed via the free Current Account Switch Service (CASS) in 7 working days. FSCS protection up to £120,000 per institution. Updated at least weekly.
Cashback current accounts
| Provider | Cashback rate | FSCS protected | Website |
|---|---|---|---|
| Chase — 2% cashback on groceries, restaurants, cafes, takeaways, fuel (including EV charging) and daily transport (up to £20/month; £240/year); 1% on all other everyday spending for the first 12 months. No monthly fee. App-only, no overdraft. | 1–2% | ✓ Yes | chase.co.uk |
| Zopa Biscuit — 2% cashback on direct debit bills (reduced from 4% on 15 June 2026; capped at £2,000 of DDs per year). Also pays 2.00% AER on credit balance and a linked 7.10% AER Regular Saver (fixed 6 months). No monthly fee. | 2% on bills | ✓ Yes | zopa.com |
| Santander Edge — 1% cashback on selected household bills (capped at £15/month); requires min £500/month deposit and 2 active direct debits. £3 monthly fee. Linked Edge Saver pays 6% AER on balances up to £4,000. | 1% on bills (max £10/month) | ✓ Yes | santander.co.uk |
| NatWest Reward — up to £5/month cashback (£4 for 2+ direct debits ≥£2 each, £1 for app login); 1% at select NatWest retail partners. £2 monthly fee; min £1,250/month deposit. | Up to £5/month | ✓ Yes | natwest.com |
Cashback rates may be introductory or subject to monthly caps — check full terms before opening. Accounts with monthly fees only offer net value if cashback earned exceeds the fee. Updated at least weekly.
Related guides
For the latest rate changes and money news, see our money news page. This is factual information, not financial advice or a personal recommendation — please check current rates and terms with the provider before applying.
Frequently asked questions
CASS moves all direct debits, standing orders and incoming payments from your old account to your new one in 7 working days. It is backed by a formal guarantee: if anything goes wrong — a payment is missed, or you are charged a fee as a result of the switch — both banks are jointly responsible for putting it right and refunding any charges. Over 99% of switches complete without any issues. You initiate the switch through your new bank; from that point the process is automatic and your old account closes once complete. Debit card details saved with retailers (Amazon, PayPal, subscriptions) are not moved automatically and must be updated manually — this is the main housekeeping task post-switch.
Opening a new current account involves a hard credit search, which is visible to other lenders and can reduce your credit score temporarily — typically by a small amount that recovers within a few months. The more significant credit impact comes from applying for an overdraft, which is treated as a credit application in its own right. If you apply for the account only, without an overdraft, the impact is generally minor. Avoid applying to multiple banks in quick succession, as several hard searches within a short period is a signal lenders pay attention to.
Yes — there is no legal limit on the number of current accounts you can hold. Running two accounts is common: a main account for salary and direct debits, and a second for discretionary spending, which helps separate fixed and variable costs. Some people open accounts sequentially at different banks to collect switching bonuses over time; there is no rule against this, provided eligibility criteria are met at each bank. Be aware that each new account application involves a credit search, so spacing applications out is sensible if your credit score is a concern.
Yes, provided your bank is FCA-authorised and a member of the FSCS. The FSCS protects up to £120,000 per person, per authorised institution (raised from £120,000 in December 2025). For a current account used for day-to-day spending, the balance rarely approaches this limit — but it's worth knowing the protection applies.