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Basic Current Accounts

Santander

1|2|3 Current Account
Switch Guarantee
Santander logo

£4.00

Monthly fee

£130

Switch incentive

Representative Example:

If you use an arranged overdraft of £1,200 you will be charged 39.94% APR (variable)/ EAR (variable). Actual credit limit may differ. Arranged Overdraft Usage 39.94% APR (variable)/ EAR (variable). Monthly interest of 0.30% AER/gross (variable) on balances up to £20,000. £130 cashback to switch and earn cashback every month on selected household bills + interest on your balance.

Starling Bank

Current Account
Switch Guarantee
Starling Bank logo

No fee

Monthly fee

Switch guarantee

Switch incentive

Representative Example:

If you use an arranged overdraft of £1,200 a 15% EAR will apply. Interest on your balances: 0.05% AER on balances up to £85,000. 2019 Best British Bank Winner - Best Current Account Provider.

Monese

Simple Current Account
Monese logo

No fee

Monthly fee

None

Switch incentive

100% mobile Current Account via the Monese app. Get £5 after the first successful card transaction (excluding ATM) and £15 after spending £500. Enter invite code MONEYGURU21 when you sign up.

Santander

Everyday Current Account
Switch Guarantee
Santander logo

No fee

Monthly fee

£130

Switch incentive

Representative Example:

If you use an arranged overdraft of £1,200 you will be charged 39.94% APR (variable)/ EAR (variable). Actual credit limit may differ. Arranged Overdraft Usage 39.94% APR (variable)/ EAR (variable). £130 cashback to switch to a simple and straightforward current account, with no monthly fee.

HSBC

Advance Bank Account
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HSBC logo

No fee

Monthly fee

£110 + £30 Uber Eats

Switch incentive

Representative Example:

Assumed arranged overdraft £1,200: 0% EAR variable on the first £25, 39.9% EAR variable on anything above that, giving a representative rate of 38.9% APR variable. Get £110 + £30 Uber Eats voucher or The Dining Out Gift Card when you switch to an HSBC Advance Bank Account. Offer end 31st October 2021.

Revolut

Standard Current Account
Revolut logo

No fee

Monthly fee

None

Switch incentive

Revolut is a prepaid card and app used by 4.5m+ customers across Europe and Australia, to make massive savings on fees when spending and sending money abroad. See More details.

U Account

U Money Account
U Account logo

No fee

Monthly fee

None

Switch incentive

It's FREE to open an account, get your card, and transfer your money in. It also won't cost you anything to use your card online or in-store here in the UK. Everything else is up to you. You choose how to pay from one of our flexible payment options, which you can change each month, if you want to.

Barclays

Bank Account
Switch Guarantee
Barclays logo

No fee

Monthly fee

Switch guarantee

Switch incentive

Representative Example:

If you use an arranged overdraft of £1,200, the annual rate of interest that we will charge you is 35.0% (variable), 35.0% APR Representative (variable). Overdrafts are subject to application, financial circumstances and borrowing history.

TSB

Spend & Save Current Account
Switch Guarantee
TSB logo

No fee

Monthly fee

Switch guarantee

Switch incentive

Representative Example:

Assumed arranged overdraft of £1,200: 39.9% APR representative variable. Subject to application, approval and repayable on demand. 

first direct

1st Account
Switch Guarantee
first direct logo

No fee

Monthly fee

£100

Switch incentive

Representative Example:

Assumed arranged overdraft £1,200: £250 interest and fee free overdraft, subject to status. If you then use an arranged overdraft you will be charged 39.9% EAR variable.

Santander

1|2|3 Lite Current Account
Switch Guarantee
Santander logo

£2.00

Monthly fee

£130

Switch incentive

Representative Example:

If you use an arranged overdraft of £1,200 you will be charged 39.94% APR (variable)/ EAR (variable). Actual credit limit may differ. Arranged Overdraft Usage 39.94% APR (variable)/ EAR (variable). £130 cashback to switch and earn cashback every month on selected household bills.

TSB

Spend & Save Plus Current Account
Switch Guarantee
TSB logo

£3.00

Monthly fee

Switch guarantee

Switch incentive

Representative Example:

Assumed arranged overdraft of £1200: 40.1% APR representative variable. Subject to application, approval & repayable on demand. UK residents only, 18+.

Suits Me.

Premium Current Account
Suits Me. logo

£4.97

Monthly fee

None

Switch incentive

Suits Me is a hassle-free alternative to a traditional bank account. Their current accounts have all the features of a traditional high street bank except for a physical high street presence and no overdraft feature.

Cashplus

Deluxe Bank Account
Cashplus logo

£9.95

Monthly fee

None

Switch incentive

No Credit check required. Instant approval. You can add on a Creditbuilder facility. Account Number and Sort Code immediately available*. Overdraft facility for eligible customers with a limit up to £250. £5.95 Card Issue Fee. £9.95 Monthly fee. Please see 'More Info'. *Terms and Conditions apply, including applicants being resident in the UK & aged 18+.

Suits Me.

Premium Plus Current Account
Suits Me. logo

£9.97

Monthly fee

None

Switch incentive

Suits Me is a hassle-free alternative to a traditional bank account. Their current accounts have all the features of a traditional high street bank except for a physical high street presence and no overdraft feature.

Thinkmoney

Current Account
Switch Guarantee
Thinkmoney logo

£10.00

Monthly fee

Switch guarantee

Switch incentive

No credit checks to open an online current account. You can apply if you have bad credit, a CCJ or going through bankruptcy. Makes managing your finances simple and hassle free: Money managers help budget bills which could improve your credit rating.

  • Current Accounts
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  • Compare Basic Current Accounts

    If you just need a current account for depositing money and making purchases, a basic current account might be the best option for you. Most major banks and building societies will have basic current accounts available, meaning that you won’t struggle trying to find one that is right for you.

    What is a basic current account?

    A basic current account is simply a stripped-down version of a standard current account, allowing you to deposit money, spend using a cash card, set up direct debits and transfer money as you see fit. They are usually taken out if you have a bad credit score, or no credit score at all if you’re a young person who hasn’t had a chance to build up any sort of credit history.

    It usually does not include any additional features, such as a debit card, an overdraft facility, a cheque book or the ability to set up standing orders. This makes the account limited, but still useful as you’re able to keep your money secure.

    What should I look out for with a basic current account?

    • Debit or cash card – a basic current account should include a debit card or cash card to use for spending
    • Features – despite a basic current account being fairly restricted with what you can do, you can sometimes get benefits such as cashback, text alerts, online banking and the ability to set up standing orders
    • Penalties or fees – if you don’t have enough in your account to cover outgoing payments you might be hit with expensive penalty charges. There might also be fees for withdrawing too much cash, spending abroad or using a faster payments service such as CHAPS

    Should I get a basic current account?

    If you have a bad credit history and have struggled being accepted by card providers or lenders in the past, you might be better off with a basic current account.

    Despite the lack of facilities or benefits that come with it, you can still keep your personal finances under control, with less chance of you overspending due to such tight restrictions. Just make sure that you have enough in your account to cover any outgoing payments, as you might face steep penalties if you go overdrawn with a basic current account.

    Which providers offer basic current accounts?

    Most major banks and building societies will supply a basic current account, though they don’t often advertise them clearly as they are mostly for if you have a poor credit score.

    Whilst standard current accounts will be readily available, you sometimes need to request a basic current account. The good news is that they don’t usually require a credit check so are very easy to set up with most major account providers.

    Our current account providers

    We work with a huge range of providers to give you a wide selection of current accounts to choose from, ensuring you can find an account that will assist you in managing your money.

    Each provider is screened to make sure they meet our high standards before we agree to work with them. This ensures that you can trust them as much as we do, allowing you to find the best product from a reputable source.

    We have a wide range of current accounts from high street banks with thousands of branches to smaller challenger banks whose app-based current accounts can be accessed quickly and easily.

    Whether you are looking to switch to a standard current account, or find a student account with a free overdraft, you can easily browse our products and start comparing them today.

    Have a look through our list of providers to find the right current account for you.

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