Compare Current accounts


Let’s compare current accounts

Comparing and switching current accounts could help you to earn interest on your balance, as well as, benefit from competitive overdraft rates, cashback, rewards on spending and additional extras like insurance. Perhaps you bank where your parents did or simply upgraded your student account to a graduate account and haven’t seen what else is on offer. Here’s what you need to know to compare and switch…

Frequently asked questions

Why should I compare current accounts with comparethemarket.com?

We let you quickly find accounts by showing important information for each account, such as the interest rate, overdraft detail and additional account features.

We’ll show you various account options including standard accounts, packaged accounts, student accounts, graduate accounts or basic accounts (don’t worry, these are explained below). So compare your options with us today.

What do you need to consider before comparing compare current accounts?

It’s worth thinking about how you plan to use your current account. Consider your money flow - what amounts do you estimate putting in and taking out each month. Will you need an overdraft? Do you move money often?  

These sorts of things will help you narrow down your options and help you find the current account with the right features for your lifestyle.

What type of current account is right for me?

  • Standard current accounts provide many useful services. You can have your salary paid directly into a current account, settle bills or set up direct debits. These accounts usually provide a debit card that allows you to make cash withdrawals and to pay for items.
  • Packaged accounts are aimed at customers looking for additional extras on top of what’s available with a standard account. Additional extras such as travel insurance, mobile phone insurance, breakdown cover and cashback are typically available.
    However, there are often monthly or annual fees associated with this type of account, so weigh up the benefits versus any fees and make sure it works for you.
  • Student accounts aim to meet the needs of those studying at college or university and typically offer interest-free overdrafts.
  • Graduate accounts are specifically designed for graduates to help pay down overdrafts build up while at university. They normally offer interest free overdrafts for up to three years.
  • Basic bank accounts are available to anyone. They tend to suit people who are unable to qualify for a standard account, perhaps because they have a low credit score or have only recently moved to the UK.

What fees do I need to consider when comparing current accounts?

Interest rates (AER): The Annual Equivalent Rate (AER) shows the rate of interest a saver will receive over a year assuming the cash is left in the account for the full year and can be paid annually or monthly.

Account fee: This is how much you’ll be charged on a monthly or yearly basis for using the account.

Overdraft charges: This is how much you will be charged for using the account’s overdraft – based on being £500 in debit. Certain accounts are more generous with their overdraft policies than others. If you often find yourself overdrawn at the end of each month, pay close attention to the related charges.

How do I compare?

Compare current accounts to see whether you can get more for your money, or extras like insurance. Whatever you need, we can help you right here at comparethemarket.com.