Basic Current Accounts

  • Basic current accounts are 'no-frills' products that only provide everyday banking services with no monthly fee
  • Use our quick and easy comparison tool to compare basic bank accounts available from high street banks and internet providers.
  • Compare up-to-date information on account features to find your ideal account.

What type of current account are you looking for?

Promotion
Nationwide FlexDirect
  • 5% AER (4.89% gross p.a.) fixed in-credit interest on balances up to £2,500
  • 12 month fee-free arranged overdraft available*
  • No monthly fee
  • NatWest logo

    NatWest Select Account

    • Bank anywhere with our mobile app
    • 24-hour telephone banking and Online banking
    • Get Emergency Cash
    • Maximum Interest (AER) [?]
      0%
    • Switching Incentive
      None
    • Minimum Monthly Credit
      None
    • Monthly Fee
      Free

    Interest details

    • No interest is paid on in-credit balances on this account

    Overdraft details

    • 19.89% EAR (variable) and a monthly Usage Fee of £6 on all arranged overdrafts
    • Unarranged Overdraft Usage Fee of £6 per day. This is then capped at £90 per charging period.
  • Nationwide logo

    Nationwide FlexAccount

    • No monthly fee
    • 3 month interest-free arranged overdraft available
    • Maximum Interest (AER) [?]
      0%
    • Switching Incentive
      None
    • Minimum Monthly Credit
      None
    • Monthly Fee
      Free

    Interest details

    • No interest is paid on in-credit balances on this account

    Overdraft details

    • Arranged overdraft fees: 0% for the first 3 months (conditions apply)
    • 18.9% EAR (variable) thereafter
    • Unrranged overdraft fees: 18.9% EAR (variable)
    • For every payment that is NOT made over and above your reserve limit, you'll be charged an unpaid transaction fee of £15
    • The total sum of fees (including any paid/unpaid transaction fees) is capped at £75 per statement month
  • Santander logo

    Santander 123 Current Account

    • 1% cashback on water and council tax bills and on your Santander monthly mortgage payments (up to maximum of £1,000)
    • 2% cashback on gas and electricity bills and on Santander home insurance premiums (policies administered and underwritten by Aviva Insurance Limited)
    • 3% cashback on mobile, home phone, broadband and paid for TV packages
    • Maximum Interest (AER) [?]
      1.5%
    • Switching Incentive
      None
    • Minimum Monthly Credit
      £500
    • Monthly Fee
      £5

    Interest details

    • 1.50% AER/1.49% gross (variable) interest on your entire balance up to £20,000

      Cashback Details
      To get cashback on your household bills and interest on your balance, just follow these steps:
    • · Pay at least £500 into your account each month - any interest paid and payments between Santander personal accounts you're named on won't count towards this
    • · Have at least two active Direct Debits - you'll receive cashback on any qualifying household bills you pay by Direct Debit

    Overdraft details

    • You could get a 4 month fee-free Arranged Overdraft when you switch to us. (Overdrafts are offered depending on your circumstances.)
    • The Arranged Overdraft Usage Fee will depend on the amount you use:
    • Below £2,000 - £1 a day
    • £2,000 to £2,999.99 - £2 a day
    • £3,000 and over - £3 a day
    • Unarranged Overdraft Usage Fee - £6 per day
  • Santander logo

    Santander 123 Lite Current Account

    • 1% cashback on water and council tax bills and on your Santander monthly mortgage payments (up to maximum of £1,000)
    • 2% cashback on gas and electricity bills and on Santander home insurance premiums (policies administered and underwritten by Aviva Insurance Limited)
    • 3% cashback on mobile, home phone, broadband and paid for TV packages
    • 5% cashback on eligible purchases made before 30 September 2017 using Apple Pay, Android Pay and Samsung Pay
    • Maximum Interest (AER) [?]
      0%
    • Switching Incentive
      None
    • Minimum Monthly Credit
      £500
    • Monthly Fee
      £1

    Interest details

    • No interest is paid on in-credit balances on this account

      Cashback Details
      To get cashback on your household bills, just follow these steps:
    • · Pay at least £500 into your account each month - any interest paid and payments between Santander personal accounts you're named on won't count towards this
    • · Have at least two active Direct Debits - you'll receive cashback on any qualifying household bills you pay by Direct Debit
    • · Log on to Online or Mobile Banking at least once in every three months

    Overdraft details

    • You could get a 4 month fee-free Arranged Overdraft when you switch to us. (Overdrafts are offered depending on your circumstances.)
    • The Arranged Overdraft Usage Fee will depend on the amount you use:
    • Below £2,000 - £1 a day
    • £2,000 to £2,999.99 - £2 a day
    • £3,000 and over - £3 a day
    • Unarranged Overdraft Usage Fee - £6 per day
Please note: Our comparison service features a selection of providers from whom we receive commission. This table is initially ordered according to our commercial arrangements. You can use the options above the table to order it according to various criteria.

Award winning comparison you can trust

It's always nice to know you're on the right track. Over the years, as we have striven to improve the services we provide to our clients and users, we have been pleased to receive recognition for our efforts from both industry and consumer bodies.

More about basic current accounts

Some current accounts these days come with a whole lot of fancy whizz and pop. But if you don't need anything other than basic banking features you can keep it minimal.

The basic free-of-charge current account comes with a debit card which you can use in cash machines and in the shops and you can have direct debits and standing orders set up to automatically pay the bills. You either top up the account with cash, regular income such as your salary, or by transfer from another account.

Some of the accounts come with a cheque book and an overdraft facility. The very most basic don't though, and these are great for young people or those with poor credit histories.

Often basic accounts have restricted access to branch facilities - you have to administer the account either online or via the telephone. Don't worry though, there's very little in the banking world that you can't do from the comfort of your own home these days.

Some basic accounts may also prevent you from using your card abroad and they pay next to nothing in interest. Therefore it's best to only keep enough money in there to cover the bills and your day-to-day costs.

As well as the normal banks and building societies, see what's on offer from specialist telephone based providers. They often focus their attentions solely on basic accounts and could present a good alternative to the high street names, depending on your circumstances.

Click here to find out more about current account types with our handy FAQ guide.

Helpful links for current account issues

Financial Conduct Authority (FCA) - The UK financial regulator's website features lots of useful information for banking customers covering everything from knowing your rights to how to stop unauthorised payments.

Financial Service Compensation Scheme (FSCS) - The FSCS is the best place to find out if your bank is covered by the compensation scheme and for advice on making a claim.

Financial Ombudsman Service - If you've complained to your bank and are still having ongoing problems then the Financial Ombudsman is the next step - their website covers everything you need to know about making a complaint.

Money Advice Service - The government's Money Advice Service provides unbiased advice on choosing, opening and managing a current account.

Featured brands

Important information

Knowyourmoney.co.uk is a free service with no charge to the user, for more details on how our site works click here.

Knowyourmoney.co.uk is a trading style of Notice Media Ltd, Registered Office: Floor 3 Haldin House, Old Bank of England Court, Queen Street, Norwich, Norfolk NR2 4SX Registered in England & Wales No 05409985 and also in accordance with the Data Protection Act (1988) Registration Number: Z955517X

Notice Media is authorised and regulated by the Financial Conduct Authority, FRN 771521. In respect of consumer credit, knowyourmoney.co.uk acts as a credit broker - not a lender.