Best current account UK: 2026 comparison

HSBC Advance pays £500 in September 2026, the highest cash bonus on the market. NatWest follows at £250, Barclays at £200 and Santander at £180 plus a £30 Amazon voucher. First Direct (part of the HSBC group) pays £175. Bonuses change every few weeks, so confirm live on the bank's page.

Yes, but a switch involves a hard credit search by the new bank, which can knock your score by a few points for a few months. Basic bank accounts (offered by every big UK bank) are available regardless of credit history. Digital banks like Monzo and Starling generally only run ID and fraud checks, so they are also credit-friendly.

No. The CASS guarantee covers any error, including missed direct debits and any fees that result. The new bank takes responsibility from the switch date. In 12 years of CASS operation, more than 11 million UK switches have completed and the failure rate sits below 0.5%.

Almost every bank pays each customer a switching bonus only once, ever. UK banks share switching records, so you cannot collect the same offer twice. But you can collect bonuses from different banks in succession, every few months, provided you meet each bank's criteria.

Yes, if the provider holds a UK banking licence. Monzo, Starling, Chase UK and (since March 2026) Revolut Bank UK Ltd are all fully licensed. Eligible deposits at each are FSCS-protected up to £120,000 per person per institution, the same ceiling as HSBC or Barclays.

CASS closes the old account automatically on the switch date as part of the 7-day process. If you want to keep the old account open, do not use CASS, open the new account separately and move payments manually. You will usually forfeit the switching bonus in that case.

Few current accounts pay much interest on the balance itself, so the best returns come from a linked saver. In 2026 the Santander Edge linked saver pays up to 6% AER on balances to £4,000, Monzo Savings Pots reach up to 5% AER on the Extra plans, and Chase pairs a competitive easy-access saver with 1% cashback. All these rates are variable, so confirm the live figure before relying on it.

Students should look at the dedicated student accounts from First Direct, NatWest, Santander and HSBC, which offer staged interest-free arranged overdrafts (often £1,500 rising to £2,000 to £3,000 over the course). Among standard accounts, First Direct includes a £250 interest-free overdraft buffer, and Monzo and Starling price arranged overdrafts on a credit-based tier (from 15% to 39% EAR) rather than a flat 39.9%.