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If you’re searching for a new bank account that offers a particular benefit such as cashback or insurance, there are plenty of options to choose from.
This guide will give you an overview of the best current accounts at present, depending on your needs. Providers sometimes offer generous cash incentives for switching accounts, so we’ll keep you updated with any offers. Find out more about the different types of bank accounts and how to switch in our article Should I switch my bank account?
Current best buys, according to financial analyst Moneyfacts.co.uk, are as follows:
Best bank accounts
The right current account for you will depend on how you manage your money. For example, you might be lucky enough to always be in the black, or you may spend most of the month relying on your overdraft to make ends meet. The list below highlights the best accounts based on a range of different requirements.
Best if you want cashback:
Zopa Biscuit
Zopa’s ‘Biscuit’ current account pays a 2% annual equivalent rate (AER) on all balances. Customers also earn 2% cashback on bills, but this is currently boosted to an impressive 4% on up to £2,000 of direct debits for a year for anyone who opens an account in May. Biscuit account holders can also get access to Zopa’s Smart Saver account. This is a regular savings account which pays 7.10% AER on deposits of up to £300 a month. The Biscuit debit card offers fee-free overseas spending, as well as fee-free cash machine withdrawals up to £200 within a 30-day period.
Santander Edge
Santander has replaced its 123 Lite account with its Edge current account, which comes with a £3 monthly fee. You get 1% back on water, energy, council tax, mobile, broadband, phone and paid-for TV bills (up to a maximum of £10 a month). The account comes with a linked savings account paying 6% on balances up to £4,000. The debit card is fee-free for overseas spending and ATM withdrawals.
Find out more at: Santander
Chase
Customers opening the Chase current account will qualify for unlimited 1% cashback (max £15 per month) on debit card spending for a year. The amount of cashback you receive will then be capped at £15 per month, and you’ll need to pay in £500 per month to receive it. After the first year, you’ll need to pay in £1,500 a month to qualify for cashback. You can also get access to a linked 4.50% easy access savings account and a ‘round-up’ account paying the same rate, as well as a debit card that’s fee-free for overseas spending.
Find out more at: Chase
Best for interest: LHV Bank
LHV Bank’s current account tracks and pays the full Bank of England base rate, currently 3.75%
AER, on balances up to £1 million (although only the first £120,000 is protected by the Financial Services Compensation Scheme). The rate is guaranteed to follow the base rate until 1 January 2027.
Find out more: LHV Bank
Best for overdrafts: First Direct 1st account
Customers benefit from a £250 interest-free overdraft, but beware the rate rockets to 39.9% EAR above this amount (the same as for unarranged overdrafts). This makes it a good choice for those who tend to dip a little into the red each month, but don’t need a large overdraft facility.
The First Direct account also comes with a £175 switching incentive and access to a Regular Saver account paying 7% before tax (find out more about this account below).
Alternatively, app-based Starling bank account charges lower than average overdraft rates, at 15%, 25% or 35% EAR variable, depending on your credit history. There are no additional charges for unarranged overdrafts.
Find out more at: First Direct and Starling Bank
Best for regular savers: First Direct
If you have a current account with First Direct, you can open a linked First Direct Regular Saver account. This account pays 7% fixed for 12 months, and allows you to save between £25 and £300 every month. This account could be a good way to get into the savings habit and build a rainy day cash fund.
Find out more: First Direct
The Co-operative Bank
Co-operative Bank also offers a linked savings account to its current account customers. The Regular Saver Issue 1 account pays a competitive 7% annual interest on savings up to £250 a month. You can make withdrawals from this account if you want to, and interest will be paid at the end of the 12-month account term.
Find out more: The Co-operative Bank
Best app-based account for savers: Kroo current account
If you’re after a smaller, app-based bank because you like managing your money on the go, challenger bank Kroo’s current account offers 2.65% AER on balances up to £500,000 (although only the first £120,000 is protected under the Financial Services Compensation Scheme (FSCS).
If you’re comfortable accessing your account on your smartphone, Kroo’s current account comes with plenty of useful features. You can view categorised spending insights to see how you’re spending money, track and settle up shared expenses and freeze your card if you need to. You can withdraw up to £200 every 30 days without paying any fees, but for any withdrawals over £200 within 30 days, you’ll be charged 3%. You can also use your Kroo current account abroad with zero fees.
Kroo is a relatively new bank, but it says that it’s a bank to change banking. It promises to plant two trees for every new customer, and has a goal of planting 1m trees by the end of the year.
Find out more at: Kroo
Best packaged bank account: Virgin Money Club M
You can get more than £500 worth of cover for all your family phones, gadgets and worldwide family travel insurance (up to age 75) for £14 a month. This account also comes with UK breakdown cover included.
Find out more at: Virgin
Current accounts paying switching incentives
Incentives offered to customers switching current accounts will often be a cash bonus of hundreds of pounds. Although these disappeared recently, they are gradually starting to return, so even if there aren’t any offers around when you want to move, it might be worth waiting a week or two to see if they come back.
Here are some of the best switching incentives that are currently available:
Barclays £200
Barclays Bank is currently offering a £200 cash incentive to anyone who switches to a Barclays Bank Account before 28 May.h. To qualify for the cashback, you’ll need to pay a minimum of £2,000 into the Barclays Bank Account within 30 days of opening.
For an optional £5 a month, you can sign up to Barclays’ Blue Rewards scheme, which offers a range of different perks, including a free Apple TV+ subscription (usually £9.99 a month) and a free Major League Soccer Season Pass subscription.
Find out more at: Barclays
First Direct £200 cashback
First Direct is offering £175 to current account switchers, and most will also receive a £250 overdraft at 0%. You can also benefit from a 7% regular saver for one year if you put away £300 per month. If you saved the maximum amount, you’d receive £136 in interest. You’ll need to switch with two direct debits and pay a total of £1,000 per month into the account within 30 days, and log into the digital banking service.
Find out more at: First Direct
Santander £180
New customers switching to either a Santander Edge current account, Edge Up account or an Everyday current account using the Current Account Switch Service can get £180 cashback. To qualify, customers must complete the full switch within 60 days of requesting it, and pay in at least £1,500 within 60 days of requesting the switch. They must also set up two active Direct Debits within 60 days. The Edge accounts give you cashback on water, energy, council tax, mobile, phone, broadband and paid-for TV bills, as well as on most supermarket and travel spending. You’ll also get access to a linked 6% easy-access saver account once you’ve switched your current account to the bank.
Find out more at: Santander
NatWest £250 cashback (for high earners)
Switch your current account to the NatWest Premier Reward account and you’ll pocket a £250 cash bonus, plus £10 a month in cashback every month you pay out at least two Direct Debits for £4.50 or more and use the app.
However, bear in mind that the NatWest Reward account has a £2 monthly fee, so once this is deducted from the £10 monthly cashback, you end up with £8 a month. To qualify for this account, you’ll need to earn £100,000 or more a year and pay a salary into the account each month, or have £100,000 saved/invested, or have a £500,000 NatWest mortgage. If you don’t meet these requirements, you can still pocket a £200 switching incentive by moving to NatWest’s Reward account.
Find out more at: NatWest
We will update this article with any future deals, so keep an eye out. If you’re thinking of leaving your current bank, don’t ditch it simply for a switching incentive. Ensure that you’re happy with your potential new bank’s customer service reviews, overdraft facilities and interest rates, and these will make a bigger long-term difference to your finances than a one-off incentive for switching.
Rates and offers are correct as of 19.05.2026
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