How does Rest Less make money
We make money through advertising and commission from affiliate links, which enable us to offer Rest Less as a free service to our users. The content on this page may use affiliate links, which track traffic from our website to a third party provider and enable us to receive a commission or payment from any traffic we refer.
* Affiliate links on this page have an * next to them. We place enormous importance on our editorial independence and the integrity of our content which means that we will never change how we write about something as a result of an affiliate link.
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?
Some of the current best buys 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 a few of the best accounts based on a range of different requirements.
Best if you want cashback:
Chase
Customers opening the Chase current account will qualify for 2% cashback (max £20 per month) on debit card spending for a year, 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 4.5% easy access savings account and a ‘round-up’ 5% interest boost when you round up your debit card spending to the nearest £1. This account is also useful if you travel a lot, as the debit card is fee-free for overseas spending.
Find out more at: Chase
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, with this rate including a 2.50% bonus for the first 12 months. The debit card is fee-free for overseas spending and ATM withdrawals.
Find out more at: Santander
Best for interest
Chase
Open a current account with Chase and you’ll have access to its linked easy access saver account paying 4.5% interest a year. Bear in mind this rate includes a 2.25% fixed bonus which is only payable for the first year.
Find out more at: Chase
LHV Bank
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 currently also comes with a £200 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
Santander
If you have a Santander current account, you’ll have access to Santander’s Regular Saver account which pays 8% annual interest (falling to 3% after the first year). You can pay a maximum of £200 a month into this account, and you can skip contributions for as many months as you want to.
Find out more: Santander
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 accounts
Monzo
The Monzo account has features including ‘Pots’ (separate sub-accounts) and ‘Salary Sorter’ so that you can divide your pay into spending, savings, and bills. However, depositing cash incurs a £1 fee per deposit (or is capped at £750 per month). There is no in-app cheque imaging, so you must post cheques to Monzo for them to be deposited in your account.
Find out more: Monzo
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: Kroo
Starling
Starling’s app-based current account has no fees for spending abroad, integrated budgeting tools, and no monthly account fees. You can also set aside money with Savings Spaces within the app, separated from your balance. Starling does not pay interest on money held in its current accounts. To earn interest, you will need to move your money into a separate Starling savings product, such as their Easy Saver Savings Account, which currently pays a variable interest rate of 2.50% AER.
Find out more: Starling
Best packaged bank account
Co-operative Bank
If you’re looking for a packaged bank account, the Co-op’s Everyday Extra account costs £12 a month and comes with a range of insurance and assistance benefits that could be worthwhile if you’d otherwise pay for them separately.
Included in the package is worldwide family travel insurance for those aged up to 79, with winter sports and golf cover included. You’ll also get mobile phone insurance, subject to a £75 excess per claim, as well as UK and European breakdown cover providing roadside assistance, recovery, home start, onward travel and a replacement vehicle if needed.
New customers who switch from another bank can also bag £200. You can find out how to qualify below.
Find out more: The Co-operative Bank
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:
HSBC £220
HSBC is currently offering a £220 cash switching incentive to new customers, making it one of the most competitive bank switch deals available at the moment. To qualify, you’ll need to move your current account to HSBC, pay in at least £2,000 and make £500 of debit card purchases within the first 60 days.
The account also provides access to HSBC’s Regular Saver, which pays a fixed rate of 5% interest for 12 months on savings of up to £250 a month. You won’t be eligible for this offer if you have held an HSBC or First Direct current account since 1 January 2023.
Find out more: HSBC
Barclays £200
Barclays Bank is currently offering a £200 cash incentive to anyone who switches to a Barclays Bank Account before 27 August. 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. If you make your switch before 31 July, you’ll earn 5% cashback when you spend £5 or more on petrol or diesel at a Tesco forecourt using your debit card (up to a maximum of £10 a month)
Find out more at: Barclays
Santander £200
Santander is offering £180 cashback to customers moving to its Edge current account. Customers must complete the full switch within 60 days, pay in at least £1,500 and set up two active Direct Debits. You’ll only be eligible if you didn’t already hold a Santander current account on 1 January 2025.
This account has a £3 monthly fee, but pays 1% cashback on a range of household bills, including Council Tax, energy, water, mobile and home phone, and broadband bills. Cashback is capped at £10 per month.
It also comes with a linked savings account paying a variable interest rate of 6% for 12 months on balances of up to £4,000, and access to a regular saver account that pays a variable interest rate of 8% for one year, into which you can save up to £200 each month.
Find out more at: Santander
First Direct £200 cashback
First Direct is offering £200to 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 to 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
Co-operative Bank £200 cashback
New and existing customers with The Co-operative Bank could earn up to £200 in switching incentives for moving their current account.
New customers will receive a £125 lump sum payment when they complete a full switch from another bank to the Bank’s standard fee-free current account or its Everyday Extra current account using the current account switching service. Bear in mind that the Everyday Extra account is a packaged account which has a £12 monthly fee. In return for this, you get a package of extras including mobile phone insurance, worldwide travel insurance, and UK & European breakdown cover.
To qualify for the additional £75, which is paid in three £25 monthly instalments, you need to actively use your current account each month by depositing £1,500 or more, making five or more card or digital wallet transactions and having two or more active Direct Debits.
Find out more at: The Co-operative Bank
NatWest Reward £200 cashback
Switch your current account to the NatWest Reward account, and you’ll pocket a £200 cash bonus, plus up to £36 a year in cashback
However, bear in mind that the NatWest Reward account has a £2 monthly fee, so once this is deducted from the £36 annual cashback, you end up £12 better off (although you’ll also get the £200 switching bonus). To qualify for this account, you’ll need to pay in £1,250 and log into the mobile app.
Find out more at: NatWest
Nationwide
Nationwide Building Society has introduced a £175 cash bonus for current account switchers moving to its FlexDirect account. This current account pays 5% interest on balances of up to £1,500 for the first year, so you could earn up to £75 in interest if you keep the maximum qualifying balance in the account.
You’ll also receive 1% cashback on eligible debit card spending for 12 months, up to a maximum of £5 a month, provided you pay at least £1,000 into the account each month
To qualify for the bonus, you’ll need to switch a non-Nationwide bank account with at least two active Direct Debits to the building society. Within 31 days of requesting the switch, you need to put at least £1,000 into the account and pay for something once using your debit card, and the £175 should be paid within 10 days of meeting all these criteria.
Find out more at: Nationwide
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 06/07/2026
Rest Less Money is on Instagram. Check out our account and give us a follow @rest_less_uk_money for all the latest Money News, updated daily.
Join the discussion
Read our full commenting terms and guidelines