Moneyfacts has completed its annual assessment of the personal current account market and awarded its annual Moneyfacts Star Ratings, revealing which standard, premium, student, graduate, youth and packaged accounts are worth considering this year.
The Moneyfacts Star Ratings are based on the weightings of specific criteria that are likely to be relevant to consumers, such as overdraft facilities, interest rates and whether or not they offer any extras, using our vast knowledge base and extensive analysis of these products. The Moneyfacts Star ratings therefore allow you to choose with confidence the highest quality current account that most suits your needs.
Samantha Owens, insight manager at Moneyfacts, said: "In the confusing world of current accounts, it can be difficult to find a product that meets all your day-to-day banking needs and gives you the best range of benefits. As overdrafts become increasingly complicated and the search for credit interest becomes even harder, the Moneyfacts star ratings look at all features of the product, allowing the customer to narrow their search. This means the consumer gets an extra seal of assurance when choosing a five-star product."
Five-star accounts include the 'big hitters' such as Lloyds Bank, RBS and TSB, but also some lesser-known names as far as the current account sector is concerned, such as the Northern Irish First Trust Bank and first direct. With still plenty of variety among these highest-ranked accounts, there's sure to be something in there to suit your needs.
For a full list of five and four-star current accounts, go here. If you're looking to switch your current account, the Current Account Switch Service can help you do just that, in as little as seven working days, with the help of its widely regarded Switch Guarantee. Don't forget to have a look at our current account Best Buys either, as these show the benefits of the accounts as they currently stand, which can of course change at any time as providers react to the ever-changing market.
Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.
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