Switching bank accounts has never been easier or faster thanks to the new Current Account Switch Service. This free scheme means the once-daunting task of changing bank accounts will now be completed in seven working days or less.
So now there's no excuse to stay with your current banking provider if you're fed up with their service or unhappy with the high fees and charges.
Below we've listed a selection of the top bank accounts currently available. All listed providers are Switch Service Guarantee members. This means if you switch to them the process will be completed in seven days or less.
Halifax Reward Current Account - Funded
Penny says… "Halifax's stellar current account pays customers £100 for switching, and will also pay £5 into the account every month if account holders remain in credit.
"Customers must remember that once the introductory term is over, they'll be charged a daily fee of up to £3 for authorised overdrafts or up to £5 per day for unauthorised."
Nationwide Building Society FlexDirect - Funded
Penny says… "Nationwide's FlexDirect bank account pays a highly competitive 5% gross interest on account balances up to £2,500 – a higher rate than many chart-topping savings accounts!
"Customers will also benefit from an introductory 0% interest on authorised overdrafts for the first 12 months."
Santander 123 Current Account
Penny says… "Paying 3% interest on balances between £3,000 and £20,000, Santander's 123 Current Account is perfect for higher earners. Customers will also benefit from generous cashback on all household bills.
"Account holders must take note that this account charges a £2 monthly fee."
Nationwide Building Society FlexPlus
Penny says… "This packaged account includes worldwide mobile phone and travel insurance for the whole family as well as UK and European breakdown cover, all for a monthly fee of £10.
"Account holders will also benefit from the 3% interest being paid on balances up to £2,500."
Halifax Ultimate Reward Current Account - Funded
Penny says… "This bank account from Halifax also includes worldwide mobile phone and travel insurance as well as UK breakdown cover.
"Although account holders will be charged a £15 monthly fee, the £100 cashback incentive for switching to Halifax definitely makes this account value for money ."
first direct 1st Account - without First Directory
Penny says… "First direct pays customers a market-leading £125 for switching to its bank account.
"First direct says it's so confident customers will be so happy with its service that they'll never want to leave. It's backing this claim up by offering £100 if customers close their account within the first 12 months as long as certain conditions are met."
Information & Rates correct as at: 24/09/2013
Find the best bank account for you using our whole of market search
How to switch current accounts
Current account switching - who's participating?
Infographic - Switch your current account in 7 days
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.
Moneyfacts.co.uk will, like most other websites, place cookies onto your computer’s
hard drive. This includes tracking cookies.