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A free, no fee bank account offers a basic account without monthly or annual fees. Some accounts provide additional functions, such as an overdraft, which you will be charged for if used. If you would like more information about free, no fee bank accounts read our guide below.

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Select from the filters to refine your results and find what you are looking for Show
Select from the filters to refine your results and find what you are looking for:

Nationwide BS Logo
Nationwide BS FlexDirect - Funded FSCS logo
FSCS logo
Overdraft Rate (EAR)
0.00%
£0.50 Per Day
Interest Rate (AER)
5.00%
Account Fee
N/A
Account Management
Additional Information
5% AER credit interest on balances up to £2.5K for first 12 months
At least £1,000 must be paid in each month
Earn up to £500 per year through recommend a friend scheme
Go To Provider's Site
Representative Example:Based on an overdraft limit of £500 charged at 0.00% EAR Variable. Up to £10.00 overdraft: fee of £0.00 per day. Over £10.00 overdraft: fee of £0.50 per day.
General
Credit Interest Rates
Foreign Usage
Service Performance
Overdraft's
Benefits

General Account Details

Funding Required
Regular Funding/Income: Min £1000.00 Per Month
Minimum / Maximum Age
Min 18 Years
Eligibility
None
Account Fee
None
Introductory Account Fee
None

Facilities

Cheque Book
Direct Debits
Standing Orders
Tied/Linked Accounts
Switch Service Guarantee
Debit Card
Visa
Withdrawal Limit
£500

Credit Interest Rates

Balance
Gross Rate %
AER %
£0.01 - £2500.00
4.89%
5.00%
£2500.01+
0.00%
0.00%

Foreign Usage Charges

Debit card payment in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.75% / 2.75%
Transaction Charge
£0.00 / £0.00
Cash withdrawal in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.75% / 2.75%
Transaction Charge
£1.00 / £1.00

Service Performance

The table below shows the provider's current account service performance.
The information shown covers all of their main current accounts, not just specific to this account.
Service Completed
Same day Average 99%
Open a current account* 100% 0 days 0 days
Get a debit card 0% 7 days 11 days
Get internet banking 0% 8 days 14 days
Get an overdraft 0% 2 days 5 days
Replace a lost debit card 0% 6 days 9 days
* Once all requested documents and information have been received.

Overdrafts

Introductory Arranged Overdraft
Introductory Arranged on
Transferred Current Accounts
0.00% for 12 months
N/A
Arranged Overdraft
Arranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
0.00% - Per Month
0.00%
Usage Fee
N/A
Arrangement Fee
N/A
Review Fee
N/A
Grace period
14:30 same day
Interest Free Overdraft Buffer
N/A
Fee Free Overdraft Buffer
N/A
Unarranged Overdraft
Unarranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
0.00% - Per Month
0.00%
Fee
N/A
Paid Referral Fee
N/A
Grace Period
14:30 same day
Interest Free Overdraft Buffer
N/A
Fee Free Overdraft Buffer
N/A
Monthly Maximum Charge
50.00

Benefits

Other benefits, as well as those shown, might be available on this account. A full list of benefits will be included in the terms and conditions of the account.
Cashback on operating account
- "Recommend a Friend" scheme, existing customers introducing a friend to a Nationwide current account will receive £100, the friend will also receive £100. New customer must use the current account switch service and transfer 2 direct debits.
Credit cards - preferential terms
- Eligible for Select Credit Card.
Loans - preferential terms
- Discounted rates on loans.
Savings - preferential terms
- Eligible for Flexclusive accounts.
Nationwide BS Logo
Nationwide BS FlexDirect - Non-funded FSCS logo
FSCS logo
Overdraft Rate (EAR)
0.00%
£0.50 Per Day
Interest Rate (AER)
0.00%
Account Fee
N/A
Account Management
Additional Information
Earn up to £500 per year through recommend a friend scheme
No interest paid on credit balances
Switch Service Guarantee member
Go To Provider's Site
Representative Example:Based on an overdraft limit of £500 charged at 0.00% EAR Variable. Up to £10.00 overdraft: fee of £0.00 per day. Over £10.00 overdraft: fee of £0.50 per day.
General
Credit Interest Rates
Foreign Usage
Service Performance
Overdraft's
Benefits

General Account Details

Funding Required
Regular Funding/Income: Max £999.99 Per Month
Minimum / Maximum Age
Min 18 Years
Eligibility
None
Account Fee
None
Introductory Account Fee
None

Facilities

Cheque Book
Direct Debits
Standing Orders
Tied/Linked Accounts
Switch Service Guarantee
Debit Card
Visa
Withdrawal Limit
£500

Credit Interest Rates

Balance
Gross Rate %
AER %
£0.01+
0.00%
0.00%

Foreign Usage Charges

Debit card payment in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.75% / 2.75%
Transaction Charge
£0.00 / £0.00
Cash withdrawal in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.75% / 2.75%
Transaction Charge
£1.00 / £1.00

Service Performance

The table below shows the provider's current account service performance.
The information shown covers all of their main current accounts, not just specific to this account.
Service Completed
Same day Average 99%
Open a current account* 100% 0 days 0 days
Get a debit card 0% 7 days 11 days
Get internet banking 0% 8 days 14 days
Get an overdraft 0% 2 days 5 days
Replace a lost debit card 0% 6 days 9 days
* Once all requested documents and information have been received.

Overdrafts

Introductory Arranged Overdraft
Introductory Arranged on
Transferred Current Accounts
0.00% for 12 months
N/A
Arranged Overdraft
Arranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
0.00% - Per Month
0.00%
Usage Fee
N/A
Arrangement Fee
N/A
Review Fee
N/A
Grace period
14:30 same day
Interest Free Overdraft Buffer
N/A
Fee Free Overdraft Buffer
N/A
Unarranged Overdraft
Unarranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
0.00% - Per Month
0.00%
Fee
N/A
Paid Referral Fee
N/A
Grace Period
14:30 same day
Interest Free Overdraft Buffer
N/A
Fee Free Overdraft Buffer
N/A
Monthly Maximum Charge
50.00

Benefits

Other benefits, as well as those shown, might be available on this account. A full list of benefits will be included in the terms and conditions of the account.
Cashback on operating account
- "Recommend a Friend" scheme, existing customers introducing a friend to a Nationwide current account will receive £100, the friend will also receive £100. New customer must use the current account switch service and transfer 2 direct debits.
Credit cards - preferential terms
- Eligible for Select Credit Card.
Loans - preferential terms
- Discounted rates on loans.
Savings - preferential terms
- Eligible for Flexclusive accounts.
Santander Logo
Santander Everyday Current Account FSCS logo
FSCS logo
Overdraft Rate (EAR)
0.00%
£1.00 Per Day
Interest Rate (AER)
0.00%
Account Fee
N/A
Account Management
Additional Information
No monthly funding requirement
No interest on credit balances
Switch Service Guarantee member
Go To Provider's Site
Representative Example:Based on an overdraft limit of £500 charged at 0.00% EAR Variable. Overdraft fee of £1.00 per day.
General
Credit Interest Rates
Foreign Usage
Service Performance
Overdraft's
Benefits

General Account Details

Funding Required
None
Minimum / Maximum Age
Min 18 Years
Eligibility
None
Account Fee
None
Introductory Account Fee
None

Facilities

Cheque Book
Direct Debits
Offset Option
Standing Orders
Switch Service Guarantee
Debit Card
Visa
Withdrawal Limit
£300

Credit Interest Rates

Balance
Gross Rate %
AER %
£0.01+
0.00%
0.00%

Foreign Usage Charges

Debit card payment in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.75% / 2.75%
Transaction Charge
£1.25 / £1.25
Cash withdrawal in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.75% / 2.75%
Transaction Charge
1.50% (Min £1.99) / 1.50% (Min £1.99)

Service Performance

The table below shows the provider's current account service performance.
The information shown covers all of their main current accounts, not just specific to this account.
Service Completed
Same day Average 99%
Open a current account* 78% 1 day 10 days
Get a debit card 0% 7 days 7 days
Get internet banking 0% 7 days 9 days
Get an overdraft 100% 0 days 0 days
Replace a lost debit card 0% 4 days 5 days
* Once all requested documents and information have been received.

Overdrafts

Introductory Arranged Overdraft
Introductory Arranged on
Transferred Current Accounts
N/A
0.00% for 4 months
Arranged Overdraft
Arranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
0.00% - Per Month
0.00%
Usage Fee
N/A
Arrangement Fee
N/A
Review Fee
N/A
Grace period
N/A
Interest Free Overdraft Buffer
N/A
Fee Free Overdraft Buffer
N/A
Unarranged Overdraft
Unarranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
0.00% - Per Month
0.00%
Fee
N/A
Paid Referral Fee
N/A
Grace Period
N/A
Interest Free Overdraft Buffer
N/A
Fee Free Overdraft Buffer
£12.00
Monthly Maximum Charge
50.00

Benefits

Other benefits, as well as those shown, might be available on this account. A full list of benefits will be included in the terms and conditions of the account.
Cashback on debit card purchases
- Eligible for Retailer Offers, customers must use online or mobile banking to qualify. Earn up to 15% cashback from selected retailers when using a Santander debit card or credit card
Nationwide BS Logo
Nationwide BS FlexAccount - Funded FSCS logo
FSCS logo
Overdraft Rate (EAR)
18.90%
£0.00
Interest Rate (AER)
0.00%
Account Fee
N/A
Account Management
Additional Information
Earn up to £500 per year through recommend a friend scheme
Must fund account at least £750 each month
Switch Service Guarantee member
Go To Provider's Site
Representative Example:Based on an overdraft limit of £500 charged at 18.90% EAR Variable. Overdraft fee of £0.00 per month.
General
Credit Interest Rates
Foreign Usage
Service Performance
Overdraft's
Benefits

General Account Details

Funding Required
Regular Funding/Income: Min £750.00 Per Month
Minimum / Maximum Age
Min 18 Years
Eligibility
None
Account Fee
None
Introductory Account Fee
None

Facilities

Cheque Book
Direct Debits
Standing Orders
Tied/Linked Accounts
Switch Service Guarantee
Debit Card
Visa
Withdrawal Limit
£500

Credit Interest Rates

Balance
Gross Rate %
AER %
£1.00+
0.00%
0.00%

Foreign Usage Charges

Debit card payment in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.75% / 2.75%
Transaction Charge
£0.00 / £0.00
Cash withdrawal in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.75% / 2.75%
Transaction Charge
£1.00 / £1.00

Service Performance

The table below shows the provider's current account service performance.
The information shown covers all of their main current accounts, not just specific to this account.
Service Completed
Same day Average 99%
Open a current account* 100% 0 days 0 days
Get a debit card 0% 7 days 11 days
Get internet banking 0% 8 days 14 days
Get an overdraft 0% 2 days 5 days
Replace a lost debit card 0% 6 days 9 days
* Once all requested documents and information have been received.

Overdrafts

Introductory Arranged Overdraft
Introductory Arranged on
Transferred Current Accounts
N/A
0.00% for 3 months
Arranged Overdraft
Arranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
1.45% - Per Month
18.90%
Usage Fee
N/A
Arrangement Fee
N/A
Review Fee
N/A
Grace period
14:30 same day
Interest Free Overdraft Buffer
N/A
Fee Free Overdraft Buffer
N/A
Unarranged Overdraft
Unarranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
1.45% - Per Month
18.90%
Fee
N/A
Paid Referral Fee
N/A
Grace Period
14:30 same day
Interest Free Overdraft Buffer
N/A
Fee Free Overdraft Buffer
N/A
Monthly Maximum Charge
50.00

Benefits

Other benefits, as well as those shown, might be available on this account. A full list of benefits will be included in the terms and conditions of the account.
Cashback on operating account
- "Recommend a Friend" scheme, existing customers introducing a friend to a Nationwide current account will receive £100, the friend will also receive £100. New customer must use the current account switch service and transfer 2 direct debits.
Credit cards - preferential terms
- Eligible for Select Credit Card.
Loans - preferential terms
- Discounted rates on loans.
Savings - preferential terms
- Eligible for Flexclusive accounts.
Nationwide BS Logo
Nationwide BS FlexAccount - Non-funded FSCS logo
FSCS logo
Overdraft Rate (EAR)
18.90%
£0.00
Interest Rate (AER)
0.00%
Account Fee
N/A
Account Management
Additional Information
Earn up to £500 per year through recommend a friend scheme
No credit interest paid
Switch Service Guarantee member
Go To Provider's Site
Representative Example:Based on an overdraft limit of £500 charged at 18.90% EAR Variable. Overdraft fee of £0.00 per month.
General
Credit Interest Rates
Foreign Usage
Service Performance
Overdraft's
Benefits

General Account Details

Funding Required
Regular Funding/Income: Max £749.99 Per Month
Minimum / Maximum Age
Min 18 Years
Eligibility
None
Account Fee
None
Introductory Account Fee
None

Facilities

Cheque Book
Direct Debits
Standing Orders
Tied/Linked Accounts
Switch Service Guarantee
Debit Card
Visa
Withdrawal Limit
£500

Credit Interest Rates

Balance
Gross Rate %
AER %
£1.00+
0.00%
0.00%

Foreign Usage Charges

Debit card payment in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.75% / 2.75%
Transaction Charge
£0.00 / £0.00
Cash withdrawal in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.75% / 2.75%
Transaction Charge
£1.00 / £1.00

Service Performance

The table below shows the provider's current account service performance.
The information shown covers all of their main current accounts, not just specific to this account.
Service Completed
Same day Average 99%
Open a current account* 100% 0 days 0 days
Get a debit card 0% 7 days 11 days
Get internet banking 0% 8 days 14 days
Get an overdraft 0% 2 days 5 days
Replace a lost debit card 0% 6 days 9 days
* Once all requested documents and information have been received.

Overdrafts

Introductory Arranged Overdraft
Introductory Arranged on
Transferred Current Accounts
N/A
0.00% for 3 months
Arranged Overdraft
Arranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
1.45% - Per Month
18.90%
Usage Fee
N/A
Arrangement Fee
N/A
Review Fee
N/A
Grace period
14:30 same day
Interest Free Overdraft Buffer
N/A
Fee Free Overdraft Buffer
N/A
Unarranged Overdraft
Unarranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
1.45% - Per Month
18.90%
Fee
N/A
Paid Referral Fee
N/A
Grace Period
14:30 same day
Interest Free Overdraft Buffer
N/A
Fee Free Overdraft Buffer
N/A
Monthly Maximum Charge
50.00

Benefits

Other benefits, as well as those shown, might be available on this account. A full list of benefits will be included in the terms and conditions of the account.
Cashback on operating account
- "Recommend a Friend" scheme, existing customers introducing a friend to a Nationwide current account will receive £100, the friend will also receive £100. New customer must use the current account switch service and transfer 2 direct debits.
TSB Logo
TSB Classic Plus FSCS logo
FSCS logo
Overdraft Rate (EAR)
19.84%
£6.00 Per Month
Interest Rate (AER)
5.00%
Account Fee
N/A
Account Management
Additional Information
Credit interest payable on balances up to £1.5K when account is registered for online banking, paperless statements & correspondence
High arranged overdraft interest rate plus monthly usage fee
Switch Service Guarantee member
Representative Example:Based on an overdraft limit of £500. Up to £35.00 charged at 0.00% EAR Variable. Over £35.00 charged at 19.84% EAR Variable. Up to £35.00 overdraft: fee of £0.00 per month. Over £35.00 overdraft: fee of £6.00 per month.
General
Credit Interest Rates
Foreign Usage
Service Performance
Overdraft's
Benefits

General Account Details

Funding Required
Regular Funding/Income: Min £500.00 Per Month
Minimum / Maximum Age
Min 18 Years
Eligibility
None
Account Fee
None
Introductory Account Fee
None

Facilities

Cheque Book
Direct Debits
Standing Orders
Tied/Linked Accounts
Switch Service Guarantee
Debit Card
Visa
Withdrawal Limit
£300

Credit Interest Rates

Balance
Gross Rate %
AER %
£1.00 - £1500.00
4.89%
5.00%
£1500.01+
0.00%
0.00%

Foreign Usage Charges

Debit card payment in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.99% Charges levied at time of transaction / 2.99% Charges levied at time of transaction
Transaction Charge
£1.00 / £1.00
Cash withdrawal in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.99% Charges levied at time of transaction / 2.99% Charges levied at time of transaction
Transaction Charge
1.50% (Min £2.00, max £4.50) Charges levied at time of transaction / 1.50% (Min £2.00, max £4.50) Charges levied at time of transaction

Service Performance

The table below shows the provider's current account service performance.
The information shown covers all of their main current accounts, not just specific to this account.
Service Completed
Same day Average 99%
Open a current account* 93% 0 days 9 days
Get a debit card 0% 7 days 7 days
Get internet banking 96% 0 days 4 days
Get an overdraft 25% 3 days 6 days
Replace a lost debit card 0% 7 days 7 days
* Once all requested documents and information have been received.

Overdrafts

Introductory Arranged Overdraft
Introductory Arranged on
Transferred Current Accounts
N/A
0.00% for 3 months
Arranged Overdraft
Arranged Overdraft Available
Min. Balance
Rate %
EAR %
£35.01
1.52% - Per Month
19.84%
£0.01
0.00% - Per Month
0.00%
Usage Fee
N/A
Arrangement Fee
N/A
Review Fee
N/A
Grace period
22:00 same day
Interest Free Overdraft Buffer
N/A
Fee Free Overdraft Buffer
N/A
Unarranged Overdraft
Unarranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
1.52% - Per Month
19.84%
Fee
N/A
Paid Referral Fee
N/A
Grace Period
22:00 same day
Interest Free Overdraft Buffer
£10.00
Fee Free Overdraft Buffer
£10.00
Monthly Maximum Charge
80.00

Benefits

Other benefits, as well as those shown, might be available on this account. A full list of benefits will be included in the terms and conditions of the account.
Cashback on operating account
- "Recommend a Friend" scheme, existing customers introducing friends will earn £75 per recommendation (max 5 payments), each friend will also receive £75 provided they are a new customer who opens a Classic or Classic Plus account by 30.6.19, completes a switch using Current Account Switching Service by 26.7.19 and within 28 days has a minimum of 2 active direct debits and credits at least £500.
Mortgages - preferential terms
- £150 cashback on completion for remortgage applications when account funded with at least £500 per month.
Santander Logo
Santander 123 Mini Current Account FSCS logo
FSCS logo
Overdraft Rate (EAR)
N/A
Interest Rate (AER)
3.00%
Account Fee
N/A
Account Management
Additional Information
Interest paid on credit balances up to £2,000
Age restrictions apply
Switch Service Guarantee member
Representative Example:N/A
General
Credit Interest Rates
Foreign Usage
Service Performance
Overdraft's
Benefits

General Account Details

Funding Required
None
Minimum / Maximum Age
Min 13 Years / Max Under 18 Years
Eligibility
None
Account Fee
None
Introductory Account Fee
None

Facilities

Direct Debits
Standing Orders
Switch Service Guarantee
Debit Card
Visa
Withdrawal Limit
£300

Credit Interest Rates

Balance
Gross Rate %
AER %
£0.01 - £99.99
0.00%
0.00%
£100.00 - £199.99
1.00%
1.00%
£200.00 - £299.99
1.98%
2.00%
£300.00 - £2000.00
2.96%
3.00%
£2000.01+
0.00%
0.00%

Foreign Usage Charges

Debit card payment in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.75% / 2.75%
Transaction Charge
£1.25 / £1.25
Cash withdrawal in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.75% / 2.75%
Transaction Charge
1.50% (Min £1.99) / 1.50% (Min £1.99)

Service Performance

The table below shows the provider's current account service performance.
The information shown covers all of their main current accounts, not just specific to this account.
Service Completed
Same day Average 99%
Open a current account* 78% 1 day 10 days
Get a debit card 0% 7 days 7 days
Get internet banking 0% 7 days 9 days
Get an overdraft 100% 0 days 0 days
Replace a lost debit card 0% 4 days 5 days
* Once all requested documents and information have been received.

Overdrafts

Introductory Arranged Overdraft
Introductory Arranged on
Transferred Current Accounts
N/A
N/A
Arranged Overdraft
Unarranged Overdraft

Benefits

Other benefits, as well as those shown, might be available on this account. A full list of benefits will be included in the terms and conditions of the account.
Cashback on debit card purchases
- Eligible for Retailer Offers, customers must be over 16 and use online or mobile banking to qualify. Earn up to 15% cashback from selected retailers when using a Santander debit card.
Exclusive offers with this account
- Free access to preferential rates, exclusive offers and discounts at 123 World.
TSB Logo
TSB Under 19s Account - Age 11-15 FSCS logo
FSCS logo
Overdraft Rate (EAR)
N/A
Interest Rate (AER)
2.50%
Account Fee
N/A
Account Management
Additional Information
High rate of credit interest up to £2,500
Account can only be opened in branch
Switch Service Guarantee member
Representative Example:N/A
General
Credit Interest Rates
Foreign Usage
Service Performance
Overdraft's
Benefits

General Account Details

Funding Required
None
Minimum / Maximum Age
Min 11 Years / Max 15 Years 11 Months
Eligibility
None
Account Fee
None
Introductory Account Fee
None

Facilities

Standing Orders
Switch Service Guarantee
Debit Card
Visa
Withdrawal Limit
£300

Credit Interest Rates

Balance
Gross Rate %
AER %
£1.00 - £2499.99
2.47%
2.50%
£2500.00+
0.10%
0.10%

Foreign Usage Charges

Debit card payment in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.99% / 2.99%
Transaction Charge
£1.00 / £1.00
Cash withdrawal in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.99% / 2.99%
Transaction Charge
1.50% (Min £2.00, max £4.50) / 1.50% (Min £2.00, max £4.50)

Service Performance

The table below shows the provider's current account service performance.
The information shown covers all of their main current accounts, not just specific to this account.
Service Completed
Same day Average 99%
Open a current account* 93% 0 days 9 days
Get a debit card 0% 7 days 7 days
Get internet banking 96% 0 days 4 days
Get an overdraft 25% 3 days 6 days
Replace a lost debit card 0% 7 days 7 days
* Once all requested documents and information have been received.

Overdrafts

Introductory Arranged Overdraft
Introductory Arranged on
Transferred Current Accounts
N/A
N/A
Arranged Overdraft
Unarranged Overdraft
Unarranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
0.00% - Per Month
0.00%
Fee
N/A
Paid Referral Fee
N/A
Grace Period
N/A
Interest Free Overdraft Buffer
N/A
Fee Free Overdraft Buffer
N/A
Monthly Maximum Charge
N/A

Benefits

Some benefits might be available on this account. A full list of benefits will be included in the terms and conditions of the account.
TSB Logo
TSB Under 19s Account - Age 16-19 FSCS logo
FSCS logo
Overdraft Rate (EAR)
N/A
Interest Rate (AER)
2.50%
Account Fee
N/A
Account Management
Additional Information
Discounted AA driving lessons if aged 17
Account can only be opened in branch
Switch Service Guarantee member
Representative Example:N/A
General
Credit Interest Rates
Foreign Usage
Service Performance
Overdraft's
Benefits

General Account Details

Funding Required
None
Minimum / Maximum Age
Min 16 Years / Max Under 19 Years
Eligibility
None
Account Fee
None
Introductory Account Fee
None

Facilities

Direct Debits
Standing Orders
Switch Service Guarantee
Debit Card
Visa
Withdrawal Limit
£300

Credit Interest Rates

Balance
Gross Rate %
AER %
£1.00 - £2499.99
2.47%
2.50%
£2500.00+
0.10%
0.10%

Foreign Usage Charges

Debit card payment in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.99% / 2.99%
Transaction Charge
£1.00 / £1.00
Cash withdrawal in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.99% / 2.99%
Transaction Charge
1.50% (Min £2.00, max £4.50) / 1.50% (Min £2.00, max £4.50)

Service Performance

The table below shows the provider's current account service performance.
The information shown covers all of their main current accounts, not just specific to this account.
Service Completed
Same day Average 99%
Open a current account* 93% 0 days 9 days
Get a debit card 0% 7 days 7 days
Get internet banking 96% 0 days 4 days
Get an overdraft 25% 3 days 6 days
Replace a lost debit card 0% 7 days 7 days
* Once all requested documents and information have been received.

Overdrafts

Introductory Arranged Overdraft
Introductory Arranged on
Transferred Current Accounts
N/A
N/A
Arranged Overdraft
Unarranged Overdraft
Unarranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
0.00% - Per Month
0.00%
Fee
N/A
Paid Referral Fee
N/A
Grace Period
N/A
Interest Free Overdraft Buffer
N/A
Fee Free Overdraft Buffer
N/A
Monthly Maximum Charge
N/A

Benefits

Other benefits, as well as those shown, might be available on this account. A full list of benefits will be included in the terms and conditions of the account.
Driving lessons - preferential deals
- For those aged 17 and over. Discount on AA driving lessons worth £36, a free ‘Pass Your Test’ CD-ROM worth £19.99 and discount on Pass Plus worth £20.
Bank of Scotland Logo
Bank of Scotland Classic - with Vantage FSCS logo
FSCS logo
Overdraft Rate (EAR)
0.00%
Per Day
Interest Rate (AER)
1.50%
Account Fee
N/A
Account Management
Additional Information
Flat rate of credit interest up to £5,000
High daily arranged borrowing charges
Switch Service Guarantee member
Representative Example:Based on an overdraft limit of £500 charged at 0.00% EAR Variable. Overdraft fee of £0.01 per day for each complete £6.00 overdrawn.
General
Credit Interest Rates
Foreign Usage
Service Performance
Overdraft's
Benefits

General Account Details

Funding Required
Regular Funding/Income: Min £1000.00 Per Month (Minimum two direct debit mandates on account per month)
Minimum / Maximum Age
Min 18 Years
Eligibility
None
Account Fee
None
Introductory Account Fee
None

Facilities

Account Sweeping
Cheque Book
Direct Debits
Standing Orders
Tied/Linked Accounts
Switch Service Guarantee
Debit Card
Visa
Withdrawal Limit
£500

Credit Interest Rates

Balance
Gross Rate %
AER %
£1.00 - £5000.00
1.49%
1.50%
£5000.01+
0.00%
0.00%

Foreign Usage Charges

Debit card payment in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.99% Charges levied at time of transaction / 2.99% Charges levied at time of transaction
Transaction Charge
£0.50 / £0.50
Cash withdrawal in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.99% Charges levied at time of transaction / 2.99% Charges levied at time of transaction
Transaction Charge
£1.50 Charges levied at time of transaction / £1.50 Charges levied at time of transaction

Service Performance

The table below shows the provider's current account service performance.
The information shown covers all of their main current accounts, not just specific to this account.
Service Completed
Same day Average 99%
Open a current account* 98% 0 days 2 days
Get a debit card 0% 5 days 6 days
Get internet banking 50% 2 days 5 days
Get an overdraft 100% 0 days 0 days
Replace a lost debit card 0% 3 days 9 days
* Once all requested documents and information have been received.

Overdrafts

Introductory Arranged Overdraft
Introductory Arranged on
Transferred Current Accounts
N/A
N/A
Arranged Overdraft
Arranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
0.00% - Per Day
0.00%
Usage Fee
N/A
Arrangement Fee
N/A
Review Fee
N/A
Grace period
14:30 same day
Interest Free Overdraft Buffer
N/A
Fee Free Overdraft Buffer
N/A
Unarranged Overdraft
Unarranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
0.00% - Per Day
0.00%
Fee
N/A
Paid Referral Fee
N/A
Grace Period
14:30 same day
Interest Free Overdraft Buffer
N/A
Fee Free Overdraft Buffer
N/A
Monthly Maximum Charge
0.00

Benefits

Other benefits, as well as those shown, might be available on this account. A full list of benefits will be included in the terms and conditions of the account.
Cashback on debit card purchases
- Everyday Offers - Earn up to 15% cashback from selected retailers when shopping with a Bank of Scotland credit or debit card. Customers must be registered for Online Banking and hold a Bank of Scotland current account to be eligible.
Cashback on operating account
- Everyday Offers - Earn a one-off cashback amount when take out a Direct Debit subscription with participating retailers. Customers must be registered for Online Banking and hold a Bank of Scotland current account to be eligible.
Exclusive offers with this account
- Free entry into “It’s on Us”, for the chance to have any transaction up to £500 refunded, drawn per month.
Note

Eligible deposits with UK institutions are protected by the Financial Services Compensation Scheme up to a maximum level of protection of £85,000 per person per institution. Our data experts work tirelessly to make sure the rates and information we show are up to date and correct. Moneyfacts.co.uk Limited is an independent credit broker not a lender. We will receive a payment from credit providers where customers link to them from Moneyfacts.co.uk. None of these arrangements affects our independence.

Disclaimer

All overdrafts are subject to the applicant’s status. You may not be offered credit. All rates and fees are subject to change without notice. Please check all rates and terms before borrowing.

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Free, no fee bank accounts

Derin Clark

Derin Clark

Online Reporter
Published: 13/02/2019

At a glance

  • You are not charged a monthly or annual fee to use the basic functions of a free bank account.
  • Some charges might be made to use additional functions such as overdrafts, certain other transactions or where payments are refused.
  • There are some restrictions to opening a free bank account for example you need a good credit rating.

Fee free bank accounts

A free bank account doesn’t charge a monthly or annual fee although you will have to pay to use additional features. The account is normally free of charge to open, but they do sometimes have funding requirements. The basic features of the bank account that you will not be charged for are:

  • Using a debit card to pay for things in store and online
  • Writing cheques
  • Setting up direct debits and standing orders
  • Transferring money using telephone or online banking
  • Paying cheques into your account (as long as they are in sterling)
  • Checking your bank balance
  • Withdrawing money over the counter and at most cash machines.

Additional fees

While these bank accounts are free from monthly and annual fees, there are times when you will be charged. These charges will be included in the account’s terms, which you will be informed of when you open the account. The main additional fees you could be charged for include:

  • Overdraft fees
  • Refused direct debits and standing orders
  • Using your card abroad.
  • Withdrawing money from ‘convenience’ cash machines.

Overdraft fees

When applying for a free bank account, you will also be able to apply for an overdraft. An overdraft is money loaned from the bank that provides you with additional funds for the short term or emergencies. If you go into your account’s overdraft, you will be charged interest, or a flat fee that was outlined in the terms when opening the account. The amount you can borrow in your overdraft depends on how much the bank is willing to lend you and is normally impacted by your credit rating. Most free bank accounts provide the ability to apply to increase, or decrease, your overdraft limit at any time however your application may not be accepted.

Refused Direct Debits and standing orders

If you don’t have enough money in your account at the time a direct debit or standing order is due to go out, and the transaction is rejected, you are likely to be charged a fee. This charge can be as much as £25 for each refused payment but the specific amount will be outlined in your account’s terms.

Using your card aboard

Free bank accounts provide you with the ability to use debit cards abroad, both to withdraw money from cash machines and pay for products and services with the card. Again, banks will often charge a fee (foreign usage fee, along with a cash withdrawal fee if you withdraw money) to use the debit card abroad. If you are planning to use your debit card abroad, check the charges you will have to pay before leaving so that you are not hit with unexpected fees or, alternatively, consider getting a travel card instead which will be free to use abroad.

Withdrawing money

While most cash machines are now free to use some convenience cash machines do charge for withdrawing money – These charges are not related to your bank account but rather fees that the ATM company charges, regardless of the type of account. These charges vary but can be as much as £5 per withdrawal. Often convenience cash machines are located in small shops, garage forecourts and in nightclubs.

Interest rates

Some free bank accounts will pay interest rates on the credit you have in your account. If you often have a lot of money in your account, it would be a good idea to look for an account that offers a good interest rate but remember that the rates provided by a free bank account will be lower than that paid to a high interest rate current account (these accounts normally charge a monthly or annual fee).

Rewards

Some banks now offer a rewards scheme on their free bank accounts. The rewards on offer vary and it is worthwhile to shop around to find the best rewards scheme for your individual needs.

Who can apply for a free bank account?

Free bank accounts have a minimum age of 16, or even 18 on some accounts. In order to apply for a free bank account, you will need proof of ID and proof of address. As well as this, you should be aware that banks will run a credit check, so a good credit history is required. Some free bank accounts also require you to make a minimum monthly payment into the account.

How to apply for a free bank account

You can apply for a free bank account in person at your local bank, by post or online depending on the provider. As we said before, a credit check will be carried out when applying for the account so there is no certainty that your application will be accepted.

 

Pros and cons of fee free bank accounts

  • A free and convenient way to manage your money on a day-to-day basis.
  • Flexible in an emergency – subject to your bank agreeing to give you credit, you may be able to access an overdraft. Interest rates may be paid when your account is in credit.
  • Rewards schemes could benefit you when using your card.
  • Additional fees may apply for using functions such as overdrafts.
  • You might be required to make a minimum monthly payment or monthly salary into the account.
  • Your application could be rejected if you have a bad credit history or cannot meet the requirements of the account.

Moneyfacts tip

Moneyfacts tip Derin Clark

If you have a bad credit rating or no credit history you can apply for a basic or guaranteed account which are aimed at those with a poor credit score.

girl smiling with sunglasses on

At a glance

  • You are not charged a monthly or annual fee to use the basic functions of a free bank account.
  • Some charges might be made to use additional functions such as overdrafts, certain other transactions or where payments are refused.
  • There are some restrictions to opening a free bank account for example you need a good credit rating.

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