Free Bank Accounts - No Monthly Fee | moneyfacts.co.uk

Fee free bank accounts explained

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. 

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:

Starling Bank Logo
Starling Bank Current Account - Age 18 and over FSCS logo
FSCS logo
Overdraft Rate (EAR)
15.00%
Interest Rate (AER)
0.05%
Account Fee
N/A
Account Management
Not Available At Branch Available By Mail Available At Post Office Available By Telephone Not Available Online Available By Mobile Text Alerts Available
Additional Information
Credit interest payable on balances up to £85K
No branches
Switch Service Guarantee member
Go To Provider's Site
Representative Example:Based on an overdraft limit of £1200 charged at 15.00% EAR Variable. Representative 15.0% APR variable.
General
Credit Interest Rates
Foreign Usage
Service Performance
Overdrafts
Benefits

General Account Details

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

Facilities

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

Credit Interest Rates

Balance
Gross Rate %
AER %
£0.01 - £85000.00
0.05%
0.05%
£85000.01+
0.00%
0.00%

Foreign Usage Charges

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

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% 1 day 1 day
Get a debit card 0% 3 days 4 days
Get internet banking - - -
Get an overdraft 100% 1 day 1 day
Replace a lost debit card 0% 3 days 4 days
* Once all requested documents and information have been received.

Overdrafts

Introductory Arranged Overdraft
Introductory Arranged on
Switched Current Accounts
N/A
N/A
Arranged Overdraft
Arranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
1.17% - Per Month
15.00%
Grace period
23:59 same day
Unarranged Overdraft
Unarranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
0.00% - Per Month
0.00%
Refused Payment Fee
£0.00
Grace Period
23:59 same day
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.
Barclays Bank Logo
Barclays Bank Bank Account FSCS logo
FSCS logo
Overdraft Rate (EAR)
35.00%
Interest Rate (AER)
0.00%
Account Fee
N/A
Account Management
Available At Branch Available By Mail Available At Post Office Available By Telephone Available Online Available By Mobile Text Alerts Available
Additional Information
No minimum funding needed
No credit interest paid
Overdrafts are subject to application, financial circumstances & borrowing history
Go To Provider's Site
Representative Example:Based on an overdraft limit of £1200. Up to £15.00 charged at 0.00% EAR Variable. Over £15.00 charged at 35.00% EAR Variable. Representative 35.0% APR variable.
General
Credit Interest Rates
Foreign Usage
Service Performance
Overdrafts
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
Tied/Linked Accounts
Switch Service Guarantee
Debit Card
Visa
Withdrawal Limit
£300

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
£0.00 / £0.00

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* 87% 0 days 7 days
Get a debit card 0% 4 days 8 days
Get internet banking 0% 4 days 6 days
Get an overdraft 37% 9 days 53 days
Replace a lost debit card 0% 2 days 5 days
* Once all requested documents and information have been received.

Overdrafts

Introductory Arranged Overdraft
Introductory Arranged on
Switched Current Accounts
N/A
0.00% for 3 months
Arranged Overdraft
Arranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
0.00% - Per Month
0.00%
£15.01
2.53% - Per Month
35.00%
Grace period
15:00 same day
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.
Exclusive offers with this account
- Free personalised debit card. You can upload own pictures or choose from extensive online gallery.
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
Available At Branch Not Available By Mail Available At Post Office Not Available By Telephone Available Online Available By Mobile Text Alerts Available
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
Overdrafts
Benefits

General Account Details

Funding Required
None
Minimum / Maximum Age
Min 11 Years / Max Under 16 Years
Eligibility
None
Account Fee
None
Introductory Account Fee
None

Facilities

Standing Orders
Switch Service Guarantee
Debit Card
Visa
Withdrawal Limit
£500

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
No min, max £1.00 (Lower fee for withdrawals made within the EEA) / £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). 0.00% / 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* 92% 0 days 11 days
Get a debit card 0% 7 days 7 days
Get internet banking 93% 0 days 4 days
Get an overdraft 10% 3 days 7 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
Switched 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%
Refused Payment Fee
£0.00
Grace Period
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
Available At Branch Not Available By Mail Available At Post Office Not Available By Telephone Available Online Available By Mobile Text Alerts Available
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
Overdrafts
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

Account Sweeping
Direct Debits
Standing Orders
Switch Service Guarantee
Debit Card
Visa
Withdrawal Limit
£500

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
No min, max £1.00 (Lower fee for withdrawals made within the EEA) / £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). 0.00% / 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* 92% 0 days 11 days
Get a debit card 0% 7 days 7 days
Get internet banking 93% 0 days 4 days
Get an overdraft 10% 3 days 7 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
Switched 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%
Refused Payment Fee
£0.00
Grace Period
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.
Virgin Money Logo
Virgin Money Virgin Money Current Account - Age 16-17 FSCS logo
FSCS logo
Overdraft Rate (EAR)
N/A
Interest Rate (AER)
2.02%
Account Fee
N/A
Account Management
Available At Branch Available By Mail Available At Post Office Available By Telephone Available Online Available By Mobile Text Alerts Available
Additional Information
Credit interest payable up to £1,000
Age 16-17 cannot apply online
Also available via Clydesdale Bank and Yorkshire Bank
Representative Example:N/A
General
Credit Interest Rates
Foreign Usage
Service Performance
Overdrafts
Benefits

General Account Details

Funding Required
None
Minimum / Maximum Age
Min 16 Years / Max Under 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
Mastercard
Withdrawal Limit
£350

Credit Interest Rates

Balance
Gross Rate %
AER %
£0.01 - £1000.00
2.00%
2.02%
£1000.01+
0.00%
0.00%

Foreign Usage Charges

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

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* 77% 1 day 16 days
Get a debit card 0% 4 days 6 days
Get internet banking 100% 0 days 0 days
Get an overdraft 0% 5 days 7 days
Replace a lost debit card 0% 4 days 8 days
* Once all requested documents and information have been received.

Overdrafts

Introductory Arranged Overdraft
Introductory Arranged on
Switched 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.
Savings - preferential terms
- Eligible for linked Virgin Money Instant Savings Account.
Virgin Money Logo
Virgin Money Virgin Money Current Account - Age 18 and over FSCS logo
FSCS logo
Overdraft Rate (EAR)
19.90%
Interest Rate (AER)
2.02%
Account Fee
N/A
Account Management
Available At Branch Available By Mail Available At Post Office Available By Telephone Available Online Available By Mobile Text Alerts Available
Additional Information
Credit interest payable up to £1,000
Must open linked savings account
Also available via Clydesdale Bank and Yorkshire Bank
Representative Example:Based on an overdraft limit of £1200 charged at 19.90% EAR Variable. Representative 19.9% APR variable.
General
Credit Interest Rates
Foreign Usage
Service Performance
Overdrafts
Benefits

General Account Details

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

Facilities

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

Credit Interest Rates

Balance
Gross Rate %
AER %
£0.01 - £1000.00
2.00%
2.02%
£1000.01+
0.00%
0.00%

Foreign Usage Charges

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

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* 77% 1 day 16 days
Get a debit card 0% 4 days 6 days
Get internet banking 100% 0 days 0 days
Get an overdraft 0% 5 days 7 days
Replace a lost debit card 0% 4 days 8 days
* Once all requested documents and information have been received.

Overdrafts

Introductory Arranged Overdraft
Introductory Arranged on
Switched Current Accounts
N/A
N/A
Arranged Overdraft
Arranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
1.52% - Per Month
19.90%
Grace period
15:00 same day
Unarranged Overdraft
Unarranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
1.52% - Per Month
19.90%
Refused Payment Fee
Up to £4.00
Grace Period
15:00 same day
Monthly Maximum Charge
40.00

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.
Savings - preferential terms
- Eligible for linked Virgin Money Instant Savings Account.
Santander Logo
Santander 123 Mini Current Account FSCS logo
FSCS logo
Overdraft Rate (EAR)
N/A
Interest Rate (AER)
2.00%
Account Fee
N/A
Account Management
Available At Branch Not Available By Mail Available At Post Office Available By Telephone Available Online Available By Mobile Text Alerts Available
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
Overdrafts
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 %
£1.00 - £999.99
1.00%
1.00%
£1000.00 - £1499.99
1.98%
2.00%
£1500.00 - £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
2.95% / 2.95%
Transaction Charge
£0.00 / £0.00
Cash withdrawal in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.95% / 2.95%
Transaction Charge
£0.00 / £0.00

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* 74% 1 day 9 days
Get a debit card 0% 7 days 7 days
Get internet banking 0% 7 days 9 days
Get an overdraft 99% 0 days 5 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
Switched 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.
Nationwide BS Logo
Nationwide BS FlexDirect - Funded FSCS logo
FSCS logo
Overdraft Rate (EAR)
39.90%
Interest Rate (AER)
2.00%
Account Fee
N/A
Account Management
Not Available At Branch Available By Mail Available At Post Office Not Available By Telephone Available Online Available By Mobile Text Alerts Available
Additional Information
2% AER credit interest on balances up to £1.5K for first 12 months
At least £1,000 must be paid in per month
Switch Service Guarantee member
Representative Example:Based on an overdraft limit of £1200 charged at 39.90% EAR Variable. Representative 39.9% APR variable.
General
Credit Interest Rates
Foreign Usage
Service Performance
Overdrafts
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 - £1500.00
1.98%
2.00%
£1500.01+
0.00%
0.00%

Foreign Usage Charges

Debit card payment in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.99% / 2.99%
Transaction Charge
£0.00 / £0.00
Cash withdrawal in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.99% / 2.99%
Transaction Charge
£0.00 / £0.00

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% 8 days 12 days
Get internet banking 0% 8 days 13 days
Get an overdraft 0% 3 days 6 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
Switched Current Accounts
0.00% for 12 months
N/A
Arranged Overdraft
Arranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
2.84% - Per Month
39.90%
Grace period
14:30 same day
Unarranged Overdraft
Unarranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
0.00% - Per Month
0.00%
Refused Payment Fee
£0.00
Grace Period
14:30 same day
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.
Credit cards - preferential terms
- Eligible for Member Credit Card.
Loans - preferential terms
- Discounted rates on loans.
Savings - preferential terms
- Eligible for Flexclusive accounts.
TSB Logo
TSB Classic Plus - Funded FSCS logo
FSCS logo
Overdraft Rate (EAR)
39.90%
Interest Rate (AER)
1.50%
Account Fee
N/A
Account Management
Available At Branch Not Available By Mail Available At Post Office Available By Telephone Available Online Available By Mobile Text Alerts Available
Additional Information
Credit interest payable on balances up to £1.5K when account is registered for online banking, paperless statements & correspondence
Switch Service Guarantee member
No arranged or unarranged interest free amount
Representative Example:Based on an overdraft limit of £1200 charged at 39.90% EAR Variable. Representative 39.9% APR variable.
General
Credit Interest Rates
Foreign Usage
Service Performance
Overdrafts
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

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 - £1500.00
1.49%
1.50%
£1500.01+
0.00%
0.00%

Foreign Usage Charges

Debit card payment in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.99% / 2.99%
Transaction Charge
No min, max £1.00 (Lower fee for withdrawals made within the EEA) / £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). 0.00% (Fee for payments in Euros within the EEA) / 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* 92% 0 days 11 days
Get a debit card 0% 7 days 7 days
Get internet banking 93% 0 days 4 days
Get an overdraft 10% 3 days 7 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
Switched Current Accounts
N/A
0.00% for 3 months
Arranged Overdraft
Arranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
2.84% - Per Month
39.90%
Grace period
22:00 same day
Unarranged Overdraft
Unarranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
2.84% - Per Month
39.90%
Refused Payment Fee
Up to £3.00
Grace Period
22:00 same day
Monthly Maximum Charge
30.00

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.
Mortgages - preferential terms
- £150 cashback on completion for remortgage applications when account funded with at least £500 per month.
Barclays Bank Logo
Barclays Bank BarclayPlus FSCS logo
FSCS logo
Overdraft Rate (EAR)
N/A
Interest Rate (AER)
1.10%
Account Fee
N/A
Account Management
Available At Branch Not Available By Mail Not Available At Post Office Available By Telephone Not Available Online Available By Mobile Text Alerts Available
Additional Information
No minimum monthly funding required
No direct debits or standing orders
Account for ages 11 to 15
Representative Example:N/A
General
Credit Interest Rates
Foreign Usage
Service Performance
Overdrafts
Benefits

General Account Details

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

Facilities

Debit Card
Visa
Withdrawal Limit
£300

Credit Interest Rates

Balance
Gross Rate %
AER %
£1.00 - £999.99
0.60%
0.60%
£1000.00+
1.10%
1.10%

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
£0.00 / £0.00

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* 87% 0 days 7 days
Get a debit card 0% 4 days 8 days
Get internet banking 0% 4 days 6 days
Get an overdraft 37% 9 days 53 days
Replace a lost debit card 0% 2 days 5 days
* Once all requested documents and information have been received.

Overdrafts

Introductory Arranged Overdraft
Introductory Arranged on
Switched 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.
Exclusive offers with this account
- Free personalised debit card. You can upload own pictures or choose from extensive online gallery.
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

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 account features

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

Overdraft charges

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 which 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 may be paid when your account is in credit.
  • Rewards schemes could benefit you when using your card.
  • Additional charges 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.

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