Online Bank Accounts | moneyfacts.co.uk

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What is an online bank account? 

Gone are the days when you need to go to a branch to conduct your day-to-day banking activities. Now, everything can be done online – and increasingly, via your phone – making money management quicker and easier than ever before. This can include transferring money between accounts, paying bills, checking bank statements, setting up automatic payments and even applying for new products.

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:

first direct Logo
first direct 1st Account FSCS logo
FSCS logo
Overdraft Rate (EAR)
39.90%
Interest Rate (AER)
0.00%
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
No account fee
No interest paid on credit balances
Switch Service Guarantee member
Go To Provider's Site
Representative Example:Based on an overdraft limit of £1200. Up to £250.00 charged at 0.00% EAR Variable. Over £250.00 charged at 39.90% EAR Variable. Representative 30.5% 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
Switch Service Guarantee
Debit Card
Mastercard
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
2.00% (Min £1.75, max £5.00) / 2.00% (Min £1.75, max £5.00)

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* 0% 5 days 31 days
Get a debit card 0% 6 days 6 days
Get internet banking 0% 0 days 10 days
Get an overdraft 99% 0 days 0 days
Replace a lost debit card 0% 3 days 6 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 %
£250.01
2.84% - Per Month
39.90%
£0.01
0.00% - Per Month
0.00%
Grace period
23:45 same day
Unarranged Overdraft
Unarranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
2.84% - Per Month
39.90%
Refused Payment Fee
£0.00
Grace Period
23:45 same day
Monthly Maximum Charge
20.00
Range of annual interest rates payable for overdraft
Arranged Unarranged Refused payment fee
34.05%
34.05%
£0.00
Data as of: 30 September 2021
Overdraft Pricing in the previous calendar quarter
Range of Advertised APRs during the period
30.5%
Cost of holding a £500 overdraft
For 7 days
For 30 days
For 60 days
£1.63
£7.00
£13.99

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 switching account
- £100 for accounts switched using Current Account Switching Service and at least £1K credited within 3 months.
HSBC Logo
HSBC Advance FSCS logo
FSCS logo
Overdraft Rate (EAR)
39.90%
Interest Rate (AER)
0.00%
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
Free emergency cash service available
No credit interest payable
Switch Service Guarantee member
Go To Provider's Site
Representative Example:Based on an overdraft limit of £1200. Up to £25.00 charged at 0.00% EAR Variable. Over £25.00 charged at 39.90% EAR Variable. Representative 38.9% 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

Cheque Book
Direct Debits
Standing Orders
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
2.00% (Min £1.75, max £5.00) / 2.00% (Min £1.75, max £5.00)

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* 21% 1 day 23 days
Get a debit card 0% 6 days 16 days
Get internet banking 0% 5 days 7 days
Get an overdraft 99% 0 days 0 days
Replace a lost debit card 0% 3 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
Arranged Overdraft Available
Min. Balance
Rate %
EAR %
£25.01
2.84% - Per Month
39.90%
£0.01
0.00% - Per Month
0.00%
Grace period
23:45 same day
Unarranged Overdraft
Unarranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
2.84% - Per Month
39.90%
Refused Payment Fee
£0.00
Grace Period
23:45 same day
Monthly Maximum Charge
20.00
Range of annual interest rates payable for overdraft
Arranged Unarranged Refused payment fee
34.05%
34.05%
£0.00
Data as of: 30 September 2021
Overdraft Pricing in the previous calendar quarter
Range of Advertised APRs during the period
38.9%
Cost of holding a £500 overdraft
For 7 days
For 30 days
For 60 days
£3.10
£13.29
£26.59

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.
Emergency Cash Service
- Free Emergency Cash Service to withdraw up to USD 10,000 from any HSBC branch worldwide.
Savings - preferential terms
- Eligible for Regular Saver product.
NatWest Logo
NatWest Select Account FSCS logo
FSCS logo
Overdraft Rate (EAR)
39.49%
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 required
No interest paid on credit balances
Switch Service Guarantee member
Go To Provider's Site
Representative Example:Based on an overdraft limit of £1200 charged at 39.49% EAR Variable. Representative 39.5% 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
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
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* 0% 1 day 1 day
Get a debit card 0% 3 days 5 days
Get internet banking 0% 8 days 8 days
Get an overdraft 100% 0 days 0 days
Replace a lost debit card 0% 3 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
Arranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
2.81% - Per Month
39.49%
Grace period
14:30 same day
Unarranged Overdraft
Unarranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
2.81% - Per Month
39.49%
Refused Payment Fee
Up to £2.15
Grace Period
14:30 same day
Monthly Maximum Charge
19.40
Range of annual interest rates payable for overdraft
Arranged Unarranged Refused payment fee
39.49%
39.49%
£2.15
Data as of: 30 September 2021
Overdraft Pricing in the previous calendar quarter
Range of Advertised APRs during the period
39.5%
Cost of holding a £500 overdraft
For 7 days
For 30 days
For 60 days
£3.24
£13.87
£28.13

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 switching account
- £100 for accounts switched using the Current Account Switch Service by 2.12.21. Previous account must be closed. Must credit £1.5K and log into online or mobile banking. An additional £50 will be paid when at least 10 eligible transactions are made each month between 1.1.22 and 30.9.22.
Emergency Cash Service
- Free 24/7 Emergency Cash Service to withdraw up to £300 for online and telephone banking customers or £60 if not.
NatWest Logo
NatWest Reward FSCS logo
FSCS logo
Overdraft Rate (EAR)
39.49%
Interest Rate (AER)
0.00%
Account Fee
£2.00 pm
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
Earn Rewards on direct debits and purchases and selected retailers
£2pm account fee
Switch Service Guarantee member
Go To Provider's Site
Representative Example:Based on an overdraft limit of £1200 charged at 39.49% EAR Variable. Representative 39.5% APR variable.
General
Credit Interest Rates
Foreign Usage
Service Performance
Overdrafts
Benefits

General Account Details

Funding Required
Regular Funding/Income: Min £1250.00 Per Month
Minimum / Maximum Age
Min 18 Years
Eligibility
None
Account Fee
£2.00 Per Month
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
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* 0% 1 day 1 day
Get a debit card 0% 3 days 5 days
Get internet banking 0% 8 days 8 days
Get an overdraft 100% 0 days 0 days
Replace a lost debit card 0% 3 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
Arranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
2.81% - Per Month
39.49%
Grace period
14:30 same day
Unarranged Overdraft
Unarranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
2.81% - Per Month
39.49%
Refused Payment Fee
Up to £2.15
Grace Period
14:30 same day
Monthly Maximum Charge
19.40
Range of annual interest rates payable for overdraft
Arranged Unarranged Refused payment fee
39.49%
39.49%
£2.15
Data as of: 30 September 2021
Overdraft Pricing in the previous calendar quarter
Range of Advertised APRs during the period
39.5%
Cost of holding a £500 overdraft
For 7 days
For 30 days
For 60 days
£3.24
£13.87
£28.13

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 switching account
- £100 for accounts switched using the Current Account Switch Service by 2.12.21. Previous account must be closed. Must credit £1.5K and log into online or mobile banking. An additional £50 will be paid when at least 10 eligible transactions are made each month between 1.1.22 and 30.9.22.
Exclusive offers with this account
- Earn 4 Rewards per month by making at a minimum of 2 direct debit payments of at least £2 each. Earn an additional 1 Reward by logging into mobile banking app every month. Once 5 Rewards are available they can be exchanged for a £5 current account credit, traded up for Reward vouchers at selected retailers or donated to a participating charity.
Exclusive offers with this account
- Earn at least 1% Rewards on qualifying purchases at selected retailers which can be converted to cashback, trade up vouchers or donated to charity.
Credit cards - preferential terms
- Existing Reward, Reward Premier, Reward Silver or Reward Platinum customers taking out a Reward Credit Card will receive an annual fee refund on the credit card (£24), for each year they hold both products.
Emergency Cash Service
- Free 24/7 Emergency Cash Service to withdraw up to £300 for online and telephone banking customers or £60 if not.
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 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* 61% 3 days 19 days
Get a debit card 0% 7 days 7 days
Get internet banking 76% 0 days 4 days
Get an overdraft 68% 3 days 5 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 and discount on Pass Plus worth £20.
Virgin Money Logo
Virgin Money M Plus Account 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
Switch using CASS to receive a £150 Virgin Experience Days Gift Card
Must open linked savings account
Switch Service Guarantee Member
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* 83% 1 day 18 days
Get a debit card 0% 4 days 7 days
Get internet banking 100% 0 days 0 days
Get an overdraft 0% 5 days 12 days
Replace a lost debit card 0% 4 days 6 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
Range of annual interest rates payable for overdraft
Arranged Unarranged Refused payment fee
18.29%-34.05%
18.29%-34.05%
£4.00
Data as of: 30 September 2021
Overdraft Pricing in the previous calendar quarter
Range of Advertised APRs during the period
19.9%-39.9%
Cost of holding a £500 overdraft
For 7 days
For 30 days
For 60 days
£1.75
£7.51
£15.13

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.
Account switching incentive (other than cash)
- Apply online from the Virgin Red app or website and complete a full current account switch using the Current Account Switch Service to receive 15,000 points. Customers must set up two direct debits, register for the mobile app, deposit at least £1K into a linked savings account within 45 days of account opening and close the original account.
Account switching incentive (other than cash)
- Switch using the Current Account Switch Service to receive a £150 Virgin Experience Days Gift Card or a free luxury 12-bottle case of wine from Virgin Wines, worth £150. Customers must set up two direct debits, register for the mobile app, deposit at least £1K into a linked savings account within 45 days of account opening and close the original account.
Rewards website exclusive to account holders
- Virgin Red: Join today and receive a 500 points bonus the first time you earn. Earn and spend points when shopping at Virgin brands and major high street retailers.
Savings - preferential terms
- Comes with linked M Plus Saver Account.
Virgin Money Logo
Virgin Money Club M Account FSCS logo
FSCS logo
Overdraft Rate (EAR)
19.90%
Interest Rate (AER)
2.02%
Account Fee
£14.50 pm
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
2.02% AER credit interest on balances up to £1K
£14.50 monthly fee payable
Switch Service Guarantee Member
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
£14.50 Per Month
Introductory Account Fee
None

Facilities

Account Sweeping
Cheque Book
Direct Debits
Offset Option
Packaged Account
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* 83% 1 day 18 days
Get a debit card 0% 4 days 7 days
Get internet banking 100% 0 days 0 days
Get an overdraft 0% 5 days 12 days
Replace a lost debit card 0% 4 days 6 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
Range of annual interest rates payable for overdraft
Arranged Unarranged Refused payment fee
18.29%-34.05%
18.29%-34.05%
£4.00
Data as of: 30 September 2021
Overdraft Pricing in the previous calendar quarter
Range of Advertised APRs during the period
19.9%-39.9%
Cost of holding a £500 overdraft
For 7 days
For 30 days
For 60 days
£1.75
£7.51
£15.13

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.
Account switching incentive (other than cash)
- Apply online from the Virgin Red app or website and complete a full current account switch using the Current Account Switch Service to receive 15,000 points. Customers must set up two direct debits, register for the mobile app, deposit at least £1K into a linked savings account within 45 days of account opening and close the original account
Account switching incentive (other than cash)
- Switch using the Current Account Switch Service to receive a £150 Virgin Experience Days Gift Card or a free luxury 12-bottle case of wine from Virgin Wines, worth £150. Customers must set up two direct debits, register for the mobile app, deposit at least £1K into a linked savings account within 45 days of account opening and close the original account.
Gadgets or accessory insurance
- Yes - Free worldwide cover for account holder and family. Includes gadgets against theft, accidental and malicious damage, accidental loss (limited) and electrical or mechanical breakdown up to an original retail value of £2K and under 5 years old at point of claim. Also covers accessories, involved in the incident, up to £250 per claim. 2 claims per 12 months. Excess up to £50.
Mobile phone insurance
- Yes - Free worldwide cover for mobile phones against theft, accidental and malicious damage, loss and electrical or mechanical breakdown up to £2K including VAT. One phone per account holder. Also covers accessories, involved in the incident, up to £250 per claim. Unauthorised charges cover - up to a maximum of £1,200 per claim for a contract phone or £100 for pay as you go. 2 claims per 12 months. Excess £75.
Savings - preferential terms
- Comes with linked Club M Saver Account.
Vehicle breakdown cover
- Free Green Flag Comprehensive Breakdown Cover including Roadside, Recovery, At Home and Onward Travel.
Worldwide insurance
- Yes - Free. Covers account holder, partner and up to 4 dependent children aged under 18. Max cover age 74 years old. Available on trips up to 31 days. Includes winter sports (limit 17 days), golf and wedding cover, can be upgraded to include business cover for an additional premium. Provides cancellation, delay, baggage and natural catastrophe travel cancellation and expenses cover. Talking Nurses - a telephone based service also available.
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
Switch incentive of £125 for existing holders, £100 for new when switching two active direct debits using CASS
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* 96% 0 days 4 days
Get a debit card 0% 8 days 12 days
Get internet banking 0% 9 days 14 days
Get an overdraft 0% 8 days 12 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
Range of annual interest rates payable for overdraft
Arranged Unarranged Refused payment fee
39.90%
0.00%
£0.00
Data as of: 30 June 2021
Overdraft Pricing in the previous calendar quarter
Range of Advertised APRs during the period
39.9%
Cost of holding a £500 overdraft
For 7 days
For 30 days
For 60 days
£3.26
£13.99
£28.27

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 switching account
- £100 for new accounts and £125 for existing account holders when a minimum of two active Direct Debits are switched using the Current Account Switching Service within 30 days of account opening.
Credit cards - preferential terms
- Eligible for Member Credit Card.
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* 70% 1 day 9 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
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.
NatWest Logo
NatWest Adapt Current Account FSCS logo
FSCS logo
Overdraft Rate (EAR)
N/A
Interest Rate (AER)
1.00%
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
Credit interest payable
No direct debits or standing orders allowed
Account for ages 11-18
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 18 Years
Eligibility
None
Account Fee
None
Introductory Account Fee
None

Facilities

Debit Card
Visa
Withdrawal Limit
£250

Credit Interest Rates

Balance
Gross Rate %
AER %
£0.01+
1.00%
1.00%

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* 0% 1 day 1 day
Get a debit card 0% 3 days 5 days
Get internet banking 0% 8 days 8 days
Get an overdraft 100% 0 days 0 days
Replace a lost debit card 0% 3 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
Unarranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
0.00% - Per Month
0.00%
Refused Payment Fee
Grace Period
N/A
Monthly Maximum Charge

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.
Note

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.

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.

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.

Quick Links

Quick links are where we have an arrangement with a provider so you can move directly from our site to theirs to view more information and apply for a product. We also use quick links where we have an arrangement with a preferred broker to move you directly to their site. Depending on the arrangement we may receive a modest commission either when you press a 'Go to Provider' or 'Speak to a Broker' button, when you call an advertised number or when you complete an application.

Online and digital bank accounts explained

Derin Clark

Derin Clark

Online Reporter

At a glance

  • Online bank accounts are sometimes offered exclusively online only - however more and more bank accounts come with online access.
  • Online bank accounts can be accessed either through your desktop or mobile device and increasingly come with Apps.
  • Online banking can be a convenient way to manage your money.
  • Always make sure to protect your online banking details.

What is online and app based banking?

Online banking means accessing your bank accounts online, be it via a desktop computer, tablet, phone or any other internet-connected device. Many banks now have dedicated smartphone apps for even better accessibility, allowing you to truly bank on the go.

Typically, customers will be able to undertake a variety of day-to-day banking activities through internet banking services or apps , without needing to go to a branch or speak to someone in person. This can include transferring money between accounts, paying bills, checking bank statements or setting up automatic payments (such as direct debits or standing orders), and even applying for new products.

How to keep your online banking secure

Banks and building societies are fully regulated by the FCA and Prudential Regulation Authority and have worked hard to make their online banking facilities as secure as possible. Websites are encrypted and you’ll likely need to go through several authentication steps before you can log on, with passwords and secure keys being commonplace, while some smartphone apps use fingerprint or even facial recognition software for added security.

That said, there are still a few things you need to watch out for to ensure your internet banking experience is as secure as possible:

  • When using public computers, never check the box to ‘remember your details’.
  • Be vigilant against phishing scams. Never respond to emails that ask for online banking passwords or personal details, even if they claim to be from your bank; this extends to text messages and phone calls, too. Your bank will only ever ask you for two or three digits of your password if they need to confirm your identity – never give anyone the whole thing.
  • If you’re banking on your phone, only ever use secure Wi-Fi connections or the 3G or 4G connection through your mobile provider. Never use public Wi-Fi for any banking activity as these often aren’t secure.
  • Most online banking facilities will automatically log out after a period of inactivity, but always log out manually, especially if you’re using a public computer.
  • Make sure your anti-spyware and anti-virus software are up to date.

How to choose the best internet bank account

When you open an online bank account in the UK, whether you’re after single or joint accounts, you want to make sure you’re getting the best one for your needs. This will likely depend on a range of important factors, such as overdraft facilities and whether or not the account offers in-credit interest, but another consideration will invariably be its online banking facilities.

These days, the vast majority (if not all) bank accounts offer some form of online banking, but not all are created equal. This is particularly true when it comes to banking apps, and is why research is key. Start the process by comparing online bank accounts using the above chart, and once you’ve found one with the features you need, do a bit of extra research into your potential account’s banking facilities (such as searching for reviews of banking apps). Then, click on the relevant “Go to Site” button that will take you directly to the account in question, letting you quickly and easily apply for a bank account online.

Can I get internet banking on an existing account?

Most likely, yes! Most current accounts offer some form of online banking; if you haven’t signed up with your provider yet, make sure to contact them to find out what to do next.

Can I use internet banking abroad?

Generally speaking, yes – as long as you’ve got an internet connection, you’ll be able to access your bank account online. Though you’ll arguably need to keep security and potential costs in mind, even more so than when you’re in the UK: don’t use your hotel’s public wifi and instead use your phone’s internet connection, but only if you’re in the EU and therefore won’t be faced with extra roaming charges.

Can I use internet banking on my phone or tablet?

Yes – provided you’ve got an internet connection, you can bank online. Most providers these days offer a banking app, too, so head to your phone’s app store to find it, or go to your provider’s website and follow the official links.

Can I open a bank account online in the UK?

Yes, though some providers will still require you to go to a branch with identity details to complete your application. For others, the whole process is completed online, and if you’re switching accounts you can use the Current Account Switch Service (provided your old and new banks are signed up to the scheme – most of them are) for added ease.

What is a digital-only bank?

A digital-only bank offers all its banking services online and through apps on mobiles.  Account support is provided through in-app and online chat with some digital banks also offering call centre support. Digital-only banks do not have physical branches.

Is my money safe with a digital-only bank?

As long as your digital-only bank has a UK banking licence and displays the Financial Services Compensation Scheme (FSCS) logo any deposits, including savings accounts and funds held in current accounts, should be covered up to £85,000 in the event the bank goes bust.

Why are there more digital only banks now?

In the early 2010s, the explosion of digital tech combined with the launch of the Financial Conduct Authority’s (FCA) New Bank Start-Up Unit in 2013 made good ground for the launch of new digital only banks. In 2018, further regulation called PSD2 was introduced with the aim of increasing competition through more finance and banking apps. Then there’s the fact that demand for digital-only banks is increasing, as more millennials seek mobile-friendly financial products.

What are digital banking apps?

Digital banking apps (or mobile banking apps as they can also be called) allow you to conduct your everyday needs for banking, borrowing and saving via the app. They are accessed on a mobile device and allow you to see your account balances, make payments, transfer funds and apply for new financial products all in one place. Some digital banking apps also include features such as spending analysis, budgeting tools and automated updates on your transactions as they occur in real-time, and others even let you pay in cheques. If you want an app to specifically focus on your savings, read our guide on the best savings apps to see where might be best to start.

Are digital banking apps safe?

Regulated banks and their digital apps will all do everything possible to make their apps secure. This includes familiar features such as security passwords and pins, but also newer technologies such as facial, speech and fingerprint recognition. This is captured during the set-up of your digital app using your mobile’s camera – simply put you are taking a selfie. If your mobile has Touch ID or Fingerprint scan, then this can also be used to securely verify you against the banking data held on your mobile.  You will also be asked to take picture of your photo ID.

A lot of digital banking apps will notify you almost immediately after you have made a payment. This means you can quickly spot a fraudulent transaction.

If you forget your pin and passcode, then it is likely you can reset these by taking a new video of yourself. This is analysed immediately to your original set-up video to confirm your identity.

And, exactly like a traditional bank, using your common sense is essential, so don’t share your passcodes or leave these written down and be careful people do not see your login information. You can read more in our guide Seven rules to keep online banking safe.

What happens if I need help with my digital banking app?

The digital-only banks offer either a 24/7 call centre or in-app chat to help you in case you have difficulties with your account, so you won’t be left alone. The only difference is that you won’t be able to seek help face-to-face, which a lot of people are turning away from anyway, particularly in the current climate.

Can I get a digital bank account if I’ve got bad credit?

If you have bad credit there are digital providers that can offer bank services. Find out more about bank accounts for bad credit.

What is Open Banking?

You may have heard a lot about Open Banking recently. Open Banking and online banking are slightly different, though similar in many ways: Open Banking still allows you to bank online or on your phone, but rather than having different apps for different accounts, all of your financial information can be included in one place, if you choose to share that information between providers. You can find more about it here.

Sending money abroad

Find out how to send money abroad easily, securely and quickly using an international money transfer specialist. Our guide explains how it works and the costs involved.

Compare online bank accounts

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