List of UK banks with free current accounts

With a fee-free current account, it’s not just easy to manage your day-to-day personal finances – but free to do so! If you’re wondering which banks offer free current accounts, this article is for you. We’ll compare the best UK banks offering current accounts at no extra cost, and help you find the best account for your everyday spending.

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What is a current account?

A current account is a bank account designed to help manage your daily finances and spending. When you open a current account, you’ll typically receive a debit card for paying for items and withdrawing cash from an ATM.

With a current account, you can:

• Receive your salary, pension and other payments
• Pay your bills
• Pay for items with your debit card
• Withdraw cash from an ATM
• Set up standing orders or direct debits

Many current accounts offer digital banking through telephone, online and mobile services. This makes it easy to check your balance, see your recent transactions and even transfer funds without needing to visit a branch.

With some current accounts, you can apply for an arranged overdraft to cover unexpected expenses. Others also offer cashback on spending or interest on your balance.

📚Best current accounts with interest

Are current accounts free?

Yes, most current accounts are free to open or come without monthly charges. However, if you exceed your overdraft limit or carry out a chargeable transaction like an overseas payment, you may be charged.

If you’re looking for a personal account that’s free to open for international spending, Wise could be a great fit. With a Wise multi-currency account, you can spend money in 40+ currencies and enjoy low and always transparent conversion fees* at the mid-market rate. There’s no monthly subscription fees either.

Banks in the UK with free current accounts: Quick overview

Many banks in the UK offer free current accounts to manage your daily spending. You can compare some of these accounts in the table below, including the benefits of opening a fee-free current account with each banking provider.

List of UK banks offering free current accounts

To help you find the best current account for your lifestyle and spending habits, we’ve compiled a list of current account providers in the UK:¹⁰

• AIB
• Bank of Ireland
• Bank of Scotland
• Barclays
• Cahoot
• Chase
• Chelsea Building Society
• The Co-operative Bank
• Coventry Building Society
• Danske Bank
• First Direct
• Halifax
• HSBC UK
• Intelligent Finance
• Lloyds Bank
• M&S Bank
• Metro Bank
• Monzo
• Nationwide Building Society
• NatWest
• Royal Bank of Scotland
• Santander
• Smile
• Starling Bank
• Tesco
• TSB
• Ulster Bank
• Virgin Money
• Yorkshire Building Society

We’ve also provided some additional information on five of the accounts mentioned above.

Nationwide: FlexDirect

With the FlexDirect current account by Nationwide, you can earn 5% AER (4.89% gross a year) fixed interest for the first 12 months on your money, as well as 1% monthly cashback (up to £5 a month) when you spend on your debit card. Nationwide also offers a £175 welcome reward if you switch to their current account from a non-Nationwide one with two active Direct Debits.²

Co-Op: Current Account

Considered an ethical bank in the UK, opening a current account with The Co-operative Bank is a way to ensure your money has a positive social and environmental impact. You can also benefit from exclusive access to savings accounts, including the Co-Operative Base Rate Tracker account that earns from 1.50% to 4.25% interest (gross/AER) variable.⁵

Chase: Current Account

If you value cashback, the Chase current account might be for you. Get 1% cashback on your everyday debit card spending for your first 12 months, up to £15 per month. You’ll also receive a numberless card (as all card details are stored in the app) to prevent fraud and your details from getting stolen.⁹

Santander: Everyday Current Account

The Santander Everyday Current Account has an arranged overdraft that offers short-term borrowing for unexpected costs and emergencies. There are also no fees for withdrawing money from a Santander ATM abroad. If you’re trying to be better with your money, you can view tailored insights on your spending habits using the Santander mobile app.³

Starling: Current Account

You can apply for a Starling current account using the mobile app, making it one of the easiest bank accounts to open online. On top of this, Starling’s fee-free current account comes with 24/7 online support and virtual Spaces to organise and set aside your money – each with a virtual card that lets you only spend money in that pot.⁷

Manage your money with an international alternative to a bank

When looking at which banks offer free current accounts and choosing the right account for you, make sure to do your research. There are many different benefits to each of these fee-free current accounts, so it’s important to pick one that best suits your lifestyle and everyday spending habits.

That being said, current accounts aren’t the only way to manage your money for free. While Wise is not a bank, the Wise Account has many similar features to a bank account and can be opened online without paying a penny. Benefit from no subscription fees, currency exchange that uses the mid-market rate 24/7, low, transparent fees* and a user-friendly mobile app that makes everyday spending easy.

You can even earn returns on GBP, EUR and USD by opening a Wise account and turning on Wise Interest. Capital at risk.

Your Wise account awaits 🌍

Capital at risk. Growth not guaranteed. Wise Assets UK Ltd is authorised and regulated by the Financial Conduct Authority with registration number 839689. When facilitating access to Wise investment products, Wise Payments Ltd acts as an Introducer Appointed Representative of Wise Assets UK Ltd. Please be aware that we do not offer investment advice, and you may be liable for taxes on any earnings. If you’re uncertain, we urge you to seek professional advice. To find out more about the Funds, visit our website.

Sources used in this article:

1. Natwest - Everyday Bank Account
2. Nationwide - FlexDirect account
3. Santander - Everyday Current Account
4. Monzo - Current Account
5. The Co-Operative Bank - Current Account
6. Lloyds - Classic Account
7. Starling - Current Account
8. HSBC - Bank Account
9. Chase - Current Account
10. FCA - current account providers in the UK

Sources last checked: 26 February 2025