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. Start your comparison below. 

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Nationwide BS Logo
Nationwide BS FlexDirect - Funded FSCS logo
FSCS logo
Overdraft Rate (EAR)
39.90%
Interest Rate (AER)
5.00%
Account Fee
N/A
Account Management
Not 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 £1500
At least £1,000 must be paid in per month
Switch Service Guarantee member
Go To Provider's Site
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
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% / 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* 21% 6 days 13 days
Get a debit card 0% 8 days 13 days
Get internet banking 0% 9 days 14 days
Get an overdraft 0% 8 days 13 days
Replace a lost debit card 0% 6 days 12 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: 31 March 2024
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
£28.37

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.
Savings - preferential terms
- Eligible for Flex Instant Saver
Kroo Bank Ltd Logo
Kroo Bank Ltd Current Account FSCS logo
FSCS logo
Overdraft Rate (EAR)
N/A
Interest Rate (AER)
4.35%
Account Fee
N/A
Account Management
Not Available At Branch Not Available By Mail Not Available At Post Office Not Available By Telephone Not Available Online Available By Mobile Text Alerts Not Available
Additional Information
Credit interest paid on balances up to £85K.
No cash or cheque deposits available.
No charges on foreign debit card usage.
Go To Provider's Site
Representative Example:N/A
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
Debit Card
Visa
Withdrawal Limit
£300

Credit Interest Rates

Balance
Gross Rate %
AER %
£0.01 - £499999.99
4.27%
4.35%
£500000.00+
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
£0.01 to £200.00 - 0.00% (Per calendar month). £200.01 and over - 0.00% / £0.01 to £200.00 - 0.00% (Per calendar month). £200.01 and over - 0.00%
Transaction Charge
£0.00 / £0.00

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
1.87% - Per Month
24.90%
Refused Payment Fee
£0.00
Grace Period
N/A
Monthly Maximum Charge
15.00

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.
NatWest Logo
NatWest Adapt Current Account FSCS logo
FSCS logo
Overdraft Rate (EAR)
N/A
Interest Rate (AER)
2.70%
Account Fee
N/A
Account Management
Not 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
Go To Provider's Site
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 17 Years
Eligibility
None
Account Fee
None
Introductory Account Fee
None

Facilities

Direct Debits
Standing Orders
Debit Card
Mastercard
Withdrawal Limit
£250

Credit Interest Rates

Balance
Gross Rate %
AER %
£0.01+
2.67%
2.70%

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% 2 days 4 days
Get internet banking 0% 8 days 8 days
Get an overdraft 100% 0 days 0 days
Replace a lost debit card 0% 2 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
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.
Emergency Cash Service
- Free 24/7 Emergency Cash Service to withdraw up to £300 for online and telephone banking customers or £60 if not.
Royal Bank of Scotland Logo
Royal Bank of Scotland Revolve FSCS logo
FSCS logo
Overdraft Rate (EAR)
N/A
Interest Rate (AER)
2.70%
Account Fee
N/A
Account Management
Not 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 requirement
Charges for using debit card overseas
Account for ages 11-18
Go To Provider's Site
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 17 Years
Eligibility
None
Account Fee
None
Introductory Account Fee
None

Facilities

Direct Debits
Standing Orders
Debit Card
Mastercard
Withdrawal Limit
£250

Credit Interest Rates

Balance
Gross Rate %
AER %
£0.01+
2.67%
2.70%

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% 2 days 4 days
Get internet banking 0% 8 days 8 days
Get an overdraft 100% 0 days 0 days
Replace a lost debit card 0% 2 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
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.
Emergency Cash Service
- Free 24/7 Emergency Cash Service to withdraw up to £300 for online and telephone banking
Chase Logo
Chase Chase Current Account FSCS logo
FSCS logo
Overdraft Rate (EAR)
N/A
Interest Rate (AER)
1.00%
Account Fee
N/A
Account Management
Not Available At Branch Not Available By Mail Not Available At Post Office Not Available By Telephone Not Available Online Available By Mobile Text Alerts Not Available
Additional Information
1% cashback on everyday debit card purchases on the first £1.5K pm, capped at £15. Exceptions apply
No overdraft available
No monthly account fees
Go To Provider's Site
Representative Example:N/A
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
Direct Debits
Standing Orders
Tied/Linked Accounts
Switch Service Guarantee
Debit Card
Mastercard
Withdrawal Limit
£500

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
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* 97% 0 days 1 day
Get a debit card 0% 4 days 16 days
Get internet banking 100% 0 days 0 days
Get an overdraft - - -
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
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
- Receive 1% cashback on everyday purchases capped at £15. Cashback exceptions apply.
Exclusive offers with this account
- Option to round up purchases to the nearest pound. 4.89% gross will be paid on the rounded up balance each month. T&C's apply.
Savings - preferential terms
- Eligible for Saver Account
NatWest Logo
NatWest Premier Select FSCS logo
FSCS logo
Overdraft Rate (EAR)
0.00%
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 funding requirement each month
No interest paid on credit balances
Account designed for high net worth individuals
Go To Provider's Site
Representative Example:Based on an overdraft limit of £1200. Up to £500.00 charged at 0.00% EAR Variable. Over £500.00 charged at 19.49% EAR Variable. Representative 11.4% 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
Income Joint: Min £120000.00 Per Annum (Paid into account each year). Income Single: Min £100000.00 Per Annum (Paid into account each year). Investable Assets: Min £100000.00 Continuous (Held with institution). Mortgage: Min £500000.00 (Outstanding mortgage balance with provider). Savings: Min £100000.00 Continuous (Held with institution)
Account Fee
None
Introductory Account Fee
None

Facilities

Cheque Book
Direct Debits
Offset Option
Standing Orders
Switch Service Guarantee
Debit Card
Mastercard
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
0.00% / 0.00%
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% 2 days 4 days
Get internet banking 0% 8 days 8 days
Get an overdraft 100% 0 days 0 days
Replace a lost debit card 0% 2 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 %
£500.01
1.50% - Per Month
19.49%
£0.01
0.00% - Per Month
0.00%
Grace period
14:30 same day
Unarranged Overdraft
Unarranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
1.50% - Per Month
19.49%
Refused Payment Fee
Up to £1.55
Grace Period
14:30 same day
Monthly Maximum Charge
18.80
Range of annual interest rates payable for overdraft
Arranged Unarranged Refused payment fee
19.49%
19.49%
£1.55
Data as of: 31 March 2024
Overdraft Pricing in the previous calendar quarter
Range of Advertised APRs during the period
19.5%
Cost of holding a £500 overdraft
For 7 days
For 30 days
For 60 days
£1.72
£7.37
£14.85

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 Reciept Management tool.
Adviser offering financial services
- Access to Premier Manager and Wealth Manager.
Will Writing
- Will-writing & Executor Service for a fee.
Emergency Cash Service
- Free 24/7 Emergency Cash Service to withdraw up to £300 for online and telephone banking customers or £60 if not.
Royal Bank of Scotland Logo
Royal Bank of Scotland Premier Select FSCS logo
FSCS logo
Overdraft Rate (EAR)
0.00%
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 funding requirement each month
No interest paid on credit balances
Account designed for high net worth individuals
Go To Provider's Site
Representative Example:Based on an overdraft limit of £1200. Up to £500.00 charged at 0.00% EAR Variable. Over £500.00 charged at 19.49% EAR Variable. Representative 11.4% 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
Income Joint: Min £120000.00 Per Annum (Paid into account each year). Income Single: Min £100000.00 Per Annum (Paid into account each year). Investable Assets: Min £100000.00 Continuous (Held with institution). Mortgage: Min £500000.00 (Outstanding mortgage balance with provider). Savings: Min £100000.00 Continuous (Held with institution)
Account Fee
None
Introductory Account Fee
None

Facilities

Cheque Book
Direct Debits
Offset Option
Standing Orders
Switch Service Guarantee
Debit Card
Mastercard
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
0.00% / 0.00%
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% 2 days 4 days
Get internet banking 0% 8 days 8 days
Get an overdraft 100% 0 days 0 days
Replace a lost debit card 0% 2 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 %
£500.01
1.50% - Per Month
19.49%
£0.01
0.00% - Per Month
0.00%
Grace period
14:30 same day
Unarranged Overdraft
Unarranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
1.50% - Per Month
19.49%
Refused Payment Fee
Up to £1.55
Grace Period
14:30 same day
Monthly Maximum Charge
18.80
Range of annual interest rates payable for overdraft
Arranged Unarranged Refused payment fee
19.49%
19.49%
£1.55
Data as of: 31 March 2024
Overdraft Pricing in the previous calendar quarter
Range of Advertised APRs during the period
19.5%
Cost of holding a £500 overdraft
For 7 days
For 30 days
For 60 days
£1.72
£7.37
£14.85

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.
Adviser offering financial services
- Access to Premier Manager and Wealth Manager.
Emergency Cash Service
- Free 24/7 Emergency Cash Service to withdraw up to £300 for online and telephone banking customers or £60 if not.
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
£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
2.99% / 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* 92% 1 day 11 days
Get a debit card 0% 7 days 10 days
Get internet banking 0% 4 days 6 days
Get an overdraft 100% 0 days 0 days
Replace a lost debit card 0% 5 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
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
Range of annual interest rates payable for overdraft
Arranged Unarranged Refused payment fee
35.00%
0.00%
£0.00
Data as of: 31 March 2024
Overdraft Pricing in the previous calendar quarter
Range of Advertised APRs during the period
35.0%
Cost of holding a £500 overdraft
For 7 days
For 30 days
For 60 days
£2.88
£12.45
£25.21

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
- Personalise your debit card for £10. You can upload own pictures or choose from extensive online gallery.
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
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* 72% 1 day 23 days
Get a debit card 0% 5 days 6 days
Get internet banking 90% 1 day 7 days
Get an overdraft 96% 1 day 43 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: 31 March 2024
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
- £175 cashback for accounts switched using the Current Account Switch Service, including at least 2 direct debits or standing orders. Must deposit £1,000, register and log on to online banking within 30 days of account opening and make 5 or more debit card payments. T&Cs apply.
Savings - preferential terms
- Comes with linked Regular Saver Account fixed for 12 months.
Nationwide BS Logo
Nationwide BS FlexAccount FSCS logo
FSCS logo
Overdraft Rate (EAR)
39.90%
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
Access to exclusive member-only products like the Flex Instant Saver
No credit interest paid
Switch Service Guarantee member
Go To Provider's Site
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
None
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
2.99% / 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* 21% 6 days 13 days
Get a debit card 0% 8 days 13 days
Get internet banking 0% 9 days 14 days
Get an overdraft 0% 8 days 13 days
Replace a lost debit card 0% 6 days 12 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
2.84% - 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: 31 March 2024
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
£28.37

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.
Savings - preferential terms
- Eligible for Flex Instant Saver
Note

Our data experts work tirelessly to make sure the rates and information we show are up to date and correct. Moneyfactscompare.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 Moneyfactscompare.co.uk. None of these arrangements affects our independence.

Depositor Protection

Eligible deposits with UK institutions are protected by the Financial Services Compensation Scheme (FSCS) up to a maximum level of protection of £85,000 per person per institution. All new savings or bank accounts provided to UK customers are now covered by the FSCS.

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.

Provider Links

‘Go To Provider's Site’ 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 ‘Speak to A Broker’ 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's Site' or 'Speak To A Broker' button, when you call an advertised number or when you complete an application following a link from our website.

Free bank accounts explained

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.

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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.
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