[Closed] New Current Account recommendations

Switched over to First Direct several years ago, cant recommend them highly enough and think their "1st Account" fits your criteria?

Another vote for first direct. Web site is terrible but the people on the phone are fantastic. V happy

I have a couple of NatWest accounts (personal and joint) with no monthly fee which I've had for decades.
They've seemed pretty decent - with usable online banking that seems secure (password +pin, auto-logout, card reader required for setting up new payees etc)

Having said that, I'm thinking about moving the Joint account over to their Rewards account. which costs £3 a month but pays 1% back on household bills (including council tax, leccy, gas and internet).

http://personal.natwest.com/personal/current-accounts/compare-current-accounts.html

It often comes down to to where you're based though, which branch is nearby home or work, it's all quite subjective. I've had an RBS account since 1st/2nd year uni, and have known the bank managers and staff very well since then - some things are a bit tighter now but I used to be able to phone them up and get stuff done over the phone and the paperwork would be sorted out some time later.

Business account - they've been good about that too.

Had the bank manager's mobile number in my address book. They really were pretty helpful. Might have changed now right enough with everything getting more regulated and supervised..

[ ours is a simple Select account. Not sure of the overdraft fees... by free you mean fees on top of interest? ]

First Direct matches all of those. Should get a moving bonus too.

have been excellent for me for years now.

First Direct matches all of those

Not it don't - cut & pasted off their web site:

[i]If after six months you do not pay £1,000 per month into your 1st Account you may have to pay a fee of £10.[/i]

Nationwide - FlexAccount

And if you get recommended by a friend, for example me, we both get £100.

+1 for First Direct.
The app is good and customer services are excellent.

First Direct matches all of those
Not it don't - cut & pasted off their web site:

If after six months you do not pay £1,000 per month into your 1st Account you may have to pay a fee of £10.

Assuming you earn more than £12k a year you'll pay no fees.

As an aside, now that Visa Europe has been sold back to Visa Inc by the banks because of the European legislation which limits the revenue they can make from payments, and PPI and various other forms of revenue all now gone, expect more fees to be levied on your current account from all banks.

Personally I have no problem with this - it costs to run the systems and to employ the people who work in customer services etc so being given it for free is forcing banks into running loss-making services which is never realistic in the long run

forcing banks into running a loss making service

really?

they use the money everyone trusts them with to make huge profits investing in all sorts of lucrative things that you may not really like to support.

they are only interested in getting everyone into a lifetime of crippling debt

and that is about the level of service they provide and they expect you to pay for it.

recommend a shoebox under the bed.

Nationwide - FlexAccount

First Direct.

First Direct - though yes you do need to pay in a minimum amount. Customer service is great. Plus they will give you £100 to join.

I don't have a minimum amount for my First Direct account because I took out a credit card too (which I never used, oops). However, I'm not sure if they still do this so it's worth checking? Either way, I would just move money about if one month I don't have the magic £1000 in order to make it appear as though I do.

Santander are putting the fee up from £2 to £5 per month but surely switching depends on whether you can get a better deal. They pay me about £50 a month in interest and cash back, I can't find a better deal than that.

+1 for Santander, the rise in fee is frustrating but it's more than covered by the cashback. Interest is a nice brucie bonus on top.

Or look at Nationwide FlexPlus which gives travel/breakdown/mobile cover + other benefits and 3% interest for £10 a month (and usually cashback via TCB or Quidco)

I generally avoid fee-paying accounts, but these two are winners.

My daily account is a Nationwide flexplus - net interest is about £5 a month so account costs £5 a month for worldwide family travel insurance (so covers the girlfriend aswell,) breakdown cover, mobile insurance and extended warranty on electrical items so easily pays for itself. Got the credit card at the same time - cashback is only 0.5% but is unlimited so just use that to buy everything and pay it off as and when I feel like it.

My savings are in a Santander 123 as the interest more than makes up for the fee rise to £5. I just transfer in the necessary £500, pay my council tax and utilities from it and transfer the difference back.

+1 for First Direct.
The app is good

I beg to differ. As per previous topics, their app is pants. Can't set up a transfer, can't see more than 30 days transactions, can't send a secure message, etc etc etc. Their website is also pants. The phone service is friendly and sometimes efficient. Sometimes not.

I don't have a minimum amount for my First Direct account because I took out a credit card too (which I never used, oops). However, I'm not sure if they still do this so it's worth checking?

That was the same for me, hence not bothering to check the T&Cs. Although I'm also obviously fabulously wealthy so the minimum deposit wouldn't have been a problem either 😀

I've moved both our current accounts this year, to those mike p and ste t recommend:

+1 for Santander, the rise in fee is frustrating but it's more than covered by the cashback. Interest is a nice brucie bonus on top.

Or look at Nationwide FlexPlus which gives travel/breakdown/mobile cover + other benefits and 3% interest for £10 a month (and usually cashback via TCB or Quidco)

I generally avoid fee-paying accounts, but these two are winners.

Her account is Nationwide Flexplus, for the bundled travel insurance (inc Winter sports) phone cover and full European breakdown cover. Also made it a joint account so both cars covered 🙂

Mine is Santander 123, for the 3% interest on up to £20k and the reward for utility DD payments.

Quidco payment from both for switching too.