What’s a free bank account?
While a current account is usually the simplest account available to users, it will usually come with a number of free services. These may include: a debit card to buy goods or withdraw cash in the UK and around the world; the ability to write and pay in cheques; Direct Debit and standing order functionality; options to transfer money, check your bank balance, withdraw money from cash points or branches and more.
Remember, though: if you open a bank account free of charge, there could still be fees attached. Even free bank accounts can come with fees for additional services such as using an overdraft.
How to find a free current account
Free bank accounts have become more common over the past 20 years, with nearly eight million of such accounts now open.* Since 2016, many of the major banks in the UK have been legally obliged to offer no-fee accounts.
Our comparison table can help you find the best free bank account for your needs.
Even with a free bank account, there might be fees for some services, such as:
overdrafts
using your card abroad
withdrawing money at certain cash machines
Direct Debits and standing orders that are refused
You can check the account’s terms to find out about charges for extra services.
There are a few other things to look out for when choosing a free bank account:
Online and mobile banking: instantly transfer money or set up payments wherever you are and whenever you want
A good mobile app: you can sometimes pay in cheques by taking a photograph with your phone’s camera
A high-street branch: choose a bank with a branch near you so you can pop in if necessary
The best free current accounts offer extra features, too.
Overdrafts
You can use an overdraft to borrow money in the short term or as an emergency buffer for unexpected costs. You might pay charges or interest for doing so.
Our comparison chart shows which bank accounts offer an overdraft. It shares details on:
which offer a free overdraft
the overdraft limit
the interest rate
the daily or monthly fees
Interest payments
Some free bank accounts pay interest when you have money in your account.
Check the free bank account requirements
Many no-fee bank accounts have requirements that you need to meet. These might include setting up a minimum number of Direct Debits or paying in a certain amount of money each month.
If you don’t meet the conditions, you could lose account benefits, such as interest, or be charged a fee.
What documents do you need for a free current account?
Typically, you must provide the following documents:
Proof of ID: your passport or driving licence
Proof of address: a recent utility bill, council tax bill or rental agreement
Sometimes banks ask for additional details, such as your occupation, income and expenses. This isn’t legally required, but some banks gather this data so they can share offers about other products in the future.
You might need to show extra documents if you’re
an international student
a prisoner
a refugee
an asylum seeker
a migrant worker
on probation
