Compare Basic Current Accounts

Basic current accounts are 'no-frills' products that only provide everyday banking services
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Free app-based UK current account and Euro IBAN account
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From restaurant tabs to rent, split bills with anyone, even if they’re not on Revolut

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Information written by Hannah Harper Last updated on 20 May 2022.

What is a basic bank account?

A basic bank account is also known as a basic current account, a cash account, or a foundation account. It’s a type of current account created specifically for people who have found it hard to get approval for a standard current account. A basic bank account is fee-free and allows you to pay money in and take it out, set up regular outgoing payments, and withdraw cash from a cash point using a debit card.

How to open a basic bank account

There are usually several ways you can open a basic bank account – online, over the phone, in person, or by post. You should also be prepared to show proof of identity and address. Check with your bank which documents they need to confirm your identity and address, as different providers may ask for different documents.

Who can get a basic bank account?

To open a basic bank account, you usually need to be at least 16 years old, and this may rise to 18, depending on the bank. You typically also need to not qualify for a standard current account. This could be because you have poor or bad credit, or a difficult financial history – for example, maybe you’ve experienced bankruptcy or insolvency.

Advantages of a basic current account

No fees to pay on day to day banking
Can be opened even if you have no money to put in it yet
Pay in money owed to you such as salary or wages, benefits and tax credits.
Set up Direct Debits for bills and other recurring payments
Take out money from cash points, as well as pay in cash or cheques

Disadvantages of a basic current account

No option for an overdraft or a cheque book
No option to earn interest or cashback on your spending
You might be charged if a Direct Debit bounces – not by your bank, but by the company that’s owed the payment.

How to choose the best basic bank account

When you’re on the hunt for the best basic bank account, a comparison table like NerdWallet’s can really help. You’ll be able to see at a glance how the banks stack up against each other.

Think about whether you’d prefer to bank online, or visit a local branch – this may affect your decision. Keep in mind that most basic bank accounts are fee-free, but don’t offer overdrafts.

If you’re considering applying for a basic bank account with a bank you already have another account with, think – do you owe money on this other account, maybe via an overdraft or other charge? If so, check whether they’d be allowed to take money from your basic account to cover your debt on the other account. If yes, it might be wise to choose a different provider for your fee-free bank account.

What are some alternatives to a basic bank account?

If you’re looking for alternatives to a basic bank account, here are a few to consider.

Fintech online banks

These often offer completely smartphone-app-based accounts, and tend to only carry out ‘soft’ searches on your credit history, which won’t affect your record. Providers include Monzo, Monese, and U Account, and there are others, too.

Credit unions

Alongside member lending services, some credit unions also provide basic banking services, with no credit check necessary. The best known of these is an account called Engage. Keep in mind, you have to be a member of a credit union before you can apply for it.

Post office card accounts

These only accept pension and benefit payments, and you can get one set up by getting in touch with the government department that pays your pension or benefits. Bear in mind these accounts will no longer be available from November 2021, so they don’t offer a long-term solution.

Basic Current Account FAQs

How to upgrade a basic bank account

If you already have a basic bank account, and your financial circumstances have improved since you opened it, you may be able to upgrade to a standard current account. You’ll need to check with your bank how to go about doing this – some may ask you to get in touch with them to discuss it, while others may direct you to an online eligibility checker first to do a ‘soft search’ on your current financial situation.

Can you be refused a basic bank account?

Yes, in some situations you may be refused a basic bank account – for example, if you can’t offer your bank proof of identity or address, or if you don’t consent to a credit check. Other reasons include being eligible for a standard current account, or if your bank suspects you want the account for fraudulent activity.

Do you need a credit check to open a basic bank account?

It depends on the bank, but it’s good to show that you’re willing if your bank does want to run a credit check on you. It’s a way for them to better understand your situation, and it doesn’t matter if you fail the check. A basic bank account isn’t offering you any credit, so failing a credit check shouldn’t affect your likelihood of being approved for the account.

Does applying for a basic bank account affect my credit score?

No, it shouldn’t do, because you aren’t applying for credit – basic bank accounts don’t provide credit to their customers.

However, if your bank does plan to run a credit check on you, ask whether it’s a soft search. A hard search may affect your score, and a soft search shouldn’t leave a trace. You may decide to apply to other banks if you aren’t happy with how yours does things.

» MORE: How to improve your credit score

Can I have two basic bank accounts?

Yes, you should be able to – but double-check with your existing basic bank account provider, to make sure it won’t cause problems if you want to open another one.

Can I switch my basic bank account to another?

Yes, you can. We reached out to the Current Account Switching Service and they confirmed: ‘As per our service definition, a fee-free basic account is classified as a UK current account and is within the scope of the Current Account Switching Service.’

Can I open a joint basic bank account?

Yes, if you and the person you want to open one with both qualify for a basic bank account.

Could my basic bank account be closed?

Yes. Like any bank account, your basic account could be closed if you don’t stick to its terms and conditions, give inaccurate or false information when opening it, or use it for fraudulent activity. It may also be closed if your circumstances improve and you become eligible for a standard current account. Then you may have to upgrade your account.

About the author:

Hannah has been writing about money since 2013. Formerly a copywriter for Virgin Money, covering credit cards, mortgages, pensions, and more, she now writes on personal finance for NerdWallet UK. Read more

Compare Current Accounts

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13 products found

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Revolut Current Account - Standard Plan
Monthly Fee
Free

Interest Rate
Up to 1.18%

Arranged Overdraft
Rate
24.99% - 39.90%

Minimum Monthly Credit
None
See Deal + More info
Product Features
- Free app-based UK current account and Euro IBAN account
- Send and receive money in 30+ currencies with no hidden fees
- From restaurant tabs to rent, split bills with anyone, even if they’re not on Revolut
Eligibility / Restrictions
- Must be 18 years or older
- No cash or cheque facilities on this account
Offer
Sign up and get 3 months of Premium free Get upgraded to Premium (worth £6.99 per month) for free. T&Cs apply.

Representative Example: 0% interest up to £50. If you use an arranged overdraft of £1,200, you'll be charged the equivalent annual rate of 35% EAR (variable). Representative APR 35% (variable)
TSB Spend & Save Account
Monthly Fee
Free

Interest Rate
0%

Arranged Overdraft
Rate
39.9%

Minimum Monthly Credit
None
See Deal + More info
Product Features
- Earn up to £30 cashback: £5 per month for 6 months, with 20 debit card payments per calendar month*
- Get 2.51% Gross/2.52% AER variable interest on balances up to £25k across 5 Savings Pots. Includes fixed introductory bonus of 1.92% AER for the first 12 months. After 12 months variable interest without bonus will apply. Interest paid monthly.
- Access to a Monthly Saver paying 5.00% Gross/AER fixed for a year. Save £25 to £250 per month by standing order from your TSB current account. Interest is paid on maturity.
Eligibility / Restrictions
- *Eligible for Cashback if you open a new Spend & Save account, including changing from an existing TSB current account, other than from a Classic. Direct debits and withdrawals not included.
- UK residents only, 18+
- Assumed arranged overdraft of £1200: 39.9% APR representative variable. Subject to application, approval & repayable on demand
Offer
Get £200 to switch and stay. £125 to switch to TSB by 23/03/23 (log into the TSB Mobile Banking App, make a card payment and set up 2 Direct Debits). £75 to stay (make 5 card payments and pay in £500/month plus 2 Direct Debits until 30/09/23). T&Cs apply.

Representative Example: If you use an arranged overdraft of £1,200, you'll be charged the equivalent annual rate of 39.9% EAR (variable). Representative APR 39.9% (variable).
Barclays Bank Account
Monthly Fee
Free

Interest Rate
0%

Arranged Overdraft
Rate
35%

Minimum Monthly Credit
None
See Deal + More info
Product Features
- Optional arranged overdrafts. Subject to application, financial circumstances and borrowing history
- Manage your money with the Barclays app, Online Banking and more. You must be 18 or over to access this product in the app. T&Cs apply.
- Join Barclays Blue Rewards to unlock member deals and gain access to exclusive savings products with competitive interest rates. Eligibility, conditions and a £5 monthly fee apply.
Eligibility / Restrictions
- Must be aged 18 or over
- Must be a UK resident
Representative Example: If you use an arranged overdraft of £1,200, you'll be charged the equivalent annual rate of 35.0% EAR (variable). Representative APR 35.0% (variable). Subject to application, financial circumstance and borrowing history.
Starling Bank Personal Current Account
Monthly Fee
Free

Interest Rate
0.05%

Arranged Overdraft
Rate
15.0%

Minimum Monthly Credit
None
See Deal + More info
Product Features
- Speedy set up in minutes. No paperwork, monthly fees or branch visits
- 24/7 support via phone, email or in-app chat
- Save smarter with Goals, the digital change jar to put money away for the stuff you need
Eligibility / Restrictions
- Must be a UK resident
- Cash deposit facilities via Post Office branches
- Cheque deposit facilities via app or post
Representative Example: If you use an arranged overdraft of £1,200, you'll be charged the equivalent annual rate of 15 % EAR (variable). Representative APR 15% (variable).
The Co-operative Bank Standard Current Account
Monthly Fee
Free

Interest Rate
0%

Arranged Overdraft
Rate
35.9%

Minimum Monthly Credit
None
See Deal + More info
Product Features
- Option to opt-in to Everyday Rewards at no extra cost to get rewards of up to £2.20 a month for making everyday use of your current account
- Online and mobile banking
- Use Apple Pay, Google Pay or Samsung Pay
Eligibility / Restrictions
- Must be aged 16 or over, or 18 or over when requesting the optional overdraft. Approval is subject to status.
- Eligibility criteria apply.
- Everyday Rewards subject to qualifying conditions.
Offer
Refer a Friend and get £125 for you, £125 for your friend if they switch. Open a Standard Current Account today and if you refer a friend and they switch to The Co-operative Bank, you'll both get £125. T&Cs apply.

Representative Example: If you use an arrange overdraft of £1,200, you’ll be charged the equivalent annual rate of 35.9% EAR (Variable). Representative APR 35.9% (Variable).
HSBC Bank Account
Monthly Fee
Free

Interest Rate
0%

Arranged Overdraft
Rate
38.9%

Minimum Monthly Credit
None
See Deal + More info
Product Features
- Manage your everyday finances wherever you are, online, in-branch, on your mobile or by phone
- You can apply for an arranged overdraft (subject to status), handy for unexpected expenses
- Build up your savings pot with a Regular Saver - you can save between £25 to £250 each month and earn 1.00% AER/gross
- Save money with the HSBC Home&Away offers programme
Eligibility / Restrictions
- Must be 18 or older and live in the UK or EU
Representative Example: 0% EAR (variable) on the first £25, 39.9% EAR (variable) on anything above that, giving a representative annual percentage rate (APR) of 38.9% APR (variable). Based on an arranged overdraft of £1,200.
Santander Everyday Current Account
Monthly Fee
Free

Interest Rate
0%

Arranged Overdraft
Rate
39.94%

Minimum Monthly Credit
None
See Deal + More info
Product Features
- Current account for everyday banking needs
- No minimum monthly funding or monthly fee to maintain the account
- Arranged Overdraft facility (subject to status)
Eligibility / Restrictions
- Must be over 18
- Must live in the UK permanently
Representative Example: If you use an arranged overdraft of £1,200, you'll be charged the equivalent annual rate of 39.94% EAR (variable). Representative APR 39.94% (variable).
Virgin Money M Plus Account
Monthly Fee
Free

Interest Rate
2.02%

Arranged Overdraft
Rate
19.9%

Minimum Monthly Credit
None
See Deal + More info
Product Features
- 2.02% AER/2.00% Gross (variable) interest on balances up to £1,000
- Linked saver paying 2.52% AER/2.50% Gross interest on balances up to £25,000 and 2.02% AER/2.00% Gross on balances over £25,000. Rates are variable. You will also have access to an exclusive Easy Access Cash ISA paying 3.00% AER/Tax-free (variable)
- Fee free worldwide spending on your card or withdrawing cash when you're abroad
- Cashback and exclusive rewards available via app
Eligibility / Restrictions
- Must be over 18
- Must be a UK resident
Representative Example: If you use an arranged overdraft for £1,200 you will be charged 19.9% AER Representative/EAR variable. Subject to financial status.
TSB Spend & Save Plus Account
Monthly Fee
£3

Interest Rate
0%

Arranged Overdraft
Rate
39.9%

Minimum Monthly Credit
None
See Deal + More info
Product Features
- Earn up to £60 annually, on-going £5 Cashback every month, with 20 debit card payments per calendar month*
- Zero TSB card charges abroad. ATM operators/foreign banks may charge & sellers may apply a currency conversion fee on purchases
- Get 2.51% Gross/2.52% AER variable interest on balances up to £25k across 5 Savings Pots. Includes fixed introductory bonus of 1.92% AER for the first 12 months. After 12 months variable interest without bonus will apply. Interest paid monthly.
Eligibility / Restrictions
- *Eligible for Cashback, if you open a new Spend & Save Plus account, including changing from an existing TSB account (Direct Debits and withdrawals not included)
- Up to £100 interest-free arranged overdraft available subject to status
- UK residents, 18+ only
Offer
Get £200 to switch and stay. £125 to switch to TSB by 23/03/23 (log into the TSB Mobile Banking App, make a card payment and set up 2 Direct Debits). £75 to stay (make 5 card payments and pay in £500/month plus 2 Direct Debits until 30/09/23). T&Cs apply.

Representative Example: If you use an arranged overdraft of £1,200, you’ll be charged the equivalent annual rate of 39.9% EAR (variable). Representative APR 40.1% (variable).
HSBC Advance Bank Account
Monthly Fee
Free

Interest Rate
0%

Arranged Overdraft
Rate
39.9%

Minimum Monthly Credit
£1,750
See Deal + More info
Product Features
- Get an arranged overdraft of at least £1,000 when you open an account
- Access to a Regular Saver account
- No monthly fee
Eligibility / Restrictions
- You must be 18 or older and live in the UK or EU
- To be eligible for HSBC Advance, customers will need to pay in a minimum of £1,750 per month or £10,500 over 6 months and be approved for an overdraft of £1,000+.
Representative Example: If you use an arranged overdraft of £1,200, you'll be charged the equivalent annual rate of 39.9% EAR (variable). Representative APR 38.9% (variable).
Santander Edge Current Account
Monthly Fee
£3

Interest Rate
0%

Arranged Overdraft
Rate
39.94%

Minimum Monthly Credit
None
See Deal + More info
Product Features
- Earn 1% cashback every month on selected household bills paid by Direct Debit, capped at up to £10 each month
- Earn 1% cashback every month on supermarket and travel spend when you use your debit card, capped at £10 each month
- Access to Santander Edge Saver with 3.50% AER / 3.45% gross (variable) interest up to £4k with 0.5% AER (variable) bonus rate for the first 12 months from opening
- Get cashback, vouchers, prize draws and other offers personalised to you when you use Santander Boosts
Eligibility / Restrictions
- For cashback on household bills and essential spend, you must pay a minimum of £500 into your account each month; have 2 active Direct Debits and be over 18 and live in the UK permanently
- To be eligible for Santander Boosts, you must have a personal Santander debit or credit card, be 18 years or over and be registered for Online and Mobile Banking.
Representative Example: If you use an arranged overdraft of £1,200, you'll be charged the equivalent annual rate of 39.94% EAR (variable). Representative APR 39.94% (variable).
Santander 1|2|3 Current Account
Monthly Fee
£4

Interest Rate
2.00%

Arranged Overdraft
Rate
39.94%

Minimum Monthly Credit
£500
See Deal + More info
Product Features
- Earn up to 3% cashback every month on selected household bills paid by Direct Debit, capped at £5 for each cashback tier each month
- Earn monthly interest of 2.00% AER/ 1.98% gross (variable) on balances up to £20,000
- Get access to a range of 123 World offers
Eligibility / Restrictions
- For interest and cashback on household bills, you must pay a minimum of £500 into your account each month; have 2 active Direct Debits and be over 18 and live in the UK permanently
- There is a £4 monthly fee for maintaining the account that will automatically be taken from your account each month
Representative Example: If you use an arranged overdraft of £1,200, you'll be charged the equivalent annual rate of 39.94% EAR (variable). Representative APR 39.94% (variable).
Card One Money Account
Monthly Fee
£12.50

Interest Rate
0%

Arranged Overdraft
Rate
No overdraft

Minimum Monthly Credit
None
See Deal + More info
Product Features
- No credit checks - open to everyone with guaranteed acceptance (subject to proper identification)
- No charges for bounced Direct Debits or Standing Orders
- Earn up to 3.5% cashback at selected retailers.
Eligibility / Restrictions
- £1.50 UK ATM withdrawals; 2.75% overseas transaction fee; £3 plus 2.75% overseas ATM withdrawal fee
- Pay in cash at Post Office branches; pay in cheques at Barclays branches
- Must be a UK Resident and 18 years or over
No credit facilities on this account

Please note: Our comparison service features a selection of providers from whom we receive commission. This table is initially ordered according to our commercial arrangements. You can use the options above the table to order it according to various criteria.

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