Bank accounts Best bank accounts for authorised overdrafts
If you use your authorised overdraft, try one of these accounts. We analyse all nationally-available current accounts and show the best based on our scenario of someone running a £500 authorised overdraft for two weeks a month.
| Provider | Authorised Overdraft Interest rate | Annual cost of a £500 overdraft for two weeks each month | Min monthly funding | Access Access help | Customer score Customer score help | Find out more |
|---|---|---|---|---|---|---|
| First Direct 1st Account   | 15.90% | £17 | £1,500 |
| 93% |  |
| Smile Current Account  | 15.90% | £34 | Regular payment |
| 88% | |
| Nationwide FlexAccount  | 18.90% | £40 | £750 |
| 74% |  |
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Access
Key:
- Branch
- Internet
- Postal
- Telephone
Customer score
Which? member score based on customer satisfaction and likelihood of recommending company to friend/family member.
Wherever we display an “APPLY NOW” button in the above table, that company pays us a small fee each time someone clicks on the button. These payments do not influence whether a product is in the table, where it appears, or whether it continues to do so. Our Best Rates tables are compiled by our independent researchers. All revenue raised from these tables is reinvested in our research and campaigning work on behalf of all UK consumers.
How we choose our Best Rate bank accounts
Which? Best Rate bank accounts offer the best rates on the market for the scenarios we've used. They also have to meet the following conditions:
- The accounts must be available nationally
- The account provider must be fully covered by the Financial Services Compensation Scheme
We analyse the whole market and calculate the cost of the account so you can see how much you're likely to pay or how much interest you'll earn if you choose that account.
Which? Recommended Providers and Which? Warning
Which? Recommended Providers are companies that are both rated highly by our members and have products that meet the high standards of our researchers. Which? closely monitors the products and practices of all Recommended Providers and reserves the right to exclude any company that does not treat its customers fairly. Follow the link for a full list of WRPs.
We also understand that for many people, finding products with the best rate is a priority. But where a provider with a poor service score appears in our Best Rate tables, we'll highlight this with a warning logo. By naming and shaming those providers with poor satisfaction ratings, we hope that companies improve their standards.
- Call the Which? Money Helpline for further guidance on the banking best options for you
- Thinking about taking our an overdraft? Take a our guide to bank account overdrafts
- Thinking about switching you bank account? Read our helpful guide
