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.
We also compare the best bank accounts for unauthorised overdrafts.
|Provider||Authorised Overdraft Interest rate||Annual cost of a £500 overdraft for two weeks each month||Switching incentives and other perks||Access Access help||Customer score Customer score help|
£100 when you switch to this account.
£250 interest free overdraft.
£100 gift card plus £10 each month you pay in £1,000+.
Automatic £500 overdraft of which first £100 interest free.
Recommend a friend and share £200
Free UK and European annual travel insurance
3-month interest overdraft
|18.90%||£40||£500 fee free overdraft for first 12-months||64%|
|18.90%||£40||Extra Clubcard points for spending on debit card||65%|
This table is updated on a daily basis.
- a) Minimum monthly funding - £1,000.
- b) No minimum monthly funding required.
- c) Minimum monthly funding - £750.
- d) A regular payment into the account must be made each month.
Customer scores are based on a survey of an online panel of respondents from the general public, who were invited to take part in the bank account customer satisfaction survey - during January 2016. The final sample size was 5,939.
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
Which? Recommended Providers are companies that are both rated highly 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.
Which? Warning Poor Satisfaction
We also understand that for many people, finding products with the best rate is a priority. But where a product from a provider with a poor customer score appears in our Best Rate tables, we'll highlight this with the warning logo. Our customer satisfaction surveys measure overall satisfaction with the provider in relation to bank accounts, not individual bank accounts offered by the brand. The customer score should therefore not be associated specifically with any individual bank accounts. Only customer scores that are significantly below average and fall into our bottom statistical tier receive our warning. Our customer scores are updated every six months.
By naming and shaming providers which customers judge to offer poor satisfaction in these tables, we hope that companies improve their standards.
- Call the Which? Money Helpline for further guidance on the banking best options for you
- Personal loan reviews - we've rounded up the best deals if you're looking to borrow
- Thinking about switching you bank account? Read our helpful guide
Which? Limited (registered in England and Wales number 00677665) is an Introducer Appointed Representative of Which? Financial Services Limited (registered in England and Wales number 07239342). Which? Financial Services Limited is authorised and regulated by the Financial Conduct Authority (FRN 527029). Which? Mortgage Advisers and Which? Money Compare are trading names of Which? Financial Services Limited. Registered office: 2 Marylebone Road, London NW1 4DF.