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 Ist Account   | 15.90% | £17 | £1,000 |
| 92% |  |
| Smile Current Account  | 18.90% | £40 | Regular payment |
| 87% |  |
| Nationwide FlexAccount  | 18.90% | £40 | £750 |
| 76% | |
| Yorkshire Bank Current Account Plus  | 18.85% | £40 | None |
| 61% | |
Help
Access
Key:
- Branch
- Internet
- Postal
- Telephone
Customer score
Which? member score based on customer satisfaction and likelihood of recommending company to friend/family member. Customer scores are based at brand level.
Customer scores based on a survey of 13,345 Which? connect online community members carried out in June 2012 and November 2012.
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
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.
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
- Thinking about taking our an overdraft? Take a our guide to bank account overdrafts
- Thinking about switching you bank account? Read our helpful guide
