Bank accounts: Best bank accounts if you always stay in credit
Not sure which current account would suit you best? We've made it easier for you by analysing all nationally-available current accounts and selecting the best if you stay in credit.
We show the best accounts for credit balances of £1,000. If you're looking for a bank account with extra benefits such as travel insurance or car breakdown cover, see our online tables to find out which is best.
Find out more: Making the most of multiple current accounts - earn even more interest
|Provider||Credit interest rate (AER) £1000 balance||Switching incentives and other perks||Min monthly funding||Access Access help||Customer score Customer score help|
|Nationwide BS FlexDirect||5.00%a|
Recommend a friend and share £200
Fee-free overdraft for first 12-months
|5.00%b||5% cashback on first £100 of contactless spending||£500c||68%|
|3.00%||Extra Clubcard points for spending on debit card|
|Bank of Scotland|
|Up to 3% cashback on household bills paid by direct debit||£500||62%|
|1.00%f||Pick a free perk from available selection||£1,500g||59%|
|0.50%h||Preferential rate on its linked savings account||None||56%|
|0,50%h||Preferential rate on its linked savings account||None||64%|
This table is updated on a daily basis.
- a) 5% paid on balances up to £2,500 for the first 12 months (1% thereafter). You won't get any interest on any part of your balance over £2,500.
- b) 5% paid on balances up to £2,000. Customers can open a maximum of one account.
- c) To earn 5% you must credit your current account with £500 each month, register for internet banking, paperless statements and correspondence.
- d) Interest paid at 1.5% on balances from £1, 2% from £1,000 and 3% from £3,000. 0% paid on balances above £5,000
- e) Interest paid at 1% on balances from £1,000, 2% from £2,000 and 3% from £3,000. 0% paid on balances above £20,000. No interest paid on balances of less than £1,000. Up to 3% cashback available when paying for household bills by direct debit. A £5 monthly account fee applies. A maximum of two accounts can be held at any one time. These can be held in single or joint names.
- f) Interest tiered: 1.00% paid on balances from £1 to £1,999.99, 2.00% on balances of £2,000 to £3,999.99 and 4.00% on balances of £4,000 to £5,000. No interest is paid on amounts above £5,000.
- g) £5 monthly account fee waived if £1,500 or more paid in each month.
- h) 0.5% paid on balances up to £2,000. You won't get any interest on any part of your balance over £2,000.
It's worth noting that although the Halifax's Reward Current Account doesn't pay interest on credit balances, it does reward customers £5 each month their account stays in credit. To be eligible for the monthly reward, customers must pay in at least £750 each month and pay two different direct debits. Switchers will also receive £100.
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 current 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
- Take a look at our bank accounts customer satisfaction
- 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.