UK Bank Accounts:
Your list of the best bank accounts in the United Kingdom available online. Whether you are looking for the highest interest rate, 0% overdraft, bank accounts which accept bad credit or just want to find the best uk bank account around. Please browse the bank account list below or use the menu options on the left to go to specific UK bank accounts, loans, insurance or other finance related areas of interest. We welcome any feedback you may have on our site including any new UK bank accounts or any accounts you feel could be included in our catalogue.
We help you compare bank accounts so you can find the best current account deal available. We also provide a directory which lists all UK banks and building societies.
The current account interest rate is likely to be one of the most important factors for most people. However, as we explain, there is more to a current account than the interest rate.
You should also consider factors such as potential charges, whether you want to manage your account online and which cash machines can be used without charge. Our current account features section provides a more detailed list of areas for consideration when choosing a current account.
We list the UK's best current accounts based on the highest interest rates being offered, as well as the best bank accounts for those requiring an overderaft facility. Alternatively you can use the banking directory in order to search for a current account.
The process of obtaining a U.K. bank account usually takes about two to three weeks; from the date Coddan receives your completed banking account opening service order form, and the bank's required documents.
To open a bank account you will need to produce 'proof of identity'. The most commonly accepted forms are Passports, Driving Licences and Utility bills which include your name and address. Banks usually ask for a number of these items and may also require a letter from an employer.
Banks have a strict vetting procedure and will ask a multitude of questions to find out your current credit situation. Questions include family details, current and previous addresses, outstanding loans, and credit card balances. The bank may also approach other companies to check your credit history. If the bank is satisfied that you do not appear to be a credit risk they will probably allow you to open an account.
In order for us to open a bank account for the company or LLP we will need the following items:
Copy of Drivers License. National Insurance Number of all signers (UK Citizens). Copies of Passport, with photo also please list address of record (Foreign Account). Email address, website address, business phone number, contact name must be supplied before account can be opened. Signed local bank reference letter from Officer of your current bank - translated in English. Companies and Limited Liability Partnerships (LLP) require Certified Copy of Certificate of Incorporation; please include a copy of the Memorandum and Articles of Association or LLP Agreement. Copy of company business card with name and title of principal signer. Detailed description of business type - nature of business. Please explain, in detail the need for a U.K. based bank account. List location of primary trading area. List anticipated volume, cash and otherwise. Please provide a "Certificate of Good Standing".
Our contacts are at senior management level with most major high street, private and investment banks. Our service includes initial consultation prior to final bank choice including the preparation of documents and the processing of your application including submission to the bank and ongoing consultation with the bank during the account opening procedure. Our UK corporate banking service is based on a history of success and over 60% of our business is received from client referrals or from requests from other professional service providers including law firms and accountants. Our service is comprehensive and whilst often linked to the formation of a Limited Company, we are able to arrange business accounts for any type of organisation including PLC's, Limited Liability Partnerships, Guarantee Companies, Charitable Companies, Unlimited Companies and Sole Traders.
UK Limited Company Bank Account - issued by UK high street bank. Cheque book issued. Standing Order & Direct Debit facility. No minimum deposit requirement. Telephone & Fax banking available. Subject to status (A/C also available with adverse credit). Choice of Lloyds, TSB, NatWest, HSBC, Royal Bank of Scotland, Bank of Scotland, Abbey National, GiroBank, Yorkshire Bank.
UK Basic Business Account - issued by a leading UK High Street Bank. No minimum balance. Counter Cheque facility (No Cheque Book). Clients with previous bad credit history accepted. Available for Bankrupts and any other adverse. Very basic account enabling your business to trade. Available for Sole Traders / Partnerships / Ltd Co.
Guaranteed Business Banking UK - issued by Natwest, Lloyds, TSB, HSBC, etc. Cheque Book issued immediately. Standing Order & Direct Debit facility. No minimum balance or deposit requirement. Corporate VISA/MasterCard available (Subject to Status). Internet Banking facility. Subject to Status (CCJs/Defaults Accepted). Available for Sole Trader/Partnership/Ltd Co. Guaranteed Acceptance.
Current Accounts:
Most people would find it hard to survive without a current account. Current accounts are used for your day to day business such as withdrawing cash, paying bills, writing cheques, and maybe receiving your monthly salary. Most people within the UK today have at least one current account.
Current accounts cost banks the most to keep running thus the interest paid on credit balances is usually very low, if you have a large current account balance you should consider looking at other ways to make your money work for you.
Since banks have made it easier to move from one bank to another, the market for current accounts has heated up which is great news for the consumer. Banks have attempted to make their current account appear better to others by
offering added extras such as travel insurance, airmails, or a cash payment for switching to them.
Current Account Features:
All current accounts are similar in that you can deposit money into the account and then withdraw money at any time without interest rate penalties, subject to any daily withdrawal limits and of course your available balance. However, the facilities offered can vary considerably, as does the naming convention for different types of accounts offered by the various banking institutions. When choosing a current account you should decide how you will be using your account and what facilities and features you are going to need. You are then in a position to choose the current account that most suits your needs for the minimum expenditure. Below is a list of questions you should consider when deciding on which current account to choose. Remember, you should focus on features that are relevant to you and your banking habits. For example, if a bank has very high overdraft charges, this should be of little interest to you if you never go overdrawn.
What is the minimum opening balance required in order to open the account? Is a cheque book provided and if so is it supplied with a cheque guarantee card? If so, what is the limit of the cheque guarantee card (the usual is £50 or £100)?
Is a cash machine card provided? If so, what is the limit on how much you can withdraw in one day? Is a debit card provided? Debit cards allow you to make purchases against your account, with the purchase amount usually being debited from your account on the next working day. Two types of debit card exist; Switch and Delta. They work in the same way.
Which cash machines can you use without being charged? You should take into account which cash machines are available in the areas you are most likely to want to withdraw cash, such as near home, near the office or where you tend to socialise.
What interest rates are offered on balances in credit? Some current accounts offer a tiered interest rate structure whereby the interest rate increases as your balance exceeds certain amounts.
What charges are made on the account? Is an overdraft facility offered? If so, does the overdraft need to be authorised or is it automatic? What is the interest rate charged on overdrafts? Is there an arrangement fee, and if necessary, a yearly renewal fee? If so, how much are these costs?
How often do you want current account statements to be sent? Do you want to be able to manage your account online? Do you require high street branches? Do you want the added security of your photograph and signature being etched onto your cards? Is any assistance offered if you need to move direct debits and standing orders to your new account? Are there any introductory offers? These include receiving a lump sum on opening a new account and receiving an interest free overdraft for a limited period after opening the account. Are preferential rates offered on other financial products such as personal loans, mortgages or insurance products?
Current Bank Account Charges:
For most people in credit, the cost of using a current account will be negligible, if not free. However, there are occasions when you may need to use banking services that incur a charge. Below is a list of some of the banking services that you may need to pay for. If you anticipate having to pay for any of these services on a regular basis then it would be worthwhile choosing a current account that charges less for those services: overdraft arrangement fee; Interest on amount overdrawn. Fee for going overdrawn when not arranged. Stopping a cheque (except for lost /stolen cheques). Special presentation of a cheque. Bank draft (sterling). Copies of paid cheques including providing details of paid cheques. Duplicate statement/historic copy. Same Day Value Payments (CHAPS). Foreign currency, travellers cheques and international transfers. Cheques, standing orders and direct debits returned unpaid. Unauthorised borrowing - items referred prior to payment (Referral Fees). Misuse of cheque guarantee card / Switch. Cashpoint withdrawal outside the bank's network. All Transactions Abroad.
Abbey Account:
The Abbey account does it all - it's easy to use and puts you in complete control of your money, with no hidden charges and attractive interest rates whether you're in the red or in the black. Can one account do it all? It can when you add four more flavours with special features designed to meet your different needs as you travel through life. So if you're after your very first bank account, studying at school or university, a recent graduate, or well established in your career, your Abbey account is the only one you need. Consider it if: you're not earning much, or are on state benefits and you want to draw money out over Post Office counters. You have a limited or poor credit history. Don't consider it if: You want to be able to use the Abbey branch counters. You want a debit card or cheque book. You want an overdraft facility. The Basic account is a no-frills account with limited facilities. Facts at a glance: This is a no-frills account that lets you do the simple things. This is only a summary of the Basic account, for full details contact your local branch.
Halifax Moneyback Current Account:
The first bank in Europe to offer you moneyback when you make purchases on your current account debit card! Do you regularly use your debit card to buy the groceries, pay for petrol or perhaps splash out on clothes? Would you like to be rewarded with moneyback each time you make a purchase using your current account debit card? If so, then this great new current account from the Halifax could be the one for you. The Halifax moneyback Current Account gives you: 1% moneyback on your debit card purchases in both the UK and abroad. 0.50% AER/gross* variable credit interest rate. An overdraft facility. Debit card with £100 cheque guarantee facility and cheque book available on request. Access to just about every cash machine in the UK and thousands more worldwide. 24 hour telephone and online banking so you can access your account whenever you choose. Access to all our branches so you can talk to someone face to face.
NatWest Current Account:
NatWest is the number 1 Business Bank with 850,000 small business accounts. With so much experience in business banking, NatWest can tailor a package that is right for the customer whether they are starting up or already running an existing business. For Start-ups, NatWest offers: Free Business Manager, to give one-to-one advice and assistance. Free banking for the first 18 months. Free Business Chargecard - no annual fee in the first year. Free advice and information to help customers plan and start a business. Free regular Business Reviews. Free Business Software. Free online advice. NatWest is the number 1 Business Bank with 850,000 small business accounts. With so much experience in business banking, NatWest can tailor a package that is right for the customer whether they are starting up or already running an existing business. For Start-ups, NatWest offers: Free Business Manager, to give one-to-one advice and assistance. Free banking for the first 18 months. Free Business Chargecard - no annual fee in the first year. Free advice and information to help customers plan and start a business. Free regular Business Reviews. Free Business Software. Free online advice.
Lloyds TSB Classic Plus Current Account:
Lloyds TSB offer an excellent current account called Classic Plus which could earn you a massive 4.20 % in gross interest. Another great advantage of this account is that any overdraft you agree with them will be interest free. You also get a visa debit card, commission free travel money, online banking or phone banking and a hassle free transfer if you choose to move your account to Lloyds. You'll be pushed to find a better current account offer. Verdict: Very Highly Recommended.
The Royal Bank of Scotland:
Use your Business Current Account to Offset money on your Personal Mortgage. The interest rate you pay on your mortgage is usually higher than the interest rate paid on funds in your Business Current Account. The Business Offset Service can turn this to your advantage. You don't receive interest on your Business Current Account when it is included in the Business Offset Service. Instead, your Business Current Account balance is used to reduce the amount of interest you pay on your Offset Flexible Mortgage. Key benefits: customers who are on our Standard Business Tariff have the opportunity to earn credit interest on surplus funds held on their Business Current Account. The current gross rate is 2.25% per annum (gross AER 2.27%) which is 2.5% per annum below the Bank's base rate. Please note: you will not receive interest on your Business Current Account when it is included in the Business Offset Service. Notes and coins can be withdrawn on demand or ordered in advance from any branch. Standard cheque books are available free or, for a small fee, can be personalised with your company logo and corporate design. Business Quick Deposit is available at most branches and allows you to pay in cash and cheques without having to queue or wait for your pay in to be checked. Night safe facilities are available at most branches for customers who need to pay in when branches are closed. Online banking and telephone banking services allow you to do your banking where and when it suits you.
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