Free Current Account?

megasava

Can anyone recommend a free current account please. My online account requires a minimum of £500 to be paid in each month but due to circumstances (I'm self employed) I sometimes pay in much more than that amount but occasionally pay under so I get hit with penalty charges. I only need a basic account as I try to keep a minimum amount in credit just to cover the direct debits so I'm not worried about gaining interest. Any advice appreciated thanks

hansi

I have used the Smile basic current account very successfully for some years now. No minimum deposi requirement.

bethyblue612

Do you have a savings account?

If so, wouldn't transferring money out and back again between the two count as paying in?



There are lots of free accounts though - and if you can pay in (or transfer) £1000 each month, the Halifax Reward account will pay you £5 :-)

hansi

bethyblue612 wrote: »

Do you have a savings account?

If so, wouldn't transferring money out and back again between the two count as paying in?



There are lots of free accounts though - and if you can pay in (or transfer) £1000 each month, the Halifax Reward account will pay you £5 :-)

megasav did say that he could not pay in that sort of amount!

Tixy

All basic bank accounts are free - http://yourmoney.moneyadviceservice.org.uk/HTML/en/products/bank_accounts/basic_bank_accounts_popup.htm

Lots of banks also offer standard accounts that are also free.

Mags_cat

hansi wrote: »

megasav did say that he could not pay in that sort of amount!

Perhaps not always in one go, no - but with online banking you can usually just swap the same amount of cash backwards and forwards a couple of times to equal the amount required. As long as both accounts have FP it takes seconds to do.