The Best Bank?

dawid1914

there's so much choice in the UK if I wanted to just open a current account and I was a regular person earning an average salary and have an average expenditure, where should I go?

All i know is I've been told to stay away from HSBC lol

eskbanker

dawid1914 wrote: »

where should I go?

https://www.moneysavingexpert.com/banking/compare-best-bank-accounts/

worried_jim

Monzo or Starling or both.

JuicyJesus

The best bank is Barclays.

I mean it's not, and there's still lots of variables there, but you wanted a simple answer so you have one.

feta

The mobile-only banks, such as Starling and Monzo have good budgeting tools and instant notifications for almost everything.

I'd also suggest having a look at Nationwide FlexDirect. It seems to me that it offers a great rate on the current account and it has a savings account with 5% interest which allows withdrawals.

Saying that, I think you should probably do a bit of research on the MSE bank account comparison section to check which account fits your needs best. And you can always switch or open another account after a few months if your choice doesn't seem to be working for you.

pinkdalek

Depends on what is important to you as the functionality is pretty much the same from bank to bank.

As others have stated start somewhere and then it's easy to switch these days plus many offer incentives for doing so - Nationwide/Halifax/1st Direct/Nat West.

agrinnall

Although if what you want is really the best bank then that rules out Nationwide (even though it is my primary Financial Institution).

Brewer20

We've got (wife and myself) 3 accounts with First Direct, we use them for everyday banking as a main bank.
I am loath to close any accounts with them as they have been so reliable, the good service marks they achieve are true, well have been for us. Drawback you don't get interest with their current accounts that's why I stick my money elsewhere and we have a few accounts between us. They do a regular saver which is good @5% also currently have a credit card with them. Use HSBC branches if you need to go in a bank or paying in cheques we just use the PO. They say you shouldn't stay loyal to any company but after 25 years we are staying put.

Katiehound

Another consideration- do you need a local branch? These are a rapidly diminishing commodity..
Do you need to pay in cash?
Do you want a telephone banking line that has a real person?
Are you going to manage it all online?or with an app

in view of the problems lately with TSB (and others) it may well be advisable to have 2 accounts with different banks incase there is an IT meltdown!

I've had no problems with HSBC!I was suitably rewarded when I switched.
You need to form your own judgements.......

jimjames

Tesco. 3% on the balance of your account up to £3k is better than any other bank at the moment.

dont_use_vistaprint

Barclays - No interest, good app although doesn't support fingerprint login yet, very reliable company when things go wrong. Nationwide Flex - 3% on £2.5k balance + £250 a month at 5%, decent app, although regular payments have to be setup on a computer. Halifax - £2 monthly reward, good app.