Best Banks and Accounts in the UK

HSBC UK is part of the global HSBC Group and offers a wide range of personal and business banking services. It provides international banking access, competitive interest on selected savings accounts, and intuitive digital platforms. Customers can open accounts online or in-branch, but a UK address and residency are required. While some accounts carry monthly fees, these can often be waived by meeting deposit or usage criteria. HSBC accepts U.S. citizens with appropriate FATCA documentation and allows non-EU nationals who reside in the UK. The bank’s Regular Saver account is especially popular for offering interest rates up to 4.00% with fixed monthly deposits.

Barclays UK is a leading high‑street bank offering competitive savings through its Tiered Savings and Online Savings accounts – APYs range from 3.7% to 4.1% as of mid‑2025. Savings accounts carry no monthly fees, and the Blue Rewards current account gives customers up to £5 cashback monthly with two direct debits. The previous £175 CASS switch bonus has ended, though targeted offers (e.g., £75/£75) appeared in early 2025. Barclays caters to UK residents – including U‑S. citizens – and is available via online and branch channels. One potential downside is non-GBP transaction charges and occasional premium account fees.

Lloyds Bank, one of the UK’s largest high-street banks, currently offers a £185 welcome switching bonus to new and existing customers (Club Lloyds or Premier) via the Current Account Switch Service, valid until 28 July 2025. Its Monthly Saver pays a fixed rate of 6.25% AER on monthly deposits up to £250, paid annually. Club Lloyds now includes no foreign transaction or ATM fees abroad – though the monthly fee rose from £3 to £5 from June 2025, which is waived with a monthly pay-in of at least £2,000. The account also offers perks such as Disney+, cinema tickets, and travel benefits. Watch for fee eligibility rules and structured benefits, but Lloyds remains a strong choice for savers and switchers wanting high-rate savings and international spending perks.

NatWest offers a compelling switching incentive: £125 for opening a Reward (or higher-tier) current account through CASS, plus £50 more if you open a Digital Regular Saver within 60 days and meet £1,250 pay‑in and login conditions – totalling £175. The Digital Regular Saver offers strong returns: up to 5.50% AER on the first £5,000 saved, with a lower tier rate above that. The Reward current account also includes £4 monthly cashback for meeting pay-in, direct debit, and app login criteria [oai_citation:1‡natwest.com](https://www.natwest.com/current-accounts/compare-bank-accounts.html?utm_source=chatgpt.com). However, NatWest has recently cut savings rates (e.g., Digital Regular Saver tier above £5k dropping from 6.17% to 5.50%) following BoE interest rate cuts. The bank supports UK residents, including U.S. citizens with FATCA compliance. Its savings and current account features make it a strong option for cash rewards and high introductory savings rates.

Santander UK offers a compelling £180 switch bonus when customers use the Current Account Switch Service to open or switch an eligible account – Edge, Edge Up, Everyday, or Private – then pay in £1,500 and set up two household Direct Debits within 60 days. Their Edge Saver pays 6.00% AER on balances up to £4,000 (incorporating a 2% bonus for the first 12 months), with the rate reducing to approximately 4.00% thereafter. Although the Edge current account carries a £3 monthly fee, Santander waives ATM and card fees abroad, and Edge Up adds up to £15 cashback on bills and travel. Santander accepts U.S. citizens (FATCA-compliant) and non‑EU residents living in the UK. This makes Santander UK a strong choice for savers seeking high interest during the bonus period, international spenders, and those switching accounts for a one-time reward.

Standard Chartered UK serves as the UK arm of the global Standard Chartered network, primarily targeting premium banking and wealth management customers. It offers Sterling term deposits with competitive rates (~3% APY over 3–12 months), along with multi-currency products suitable for international clients. Standard retail savings accounts yield around 1.0–1.5%. There are no monthly fees on basic accounts, though premium or wealth tiers may incur charges. Account opening is typically by appointment at UK branches and requires UK residency. Standard Chartered accepts both U.S. and non‑EU customers, provided they meet residency and compliance requirements. Best suited for individuals seeking fixed-term deposit options combined with global banking services.

Nationwide Building Society is the largest building society in the UK, offering a range of savings and current accounts focused on the UK market. It is known for competitive interest rates on savings products, especially regular saver accounts, and a strong commitment to customer service through its extensive branch network. Nationwide does not charge monthly fees on its standard accounts and supports online and in-branch account opening for UK residents only. Its services are primarily domestic-focused, without significant international or multi-currency banking options. The society welcomes U.S. citizens residing in the UK, subject to regulatory compliance. Nationwide is a reliable choice for customers seeking stable and community-oriented banking.

TSB Bank offers everyday banking with a no-frills approach, making it a solid option for UK residents looking for simplicity and clarity. While it may not match neobanks in terms of digital innovation, it delivers dependable service through its mobile app and wide branch network. Some current accounts offer cashback and extras, and savings accounts provide modest interest. International features are limited, but UK-based users – including U.S. and non-EU residents with proper documentation – can open and manage accounts easily. TSB stands out for its plain-language policies, helpful in-branch service, and commitment to transparency in fees.

Metro Bank sets itself apart with its customer-first, high-street approach – offering walk-in banking, same-day account openings, and on-the-spot debit card issuance. It appeals to those who value human interaction and physical service points, especially in urban areas. While its digital features lag behind app-focused challengers, Metro provides a refreshingly personal banking style. It’s a good fit for U.S. and non-EU residents living in the UK, as long as you can visit a branch. Their savings rates are not market-leading, but Metro compensates with convenience, transparency, and a strong customer service reputation.

Monzo is one of the UK’s leading digital challenger banks, known for its intuitive app, real-time alerts, and smart budgeting tools. It’s ideal for modern users who want full control of their finances through their phone. Monzo offers both free and premium accounts with perks like travel insurance, higher interest, and metal cards. Though it lacks branches, it supports cash deposits via PayPoint and provides top-tier customer service in-app. U.S. and non-EU citizens can open an account with valid UK residence. Its savings options are competitive through partner banks, making Monzo a standout for tech-savvy customers.

Starling Bank has earned a stellar reputation for its user-first approach, offering one of the most complete digital banking experiences in the UK. It blends zero fees, award-winning support, and easy account management all within its slick mobile app. Unlike many neobanks, Starling pays interest directly on your current account balance and offers solid tools for saving and budgeting. While it lacks physical locations, you can deposit cash via Post Office branches. With high customer satisfaction scores and strong financial backing, Starling is ideal for anyone seeking a smart, flexible, and fee-free bank account.

Revolut UK stands out as a financial super-app offering powerful tools for spending, saving, investing, and currency exchange. While technically not a full UK bank (yet), it operates under an e-money license and is regulated by the FCA. With a free plan that includes currency exchange and budgeting features, and paid plans unlocking cashback, insurance, and higher savings rates, Revolut appeals to tech-savvy users. Its global support for currencies and investments makes it especially attractive for travelers, expats, and digital nomads. However, limitations on free withdrawals and the lack of FSCS protection may be a downside for more traditional users.

Atom Bank is the UK’s first app-only bank, focused entirely on delivering competitive savings products and streamlined mortgages. With no physical branches and a minimalist approach to banking, Atom appeals to digital-native users who value high interest rates and simplicity. The bank regularly tops savings rate comparison charts and offers a secure, biometric login through its app. However, it does not provide current accounts, debit cards, or international services, which may limit its appeal for day-to-day banking. Atom is regulated by the Prudential Regulation Authority and covered by the FSCS, offering peace of mind for savers.

Allica Bank is a UK-based digital bank tailored for small and medium-sized enterprises. While it doesn’t serve personal account holders, it has become a go-to for high-yield business savings and tailored lending solutions. Allica is praised for its customer service model, offering dedicated relationship managers to guide businesses through their growth. The platform operates without retail branches, focusing instead on seamless digital onboarding and financial support for entrepreneurs. Although lacking a full-feature mobile app, Allica’s competitive savings rates and transparent business approach make it a rising star in the UK fintech scene.

Virgin Money UK offers a modern and dynamic banking experience, blending strong savings products with sleek tech. Known for its user-friendly app and competitive fixed-term rates, it appeals to digitally savvy savers and current account holders seeking extras like travel insurance or cashback. While not as branch-heavy as traditional banks, Virgin compensates with intuitive digital access and app-exclusive offers. It’s a solid choice for UK residents looking to earn decent returns without navigating excessive fees or confusing account structures.