Best Banks and Accounts in the UK
The UK banking market in 2025 remains highly competitive, with a strong mix of traditional institutions and fast-growing digital challengers. Consumers are increasingly gravitating toward mobile-first experiences, driving innovation in personal finance tools, savings platforms, and instant payments. While regulatory oversight remains strict, the shift toward Open Banking and embedded finance continues to reshape customer expectations. The trend points toward more personalized, fee-transparent banking with a continued decline in reliance on physical branches.
| Bank | Rating | APY | Bonus | Monthly Fee | Link |
|---|---|---|---|---|---|
| Monzo Popular Digital Bank |
4.8/5 | Up to 4.60% | £5–£15 cashback | £0–£5 | Visit Monzo |
| Starling Bank Top-Rated App Experience |
4.7/5 | Up to 3.25% | N/A | £0 | Visit Starling |
| Chase UK High Savings Rates + Cashback |
4.6/5 | Up to 5.10% | 1% cashback for 12 months | £0 | Visit Chase UK |
| Allica Bank Best for Business & Savings |
4.5/5 | Up to 5.20% | N/A | £0 | Visit Allica Bank |
| Barclays UK’s Longstanding Bank |
4.4/5 | Up to 4.21% | Blue Rewards up to £5/mo | £0–£5 | Visit Barclays |
| HSBC UK Global Bank with UK Focus |
4.3/5 | Up to 3.90% | £100 switch bonus (limited) | £0–£10 | Visit HSBC UK |
| NatWest Strong Cashback Offers |
4.2/5 | Up to 3.50% | £200 switching offer | £0–£2 | Visit NatWest |
| Lloyds Bank Club Lloyds & Cashback |
4.1/5 | Up to 4.00% | £175 switch bonus | £0–£3 | Visit Lloyds Bank |
| TSB Cashback & Digital Services |
4.0/5 | Up to 3.00% | £100 cashback (switching) | £0–£3 | Visit TSB |
| Virgin Money Best for Savings & Lounge Access |
3.9/5 | Up to 4.47% | Virgin Experience vouchers | £0 | Visit Virgin Money |
The list of Leading Banks in the UK
HSBC UK
HSBC UK
- Global banking access with international support
- Competitive savings rates via Regular Saver (up to 4.00%)
- User-friendly online and mobile banking platforms
- Monthly fees (£0–£10) on some accounts unless eligibility is met
- Account opening limited to UK residents with address proof
Read more ↓
| APY | Up to 4.00% (Regular Saver) |
|---|---|
| Currency | GBP |
| Account Opening | Online & in-branch (UK residents only) |
| Monthly Fee | £0–£10 depending on account |
| U.S. Citizens | Yes (FATCA compliance required) |
| Non‑EU | Allowed if legally residing in the UK |
| Annual Interest | Paid monthly (Regular Saver/ISAs) |
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
Barclays UK
- Highly rated online savings with APY up to 4.10%
- No monthly fees on savings accounts
- Blue Rewards allows up to £5 cashback per month
- Switching bonus currently paused (last was £175)
- Some transaction fees may apply (e.g., non-sterling)
Read more ↓
| APY | Up to 4.10% on Tiered Savings; 3.7–3.9% on Online Savings |
|---|---|
| Currency | GBP |
| Account Opening | Online or in-branch (UK residents) |
| Monthly Fee | £0 (savings accounts); current accounts vary |
| U.S. Citizens | Yes (FATCA compliance) |
| Non‑EU | Allowed if resident in UK |
| Annual Interest | Paid monthly on savings |
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
Lloyds Bank
- Attractive switching bonus of £185 via CASS
- Up to 6.25% fixed interest on Monthly Saver
- No foreign fees for Club Lloyds customers abroad
- Monthly Club Lloyds fee rising to £5 unless £2,000 deposit met
- Fee waivers tied to deposit thresholds and eligibility criteria
Read more ↓
| APY | 6.25% fixed (Monthly Saver); ~4% on Club Saver |
|---|---|
| Currency | GBP |
| Account Opening | Online or in-branch (UK residents) |
| Monthly Fee | £5/month (waived with ≥£2,000 monthly pay-in) |
| U.S. Citizens | Yes (subject to FATCA) |
| Non‑EU | Allowed if UK resident |
| Annual Interest | Monthly on savings products |
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
NatWest
- £125 switch bonus + £50 when opening Digital Regular Saver
- Digital Regular Saver offers up to 5.50% AER on first £5,000
- Monthly cashback rewards available with Reward current account
- Switching offer only available to non-current account holders as of 24 June 2025
- Some savings rates have been reduced following interest rate cuts
Read more ↓
| APY | Digital Regular Saver: 5.50% AER on £1–5k, 1.15% above; Flexible Saver tiers 1.15–2.55% AER |
|---|---|
| Currency | GBP |
| Account Opening | Online or in‑branch (UK residents) |
| Monthly Fee | £0 for savings; current account eligibility applies for cashback tier |
| U.S. Citizens | Yes (FATCA compliance) |
| Non‑EU | Allowed if resident in the UK |
| Annual Interest | Paid monthly |
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
Santander UK
- £180 switch bonus via CASS with qualifying deposits & direct debits
- Up to 6.00% AER on Edge Saver (up to £4k, includes 2% bonus year‑one)
- Fee‑free overseas ATM & card spending on Edge accounts
- £3 monthly fee for Edge current account
- Saver bonus drops to ~4.00% after 12 months
Read more ↓
| APY | 6.00% AER on Edge Saver ≤ £4k (includes 2% bonus year‑one), then ~4.00% |
|---|---|
| Currency | GBP |
| Account Opening | Online or in‑branch (UK residents) |
| Monthly Fee | £3 (Edge); Everyday account £0 |
| U.S. Citizens | Yes (FATCA compliance) |
| Non‑EU | Allowed if UK resident |
| Annual Interest | Paid monthly on savings |
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
Standard Chartered UK
- Competitive fixed-term Sterling deposit rates (≈3.0% for 3–12 mo term)
- Global banking network with multi-currency support
- No monthly current account fees in certain tiers
- Standard current accounts offer low base savings rates (~1.0–1.5%)
- Primarily business/wealth-focused – retail options limited in UK
Read more ↓
| APY | ≈1.0–1.5% (standard savings); ≈3.0% for 3–12 mo GBP term deposits |
|---|---|
| Currency | GBP (plus multi-currency) |
| Account Opening | By appointment/in-branch (UK residents) |
| Monthly Fee | £0 for standard accounts; fees apply for premium/wealth tiers |
| U.S. Citizens | Yes (FATCA compliance) |
| Non‑EU | Allowed if UK resident |
| Annual Interest | Paid at maturity for deposits; monthly/quarterly for savings |
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
Nationwide Building Society
- UK’s largest building society with a strong community focus
- Competitive savings rates, including regular saver accounts
- No monthly fees on basic accounts
- Extensive branch and ATM network in the UK
- Account opening restricted to UK residents only
- Limited international services or multi-currency options
Read more ↓
| APY | Up to ≈3.5% on selected savings accounts |
|---|---|
| Currency | GBP |
| Account Opening | Online or in-branch (UK residents only) |
| Monthly Fee | None on standard accounts |
| U.S. Citizens | Allowed if UK resident |
| Non‑EU | UK residents only |
| Annual Interest | Paid monthly or annually depending on account type |
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
TSB Bank
- Transparent fees and straightforward account options
- Good mobile app with budgeting tools
- Cashback and rewards with select current accounts
- Strong presence across UK towns and cities
- Limited interest on everyday savings
- Few features for international or business users
- Mobile app less advanced than digital-native banks
Read more ↓
| APY | ≈1.5% on select savings accounts |
|---|---|
| Currency | GBP |
| Account Opening | Online or in-branch (UK only) |
| Monthly Fee | £0–£3, depending on account |
| U.S. Citizens | Yes (with UK address & ID) |
| Non‑EU | Yes, if UK resident with documentation |
| Annual Interest | Paid monthly on eligible accounts |
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
Metro Bank
- Open 7 days a week with extended branch hours
- Instant debit card printing in-branch
- No foreign transaction fees on EU card payments
- Friendly customer service and walk-in account setup
- Relatively low APY on savings products
- Limited digital-only banking features
- Branch-centric model not ideal for remote users
Read more ↓
| APY | ≈1.35% on regular savings |
|---|---|
| Currency | GBP |
| Account Opening | In-branch or online (UK only) |
| Monthly Fee | £0 on standard accounts |
| U.S. Citizens | Yes (UK proof of address required) |
| Non‑EU | Yes, with valid UK visa and ID |
| Annual Interest | Paid monthly on eligible accounts |
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
Monzo
- Top-rated mobile app with instant payment notifications
- Fee-free spending abroad (up to limits)
- Strong budgeting and savings tools (Spaces & Pots)
- Joint accounts, loans, overdrafts, and savings all in one place
- Free cash withdrawals abroad limited to £200/month
- No physical branches for in-person banking
- Premium plans come with monthly fees
Read more ↓
| APY | Up to 4.60% AER on savings (via partner banks) |
|---|---|
| Currency | GBP |
| Account Opening | Fully online via mobile app |
| Monthly Fee | £0 (Premium plans: £5–£15) |
| U.S. Citizens | Yes (UK address required) |
| Non‑EU | Allowed with UK residency and valid ID |
| Annual Interest | Paid monthly on savings Pots |
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
Starling Bank
- Fully-featured current account with no monthly fee
- Free UK and international spending with Mastercard
- Built-in savings Spaces and round-up tools
- 24/7 in-app customer support
- No branch network (app-only)
- Cash deposit via Post Office only
- Limited investment or credit product range
Read more ↓
| APY | 3.25% AER on balances up to £5,000 |
|---|---|
| Currency | GBP |
| Account Opening | Fully online via mobile app |
| Monthly Fee | £0 (all core features included) |
| U.S. Citizens | Yes (UK residency required) |
| Non‑EU | Allowed with UK residency and ID |
| Annual Interest | Paid monthly on account balance |
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-based fintech)
Revolut (UK)
- Multi-currency accounts with real exchange rates
- Highly customizable budgeting and analytics tools
- Crypto, stocks, and commodities available in-app
- No-fee global spending on Standard plan
- Free cash withdrawals limited to £200/month (Standard)
- No FSCS protection (e-money license, not a full UK bank)
- Complex tier system for features
Read more ↓
| APY | Up to 4.25% AER (Ultra plan) |
|---|---|
| Currency | GBP, EUR, USD + 25 others |
| Account Opening | Instant via mobile app |
| Monthly Fee | £0–£55.99 depending on plan |
| U.S. Citizens | Yes (if UK resident) |
| Non‑EU | Allowed in supported regions |
| Annual Interest | Daily interest on savings vaults |
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
Atom Bank
- Market-leading interest rates on fixed savings
- No branches – fully app-based experience
- Simple account setup with biometric login
- FSCS protected up to £85,000
- No current accounts or cards – savings only
- App required to manage all features
- Limited customer support channels
Read more ↓
| APY | Up to 5.10% on fixed-term savings |
|---|---|
| Currency | GBP |
| Account Opening | App-only (UK residents) |
| Monthly Fee | None |
| U.S. Citizens | No |
| Non‑EU | Not supported |
| Annual Interest | Paid annually or on maturity |
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
Allica Bank
- High-yield business savings accounts
- Strong focus on UK SMEs and entrepreneurs
- FSCS-protected deposits up to £85,000
- Dedicated relationship managers for businesses
- Primarily for business, not personal banking
- No mobile app for savings customers (yet)
- Limited in-branch access (online-focused)
Read more ↓
| APY | Up to 5.20% on 12-month business savings |
|---|---|
| Currency | GBP |
| Account Opening | Online (UK-registered businesses only) |
| Monthly Fee | None for savings accounts |
| U.S. Citizens | No |
| Non‑EU | UK business entities only |
| Annual Interest | Paid on maturity or monthly (varies) |
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
Virgin Money UK
- Competitive fixed-rate savings up to 5.25%
- Sleek and easy-to-use mobile app
- Fee-free current accounts with perks
- FSCS protection on eligible deposits
- Limited branch presence compared to legacy banks
- Customer service wait times can vary
- Some savings products require app-only access
Read more ↓
| APY | Up to 5.25% on fixed-term savings |
|---|---|
| Currency | GBP |
| Account Opening | Online, app, or in-branch (UK only) |
| Monthly Fee | None for standard accounts |
| U.S. Citizens | Not currently accepted |
| Non‑EU | UK residents only (proof required) |
| Annual Interest | Paid monthly or at maturity |
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.
How we rate UK bank accounts
Our scoring system is based on what truly matters to people in the UK when choosing a bank. Through research and feedback, we’ve identified eight core areas that reflect the everyday banking experience. These include how well a bank’s app performs, how easy and affordable it is to send or receive money, the quality of customer support, and how accessible the account is online or in person. We also take into account the range of payment options available, the presence of useful extra features, any regular account fees, and the cost of using your card abroad. Together, these factors help us build a balanced and realistic picture of how each bank performs.
UK’s Banks – FAQ
How do I choose the best bank account for my lifestyle?
With so many options, it can feel overwhelming. Think about your daily habits – do you travel often, prefer digital banking, or want cashback perks? Matching features to your needs helps narrow down the best fit.
Are online-only banks safe and reliable?
Digital banks have grown rapidly, but how secure are they? Most are regulated and use top-notch security, but understanding their protections and support options is key before making the switch.
What hidden fees should I watch out for in UK bank accounts?
Beyond monthly charges, banks may have fees for overseas spending, ATM withdrawals, or even account inactivity. Knowing these can save you unexpected costs down the line.
Can I open a UK bank account if I’m not a UK resident?
Non-residents face extra hurdles, but it’s often possible with the right documents. Some accounts are designed specifically to welcome overseas customers – what you’ll need and how to apply varies.
What’s the difference between a current account and a savings account?
Current accounts are for daily spending and bill payments, while savings accounts help you grow your money over time. Some banks offer hybrid options – but which suits your goals?
How important is customer service when choosing a bank?
Great support can make all the difference during issues or questions. Many customers rate quick response times and helpfulness above fancy perks.
Are contactless and mobile payments accepted everywhere in the UK?
Most places now accept contactless cards and mobile wallets, but some smaller businesses or rural areas may still prefer cash. It’s handy to carry a backup payment method.
Can I switch banks easily if I’m unhappy?
The UK has streamlined switching services, making it simple to move your account without hassle. Understanding the process ensures a smooth transition with minimal downtime.
What new banking trends should I watch for in the UK market?
From AI-powered budgeting tools to green banking initiatives, the UK’s banking scene is evolving fast. Keeping an eye on innovations can help you find accounts that do more than just hold your money.
How do banks protect my money if they run into trouble?
Financial safeguards like deposit protection schemes cover your savings up to a certain amount, giving peace of mind even if a bank faces difficulties.