Compare Our Best Online Bank Accounts

Keep track of your money with an online bank account. From app-based banking to easy online transactions, opening a bank account with one of the UK's best online banks is quick and simple.

8 results found, sorted by lowest account fee. How we order our comparisons.
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British Bank Awards: Best British Bank 2021 Winner
Starling Bank Current Account
Account fee & requirements
No monthly fee
Arranged overdraft
£8.54 buffer, then 15% EAR variable
Interest rate
0.05% AER (on up to £85,000)
Representative Example: If you use an arranged overdraft of £1,200 you will be charged 15% APR Representative/EAR variable. Subject to financial status.
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£10.05%0.05%0.05%0.05%
£85,0010%0%0%0%
Eligibility
Maximum AgeUnlimited
Maximum InvestmentUnlimited
Minimum Age18 years
Permanent UK Resident
Virgin Money M Plus Account
Account fee & requirements
No monthly fee
Arranged overdraft
19.9% EAR variable
Interest rate
2.02% AER (on up to £1,000)
Choose £150 with Virgin Experience Days or a £150 luxury case of Virgin Wines when you switch T&C apply. Earn interest of 2.02% on your current account. Set up Savings Pot for your savings goals and move money from your current account to your savings.
Representative Example: If you use an arranged overdraft of £1,200 you will be charged 19.9% APR Representative/EAR variable. Subject to financial status.
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£12%2%2.02%2.02%
£1,0010%0%0%0%
Eligibility
Maximum AgeUnlimited
Maximum InvestmentUnlimited
Minimum Age18 years
Receive £130 for switching. T&Cs apply.
First Direct 1st Account
Account fee & requirements
No monthly fee
Arranged overdraft
£250 interest free, then 39.9% EAR variable
Interest rate
0% AER
To qualify, switch using the Current Account Switch Service, deposit £1000 within 3 months of account opening.  New customers only that have not opened a HSBC account on or after 1 Jan 2018.
Representative Example: £250 interest and fee free overdraft, subject to status. If you then use an arranged overdraft of £1,200 you will be charged 39.9% EAR variable. Representative APR: 30.5%.
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£10%0%0%0%
Eligibility
Maximum AgeUnlimited
Maximum InvestmentUnlimited
Minimum Age18 years
Permanent UK Resident
Santander Everyday Current Account
Account fee & requirements
No monthly fee
Arranged overdraft
39.94% EAR variable
Interest rate
0% AER
You’re over 18 and live in the UK permanently.
Representative Example: If you use an arranged overdraft of £1,200 you will be charged 39.94% APR Representative/EAR variable. Subject to financial status.
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£10%0%0%0%
Eligibility
Maximum AgeUnlimited
Maximum Investment£2,000,000
Minimum Age18 years
Permanent UK Resident
Receive £150 for switching. T&Cs apply
HSBC Advance
Account fee & requirements
No monthly fee
Arranged overdraft
£25 interest free, then 39.9% EAR variable
Interest rate
0% AER
Representative Example: £25 interest and fee free overdraft, subject to financial status. If you then use an arranged overdraft of £1,200 you will be charged 39.9% EAR variable. Representative APR: 38.9%.
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£10%0%0%0%
Eligibility
Maximum AgeUnlimited
Maximum InvestmentUnlimited
Minimum Age18 years
TSB Spend & Save
Account fee & requirements
No monthly fee
Arranged overdraft
39.9% EAR variable
Interest rate
0% AER
Earn up to £30 cashback - £5 per month for 6 months, making 30 debit card payments per calendar month (direct debits/withdrawals excluded)*. Saving Pots, Save the Pennies and Auto Balancer features.
UK residents only, 18+.
Representative Example: If you use an arranged overdraft of £1,200 you will be charged 39.9% APR Representative/EAR variable. Subject to financial status.
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£10%0%0%0%
Eligibility
Maximum AgeUnlimited
Maximum InvestmentUnlimited
Minimum Age18 years
Permanent UK Resident
Santander 123 Lite Current Account
Account fee & requirements
£2 per month, pay in £500+ per month
Arranged overdraft
39.94% EAR variable
Interest rate
0% AER
You’re over 18 and live in the UK permanently.
Representative Example: If you use an arranged overdraft of £1,200 you will be charged 39.94% APR Representative/EAR variable. Subject to financial status.
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£10%0%0%0%
Eligibility
Maximum AgeUnlimited
Maximum InvestmentUnlimited
Minimum Age18 years
Minimum Monthly Credit£500
Permanent UK Resident
TSB Spend & Save Plus
Account fee & requirements
£3 per month
Arranged overdraft
£100 interest free, then 39.9% EAR variable
Interest rate
0% AER
Earn up to £60 cashback annually: £5 per month, ongoing with 30 debit card payments per calendar month on opening a new Spend & Save Plus account or changing an existing TSB account. Interest-free overdraft up to £100.
UK residents only, 18+.
Representative Example: £100 interest and fee free overdraft, subject to financial status. If you then use an arranged overdraft of £1,200 you will be charged 39.9% EAR variable. Representative APR: 40.1%.
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£10%0%0%0%
Eligibility
Maximum AgeUnlimited
Maximum InvestmentUnlimited
Minimum Age18 years
Permanent UK Resident

Compare another type of current account

We are classed as a credit broker for consumer credit, not a lender.

Our services are provided at no cost to you. We may receive a commission from the companies we refer you to, but this does not affect what you will pay for the product you choose.

What is an online current account?

An online bank account allows you to carry out your everyday transactions through the internet. These often called app-based bank accounts and are a recent industry innovation where the bank has no physical branches that you can visit.

It's a truly online bank account, where the bank exists as an app on your smartphone, which you can use to conduct most of your usual banking.

How to open a current account online

If you want to open a bank account online, it's simple and takes just a few minutes.

  • Visit the website of the bank of your choice, and filling out the application form for the type of account you want.

  • Provide your personal details such as your name, age, nationality and address, as well as supporting documents as proof of these.

What supporting documents are eligible for proof of ID and proof of address?

Supporting documents that are typically accepted include:

Proof of ID documents:

  • Drivers Licence (UK/EU/EAA)

  • UK passport, Foreign passport & Visa

  • EU and EEA National Identity Card

Proof of address documents:

  • Drivers Licence

  • UK utility bill (gas, electricity, water, home telephone)

  • Mortgage/rental agreements

  • Bank/Building Society statement

  • Council tax bill

Some online banks may also ask for additional details such as your occupation, income and expenses. Though this is not legally required, many banks often use this information to provide you with offers about other products and services in the future, such as credit cards or savings accounts.

How to choose the best online bank account

When comparing online bank accounts to decide on which one to get, here are some of the features you should look out for:

  • Monthly fees: Some banks may charge a monthly fee

  • Overdraft facilities: It can be useful to have an overdraft facility just in case your balance drops below zero

  • Earning on your balance: Some banks will pay you interest up to a certain amount of your balance.

  • Additional features: Some banks, especially app-based banks include budgeting and savings tools that help you manage your finances better

  • Add-ons: Some packaged accounts come included with facilities such as mobile phone insurance or breakdown cover.

  • Rewards: Some accounts offer rewards on your spending such as cashback or discounts on certain retailers.

You can find out more about what you need from your bank account here. Once you have found accounts that offer these features, check what their internet banking service includes.

What are the benefits of app-based bank accounts?

These accounts also offer several unique features such as:

  • Spending notifications

  • Ring fencing savings

  • Free cash withdrawals overseas

  • Budgeting tools

  • Rewards/add-ons

Online bank accounts FAQs

About our current accounts comparison

Further Information

Last updated: 14 May, 2021

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Why compare current accounts with money.co.uk?

Comparing current accounts could save you money on overdrafts, get you cashback on bills or see you paid more interest on positive balances. Our multiple award-winning comparison service helps make sure you get the best deal possible based on your individual circumstances. Our aim is to provide you with the most up-to-date information, as well as useful tools and calculators so to help you make life's most important decisions and take control of your money.

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