Guide to Choosing the Best Free Bank Account in the UK

authorThe Banxe Team
time 7 min read date 15.05.2024
image delimiterBlog

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With so many possibilities, picking the best free bank account in the UK could seem daunting. This article will show you the ropes if you're looking for a fee-free bank account. We will discuss the features various banks offer, the quality of their customer service, and the ease of accessing your money.

Whatever your situation, whether you are a student, a full-time worker, or someone seeking to transfer banks, we will assist you in finding the ideal solution. To find out which free bank account is best for you, read on!

Understanding Free Bank Accounts

As its name implies, a free bank account does not charge monthly maintenance fees. If you want to manage your daily finances without worrying about monthly fees, this account is yours.

Common Features:

  • Cost Free: There is no regular monthly price for users to keep their accounts up and running.

  • App Banking: Managing money has never been easier than with the Internet and mobile phone banking.

  • ATM Withdrawals: You can withdraw payments at ATMs, and in some situations, a network of other ATMs is free of charge.

  • Direct Debits: These accounts allow you to set automatic subscription payments via standing orders and direct debit.


  • Limited Branch Access: Some free accounts can only be accessed online, so you won't be able to visit a branch in person for all of your banking needs.

  • Overdraft Fees: While the account might not cost you a dime, overdraft fees can add up quickly.

  • Min Balance Requirement: To unlock premium services, you need to have a minimum required payment in your account.

  • Interest and Perks: The % of interest and number of benefits offered by free accounts are usually lower than those offered by premium accounts.

Key Features to Look for in a Free Online Banking Account

When looking for a free bank account, remember a few vital characteristics so you can get the most out of your money and banking experience. Here are some of the key features to look for:



Why It Matters

No Monthly Fees

These accounts don’t have an account maintenance fee.

It helps reduce banking costs.

Free ATM Withdrawals

They allow free withdrawals from ATMs.

It helps save expenses on daily transactions.

Internet and Mobile Banking

They help access banking accounts using your phone.

It provides accessibility and comfort.


These accounts allow you to earn interest % on the money present in them.

It helps you grow your balance with ease.

Customer Support

These accounts have customer support via branch, phone, and online.

It helps resolve queries with ease.

Important! When you check the free banks in the United Kingdom, check how the features of the bank align with your personal or business needs.

The Top Banks Offering an Online Free Bank Account in the UK

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There has never been a more simpler time to manage your money than now. Thanks to the rise of online banking, you can access your account whenever and wherever you like.

Several UK banks provide services through free online bank accounts, they don’t require a monthly charge. Here are the top banks offering a free online banking account in the UK:


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Banxe is an advanced financial platform for companies seeking creative and adaptable banking options. It is perfect for a digital-first workplace because it offers multi-currency accounts that support over 350 cryptocurrencies in addition to regular fiat currencies.

Dedicated IBANs, quick local and international transfers via SWIFT, FPS/CHAPS, and SEPA, and competitive real-time currency exchange rates benefit businesses.

Sophisticated security protocols, such as 3D Secure, guarantee secure transactions, and their incorporation with business tools enhances operational effectiveness. With the Pro Wallet feature, digital assets may be managed securely and completely under your control.


  • Multi-currency transactions with fiat and crypto;

  • Dedicated IBAN and local transfers via FPS/CHAPS, SEPA, and SWIFT;

  • Real-time currency exchange;

  • Advanced security protocols;

  • Integration with business tools like accounting software;

  • Pro Wallet for secure cryptocurrency management.


  • It is not a traditional bank, so some conventional banking services might be limited;

  • Users must be comfortable with digital and cryptocurrency transactions;

  • Limited in-person services, focusing mainly on digital solutions.


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One of the many products offered by the worldwide financial services firm Barclays, which has a substantial presence in the United Kingdom, is a fee-free Internet banking account.

With a mobile banking app feature and extensive ATM access, Barclays strives to offer consumers effective and accessible services. It is known for its stringent security measures and creative banking technologies.


  • Vast ATM network in the United Kingdom;

  • Innovative features for mobile banking;

  • Free digital transfers and payments;

  • Personalized security features and warnings.


  • High overdraft fees for unauthorized borrowing;

  • Customer service can be slow to respond;

  • Some services require branch visits;

  • Limited international features in basic free accounts.


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With a clientele worldwide, HSBC offers a wide range of banking and financial services, making it one of the biggest organizations of its kind. With HSBC's Basic Bank Account, customers in the UK may enjoy free, no-fee online banking, with features that make it easy to access and transact with clients worldwide.


  • Accessible worldwide, beneficial for travelers;

  • Advanced mobile banking app;

  • Options for currency accounts;

  • Regular updates and technology improvements.


  • Strict criteria for account opening;

  • Limited incentives for saving;

  • Fewer perks compared to paid accounts;

  • Some users report delays in setup and verification processes.


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The Everyday Current Account is one of the simple, fee-free financial solutions offered by Santander UK, a subsidiary of the worldwide Santander group. Regular customers love this bank because of its ease of use and perks, such as cashback on home expenses.


  • Cashback on household bills;

  • No daily fees for overdrafts;

  • User-friendly online banking interface;

  • Good options for joint accounts.


  • Fewer physical branches;

  • Basic level of features without premium options;

  • Higher costs for certain types of transactions;

  • The online banking interface lacks some modern functionalities.


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The biggest building society in the world, Nationwide, is unlike other banks; instead, it reinvests its earnings back into its members.

The FlexAccount is available with no monthly fees and emphasizes customer care. It offers free transactions to European countries and a reliable branch network all over the UK for people who would instead do their banking in person.


  • No fees for transactions in Europe;

  • Comprehensive UK branch network;

  • Engaging customer service;

  • Competitive rates on linked savings accounts.


  • Basic online features without additional perks;

  • No interest on current account balances;

  • Limited rewards or loyalty programs;

  • Overdraft terms could be better compared to competitors.


You should carefully consider your financial situation before deciding on the finest free bank account in the UK. Thanks to this article, you should now better grasp the concept of a free bank account, how to identify the best ones, and which banks supply them.

Remember that your specific requirements and situation will determine which bank account is ideal for you. Make a well-informed choice after carefully considering your alternatives and comparing the features of other accounts.

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