Traditional banks, online banks, neobanks and building societies. Compare fees, savings, mortgages and cards.
This comparison puts 10 banks in the United Kingdom side by side, among them Barclays, HSBC, Lloyds Bank, NatWest. They belong to different families, branch banks, neobanks, cooperative banks, online banks, and that distinction explains most of the pricing differences: a branch bank charges for the account and the branch network, an online bank rarely charges for the account but sends you to the phone, and a neobank costs almost nothing and almost never lends. The table compares account fees, the debit card, overdraft, savings, mortgages, foreign transaction costs and mobile payment, line by line and without an overall score, because an average hides exactly what matters to you. Dedicated offers are broken out for students, youth, premium and business, because the account that suits a student on no income is rarely the one that suits a business.
Select 2 to 4 banks.
Traditional Banks
Neobanks
Online Banks
Building Societies
| Criteria | Barclays Traditional | Monzo Neobank | Nationwide Building Society |
|---|---|---|---|
Monthly Fee | Free (Blue Rewards £5/mo optional) | Free (Extra £3, Perks £9, Max from £19/mo) | Free (FlexDirect, FlexAccount), FlexPlus £18/mo |
Debit Card | Visa Debit | Mastercard Debit | Visa Debit |
Minimum Balance | None | None | None |
Overdraft | Overdraft at 35.0% (variable) | By eligibility: 19, 29 or 39% EAR, up to £2,000 | Overdraft 39.9% (0% on first £50) |
Mobile App | Full-featured app | Award-winning app | Full-featured app |
Branches | Nationwide branch network | 100% mobile | Nationwide branch network |
Instant Transfer (Faster Payments) | Faster Payments free | Faster Payments free | Faster Payments free |
Savings | Rainy Day Saver 3.96% AER (up to £5,000) | Instant Access 2.75% to 3.50% AER by plan, 1-year fixed 4.70% | FlexDirect 5% AER for 12 months up to £1,500, then 1% |
Mortgage | Full range of mortgages | Not available | Full range, member benefits |
Investing | Smart Investor: ISA, SIPP, stocks, ETFs | Monzo Investments (funds) | ISA, funds |
Credit Cards | Barclaycard (Avios, cashback) | Monzo Flex | Nationwide Credit Cards |
Apple / Google Pay | Apple Pay + Google Pay | Apple Pay + Google Pay | Apple Pay + Google Pay |
Cheques | Chequebook available | Not available | Chequebook available |
Foreign Fees | No fees via the app's multi-currency wallet | 0% on payments; cash outside EEA free up to £200/30 days then 3% | 0% (no Nationwide fees) |
Welcome Bonus | Up to £300 (£150 on switch + £150 after 5 months) | – | £175 on switch |
Students, youth, premium and business.
| Bank | Available | Offer | Price | Card | Details |
|---|---|---|---|---|---|
Barclays | Barclays Student Account | £0/mo | Visa Debit | Interest-free overdraft: £500 in first term, £1,000 in year 1, £1,500 after | |
HSBC | HSBC Student Account | £0/mo | Visa Debit | Interest-free overdraft: £1,000 on opening, up to £3,000 by year 3 | |
Lloyds Bank | Lloyds Student Account | £0/mo | Visa Debit | £100 cash (£500 paid in by 30/10/2026), up to £120 Deliveroo vouchers, no fees abroad | |
NatWest | NatWest Student Account | £0/mo | Visa Debit | £100 + 4-year tastecard; interest-free overdraft £500, then £2,000, £3,250 from year 3 | |
Monzo | Monzo (compte gratuit) | £0/mo | Mastercard Debit | Free, budgets, savings pots, bill splitting | |
Revolut | Revolut Standard | £0/mo | Visa / Mastercard Debit | Free, multi-currency, free cash £200/mo or 5 withdrawals | |
Starling Bank | Starling (compte personnel) | £0/mo | Mastercard Debit | Free, Spaces, no fees abroad | |
Nationwide | FlexStudent | £0/mo | Visa Debit | Interest-free overdraft up to £1,000 in year 1, £3,000 by year 3; £100 for freshers | |
Chase UK | Chase Current Account | £0/mo | Mastercard Debit | Free, 2% cashback up to £20/mo, no fees abroad | |
Santander UK | Santander Edge Student | £0/mo | Visa Debit | £1,500 interest-free overdraft for the first 3 years of study |
* Most banks offer a free student account with an interest-free overdraft granted in stages (up to £3,000 or £3,250 by year 3).
Our recommendations based on your situation.
Free account, interest-free overdraft, great for starting out.
Nationwide: interest-free overdraft up to £3,000 by year 3, no fees abroad, branch network. Barclays: interest-free overdraft up to £1,500, branch network.
Best value with comprehensive services.
Chase UK: free, 2% cashback up to £20/mo, 2.25% AER savings (4.5% in year 1 for new customers), no fees abroad. Monzo Extra (£3/mo): advanced budgets, savings pots at 3.00% AER.
Need in-branch advice and mortgage.
Nationwide: building society, full mortgage range, FlexPlus (£18/mo) with insurance, branch network. Lloyds: Club Lloyds with fixed savings up to 6.25%, full range.
Minimise forex fees and withdraw everywhere.
Starling: no fees abroad, cash up to £300/day, award-winning app. Revolut Metal (£14.99/mo): no fair-usage limit on exchange, travel insurance.
Affordable and flexible business account.
Starling Business: no monthly fee, payments to 34 countries, cheque deposits via app. Monzo Business: free Lite with Making Tax Digital software, Pro at £9/mo with invoicing and accounting.
Premium services and wealth management.
HSBC Premier: £100k income or savings, travel insurance and online health services included, £500 switch bonus. Barclays Premier: £75k income or £100k savings, switch bonus up to £600.
For cashback and no fees: Chase UK (2% up to £20/mo, free). For branch network: Nationwide or Barclays. For mobile banking: Monzo or Starling (100% mobile, no fees on card payments abroad). The right choice depends on how you bank: a neobank covers everyday spending and travel, while a high-street account remains useful for paying in cash and arranging a mortgage.
The Financial Services Compensation Scheme (FSCS) protects up to £120,000 per depositor per institution in the UK (£240,000 for joint accounts). Monzo, Starling, Chase UK and Revolut, which holds a UK banking licence, are covered. The limit applies per depositor and per banking licence, so several brands under the same authorised firm (Nationwide and Virgin Money, for example) share a single layer of protection, worth checking before spreading large savings.
The Current Account Switch Service (CASS) lets you switch banks in 7 working days. All standing orders and direct debits are automatically transferred. The service is free and guaranteed. The switch is guaranteed within seven working days, payments sent to the old account are redirected for three years, and any error by the bank must be refunded.
Monzo for budgeting and user experience. Starling for no fees abroad and a business account with no monthly fee. Revolut for multi-currency and investing. Note, however, that these providers have no branches: paying in cash goes through the Post Office or partner outlets, usually with a cap and a fee (0.7%, min. £3 at Starling Business).
Nationwide FlexStudent: interest-free overdraft up to £1,000 in year 1 and £3,000 by year 3, no fees abroad. NatWest: up to £3,250 from year 3, £100 and a tastecard. Santander Edge Student: £1,500 interest-free for three years. Check the terms of the interest-free overdraft in particular: it is granted in stages, subject to proof of university enrolment, and starts costing money after the grace period that follows graduation.
Neobanks (Monzo, Revolut, Starling) generally accept UK residents with a passport and proof of address. Traditional banks often require a proof of address (utility bill). HSBC offers expat accounts via HSBC Expat. Without a verifiable UK address, opening an account remains difficult: most banks require recent proof of residence, and a non-resident account usually carries a monthly fee.
Santander Regular Saver: 8.00% AER, including a 5% first-year bonus, up to £200 a month. Club Lloyds: fixed savings up to 6.25%. NatWest Digital Regular Saver: 5.25% AER (£150 a month). Instant access: Starling 5.00% AER for six months for new customers, Revolut 2.9% to 4% by plan, Chase 2.25%. These headline rates usually apply to a capped monthly deposit and for twelve months only, which sharply limits the interest actually earned over the year.
Yes, all 10 banks compared support Apple Pay and Google Pay. Contactless payment is the norm in the UK with a £100 per transaction limit. Contactless payment by phone is not capped like a physical card, since biometric authentication counts as verification, which remains handy for larger purchases.
The UK banking market is one of the most dynamic and innovative in the world. It consists of major traditional banks (Barclays, HSBC, Lloyds, NatWest, Santander UK), leading neobanks (Monzo, Revolut, Starling Bank), a JP Morgan-backed online bank (Chase UK) and the world's largest building society (Nationwide). This diversity offers consumers a wide choice from free accounts with cashback to premium wealth management services.
Neobanks like Monzo and Starling have transformed the market with 100% mobile accounts, no fees on card payments abroad and advanced budgeting tools. Chase UK, launched in 2021, offers 2% cashback up to £20 a month and a round-up account paying 5% AER. Traditional banks remain essential for mortgages, in-branch services and student offers with interest-free overdrafts of up to £3,000 or more by year 3. Nationwide, a mutual building society, charges no fees for using its card abroad.
* Rates checked in October 2026 on the banks' websites; they may vary. This comparison is for informational purposes only. Deposits protected up to £120,000 (FSCS).