1.First Direct 1st Account
First Direct
7.00% AER
Get a £175 switching bonus when you open a First Direct 1st Account and complete a full switch using the Current Account Switch Service within 45 days.
£0
£1,000 to qualify for welcome bonus
No charges for debit card spending or cash withdrawals abroad
The First Direct 1st Account stands out as the top choice because it offers a remarkable 7.00% AER on its Regular Saver account, exclusive to account holders. Coupled with a £175 switching bonus and no monthly fees, it provides exceptional value for those looking to maximize their savings.
Pros:
- High interest rate on savings
- No monthly fees
Cons:
- Eligibility criteria for welcome bonus
2.NatWest Everyday Account
NatWest
5.25% AER
Get a £150 cash welcome bonus when switching to an Everyday (Select) or Reward account.
£0
£1,250 to qualify for welcome bonus
No monthly fee
What sets the NatWest Everyday Account apart is its attractive £150 cash welcome bonus for new customers, alongside access to a competitive 5.25% AER on the Digital Regular Saver account. This combination of incentives makes it a strong contender for those looking to switch banks.
Pros:
- Cash bonus for switching
- Access to fixed savings rate
Cons:
- Requires minimum deposit to qualify for bonus
3.LHV Bank LHV Current Account
LHV Bank
4.00% AER
£0
£0
No fees for spending abroad
The standout feature of the LHV Current Account is its competitive 4.00% AER, which tracks the Bank of England base rate, providing a reliable return on deposits. This account is particularly appealing for those who prioritize high interest without the burden of monthly fees.
Pros:
- High interest rate
- No monthly fees
Cons:
- Limited traditional banking features
4.iFAST Global Bank Multi-Currency Current Account
iFAST Global Bank
2.65% AER
£0
£0
No fees for foreign ATM withdrawals
This account shines for its ability to hold and manage multiple currencies, making it ideal for expats or frequent travelers. With competitive interest rates up to 2.65% AER on GBP and no monthly fees, it offers flexibility and value for international banking needs.
Pros:
- Supports multiple currencies
- No monthly fees
Cons:
- Interest rates vary by currency
5.Chase Bank Account
Chase UK
2.25% AER
Get 1% cashback on everyday spending for the first year.
£0
£0
No fees for international usage
Chase UK is the best option for those who want a straightforward, fee-free banking experience combined with cashback rewards. The 1% cashback on everyday spending for the first year, along with a competitive 2.25% AER on savings, makes it a compelling choice for budget-conscious consumers.
Pros:
- Cashback on spending
- No monthly fees
Cons:
- Limited to UK residents
6.Wise Business Account
Wise
3.26% AER
£0
£0
Free payments between Wise accounts
The Wise Business Account offers a unique approach to banking by providing a variable return on GBP balances through its 'Interest' feature. With a current rate of 3.26% AER and no monthly fees, it caters well to businesses looking for flexibility and competitive returns.
Pros:
- Competitive interest rates
- No monthly fees
Cons:
- Not a traditional savings account
Final Words
In conclusion, choosing a fee-free bank account in the UK can significantly enhance your financial management, with options like the First Direct 1st Account offering attractive incentives and benefits. Be sure to compare various accounts to find the one that best suits your needs, ensuring you make the most of your banking experience this March 2026.
Frequently Asked Questions
The First Direct 1st Account offers a competitive interest rate of 7.00% AER.
No, the NatWest Everyday Account has a monthly fee of £0.
In addition to a 7.00% AER interest rate, the First Direct 1st Account allows access to a Regular Saver Account with a fixed rate of 7.00% AER for 12 months.
The NatWest Everyday Account has the second highest interest rate at 5.25% AER among fee-free bank accounts.
The LHV Bank LHV Current Account offers an interest rate of 4.00% AER.
Typically, you need to be over 18, a UK resident, and not have been declared bankrupt or registered for an Individual Voluntary Agreement in the past six years.
Consider factors such as the interest rate offered, any additional benefits or features, accessibility of online banking, and overall customer service.
As of March 2026, the First Direct 1st Account is the highest available interest rate at 7.00% AER among fee-free bank accounts.


