Current account Market Analysis from

157 current accounts available
1.98% average AER
15 accounts offer +5% AER

Sean Gardner, director at, said: "Not everyone uses their current account as a way to make or save money so current switching levels need to be taken in context. There’s no ‘one size fits all’ approach."

"If you’re feeling the pinch you’re more likely to be interested in overdraft rates and fees than credit interest. So in contrast to other commentators we think Barclays’ move to reduce overdraft fees will be well received by consumers."

"Our research indicates that just 3 per cent of us switch provider every six months. Quite why anyone would expect a stampede of switching is a mystery – current accounts are about stability and let’s not forget that some people pay more attention to things like customer service and branch locations. We’ve got to stop assuming that everyone buys on price alone."

"That said, if you do only receive 0.1 per cent credit interest on your current account, there’s no doubt there are alternative options open to you that could potentially include competitive overdraft rates. You can have the best of both worlds. Loyalty doesn’t pay so make sure you have a good reason for choosing your bank."

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