USwitch Current Account Awards 2013 Top 5 Providers
With so many current accounts available today, it can become quite difficult to know which current account is the most suitable to your needs. This article looks at the top five current accounts at the moment.
The uSwitch Current Account Awards 2013 have named the top current account providers, based on a survey of over 10,000 current account holders. The survey, which was conducted by YouGov, asked current account customers to rate their providers on seven different categories. Providers were rated on their overall satisfaction, benefits and incentives, most trusted by customers, best value for money, best branch customer service, best telephone customer service and best email customer service. If you are looking to switch your current account to a new provider, the following 5 providers have been voted as the best choice for current accounts.
1. First Direct
First Direct came top of the uSwitch survey, with an overall score of 78%. First Direct operates as a telephone and Internet-based bank, although it is a division of HSBC Bank, which has branches throughout the UK. The First Direct current account offers £125 when you switch from another account, as long as you transfer at least two Direct Debits or Standing Orders to the new account and have a minimum income of £1,000 per month. If you are a customer of other First Direct products, or have an income of at least £1,000 per month, your current account will be free of charge. However, if your income falls below an average of £1,000 a month, the First Direct current account will cost £10 per month.
Smile came second place in the uSwitch survey to find the best current account providers, with an overall score of 78%. Smile is an Internet-based bank, although it is part of the Co-operative banking group, which has branches around the UK. The Smile current account comes with no monthly fee and a free overdraft up to £500. As a Smile customer, you will also benefit from special offers and discounts on other Smile products, such as credit cards and savings accounts. If you want to close your old current account at the same time as opening a Smile account, you can use the Smile switching service, which will transfer all Direct Debits and Standing Orders to your Smile current account.
3. The Co-operative Bank
The Co-operative Bank took third place in the uSwitch awards, with an overall score of 70%. There is no monthly fee for the Co-operative current account, and you can choose how and when you want to do your banking. The Co-operative Bank provides an online banking service and mobile banking facility, while UK-based call centres are available 24 hours a day for those preferring to use telephone banking. There are also Co-operative Bank branches throughout the country, if you prefer to do your banking in person. In addition, you can withdraw money and deposit cash or cheques at your local Post Office.
Nationwide earned fourth place in the current accounts survey, with an overall score of 63%. The Nationwide FlexAccount comes with no monthly fee and a range of rewards, including special deals on loans and credit cards. You can also receive free travel insurance, providing you are aged between 16 and 75. In order to qualify for free travel insurance, you must deposit at least £750 into your account every month and be a permanent resident of the UK. As a Nationwide customer, you can also choose whether to do your banking online, over the telephone, at a local Nationwide branch or through your mobile phone.
Halifax came fifth in the uSwitch Current Account Awards 2013, with an overall score of 45%. The Halifax current account comes with no monthly fee and a choice of banking options, including online, telephone, mobile and in-branch banking. If you choose to switch to Halifax from your current bank, you could also receive £100 to transfer your current account to Halifax. In order to qualify for the £100, you must use the Halifax switching facility to transfer all Direct Debits and Standing Orders to your new account.
Before switching to a new current account provider, always compare the offers available to see which is best suited to your circumstances. In addition, remember to check the small print carefully to make sure there are no unexpected fees, charges or terms and conditions that you are unhappy with.
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ABOUT THE AUTHOR
Sam Jones the author of this article recommends to his readers looking for current account awards 2013, to visit, http://www.uswitch.com/current-accounts/guides/uswitch-current-account-awards-2013/ by uSwitch for the latest information available.