The newest information that will help you get probably the most out of your checking account.
Right here’s my month-to-month replace sharing modifications for main UK present accounts, in addition to among the related articles you may need missed on the weblog.
Might’s checking account replace video
For a extra detailed replace, watch this video from our YouTube channel.
Might’s present account presents
Newest financial institution switching offers
The one new deal is from Co-operative Financial institution, and it’s value as much as £175. You’ll get £100 for switching and one other three plenty of £25 over three months – so long as you meet the criteria.
There are simply different two offers working for the time being, and that’s been the case since Lloyds and Santander presents ended in the beginning of April.
First Direct’s switching offer is for £175. Don’t neglect you’ll be able to entry a 7% regular saver with this financial institution.
In the meantime NatWest is giving away £150 for the swap. This has an honest 6.17% paying regular saver.
Barclays presents some clients £150 swap
If you’re an present Barclays buyer, regulate your emails as we’ve seen a that just a few folks have been provided a £150 switching deal. Nevertheless, it doesn’t appear to be very widespread.
iFast presents 2% cashback
New digital financial institution iFast will allow you to earn 2% on spending with it’s card. Nevertheless there are some main caveats.
One, you’ll be able to solely spend in your card through Google Pay. There’s no bodily card you need to use, and for the time being you’ll be able to’t add the digital card to Apple Pay.
Subsequent, this price is barely round till the top of June, in order that’s simply two months of the excessive price. Nevertheless, there’s at all times the possibility it’ll be prolonged as we noticed with different presents final 12 months from the likes of HyperJar and Buying and selling 212.
Verify accounts for Nationwide’s £50 ‘Thank You’
We talked about again in March {that a} £50 fee was coming to most Nationwide clients in April, and that was paid on 10 April. So in case you don’t use your Nationwide account usually, go get the money.
Get one of the best of our cash saving content material each Thursday, straight to your inbox
+ Get a £24 Quidco bonus (new members solely). More details
Might’s present account information
Membership Lloyds & Halifax Rewards add 0% overdraft
If you happen to sometimes go overdrawn every month, then it’s value trying on the Halifax Reward or Membership Lloyds present accounts as they each now include £100 interest-free overdrafts. Solely First Direct presents a bigger one, at £250.
Past £100 you’ll pay 39.9%, which is value noting for Membership Lloyds clients as beforehand you will have had a decrease price.
Each accounts additionally produce other options value exploring, with free Disney+ and a 6.25% common saver with Club Lloyds, and a £5 credit score every month with Halifax Rewards – so long as you meet the factors.
Zopa pushes totally different variations of beta account
Beforehand I informed you about Zopa’s new current account which is obtainable to most, if not all, Zopa clients in a ‘beta’ trial model. It’s nonetheless not absolutely launched, and it appears Zopa is testing totally different variations.
We noticed this after one reader shared they’d been despatched an advert that was totally different to the preliminary providing. It seems when signing up you would possibly see one in all these three:
| Choice a | Choice b | Choice c |
| 7.5% common saver | No common saver | 7.5% common saver |
| 2% curiosity on in account balances | 2% curiosity in your stability. | 2%* curiosity in your stability. |
| 2% cashback on direct debits as much as £1,500 a 12 months. | 3% cashback on as much as £3,000 of direct debits per 12 months. | 2% cashback on as much as £2,000 of direct debits per 12 months. |
| No charge | No charge | £5 annual charge |
All three seems to be comparable however there are some essential variations, notably the £5 annual charge with option c, although in return you’ll be able to earn 2% on an additional £500 of direct debits in comparison with option a – which might be value £10.
Option b doesn’t have a charge – nevertheless it additionally doesn’t have the 7.5% common saver – a giant draw for me once I utilized for the account. As an alternative the direct debit cashback is elevated to three% on a fair bigger £3,000 of payments. That will be value a complete of £90, versus £30. However, in case you go together with a or c and put the complete £300 every month into a daily saver you’d stroll away with £145.
HyperJar provides inactivity charge
We don’t discuss too usually about HyperJar exterior of cashback on gift cards, nevertheless it’s an honest app for budgeting too. So long as you employ it the account is free, however from 3 June 2025 a £3 inactivity charge shall be charged every month after 12 months of no use.
Use is outlined as:
- shifting cash between jars
- receiving into or transferring cash out of your HyperJar account
- spend along with your HyperJar card
- purchase a present card through HyperJar
It’s value remembering you can solely load £10 or extra free of charge into the account 10 instances every month. After this there’s a £1 cost.
Starling, Monzo and Chase add new options
A useful further for Starling customers. Now you can activate an alert when your stability reaches a goal you set. Very useful to make sure you don’t go overdrawn.
In the meantime over on Monzo now you can cut up bills, both as a one-off or ongoing. Your pals don’t should be on Monzo both to participate. It’s value a glance notably in case you’re in a houseshare.
Lastly, Chase have added 11 new classes, making it simpler to see the place your cash goes when spending. So for instance, ‘going out’ can now be categorised as ‘Lunch’, ‘Espresso’ or ‘Drinks’. Although surprisingly, not ‘Dinner’ or ‘Breakfast’.
MoneyHub closing
Budgeting app MoneyHub will near present clients on 16 August 2025. New clients already can’t be part of up. That is one more budgeting app that’s gone, following on from MoneyDashboard in 2023 and Yolt and OnTrees slightly longer in the past.
It means there are only a few free apps to assist with budgeting. Actually, there’s simply Snoop which has primary options (you will get a £5 Amazon voucher for signing up), although you’ll pay for issues like customised classes.
Our prime present accounts for Might 2025
I at all times assume it’s value having multiple present account (find out why here) and right here’s my run-down of the highest accounts to have this month.
