Compare Current Accounts for Over 50s

It’s easier than ever before to compare current accounts and find out which account works best for you. Gone are the days of worrying over switching banks: taking advantage of some of the best current accounts with benefits is now an easy (and more importantly, fast) process thanks to the new 7 day Current Account Switching Service.

 

At GrownUpMoney, we’ve taken a look at some of the best current accounts in the UK, and all of the accounts listed below are attractive for over 50s, or those at or near retirement, as they require low monthly deposits. This can be helpful if your pension is less than you were earning while working, and you can still take advantage of the range of benefits these accounts offer.

 

There are many current accounts with benefits available, such as worldwide annual travel insurance and preferential rates on foreign currency. Does your current account compare? Take a look our selection of the best current accounts for over 50s below, and find out if you should switch to an account that works harder for you.

Monthly Fee

Min Monthly Income

Interest Rate (AER)

Overdraft Rate (EAR)

Nationwide Flex Plus

£10

No minimum

3% on balances between £1 and £2,500

0% for first 3 months

£269

ADDITIONAL BENEFITS: Worldwide travel insurance up to 75 years old, breakdown cover, commission free cash withdrawals abroad, dedicated switching service.

Santander 123 Current Account

£2

£500

1.5% on balances between £1 and £20,000

0% for first four months

N/A

ADDITIONAL BENEFITS: 1 % cash back on water and council tax, 2% cashback on gas and elec, 3% cashback on mobile, home phone, broadband and paid for TV.

Ultimate Reward Current Account

£15

No minimum

0%

No interest on planned overdrafts up to £300

£198

ADDITIONAL BENEFITS: £100 reward for switching, worldwide annual family travel insurance for you and your partner up to age 71, preferential rates on Travel Money orders, breakdown insurance, home emergency boiler insurance, mobile phone insurance.

NatWest Select Platinum

£16

No minimum

0%

19.49%

£184

ADDITIONAL BENEFITS: Worldwide Travel Insurance for you and your partner up to age 70, 2 free National Trust passes, preferential currency rates, tastecard (2for1 or 50% off at 1,000s of restaurants), breakdown cover, 1% cashback with selected retailers.