The 10 best banks in the UK: a list of top picks in 2025

Looking for a new bank account in the UK? Perhaps you’ve just moved here, and are looking for a way to manage your finances.

Read on, as we’ve put together a list of top banks in the UK, the account types available and some helpful info on how the UK banking system works.

Do you travel a lot or have family in another country? You might want to check out an alternative way to manage your money across borders from the money services provider Wise - the Wise account. It’s not a bank account but offers some similar features, and your money is safeguarded.

Over 12.8 million people worldwide use Wise to send, spend and convert money in 40+ currencies – for low, transparent fees* and no-markup exchange rates close to what you can see on Google. Plus, you’ll get dedicated support and volume discounts when sending large amounts.

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Top 10 best banks in the UK

Now, let’s take a look at some of your options when it comes to choosing a bank in the UK. Here are some of the biggest and most popular UK banks serving retail customers:

Bank name	Owned by	Founded	Group assets
HSBC	HSBC Holdings	1865	$3 trillion¹
Lloyds Bank	Lloyds Banking Group	1765	£906.7 billion²
NatWest	NatWest Group	1968	£708 billion³
Barclays	Barclays Bank	1690	£1.5 trillion⁴
Royal Bank of Scotland	NatWest Group	1727	£708 billion³
Nationwide	Its members	1884	£271,917 million⁵
Halifax	Lloyds Banking Group	1853	£906.7 billion²
Santander UK	Banco Santander	1857	€1,837 billion⁶
First Direct	HSBC Holdings	1989	$3 trillion¹
Metro Bank	Spaldy Investments	2010	£17,582 million⁷

HSBC

One of the ‘big four’ banks in the UK, HSBC has an extensive branch network throughout the whole country.

Another of its advantages is that it operates in multiple countries around the world. So if you bank with HSBC in your home country, they may be able to help you set up an account in the UK before you get here.

HSBC offers current, savings and foreign currency accounts, along with credit cards, mortgages and insurance products. For everyday banking, there’s a choice of a basic account, standard HSBC Bank Account or the Advance Account which comes with extra features.

Lloyds Bank

With roots dating back to 1765, Lloyds Bank is another of the UK’s ‘big four’ banks. It offers current accounts including its Classic and Club Lloyds accounts, plus all kinds of premium and specialist accounts.

For example, you can choose the Silver account to get family travel insurance and breakdown cover thrown in, or a Platinum account which also includes mobile phone insurance. Both of these accounts come with a monthly fee.⁸

For young people, there’s also a Smart Start savings account, an Under 19s Account and a dedicated Student Account.

NatWest

With a sizable network of branches and ATMs across the UK, NatWest is another of the country’s biggest and most popular banks. It serves both businesses and personal customers, as well as offering private banking and wealth management services.

For everyday banking, you can choose from a range of current and savings accounts. This includes the free NatWest Select Account, and the NatWest Reward Account - this gives you rewards on spending and payments, in exchange for a monthly fee.

There’s a dedicated Student account, and options for children and teens too.

Barclays

The last of the UK’s ‘big four’, Barclays is a multinational universal bank with a history dating back to 1690 - making it even older than Lloyds Bank.

Personal banking customers can choose from a range of current and savings accounts, borrowing options, credit cards, investment and insurance products.

Among the most popular current accounts at Barclays are the standard Barclays Bank Account (which can be boosted with Blue Rewards perks for a monthly fee) and Premier Current Account.

For those at university, there’s the Student Additions Account. Younger customers can take advantage of Barclay Plus for 11-15 year olds, or the Young Person’s Account.

Royal Bank of Scotland

While headquartered in Edinburgh, Royal Bank of Scotland (RBS) is one of the major banks in the UK.

Part of the NatWest Group, RBS offers a similar selection of current accounts as its parent. This includes the RBS Select Account and RBS Reward Account, along with a basic Foundation Account.

There are also a range of perk-packed Premier accounts, student, teen and child accounts available.

Nationwide

Nationwide is a building society, rather than a bank. This means it’s owned and run for the benefit of its members. In fact, Nationwide is the world’s largest building society.⁹

It offers the same kinds of services as a bank though, including current accounts, savings accounts, credit cards, loans, mortgages and more. For everyday banking, there’s the FlexPlus, FlexDirect and FlexAccount to choose from.

For young people, there’s the FlexOne account for 11 to 17-year-olds, along with the FlexStudent account.

Halifax

Based in Yorkshire, Halifax is a former building society and is now part of the Lloyds Banking Group. It offers everything from current and savings accounts to loans, credit cards and home insurance.

It has a standard Current Account, along with a Reward Current Account and Ultimate Reward Current Account. The latter offers lots of extras, including travel insurance, breakdown cover, home emergency cover and mobile phone insurance - all for a monthly fee.¹⁰

There’s also a dedicated Student Current Account, and Money Smart Account for 11 to 15-year-olds.

Santander UK

One of the many international banks operating in the UK, the Spain-based Santander is a popular choice for everyday banking services.

Its wide range of accounts includes the Everyday Current Account, Santander Edge Current Account and Santander Edge Up Account - the latter two offering extra features in exchange for a monthly fee.

There’s also a Santander Edge Student Current Account.

Santander UK also offers credit cards, insurance, mortgages, savings and investments.

First Direct

Owned by HSBC, First Direct doesn’t have any physical branches - it’s a phone and online-based bank. However, it’s renowned for providing great customer service.¹¹

For everyday banking, there’s just one Current Account available, but this also comes with access to a regular saver account.

First Direct can also help with savings, investments, loans, cards and mortgages.

Metro Bank

Last on our list is Metro Bank, one of the newest high street banks to open in the UK - although it’s been around for 14+ years.

Metro Bank offers accounts, savings, borrowing, mortgages and insurance products. To manage your money day-to-day, you can choose from a Current Account, Cash Account and Foreign Currency Account.

Best online bank accounts and alternatives in the UK

Along with high-street banks, the UK also has a number of digital banks and alternative providers to choose from. This includes:

• Revolut. The app-based Revolut offers a choice of monthly plans, including a free Standard plan. All include a debit card and basic banking services, with more perks and features added the more you pay for your monthly plan.
• Starling Bank. A fully authorised UK digital bank offering a fee-free current account, with everything managed through the Starling app.
• Monzo. Another app-based UK bank, Monzo offers an online-account with no fees for day-to-day banking services.

Wise - An international alternative to a bank account

Looking for smart ways to manage your money in the UK and abroad? Check out the Wise account. It's not a bank account but offers some similar features and your money is safeguarded

With the Wise account, you can send, spend, hold and convert money in 40+ currencies, for low, transparent fees* and mid-market exchange rates close to what you see on Google.

You can also get a Wise card for a one-time fee of £7 (or the Wise virtual card for £0) to spend like a local in 150+ countries. This clever card automatically converts your money to the local currency whenever you spend, only adding a tiny, upfront currency conversion fee* – or it’s fee-free if you already have the local currency in your Wise account.

Here’s an overview of the main benefits of using Wise:

Fast and easy setup with no physical paperwork Low, transparent fees* and no-markup mid-market exchange rates Dedicated support and volume discounts for large transfers No monthly/annual account fees Sophisticated security and anti-fraud measures, with your money safeguarded under regulatory protections Trackable and fast transfers to 140+ countries Low-cost spending in 150+ countries with the Wise card Earn a return on your GBP, USD and EUR balance with Wise Interest**

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**Capital at risk. In the UK, Interest and Stocks are provided by Wise Assets — this is the trading name of Wise Assets UK Ltd, a subsidiary of Wise. Wise Assets UK Ltd is authorised as an investment firm and regulated by the Financial Conduct Authority (FCA). Our FCA number is 839689. We do not give investment advice, and you may be subject to pay tax. If you're not sure, seek qualified advice. You can find more information about the funds on our website.

Banking in the UK (an overview)

The banking system in the UK is made up of private and international banks, along with building societies. There are nearly 278 banks in the UK,¹² with a handful of large banks dominating the banking sector.

To open a bank account in the UK, you’ll usually need to provide your ID (such as a passport or driving licence) and proof of address. You may also have to complete further steps to prove your identity.

Current accounts with English banks tend to be free to open, with no monthly fees. However, you can get some packaged bank accounts which throw in extra services or discounts in exchange for a monthly charge.

It’s usually free to use your bank’s ATM and there are also many fee-free ATMs on UK high streets. But some UK ATMs do have charges. You may also face ATM fees if you use your card abroad. Most major banks offer online banking, along with mobile banking.

And like banks in other countries, UK banks tend to charge high fees for international transfers outside of Europe.

To avoid these expensive fees, consider using an alternative such as the Wise account. It’s ideal for international transactions, and could save you a bundle.

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Sources used:

1. HSBC - Our investment case
2. Statista - Global value of total assets of Lloyds Banking Group from 2010 to 2024
3. Statista - Total assets of NatWest Group from 2007 to 2024
4. Statista - Total assets of Barclays PLC from 2010 to 2024
5. Nationwide - Review of the year 2024
6. Santander - About us - Key facts and figures
7. Metro Bank - Metro Bank Full Year Results 2024
8. Lloyds Bank - Compare Current Accounts
9. Nationwide Media Centre - Nationwide overtakes major banks to have the largest branch network on high street
10. Halifax - Current Accounts
11. First Direct - Home
12. TheBanks.eu - List of Banks in the United Kingdom

Sources last checked on date: 21-Apr-2025