However, aside from security of funds that a bank or building society provides, there are still a few enticing options.
One such choice is offered by Nationwide, at present offering a two percent interest rate account.
The Nationwide FlexDirect account is a no monthly fee account offered by the building society, with a promise to “give you more”.
This does not, though, count transfers from other Nationwide accounts or VISA credits.
The account also offers an interest free arranged overdraft for 12 months in the majority of circumstances.
The FlexDirect offering from Nationwide comes with Financial Services Compensation Scheme (FSCS) protection.
For those switching, the account also has the Current Account Switch Guarantee to help with the process.
Under the scheme, Britons can switch their current account in seven working days with most of the administrative work undertaken for them.
Britons, however, should be aware of the eligibility rules which come with the FlexDirect current account before applying.
The same can be said for individuals who want to apply for an arranged overdraft, and people should be aware their circumstances could be checked before a decision is made.
But the Nationwide account is not the only current account offering which has a healthy interest rate.
For existing customers who are regular savers, Yorkshire Building Society is offering a 3.5 percent interest rate account.
While sister banks NatWest and RBS follow closely behind with a 3.04 percent interest rate.
People should be aware, however, that interest rates can change at the bank or building society’s discretion, and so keeping an eye out is key.
This post originally appeared on Daily Express :: Finance Feed