Compare current accounts including basic bank accounts and student accounts and apply online

Bank	Account Name	Features	Gross Rate
	Virgin One Account			Apply
	Alliance & Leicester Premier Direct	market leading credit interest rate	5.00%	Apply
	Citibank Direct Account	24/7 Service	4.50%	Apply
	Cahoot Current Account		3.93%	Apply
	Smile Current Account	£500 fee free overdraft	3.25%	Apply
	Intelligent Finance Current Account	Can form part of an Offset plan	2.50%	Apply
	First Direct Current Account	£50 with bank switch incentive	1.98%	Apply

Preparing to transfer your current account
When you are ready to make the switch, timing is key. You may be tempted to close your current account immediately after a particularly bad experience with your existing bank, but this is likely to do you more harm than good. For a stress-free switch, prepare to make the move at least a month ahead of time. Your bank is likely to need some notice, as are the companies with whom you have direct debits. Your new bank should have a system in place - usually with telephone support and a pack - to help you make the move.

Preparing to transfer your account: Five easy steps to making the move

1. Shop around: Choose your next bank current account carefully by asking friends and family for recommendations but remember everyone's finances are different. Be clear about the things you want from your new bank, that your existing one does not provide.

2. Open up your new current account: Tell your new bank that you are switching from another bank so they can help you make the move. Do not forget to request the transfer of any loans, overdrafts or others debts in your application. Then wait until the new account is up and running before you do anything else.

3. Set up your payments: Make a list of all the standing orders and direct debits you want switched over, together with the dates for each payment. Your new bank should liaise with your old bank to have these transferred. This should take around five working days.

4. Redirect your salary payments: Most importantly, write to your employer with the new bank account details so that your salary can be paid in to it. You may find it best to do this just after your monthly salary has been paid, to allow plenty of time for the change to be made. If you have other regular payments into your account, such as share dividends, make sure you get these changed too.

5. Close your old bank account: Once you are happy that your new account is up and running and your financial arrangements have been successfully transferred, you can close down your old account by notifying your old bank in writing. Finally, return your bank cards and unused cheques.