Nearly everyone in the UK uses some form of bank in which to keep their money, not only is this a safe option but it also gives greater flexibility and convenience. Banking is an essential service, and there are a large number of companies offering banking services.

In recent years the banking sector has seen some large changes, with a number of building societies and mutuals changing to bank status, increasing the competition in this already crowded market. This gives you the customer a wider choice over who you bank with, and the potential to obtain a better deal on your banking by shopping around and comparing the services and rates offered by each of the players in this market.

You may feel that all banks are largely the same, and in fairness the services offered by most are fairly standard across the board, however there are important differences to consider when comparing banks. The interest rates offered on the accounts can vary greatly between banks, obviously the higher the rate the better as you will earn more money in interest payments. The charges, which are often hidden in the small print, also effect the value for money a bank is offering, some will have higher penalty charges for unauthorised overdrafts or for paying cheques when you do not have sufficient funds for the cheque to clear.

These are all things that you need to look into when weighing up which bank offers you the best deal, and also look at the overdraft limits they allow and also if they offer other features such as internet or telephone banking that may make your life a little easier.

With such a large number of banks to choose from, finding one from the many that suits your needs can be difficult, to help you we have a list of the top banks which you should look into in order to find the best one for you.