Essential has no monthly account fee. Charges that can still apply — such as foreign cash withdrawals — are listed in the tariff of charges.
Who Essential is for
Essential is the account most people should start with. It does everything a current account needs to do, it costs nothing to hold, and you can move up a tier later without changing your account number.
- You want a straightforward current account with no monthly fee.
- You are opening your first account, or moving from another bank.
- You spend mostly in your home currency.
- You would rather pay for extras when you use them than carry a monthly charge.
What is included
| Feature | Essential |
|---|---|
| Monthly account fee | None |
| Minimum balance | None |
| Debit card | Contactless, with a virtual card available immediately |
| Online and mobile banking | Full access, including card controls and statements |
| Domestic transfers | Included |
| Standing orders and direct debits | Included |
| In-network cash withdrawals | Free |
| Foreign transaction fee | Standard rate applies |
| Global ATM rebates | Not included |
| Dedicated adviser | Not included |
| Support | 24/7, by phone and secure message |
Free means free
No monthly fee, no minimum balance, and no requirement to pay a salary in. If a charge could ever apply to your account, it is in the published tariff.
When to consider moving up
Tiers are worth paying for only when you use what they add. These are the honest triggers.
- You spend abroad regularly
- Elite Plus removes foreign transaction fees and rebates out-of-network cash withdrawals. If you travel more than occasionally, it usually pays for itself.
- You want cashback on everyday spend
- Elite Plus adds cashback on eligible card spend. Below a certain monthly spend it will not cover the fee — the calculator on the tier page shows where the line falls for you.
- Your finances have become complex
- Property, a business, investments across several places: Prestige adds a named adviser rather than a queue.
Opening an Essential account
Register
Your name, date of birth, address and contact details. A few minutes.
Verify who you are
A photo ID and a document showing your address. Uploaded, not posted.
Approval
Most applications are decided within one business day.
Start banking
Your virtual card is live immediately; the physical card follows in the post.
Documents you may also need
Elite Plus
Enhanced rewards: a premium metal card, cashback on eligible spend, no foreign transaction fees and global ATM rebates.
Account TiersPrestige
A named relationship manager, personal concierge, dedicated wealth advice and zero foreign exchange fees worldwide.
Personal BankingDebit & Credit Cards
Contactless debit, a rewards credit card, and the controls that let you freeze, limit and replace a card yourself in seconds.
This document was last updated on 1 August 2026. We publish the current version here at all times; superseded versions are available on request.
If anything on this page is unclear, write to us and we will explain it.