Hodge Bank review

Hodge Bank's easy-access account pays a variable rate of 4.01%. The median headline rate across the site is 3%, so this sits above the middle of the range, though a variable rate can move in either direction.

Deposits are covered by FSCS up to GBP 85,000. Julian Hodge Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority in the UK, so the bank sits inside the UK regulatory framework.

The minimum deposit is £1, and the site median minimum is €0.88, so a small opening balance is enough. Access terms set the minimum balance at the same figure, with a higher ceiling on the balance held.

Access terms allow unlimited deposits and withdrawals with no notice required, and the account runs on online banking. It is an easy access account with a variable rate of 4.01%, and withdrawals need no notice at all.

Support runs on email, phone and help centre, covering email, phone and a help centre, and the account is run through online banking. That gives a direct line and a written channel for account questions, with the help centre for self-service answers.

Hodge Bank pays 4.01% on its easy-access account, bunq pays 3.01% and Wise pays 3.29%. The rate gap is modest, so the deciding factor is access rather than the headline number: this account allows unlimited withdrawals with no notice.

The account is provided by Julian Hodge Bank Limited, a UK bank, and the rate of 4.01% applies to balances held there. Access terms run through a nominated UK current account, so opening and funding both sit within a UK current account.

On headline rate, the bank ranks 142 of 488 brands listed here, and the account runs on a variable rate. A variable rate means that position can move as the base rate changes.