If you’re living in Manchester or thinking of moving to the city, one of the first things you’ll want to sort out is where to put your money. Whether you need a current account for everyday spending, a savings account to stash some cash away, or a mortgage to get on the property ladder, Manchester has plenty of options to choose from.
You’ll find both banks and building societies in the city. They offer many of the same products, but there’s a key difference in how they’re set up. Banks are owned by shareholders and operate to make a profit. Building societies, on the other hand, are mutually owned by their members. That means if you open an account with a building society, you technically become a part-owner and get a say in how it’s run.
Both offer current accounts, savings products and mortgages, so which one you go with often comes down to personal preference. Here’s a look at what’s available.
What banks and building societies can you use in Manchester?
The North West has been one of the hardest-hit regions in the country for closures, with hundreds of branches shutting their doors. However, despite this, Manchester still has a decent selection of physical branches dotted around the city centre and beyond. Here are some of the main brick-and-mortar banks you’ll find in Manchester:
- Barclays
- Lloyds
- HSBC
- NatWest
- Halifax
- Santander
- Virgin Money
- Metro Bank
For building societies with a presence in the city, you’ll mainly be looking at:
- Nationwide
- Yorkshire Building Society (which also trades as Chelsea Building Society)
- Manchester Building Society (a trading name of Newcastle Building Society)
Of course, you’re not limited to what’s on the high street. Digital-only banks have become incredibly popular across the UK, and they’re well worth considering if you prefer to manage everything from your phone. Here are some of the most widely used options:
- Monzo is one of the UK’s best-known app-based banks, recognised for its budgeting tools, real-time spending insights and savings pots. It consistently ranks among the top banks for customer satisfaction and has attracted millions of users since launching.
- Starling is another highly rated challenger bank that offers free personal and business accounts. It’s particularly popular for its fee-free spending abroad, instant notifications and clean, easy-to-use app.
- Chase, backed by JPMorgan, has quickly built a strong customer base in the UK thanks to cashback rewards on everyday spending and competitive savings rates. It’s a solid pick if earning a little extra on your purchases appeals to you.
- Revolut offers a wide range of features including multi-currency accounts, budgeting tools and even crypto trading.
One thing to be aware of is that there are currently no digital-only building societies. These institutions are rooted in their community-focused, mutual model, and all operate with some form of branch or telephone-based presence. Many are improving their digital services and apps, but none have gone fully online yet in the way that challenger banks have.
Managing your money in Manchester
If you go with a digital-only bank, everything happens through the app. There’s no branch to walk into, and that’s by design. You’ll open your account, make transfers, check your balance and manage your spending all from your phone.
But even if you choose a traditional bank or building society, the experience isn’t all that different these days. Most high street names now encourage customers to use mobile or internet banking for day-to-day tasks. You can typically open an account, set up direct debits and manage your money without ever stepping inside a branch.
That said, having a physical branch nearby can still be useful. Paying in cash or cheques, getting face-to-face advice, or sorting out a more complex issue are all things that can be easier to deal with in person. It really depends on how you prefer to handle your finances.
Why the app experience matters
With so much banking now done on your phone, the quality of a bank’s app is something worth paying attention to before you commit. A clunky or limited design can turn everyday tasks into a chore, while a well-designed one makes managing your money almost effortless.
Digital banks tend to lead the way here. According to a MoneySavingExpert poll, Monzo and Starling consistently come out on top for both features and usability. Among the traditional banks, Lloyds and NatWest are generally the best rated on the major app stores.
Building society apps are a bit more of a mixed bag. The sector has been slower to invest in digital, and some smaller societies still offer fairly basic online services. Nationwide is the clear exception, offering a full-featured app that rivals many of the big banks. Before choosing where to open an account, it’s worth checking recent reviews on the App Store or Google Play. Apps are updated regularly and the experience can change quite a bit from one version to the next.
Payments and bank transfers
Making a payment via your bank or building society is now almost always done online. You can still arrange one in person at a branch, but most people handle it through their app or internet banking. It takes just seconds to send money, and the funds are usually cleared instantly.
If you need to send money to a friend or family member, whether they’re based in Manchester or anywhere else in the UK, you can do so by entering their account number and sort code. It can feel a bit fiddly the first time around, especially when you’re typing in names and numbers manually. But once that initial payment has gone through, you can save their details to your account. After that, any future transfer to the same person is quick and simple.
Plenty of merchants and platforms also now support bank transfers, usually through a dedicated payment portal that connects to your app or internet banking. This has made bank transfers a preferred payment method when buying goods and services online.
One of the best examples is online gambling. It takes just seconds to set up and approve these payments, allowing players to deposit instantly from their bank account to start playing casino slots and games. There are plenty of instant bank transfer casinos in the UK to choose from too, which has fuelled huge growth in this area of the industry.
That same speed and simplicity applies across other industries as well, which is why bank transfers have become one of the go-to payment methods for Manchester residents shopping and spending online.
Business banking in Manchester
Manchester isn’t just a brilliant place to live. It’s also one of the most attractive cities in the UK for starting and growing a business. The city’s digital economy has been expanding rapidly, with sectors like fintech, health tech, AI and creative industries all thriving.
Manchester is home to thousands of digital and tech companies, and several homegrown startups have become highly successful in recent years. It’s widely regarded as the UK’s second business city, representing the largest city region economy after London, and it continues to draw talent and investment from across the country.
The good news then is that banking options for businesses in Manchester are strong too. But picking a business account is a bit different from choosing a personal one. There are a few extra things worth considering:
- Transaction fees are one of the biggest variables between providers. Some accounts charge per transaction, while others include a set number for free each month. If your business processes a high volume of payments, these costs can stack up quickly.
- Integration with accounting software is a real time-saver. Many modern business accounts connect directly with tools like Xero, QuickBooks or FreeAgent, which cuts down on manual bookkeeping.
- Invoicing and payment tools are built into some of the digital business accounts. Starling, for example, offers in-app invoicing features that simplify the process of getting paid.
- Lending and overdraft options vary quite a lot between providers. Traditional banks tend to have more established lending products, while newer banks may offer faster application processes with less paperwork.
- Dedicated support is still available from some of the larger high street banks with branches in Manchester. If having a named business banking manager matters to you, that’s worth factoring into your decision.
Banking made easy in Manchester
Whether you need a personal account or something for your business, Manchester gives you no shortage of choices. From the familiar high street names and local building societies to the ever-growing range of digital-only banks, there really is something for everyone. And with the majority of banking now handled through apps and online platforms, you’re not tied to whatever happens to be on the nearest high street.
It comes down to what matters most to you, whether that’s a polished app, access to a physical branch just in case, competitive rates, or specialist business features. Whatever your priorities, you’re sure to find a bank or building society in Manchester that ticks the right boxes.
