Ethical banking offers the chance for you to make a difference with your money by supporting initiatives and organisations that make a positive impact on society and the environment.
We’ve rounded up the best ethical banks and savings account providers available to help you find accounts that align with your values.
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How I Chose the Most Ethical Banks
All Investing Insiders reviews are conducted using a standardised scorecard. Using a standardised scoring system ensures that every review we undertake is comprehensive and rigorous, and fair – because providers are being judged against the same set of criteria.
We analysed a wide range of ethical banks and building societies and chose the best ones based on the following criteria:
5out of 5
I think that Triodos Bank is an excellent ethical provider to consider. It has a comprehensive ethical policy which is easily accessible on its website.
The bank has a strong ethos rooted in halting climate change and it does not invest in fossil fuels. Instead, it finances renewable energy and community energy projects. Triodos also only invests in companies that demonstrate awareness that deforestation is an issue and have sustainable forestry practices and responsible sourcing and use of forest products.
Triodos has been a certified B Corp institution since 2015, which means that it must meet certain standards to create added value for society. The bank has an impact score of 131.3 – the median score for an ordinary business is 50.9 and a score of 80 qualifies for a B Corp Certification.
In 2018 Triodos Bank launched a crowdfunding platform to make it easier for people to find social investment opportunities.
Triodos is digital-only which allows you to set up and manage your account online. It offers a wide range of financial products including a current account (which comes with a £3 monthly fee), savings accounts, Cash ISAs, Stocks and Shares ISAs.
However, I think it’s important to note that Triodos falls short on lending and insurance options. Unlike its high street competitors like Nationwide and the Co-operative, it doesn’t offer credit cards, loans, mortgages or insurance. So if you are looking for an all-in-one ethical bank, there are other options on our list that are worth considering.
Triodos does not invest in:
❌ fossil fuels
❌ weapons, arms and munitions
❌ tobacco
❌ companies that violate human, political and democratic rights
5out of 5
I think that Nationwide upholds a robust ethical ethos while providing a competitive range of financial products to help you manage your finances.
For instance, Nationwide is a signatory to the UN Global Compact, which aims to promote charitable sustainable development, relieve poverty, preserve and protect the environment, and promote ethical standards and conduct.
Nationwide also upholds human rights protection policies aligned with the United Nations Guiding Principles on Business and Human Rights (UNGPs) and the International Bill of Human Rights.
The building society also supports sustainable finance through a target to hold at least £2 billion of Environmental Social and Governance (ESG) assets. According to a recent report, Nationwide also reduced the direct emissions from its business operations by 21% in 2024/25.
Nationwide is a building society which means that it is owned by its customers (who are known as members). That means that members get a say on how the business is run and a share of the profits.
If you’re looking for a provider that offers a diverse range of financial products, Nationwide is a great option. It offers bank accounts, student bank accounts, savings accounts, ISAs, home insurance, mortgages loans and credit cards.
Nationwide offers mobile banking to open and manage your accounts. You can also get support at over 600 physical branches across the UK.
Nationwide does not lend to or invest in:
❌ arms that are subject to a treaty or convention, to which the UK government is a signatory (such as nuclear, biological and chemical weapons)
❌ businesses involved in the exploration, extraction, or mining of coal
❌ businesses that generate revenue directly from oil and gas extraction
❌ power generation from coal-fired power plants
❌ non-sustainable, large-scale deforestation activities for alternative land use purposes e.g. palm oil production
❌ tobacco farming or manufacturing businesses
4.75out of 5
The Co-operative is another strong high-street option if you’re looking for an ethical bank. It’s a signatory of the UN Principles for Responsible Banking which is dedicated to creating a sustainable banking system. According to the Co-operative’s latest report, it has been operating “beyond carbon neutral” since 2007.
Unlike traditional banks, the Co-operative is owned by individual customers (members) who receive a share of the profits made and have a say in how the business is run.
Similarly to Nationwide, the Co-operative offers a wide range of financial products including bank accounts, student bank accounts, savings accounts, ISAs, home insurance, mortgages loans and credit cards. The Co-operative offers mobile banking which is handy for managing your money on-the-go. It also has a handful of physical branches across the UK if you need in-person assistance.
The Co-operative does not provide banking services to businesses or organisations:
❌ that takes an irresponsible approach to the payment of tax in the
UK and elsewhere
❌ whose core business focuses on irresponsible gambling as defined
by relevant legislation
❌ whose core business is the provision of payday loans
4.5out of 5
Digital bank Starling has been a trailblazer in banking due to its comprehensive spending analytics and ease of use. Its strong environmental ethos also makes it a strong contender among our top ethical banks.
Its direct debit card is made with 100% recyclable materials including water-based glue. Starling offsets its emissions by supporting initiatives that fight deforestation, plant trees and develop renewable energy.
While its general product range isn’t as extensive as some competitors on our list, Starling offers a solid current account with fee-free spending abroad. It also offers an overdraft facility for short term borrowing and a savings account.
Starling Bank does not provide banking services to businesses or organisations:
❌ that use excessive power to systemically promote public behaviour that is harmful to individuals
❌ groups or to the whole of society in order to maximise their own profits e.g. fossil fuels
Here’s our round up of the top ethical savings account providers and the rates on offer.
You can compare them to rates offered by traditional banks in our best savings accounts and best cash ISA comparison pages.
5out of 5
I think that Nationwide offers a range of savings accounts with competitive rates. There are instant access savings products which are ideal for cash you need to get a hold of in an emergency.
It also offers a regular saving account paying a top rate of 6.5% AER and a children’s savings account offering 5% AER.
You can also put your cash into a choice of fixed rate cash ISAs ranging from 1-5 years which offer up to 3.8% AER. The main drawback from Nationwide’s offering is the lack of instant access cash ISAs available.
4.5out of 5
Cumberland Building Society is an ethical provider offering a comprehensive range of savings accounts.
I think its easy access savings rates are relatively competitive at 3.10% AER. You could earn a bit more by locking your money away in one of its fixed accounts. For instance the 1-year saver pays 4.15% AER.
Cumberland offers regular savings accounts paying up to 4.75% AER and both Cash ISA and fixed rate Cash ISA accounts.
It’s also the only ethical provider to offer a Junior ISA paying 3.4% AER, making it a great pick for families looking to build a nest egg for their little ones.
4.5out of 5
Charity Bank is a great option for savers looking for a provider that supports charities and social impact enterprises.
It offers a competitive instant access savings account paying 3.04% AER and fixed savings accounts paying up to 3.66% AER. Charity Bank currently provides a 33-day notice account paying 2.81% which is beaten by our other top picks. It also offers less flexibility than some of the cash ISAs available with competitors.
An ethical bank or building society is a financial provider that follows a certain code of conduct which positively impacts the environment and society. Ethical banks don’t usually invest or provide banking services to companies associated with activity which is harmful to people and the planet. These include but are not limited to fossil fuels, deforestation, mining, tobacco, human rights violations and animal testing.
Ethical banks typically invest their money in companies, causes and initiatives that have a positive impact on society and the environment.
Like traditional banks, ethical banks and building societies are authorised by the Financial Conduct Authority (FCA). This means that they must follow a specific set of rules to protect customers and treat them fairly. Your money will also be protected under the Financial Services Compensation Scheme (FSCS). Up to £85,000 of your money is protected under FSCS if the ethical bank or building society goes bust.
Certified B Corporations (B Corps) are companies that meet high standards of social and environmental performance, transparency and accountability set out by B Labs.
Some ethical banks and building societies, such as Nationwide and Starling Bank, are on the Customer Switch Service (CASS) website which can help to speed up the bank account switching process. CASS provides a switch guarantee, which means that your account will be switched automatically within 7 working days. If the ethical bank you’re switching from or to is not part of the CASS it may take longer.
Do ethical banks offer lower interest rates?
As with traditional banks, ethical banks offer a variety of interest rates on their savings accounts and ISAs. To secure the best rates available it’s important to shop around and compare providers.
