Best Reward And Cashback Current Accounts – Our Pick

This current account from Chase pays new customers 1% cashback on certain everyday spending categories for your first 12 months.

Cashback is paid on groceries, transport, fuel and electric vehicle charging, and lands in your ‘rewards balance.’ From here, it can be transferred into a Chase current or saver account you hold.

Cashback is capped at £15 per month.

Chase doesn’t charge foreign transaction fees for using your debit card abroad.

There’s also a linked ‘round-up account’ paying 5.00% AER (4.89% gross) variable. With this account open, customers can automatically round up their transactions to the nearest £1, and deposit the spare change.

Elsewhere, customers can access the Chase easy access savings account, which pays 4.75% AER variable. Note that this includes a bonus rate of 1.75% AER, which drops off after six months, taking the AER to 3.00% (variable).

This account must be opened and managed exclusively via the Chase banking app and it does not offer an overdraft facility.

Santander’s Edge current account offers customers up to £20 cashback each month.

You’ll earn 1% cashback on household bills — including broadband, council tax, mobile phone bills, and gas and electricity payments — capped at £10 per month.

When you shop at the supermarket, charge your electric vehicle, purchase fuel, or buy train tickets you’ll earn a further 1% cashback, also capped at £10 per month.

As a Santander customer you can access additional rewards — such as cashback and vouchers with certain retailers — through the Santander Boosts programme. You can sign up via mobile banking, and receive offers with partners including Greggs, The Body Shop, Tesco and Caffe Nero.

Edge customers can also access the linked Santander Edge saver account, which pays a competitive 6.00% AER (variable) on balances up to £4,000 for the first 12 months. After 12 months, the rate drops by 2.00% AER.

The account charges a £3 monthly fee, and requires you to pay in at least £500 each month and maintain two direct debits. So long as you spend at least £100 on bills, and a further £100 on travel and groceries, each month, you’d earn back this fee in cashback.

If you hold a personal current account with Santander, you can also apply for the Santander Edge credit card, which pays 2% cashback on purchases for the first year, falling to 1% thereafter. Cashback is capped at £15 per month, and the card charges a £3 monthly fee.

Club Lloyds customers can earn one reward every year, choosing either six cinema tickets, a digital membership to the Coffee Club and Gourmet Society, an annual magazine subscription or a 12 month Disney+ subscription.

You can also sign up with Everyday Offers to receive occasional cashback deals — up to 15% — with selected retail partners, including Costa Coffee and Sainsbury’s.

If you’re looking for an interest-paying current account, Club Lloyds could be a good option. The account pays 1.50% AER (variable) on balances between £1 and £3,999.99, and 3.00% AER (variable) on balances between £4,000 and £5,000. You won’t earn interest on any part of your balance over £5,000.

The account incurs a £3 monthly fee, which is waived every month you pay in at least £2,000.

Although there’s no cashback on offer, the Reward Current Account from Halifax comes with a handful of other perks.

Account holders can earn one reward each month, choosing between £5 cash, a cinema ticket or three digital magazines. When you first set up the account, you’ll be asked to choose your monthly reward. It can be changed every year.

To qualify for these rewards, you’ll need to stay in credit, pay in at least £1,500, and either spend £500 on your debit card or maintain an account balance of at least £5,000 every month.

Along with monthly rewards, account holders can receive up to 15% cashback with selected retailers — including Sainsbury’s, Harvey Nichols, and Costa Coffee — by signing up for Cashback Extras either online or through the Halifax mobile banking app.

You’ll also gain access to a linked Reward Bonus Saver account, currently paying 3.50% AER (variable) when you make no more than three withdrawals during its 12 month term. Note the interest rate drops to 1.00% AER from the fourth withdrawal.

Although the current account incurs a £3 monthly fee, this is waived every month you pay in at least £1,500.

NatWest’s Reward Bank Account allows customers to earn up to £5 cashback every month.

You’ll earn £4 for each month that two or more Direct Debits leave the account (one must be valued at at least £2), and a further £1 for every month you log into the NatWest mobile banking app.

There’s a further 1% cashback up for grabs when you spend with NatWest retail partners, which include Caffe Nero, Cineworld and Morrisons.

Cashback is credited into your ‘Rewards’ balance, which can be paid into the current account, or converted into gift cards to be spent with NatWest retail partners.

There’s a £2 monthly fee on this account and you’ll need to pay in at least £1,250 to a NatWest account each month to be eligible.

NatWest is currently offering a £150 welcome bonus when you make a full switch to its Reward Account.

To be eligible, you’ll need to make a full switch using the Current Account Switch Service (CASS), deposit at least £1,250 and log into mobile banking within 60 days of opening the account.

The £150 will be paid within 30 days of meeting these criteria.

The offer is open to anyone who makes a full switch, even if they’re already a NatWest customer. However, If you’ve received a switching offer from NatWest, RBS or Ulster Bank in the past you won’t be eligible.