Best banking sign-up bonus offers & refer-a-friend deals

Discover which banks have welcome offers, rewards or refer a friend deals available.

It’s not all about switching deals when it comes to banking offers. There are also sign-up bonuses, refer-a-friend deals, reward programmes and business banking offers. Find out which banks are offering what.

Sign-up bonus deals

From time to time, banks and e-money account providers offer cash just for opening an account. Below we’ve listed the latest we’ve found.

  • Monzo – £5 sign-up bonus
  • GoHenry – £15 pocket money bonus

Refer-a-friend offers

Providers occasionally run refer-a-friend deals with specific rewards or benefits attached. Here are some current ones.

  • Starling – Free National Trust day passes when you refer a friend
  • Triodos – £60 shopping voucher or a donation to a charity for the recommended friend, plus a £25 charity donation for the recommender
  • Monzo – £5 refer-a-friend bonus
  • Monese – £10 refer-a-friend and earn up to £150

Best high-interest rate offers

Some free current accounts come with a high interest rate or access to exclusive linked savings accounts. We’ve listed the best we’ve found below.

  • TSB – Monthly Saver Account – Access to 6.00% gross/AER fixed interest monthly saver
  • first direct – 1st account – Access to a 7% AER interest Regular Saver Account
  • NatWest – Digital Regular Saver – Access to 6.17% AER on balances up to £5,000 with a Digital Regular Saver account
  • HSBC – Advance Bank Account – Access to a 5% AER HSBC regular saver account
  • Lloyds – Club Lloyds Monthly Saver – Access to a 6.25% monthly saver account
  • Nationwide – FlexDirect Account – Access to a 5.00% AER regular savings account
  • Santander – Edge – Access to a 7.00% AER interest savings account on balances up to £4,000. This includes a 2.50% AER / 2.47% gross (variable) bonus rate for the first 12 months from opening. ​
  • Chase – Current Account – Access to a 5.1% AER (bonus) interest Chase saver account
  • Virgin Money – M Plus Account – Access to 2.5% AER on balances up to £25,000 with a linked M Plus Saver account

Best cashback account offers

If you fancy earning a bit of extra cash every time you spend money, then a current account with cashback could be the answer. Below we have listed a number of accounts with attractive cashback offerings.

  • Santander – Edge – 1% cashback on household bills, 1% cashback at supermarkets and on travel costs (exclusions apply)
  • Chase – Current Account – 1% cashback on eligible spending up to £1,500 each month

Best student bank account offers

Banks also offer tempting deals for students. From railcards to tastecards to upfront cash, there are multiple incentives a student can choose. We’ve published a separate guide to comparing and finding the best student bank account deal for you.

Sign-up bonus deals

Monzo - £5 sign-up bonus
Monzo Free
Finder score
4.6 ★★★★★
Go to site Read review

£0

Min. opening balance

£0

Account fees

0% AER

Interest (AER)

Monzo Instant Access Savings Pot earns you 4.10% AER interest (variable), paid monthly into the Pot you create.
Requirements to get the bonus
  • The friend needs a valid referral code
  • They must download the Monzo app within 30 days of receiving the invite link
  • They need to apply for a personal, joint or business account
  • They must deposit money in the account and make a transaction
  • They must be over 16 and a UK resident without a Monzo account

Exclusions

  • Existing customers can't invite more than 100 people to sign up (so the maximum is £500 from this offer)
  • You can't advertise your share code, game the offer in any way or behave in a fraudulent way

Offer ends
This offer is subject to availability and may be withdrawn at any time.

Representative example: If you use an arranged overdraft of £1,200, you'll be charged interest at 39% EAR variable . Account fee of £0.
  • Easy to set up
  • Good for budgeting and categorising spending
  • Automatic saving feature
  • Fee-free spending abroad
  • Slick app with face login
  • Overdrafts and loans available
  • Free ATM withdrawals outside the EEA limited to £200,
  • £1 fee for depositing cash at PayPoints,
  • Maximum cash deposit of £1,000 every 6 months
  • No rewards program
Interest rate 0% AER
Minimum opening balance £0
Switch service guarantee Yes
Account fee £0
Overseas cash withdrawals 0%

GoHenry - with £15 pocket money and 2 months free

GoHenry - with £15 pocket money and 2 months free
Finder Score
★★★★★
Go to site Read review

£3.99

Monthly fee

£0

Card delivery fee

6-18

Age range

Get an exclusive 2 months free and £15 pocket money offer when you sign up with this link
gohenry is designed for children aged 6 to 18, and is managed digitally through an app for a monthly fee. It consists of a parent and child account combination, which sees parents use their account to top up the child’s balance and set limits on their spending. The child can check the available balance in their account and spend the money they’ve been given using a prepaid Visa debit card. Its free to use the card to make purchases online and in-store, as well as to make ATM withdrawals in the UK. But you only get one free money load from the parent’s account to the child’s account each month – after that it’s 50p per top-up.
  • Full parental control thanks to instant notifications and spending limits
  • One-month free trial
  • It can be used by children as young as six
  • Reward system for completed tasks
  • Children learn about personal finance in a controlled environment
  • Relatives can also send money to the children
  • You can manage up to four child accounts from the same parent account
  • No fees to spend or withdraw cash abroad - these were scrapped in 2020
  • Monthly fee
  • Only one free top-up to the child account a month
  • Safe, but not as safe and regulated as a bank
  • It doesn’t pay any interest
  • There are cheaper cards available
Monthly fee £3.99
Card delivery fee £0
Card transaction fee £0
Cash withdrawal fee £0
Loading fee 1 free/month, then 50p each
Replacement card fee Free, or £4.99 if changing the card design
Network VISA
How many child accounts 4
Fees abroad £0
Other fees £4.99 for a customisable card or Eco Card
Freeze/unfreeze card Yes

Refer-a-friend offers

Get a free National Trust day pass when you refer a friend
Current Account - Age 18 and over
Finder score
4.7 ★★★★★
Read review

£0

Min. opening balance

£0

Account fees

3.24% AER

Interest (AER)


Requirements to get the bonus
  • On the starling app, tap profile picture and choose 'refer a friend' then 'share referral link' and message it to your friends
  • Once their account is approved, both will be sent a free National Trust individual day pass

Exclusions

  • Each of the Referring Customers and Referees must acknowledge and agree that no direct financial reward will arise as a result of the scheme, and neither party shall in any circumstances attempt to derive a financial or other benefit from the scheme
  • Maximum of 50 daily referrals per referring customer
  • Passes cannot be used at paid-for events or certain properties

Offer ends
There's no specified date when this offer ends, but it's subject to availability and can be withdrawn at any time.

Representative example: If you use an arranged overdraft of £1,200, you'll be charged interest at 15% EAR variable .
  • No monthly-fees
  • No overseas fees
  • 100% digital sign-up
  • 24/7 UK customer support
  • 'Settle up' feature to split joint bills
  • Pays interest on current account balance
  • Overdrafts available (only on personal accounts)
  • No branch network
  • Limited options for depositors
  • No competitive switch incentives if you switch your account
  • Limited product range compared to other banks
  • Lower ATM withdrawal limit than some other digital challengers
  • No group savings feature
  • Doesn't have a specific monthly budgeting tool
Interest rate 0% AER
Minimum opening balance £0
Minimum operating balance £0.01
Switch service guarantee Yes
Account fee £0
Overseas cash withdrawals £0
Monese - £10 refer-a-friend offer
Monese
Finder score
3.8 ★★★★★
Read review

£0

Min. opening balance

£0

Account fees

0% AER

Interest (AER)

Requirements to get the refer-a-friend bonus
  • Both you and your friend must live in a country Monese operates in: UK, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Norway, Portugal, Romania, Slovakia, Slovenia, Sweden
  • Your friend needs to be at least 18
  • Signup and make a card transaction to both get your first £5
  • You get £5 more each once your invited friend has spent a total of £500 in card transactions on their Monese account or sent this much internationally (outside the EU/EEA)
  • Open a Monese account through the Monese app or website by clicking on the Referral Link or by using the Referral Code when signing up

Exclusions

  • You can earn a maximum of 2 referral bonuses from each friend referred
  • Refer a maximum of 15 people
  • You can earn a maximum of £150 from this offer (£10 x 15)
  • The person you invite must be a different individual
  • This offer can't be used for any kind of commercial activity or in connection with any paid promotions

Offer ends
This offer is subject to availability and may be withdrawn at any time.

  • UK current account that does all you can expect, including direct debits and standing orders.
  • Fast and easy set-up (no credit check or proof of local address needed).
  • Colourful app that is easy to use, allows you to categorise your transactions and freeze the card if you lose it.
  • Free card payments and ATM withdrawals abroad.
  • You can load cash into the account for free.
  • Can open both a UK and European account and switch instantly.
  • With a free plan, fee-free ATM withdrawals and cash loads are limited to £200 per month.
  • You can’t put your savings in a separate account or earn interest on them.
  • It doesn’t offer anything more than a current account.
  • No physical branches.
Interest rate 0% AER
Minimum opening balance £0
Account fee £0
Triodos - £60 voucher for the Ethical Superstore or Neal’s Yard Remedies for the recommended friend, plus a £25 charity donation for the recommender

£0

Min. opening balance

£3 per month

Account fees

0% AER

Interest (AER)

Recommend a friend and £25 will be donated to the existing customers chosen charity for each successful recommendation.
Requirements to get the bonus
    The recommender:
  • You need to be over 18 and have one of the following Triodos products in your name: Personal Current Account, Savings Account, Cash ISA, Investment ISA, including joint accounts
  • You must register for the refer-a-friend scheme by using the link within the invitation email

The recommended friend:

  • You must use the same email to register for the scheme and your new Triodos account
  • You need to open a Personal Current Account within 60 days of registering for the scheme
  • You need to deposit £100 within 30 days of opening the account
  • You must be a new customer of Triodos Bank UK and not already hold any accounts with Triodos Bank UK
  • You need to register for the refer-a-friend scheme by using the unique link given to you from the recommender

Exclusions

  • A maximum of 30 donations to a chosen charity within a 12-month period
  • You can't apply for this offer if you live with or are family members of someone who works for Triodos
  • Joint accounts get one £25 donation

Offer ends
This offer is subject to availability and may be withdrawn at any time.

  • Ethical banking
  • Arranged overdraft available
  • Easy to manage
  • Interest charged on overdrafts
  • Foreign transaction charges
  • No cash deposits
Interest rate 0% AER
Minimum opening balance £0
Minimum operating balance £0
Switch service guarantee Yes
Account fee £3 per month
Overseas cash withdrawals 2.5%

High interest offers

TSB - Spend & Save - Access to a Monthly Saver Account
Spend & Save
Finder score
4.3 ★★★★★
Go to site Read review

£0

Min. opening balance

£0

Account fees

0% AER

Interest (AER)

Get £160 to switch & stay. £100 to start a switch before the offer is withdrawn, log into TSB App, make 5 debit card payments. Earn up to £60 double cashback by making 20 debit card payments per month. T&Cs apply.
This account from TSB allows users to earn up to £5 cashback for the first six months when they make 30 or more payments on their debit card each month. Alternatively, if you’re happy to pay a monthly fee, you could consider the Spend and Save Plus account instead, which offers cashback with no end date. The Spend and Save account also enables you to set up different Spending Pots and earn interest as you do so, plus set yourself goals and track how your money is growing. With the Save the Pennies feature, every debit card payment will be rounded up to the nearest pound and the pennies can be transferred to your Savings Pot or other eligible TSB savings account. In addition, you’ll have access to a competitive Monthly Saver account with a rate that’s fixed for a year, helping your savings to grow further. You can also apply for an arranged overdraft.
If you use an arranged overdraft of £1,200, you'll be charged interest at 39.9% EAR variable/APR representative.
  • Earn cashback as you spend
  • Competitive Monthly Saver
  • Save the Pennies feature
  • Overdraft available
  • Cashback on Save and Spend account expires after six months
  • Interest charged on overdrafts
Interest rate 0% AER
Minimum opening balance £0
Minimum operating balance £0
Switch service guarantee Yes
Account fee £0
Overseas cash withdrawals 2.99%
Lloyds - Club Lloyds Silver - Access to a Monthly Saver Account

£1

Min. opening balance

Account fees

1.5% AER

Interest (AER)

£175 for accounts switched using the Current Account Switch Service including 3 active direct debits until 30.7.24.
This account from Lloyds Bank offers you additional benefits such as travel insurance, mobile phone insurance, breakdown cover and cashback. For a monthly fee of £10, you can get European and UK family travel insurance (up to age 65 and subject to eligibility), as well as AA family breakdown cover. In addition to this, you get worldwide cover for your mobile phone up to £2,000. As a Lloyds account, you’ll also benefit from its Everyday Offers programme, which gives you up to 15% cashback at selected retailers. If you are looking for a bit more, you can add Club Lloyds to your account. This will give you monthly credit interest (provided you pay 2 direct debits each month) and a Lifestyle Benefit each year such as an annual magazine subscription or cinema tickets. The cost of this is £3 a month, but Lloyds will refund this if you pay in £1,500 or more each month.
  • European and UK travel insurance
  • Family breakdown cover
  • Mobile phone insurance
  • Cashback with Everyday Offers
  • Arranged overdraft
  • £10 account management fee
  • High interest rate charged on overdraft
  • Insurance comes with individual T&Cs
Interest rate 0% AER
Minimum opening balance £1
Minimum operating balance £1
Switch service guarantee Yes
Account fee £3 per month (Account fee waived if account credit with at least £2000 per month). £10 per month
Overseas cash withdrawals 2.99%

Cashback offers

Chase - Current Account - Receive 1% cashback on everyday purchases for 12 months
Chase Current Account - Current Account
Finder score
4 ★★★★★
Read review

£0

Min. opening balance

£0

Account fees

1% AER

Interest (AER)

Receive 1% cashback on everyday debit card purchases capped at £15.
This account from digital bank Chase offers a range of rewards with no monthly fee. Whenever you spend on your Chase debit card, whether at home or abroad, you’ll earn 1% cashback (capped at £15 per month). You can transfer your cashback whenever you like. Plus, you can round up your spending to the nearest £1 and the difference will automatically be saved for you - your round-up balance will even earn 5% interest. You’ll also have access to the Chase Saver account which pays a competitive rate of interest, and you’ll be able to spend on your debit card fee-free across the globe.
  • Rewards when you spend
  • Interest when you don’t
  • No fees abroad from Chase
  • No branches if you prefer face-to-face banking
  • Can’t deposit cash or cheques into the account
  • Overdrafts not available yet
Interest rate 0% AER
Minimum opening balance £0
Minimum operating balance £0
Switch service guarantee Yes
Account fee £0
Overseas cash withdrawals 0%
Santander Edge - 1% cashback on household bills and 1% cashback at supermarkets and on travel costs (exclusions apply)
Edge Current Account
Finder score
4.4 ★★★★★
Go to site Read review

£0.01

Min. opening balance

£3 per month

Account fees

0% AER

Interest (AER)

£175 cash when you switch to a Santander Edge current account. T&Cs apply.
Santander Edge is an everyday current account which allows you to earn cashback on selected household bills and essential spending. You can earn cashback on selected household bills when you pay by direct debit and cashback at supermarkets and on travel costs when you use your debit card. Plus, you’ll have access to the Santander Edge saver account which pays a competitive rate of interest. In return, you’ll need to pay a monthly fee to maintain the account and meet certain eligibility criteria.
Representative example: If you use an arranged overdraft of £1,200, you'll be charged interest at 39.94% EAR variable . Account fee of £3 per month.
  • 1% cashback on essentials
  • 1% cashback on selected bills
  • Linked savings account with 7% AER (variable) in year 1
  • Fee-free ATM withdrawals abroad (at Santander cash machines)
  • Arranged overdraft
  • Dedicated 24-hour customer support
  • £3 account management fee
  • Strict eligibility criteria
  • Interest on overdraft is 39.94% EAR
Interest rate 0% AER
Minimum opening balance £0.01
Minimum operating balance £0.01
Switch service guarantee Yes
Account fee £3 per month
Overseas cash withdrawals 0%
Get a free National Trust day pass when you refer a friend
Current Account - Age 18 and over
Finder score
4.7 ★★★★★
Read review

£0

Min. opening balance

£0

Account fees

3.24% AER

Interest (AER)


Requirements to get the bonus
  • On the starling app, tap profile picture and choose 'refer a friend' then 'share referral link' and message it to your friends
  • Once their account is approved, both will be sent a free National Trust individual day pass

Exclusions

  • Each of the Referring Customers and Referees must acknowledge and agree that no direct financial reward will arise as a result of the scheme and neither party shall in any circumstances attempt to derive a financial or other benefit from the scheme
  • Maximum of 50 daily referrals per referring customer
  • Passes cannot be used at paid for events or certain properties

Offer ends
There's no specified date when this offer ends, but it's subject to availability and can be withdrawn at any time.

Representative example: If you use an arranged overdraft of £1,200, you'll be charged interest at 15% EAR variable .
  • No monthly-fees
  • No overseas fees
  • 100% digital sign-up
  • 24/7 UK customer support
  • 'Settle up' feature to split joint bills
  • Pays interest on current account balance
  • Overdrafts available (only on personal accounts)
  • No branch network
  • Limited options for depositors
  • No competitive switch incentives if you switch your account
  • Limited product range compared to other banks
  • Lower ATM withdrawal limit than some other digital challengers
  • No group savings feature
  • Doesn't have a specific monthly budgeting tool
Interest rate 0% AER
Minimum opening balance £0
Minimum operating balance £0.01
Switch service guarantee Yes
Account fee £0
Overseas cash withdrawals £0

Why do banks offer bonuses and rewards?

Banks want you as a customer. In a competitive market, one way to stand out is to offer bonuses and rewards to encourage you to open an account.

These can include sign-up bonuses, ongoing rewards, refer a friend incentives, high interest on your current account or a linked savings account.

The Current Account Switching Service has made it easier to switch your current accounts. So it’s worth keeping an eye on what’s available and what you can take advantage of.

Can an offer or a reward affect my credit score?

There’s typically no impact on your credit score just from accepting a sign-up bonus or earning rewards using your account.

However, if you’ve switched current accounts to secure the offer or reward, this can affect your credit score. But only temporarily.

When you open a new account, banks tend to do a “hard” credit search, which will show on your credit file. This will reduce your credit score very slightly, but the effect is short-lived.

Bottom line

If you’re looking to earn a little cash or are just interested in changing current accounts, it’s worthwhile to look at the best banking offers available. Whether it’s an initial influx of cash you are after or ongoing rewards, there’s something for everyone. But as well as considering what offer to take advantage of, make sure the current account you’re switching to has the right features, tools and banking options for you.

Frequently asked questions

Banking scores

★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor

Finder scores, in blue, are based on our expert analysis. We also show reviews from users, where we've received more than 10, with a score in yellow. We gather more reviews from customers every year in Finder's customer satisfaction survey.

To find out more, read our full methodology.

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.

More guides on Finder

Go to site