Best current accounts & debit cards with cashback in the UK 2024

Learn how current accounts with cashback work, whether they're right for you and how to find the best current account.

Fancy earning a bit of extra cash every time you spend money or pay your bills? A current account with cashback could be the answer — and you might be able to take advantage of a switching deal too.

Here’s more about the pros and cons of cashback accounts. Plus, we’re here to help you compare accounts so you can choose the right one for you.

Latest current accounts with cashback offers

Bank/E-money account providerAccount nameCashback offeringAccount fee
Lloyds BankClub LloydsUp to 15% cashback when using your debit card at selected retailers, including Costa Coffee, Sainsbury’s, Sky and Booking.com.£3.00
ChaseCurrent accountGet 1% cashback on everyday debit card spending (capped at £15 per month) for the first 12 months as a new customer.£0
SantanderSantander Edge Up1% cashback (up to £15 a month) on selected household bills when you pay by direct debit and 1% cashback (up to £15 a month) at supermarkets and on travel costs when you use your debit card.£5 per month
NatwestReward accountEarn up to £5 a month with NatWest Rewards.£2 per month
RBSReward accountEarn up to £5 a month with RBS Rewards.£2 per month
MonzoMonzo PerksEarn 2 to 15% from various retailers including Disney+, Lego, LNER and more. Plus a weekly Greggs treat, an annual Railcard every year and access to an exclusive savings account£7.00 per month
MonzoCurrent accountEarn 2 to 10% from various retailers including Disney+, Lego, LNER and more.£0
SantanderSantander Edge1% cashback (up to £10 a month) on selected household bills and 1% cashback (up to £10 a month) at supermarkets and on travel costs when you use your debit card.£3 per month
Virgin MoneyClub M accountCashback from selected retailers on purchases made with your debit card including LNER, Virgin Voyages, Sunglass Hut and more. This can be traded up for eGift cards.£12.50 per month
RevolutStandard accountEarn RevPoints from selected retailers including Amazon, Sports Direct, BT Broadband and accomodation through RevStays. RevPoints are earned through everyday spending, turning card purchases into perks.£0
TSBSpend & Save£5 cashback every month for the first six calendar months if you make at least 20 debit card payments in that month.£0
TSBSpend & Save Plus£5 cashback every month if you make at least 20 debit card payments in that month plus other benefits.£3 per month
HalifaxReward accountChoose from £5 into your account, 1 Vue cinema ticket or 3 digital magazines.£3.00 per month
StarlingCurrent AccountUse the Tail app to get cashack offers from various retailers.£0
Danske BankDankse RewardA £5 reward every month paid directly into your account.£2 per month

Latest reviews of current accounts with cashback

Chase Current Account

Chase Current Account

Finder Score 4.0★★★★★

See dealRead review
Minimum opening balance£0
Account fees£0
Interest (AER)0% AER
Receive 1% cashback on everyday purchases capped at £15.

The cashback reward: 1% cashback on everyday debit card spending (capped at £15 per month) for the first 12 months as a new customer

Other benefits

  • No fees from Chase on spending abroad
  • No fees from Chase on ATM withdrawals abroad
  • Interest on round-up spending

The potential cashback value: A maximum of £15 per month if spending £1,500 on eligible purchases

Any requirements: 18+, UK residents

Santander Edge Current Account

Santander Edge Current Account

Finder Score 4.4★★★★★

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Minimum opening balance£0.01
Account fees£3 per month
Interest (AER)0% AER
£150 cashback for accounts switched using the Current Account Switching Service provided at least £1.5K credited and 2 direct debits active within 60 days of request.

The cashback reward: 1% cashback on selected household bills when you pay by direct debit and 1% cashback at supermarkets and on travel costs when you use your debit card

Other benefits

  • Exclusive savings rates
  • Get cashback, vouchers, prize draws and personalised offers through Santander Boosts
  • Fee-free debit card spending abroad
  • Fee-free cash withdrawals abroad

The potential cashback value: Up to £20 a month (up to £10 a month cashback on household bills and up to £10 a month on essential spend)

Any requirements: You must pay at least £500 into your account each month and have 2 active direct debits on the account.

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.

Santander Edge Up Current

Santander Edge Up Current

Finder Score 4.4★★★★★

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Minimum opening balance£0
Account fees£5 per month
Interest (AER)3% AER
£150 cashback for accounts switched using the Current Account Switching Service provided at least £1.5K credited and 2 direct debits active within 60 days of request.

The cashback reward: 1% cashback on selected household bills when you pay by direct debit and 1% cashback at supermarkets and on travel costs when you use your debit card

Other benefits

  • Interest on current account balance
  • Get cashback, vouchers, prize draws and personalised offers through Santander Boosts
  • Fee-free debit card spending abroad
  • Fee-free cash withdrawals abroad

The potential cashback value: Up to £30 a month (up to £15 a month cashback on household bills and up to £15 a month on essential spend)

Any requirements: You must pay at least £1,500 into your account each month and have 2 active direct debits on the account.

Representative example: If you use an arranged overdraft of £1,200, you'll be charged interest at 39.94% EAR variable. Account fee of £5 per month.

TSB Spend & Save Account

TSB Spend & Save Account

Finder Score 4.3★★★★★

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Minimum opening balance£0
Account fees£0
Interest (AER)0% AER
Earn £5 cashback a month for six months when making 20 or more debit card payments each month.

The cashback reward: £5 a month for the first 6 months

Other benefits

  • Save into Savings Pots and earn interest
  • Round ups feature to help you save cash

The potential cashback value: £30 over 6 months

Any requirements: You’ll need to make 20 debit card payments each month to earn cashback

Representative example: If you use an arranged overdraft of £1,200, you'll be charged interest at 39.9% EAR variable.

TSB Spend & Save Plus Account

TSB Spend & Save Plus Account

Finder Score 4.5★★★★★

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Minimum opening balance£0
Account fees£3 per month
Interest (AER)0% AER
Earn £5 cashback a month when making 20 or more debit card payments each month.

The cashback reward: £5 a month

Other benefits

  • Save into Savings Pots and earn interest
  • £100 interest-free overdraft
  • Fee-free debit card spending abroad
  • Fee-free cash withdrawals abroad

The potential cashback value: £60 a year (£5 a month)

Any requirements: You’ll need to make 20 debit card payments each month to earn cashback

Monzo Free Account

Monzo Free Account

Finder Score 4.6★★★★★

Read review
Minimum opening balance£0
Account fees£0
Interest (AER)0% AER

The cashback reward: Earn 2 to 10% from various retailers including Disney+, Lego, LNER and more.

Other benefits

  • Fee-free debit card spending abroad
  • Fee-free cash withdrawals in the EEA (free up to £200 a month outside the EEA)
  • Access to competitive savings account
  • Earn £5 cashback when you refer a friend to Monzo

The potential cashback value: Depends on where you shop

Any requirements: If you have the free plan, fee-free cash withdrawals require you to pay in at least £500 a month and have a direct debit on the account. Alternatively, you’ll qualify if you’ve received a Department for Work and Pensions or Department for Communities payment in the account or a student loan payment.

Representative example: If you use an arranged overdraft of £1,200, you'll be charged interest at 39% EAR variable.

Monzo Perks Account

Monzo Perks Account

Finder Score 4.6★★★★★

Minimum opening balance£0
Account fees£7.00 per month
Interest (AER)0% AER

The cashback reward: Earn 2 to 10% from various retailers including Disney+, Lego, LNER and more.

Other benefits

  • A weekly Greggs treat
  • An annual Railcard every year
  • Access to an exclusive savings account
  • Fee-free debit card spending abroad
  • Fee-free cash withdrawals in the EEA (free up to £200 a month outside the EEA)
  • Access to competitive savings account
  • Earn £5 cashback when you refer a friend to Monzo

The potential cashback value: Depends on where you shop, if you are a fan of Greggs and travel frequently by train.

Any requirements: If you have the free plan, fee-free cash withdrawals require you to pay in at least £500 a month and have a direct debit on the account. Alternatively, you’ll qualify if you’ve received a Department for Work and Pensions or Department for Communities payment in the account or a student loan payment.

Representative example: If you use an arranged overdraft of £1,200, you'll be charged interest at 39% EAR variable. Account fee of £7 per month.

Revolut Standard Account

Revolut Standard Account

Finder Score 4.3★★★★★

See dealRead review
Minimum opening balance£0
Account fees£0
Interest (AER)0% AER
Get a £20 welcome bonus when you spend your first £20 (T&Cs apply).

RevPoints rewards: Earn RevPoints at selected retailers as well as on accommodation when you book through Revolut Stays. RevPoints are earned through everyday spending, turning card purchases into perks.

Other benefits

  • Fee-free ATM withdrawals up to £200 a month
  • Fee-free currency exchange on weekdays up to £1,000 a month

The potential RevPoints value: Depends on where you shop

Any requirements: None

Danske Cash Reward Account - Funded

Danske Cash Reward Account - Funded

Minimum opening balance£0.01
Account fees£2 per month
Interest (AER)0% AER
Earn £5 gross per month if £1K paid in, receive account statements digitally and make at least 8 debit card transactions per month.

The cashback reward: £5 a month

Other benefits: None

The potential cashback value: £60 a year - but you'll spent £24 per year on the £2 monthly account fee

Any requirements: Pay in at least £1,000 a month, opt for paperless statements and complete at least 8 debit card transactions per month

Representative example: If you use an arranged overdraft of £1,200, you'll be charged interest at 39% EAR variable. Account fee of £2 per month.

Virgin Money Club M Account - Age 18 and over

Virgin Money Club M Account - Age 18 and over

Finder Score 4.1★★★★★

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Minimum opening balance£0.01
Account fees£12.50 per month
Interest (AER)1% AER
Covers account holder, partner and up to 4 dependent children aged under 18.

The cashback reward: Earn cashback when you make purchases with your card at selected retailers including LNER, Virgin Voyages, Sunglass Hut and more. This can be traded up for eGift cards

Other benefits

  • Fee-free debit card spending abroad
  • Fee-free cash withdrawals abroad
  • Worldwide family multi-trip travel insurance
  • Worldwide family mobile and gadget insurance
  • UK breakdown cover

The potential cashback value: Depends on where you shop

Any requirements: Download the app to start earning cashback

Representative example: If you use an arranged overdraft of £1,200, you'll be charged interest at 19.9% EAR variable. Account fee of £12.5 per month.

Starling Current Account - Age 18 and over

Starling Current Account - Age 18 and over

Finder Score 4.7★★★★★

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Minimum opening balance£0
Account fees£0
Interest (AER)3.25% AER

The cashback reward: Use the Tail app to earn cashback on your purchases at selected retailers.

Other benefits

  • Fee-free debit card spending abroad
  • Fee-free ATM withdrawals abroad
  • Interest on current account balance

The potential cashback value: Depends on where you shop

Any requirements: You’ll need to use the Tail app to earn cashback.

Representative example: If you use an arranged overdraft of £1,200, you'll be charged interest at 15% EAR variable.

NatWest Reward Account

NatWest Reward Account

Finder Score 4.2★★★★★

Minimum opening balance£0.01
Account fees£2 per month
Interest (AER)0% AER
£180 for accounts switched using the Current Account Switch Service.

The cashback reward: Up to £5 a month which can be redeemed as cashback, or traded up for eGift cards or donated to charity

Other benefits: Earn from 1% in Rewards when you spend on your debit card at partner retailers

The potential cashback value: £5 a month plus additional retailer cashback

Any requirements: Have at least 2 direct debits on the account to earn £4 a month, plus log into the mobile app to earn £1 a month.

Representative example: If you use an arranged overdraft of £1,200, you'll be charged interest at 39.49% EAR variable. Account fee of £2 per month.

Royal Bank of Scotland Reward Account

Royal Bank of Scotland Reward Account

Finder Score 4.2★★★★★

Minimum opening balance£0.01
Account fees£2 per month
Interest (AER)0% AER
Earn £4 back in Rewards per month by making at a minimum of 2 direct debit payments of at least £2 each.

The cashback reward: Up to £5 a month which can be redeemed as cashback, or traded up for eGift cards or donated to charity

Other benefits: Earn from 1% in Rewards when you spend on your debit card at partner retailers

The potential cashback value: £5 a month plus additional retailer cashback

Any requirements: Have at least 2 direct debits on the account to earn £4 a month, plus log into the mobile app to earn £1 a month.

Representative example: If you use an arranged overdraft of £1,200, you'll be charged interest at 39.49% EAR variable. Account fee of £2 per month.

Lloyds Club Lloyds Account

Lloyds Club Lloyds Account

Finder Score 4.3★★★★★

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Minimum opening balance£1
Account fees£3.00
Interest (AER)1.5% AER
£200 for accounts switched using the Current Account Switch Service before 10.12.2024, including at least 3 direct debits.

The cashback reward: Up to 15% on debit and credit card purchases or when you pay by direct debit at selected retailers.

Other benefits

  • Choose one lifestyle benefit each year - 12 months of Disney+, 6 cinema tickets, an annual digital Coffee Club and Gourmet Society membership or an annual magazine subscription
  • Interest on current account balance
  • Exclusive access to savings accounts

The potential cashback value: Depends on where you shop

Any requirements: Pay out 2 different direct debits each month to earn interest

Reward Current Account - Funded

Reward Current Account - Funded

Finder Score 4.2★★★★★

Read review
Minimum opening balance£0.01
Account fees£3.00 per month
Interest (AER)0% AER
Cashback Extras - Earn up to 15% cashback from selected retailers when shopping with a Halifax credit or debit card.

The cashback reward: £5 a month

Other benefits

  • Instead of the monthly cash reward, you can choose one cinema ticket each month or 3 digital magazines per month
  • Access to exclusive savings offers
  • Up to 15% cashback at selected retailers when you spend on your card

The potential cashback value: £60 a year, plus retailer offers

Any requirements

  • Spend at least £500 on your debit card each month or keep £5,000 or more in your account
  • Pay at least £1,500 into your account each month and stay in credit.

Representative example: If you use an arranged overdraft of £1,200, you'll be charged interest at 39.9% EAR variable. Account fee of £3 per month (Account fee waived if account credit with at least £1500 per month)..

Algbra

On 30 June 2024, Algbra ended their rewards scheme, which means you cannot currently get cashback on your Algbra spending. Here’s what they previously offered.

The cashback reward: 1.5% cashback whenever you paid using Apple Pay or Google Pay

Other benefits

  • Fee-free debit card spending abroad
  • Fee-free cash withdrawals abroad
  • Use the carbon calculator to help you measure, monitor and offset the carbon footprint of your transactions

The potential cashback value: Earn a maximum of £22.50 a month

Any requirements: You needed to set up mobile payments to qualify

What is a current account with rewards or cashback?

Some banks offer current accounts that will credit a cash reward back into your account when you make certain purchases using your debit card. These rewards tend to be based on a percentage of your spending.

A lot of these accounts will only pay cashback with certain retailers or on a certain category of spending, such as groceries or travel. Some might give you cashback on bills like council tax or broadband. Most will cap the maximum amount of cashback you can earn per month.

In some cases, you have to “activate” a cashback deal using your bank’s online banking rewards portal before making a purchase. However, some banks’ rewards systems are sophisticated enough to automatically credit cashback whenever you make an eligible purchase.

A lot of current accounts offer cashback instead of paying interest on in-credit balances, although some do both.

How to open a current account with cashback and rewards

Opening a current account with cashback is no different to opening any other type of current account. As with most bank accounts, you can apply to open a current account online, by phone or in-branch.

Before you sign up, make sure you fully understand how the cashback offer works and whether you need to activate it to claim the rewards.

The majority of banks are signed up to the Current Account Switch Guarantee, which guarantees a seamless switch from your existing current account to your new account within seven working days. From time to time the banks offer switching bonuses, which you can get on top of cashback. Visit our switching deals guide to find a list of current offers.

How to choose the best current accounts with cashback and rewards

1. Check if you’re eligible. It’s important to bear in mind that pretty much every cashback or reward scheme offered to current account customers comes with conditions you have to meet, sometimes on a monthly basis.

These typically include a requirement to deposit a minimum amount into the account each month. This shouldn’t be a problem if you have a regular monthly income or salary which you can get paid into that account.

2. Do you spend enough? This may sound like an odd question, but many cashback accounts also require you to spend a certain amount of money each month. For example, you’ll only get the £5 monthly cashback reward with Halifax’s Reward Current Account if you spend at least £500 per month on your debit card and have a daily balance of £5,000 or more.

3. Look out for fees. Annoyingly, a large number of reward or cashback current accounts actually charge a monthly account maintenance fee which can eat into your cashback. So, if you’re attracted by a bank’s promise to give you, say, £5 a month in cashback, make sure you factor in any monthly fees. If the monthly fee is £3, then all you really stand to gain is an extra £2 a month.

But some cashback accounts that charge a monthly fee will waive it if you pay in a certain amount each month.

Above all, make sure that fees don’t result in you actually losing money from a cashback account!

4. Look for convenience. If you already pay some of your regular bills from your bank account with a direct debit, then getting a cashback account that needs you to do that in order to get a regular reward could be an attractive prospect.

Matteo Pennarts's headshot
Case study: Matteo chose Chase because of its cashback

"I chose this account because of its 1% cash back and have earned around £300 since getting the card. It’s a great account and their customer service is amazing. Called 3 times for small issues, including an online shopping scam and was reimbursed and helped within 15 minutes. No phone waiting time, straight to operator. Very friendly staff.

If there’s one thing you’d tell a friend who’s thinking of getting this, what would it be?

Do it!"

How to compare current accounts with cashback

The best way to compare these current accounts is to try and calculate exactly how much you’re likely to earn. This isn’t always easy, because what you’ll earn will be credited as a percentage of your overall spending.

Let’s say one account offers 0.5% cashback on all spending up to £100 per month, while another pays 2% cashback on all grocery shopping up to £250 per month. In this case, the amount of cashback you’ll earn is based on what spending you’re going to do in the future.

Cashback is unlikely to be the only factor you’ll want to consider either. Make sure you also look at features such as interest paid on in-credit balances, overdraft options, customer service and branch access as well.

Perhaps, after all this, you’ll decide that the other factors are more important than the potential cashback that you could earn anyway. For this reason, make sure you compare all features of a current account to figure out which is best for your needs.

What’s the difference between a cashback and reward account?

Many people use these terms interchangeably. Some accounts are purely cashback-based, meaning you get money in return for meeting the account’s requirements. A reward account usually gets you some extras like cinema tickets or discounted movie streaming services.

What kinds of items can you get cashback on?

Some cashback accounts don’t offer a fixed cash amount, but rather give you cashback as a percentage of your spending on some household bills or with selected retailers.
Depending on the account, you can get a percentage cashback on your household bills, a few pence per debit card transaction, and even a percentage of your spending with selected retailers.

Other types of current accounts

While the best cashback current account can put a bit of extra money in your pocket, you might find that other types of bank account can offer you better value.

If you have a less steady income stream, a cashback account that requires you to get a certain fixed amount deposited each month might not be that beneficial.

But, a high-interest current account might work better for you.

Elsewhere, packaged current accounts can offer you benefits ranging from mobile phone and travel insurance, streaming subscriptions and discounted retail offers, in exchange for a monthly fee.

Pros and cons of current accounts with cashback

  • Earn cashback on your purchases
  • Unlike interest, cashback is tax-free
  • Some banks allow you to earn cashback automatically
  • They can come with monthly fees
  • Some accounts offer cashback instead of interest on in-credit deals
  • Some accounts require you to “activate” cashback deals before you can earn money

Comparing cashback offers can be confusing, but try to be realistic and work out what you’re likely to earn each month after the fees have been deducted.”

Katherine Denham, award-winning personal finance expert

Bottom line

In order to unlock the best value from a cashback current account you need to be confident that you can regularly meet its requirements. That means keeping a close eye on your day-to-day personal finances, including how much your regular bills are costing you, the methods you use to pay them, and where you usually spend your money.

Used properly, these types of accounts can offer you a handy bonus each year to help you meet your financial goals. But always weigh up the costs and eligibility criteria of cashback current accounts to work out if they are truly worth it 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.
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Katherine Denham's headshot
To make sure you get accurate and helpful information, this guide has been edited by Kate Steere and reviewed by Katherine Denham, a member of Finder's Editorial Review Board.
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Publisher

Matthew Boyle is a banking and mortgages publisher at Finder. He has a 7-year history of publishing helpful guides to assist consumers in making better decisions. In his spare time, you will find him walking in the Norfolk countryside admiring the local wildlife. See full bio

Matthew's expertise
Matthew has written 285 Finder guides across topics including:
  • Helping first-time buyers apply for a mortgage
  • Comparing bank accounts and highlighting useful features
  • Publishing easy-to-understand guides

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