RBS current accounts for July 2020

Earn cashback on your bills and access a wide range of perks with RBS current accounts.


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Royal Bank of Scotland
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Customer service and mobile experience are lacking
RBS’ current accounts come with all the solid benefits of a big bank, such as safety, a wide range of options you can choose among, enticing rewards and the opportunity to talk things through in person at one of the branches.

The rewards come in return for a monthly fee, but if you’re the person who pays the bills in your household, they can still make a pretty good deal.


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Types of current accounts from RBS

RBS has a full range of current accounts and a particularly extensive offer when it comes to rewards.

  • Reward and incentive accounts

    You can choose among three different RBS rewards accounts that offer cashback on your bills and other perks in return for a monthly fee. Compare reward accounts on our dedicated page if you’d rather go for a fee-free account instead.
    Learn more about reward and incentive accounts

  • Student accounts

    Student accounts usually come with great perks, so it’s always a good idea to compare them and make sure you get what you like best. RBS’ student account benefits include a conspicuous overdraft feature and the option to choose between an Amazon Prime membership, a National Express coachcard or a tastecard with discounts on your meals.
    Learn more about student accounts

  • Children’s accounts

    Your children can get an RBS account when they’re as young as 11 – it will help them get an early start at managing their money and also give them a nice little interest rate on their pocket money.
    Learn more about children’s accounts

The benefits of banking with RBS

  • Perks. Perks and rewards are kind of RBS’ specialty – available options include cashback on your bills, travel insurance, mobile phone insurance and car insurance (breakdown cover).
  • Multiple ways to bank. Whether you’d rather do it all online and never visit a branch in your life, or manage your finances in person or on the phone, RBS has got you covered.
  • Mobile banking app. RBS has a clean app that allows you to see all your accounts in one place, including the ones you have with other banks.
  • Global acceptance. If you bank with RBS you’ll get either a Visa or a Mastercard, so you really don’t have to worry about card acceptance, no matter where you are in the world.
  • Round the clock assistance. If you lose your card, or if it’s stolen, you can call RBS 24/7 to get assistance.

Opening an account with RBS

To open an account with RBS, you’ll have to provide the following information:

  • Your personal details and address history.
  • How much you expect to pay in each month.
  • Your salary details and any assets you have.
  • Your nationality/citizenship.
  • Proof of identity (passport, driving licence, EEA or Swiss national identity card).
  • Proof of address (utility bill, bank statement).

You can open an RBS account online or by visiting a branch.

Why should I compare current accounts anyway?

In one way or the other, you use your current account every day, often multiple times a day. When you buy your morning coffee, when you plan a holiday, when you pay the rent, when it’s finally payday… the list is endless. It’s a basic financial product, but it’s a very important one, so you should really find something that’s tailored to your needs.

Also, competition between banks is quite harsh these days, because current accounts are the most basic way they acquire new customers. They often try to attract them with nice rewards or conspicuous switching incentives, so it’s really worth taking a look at what’s around.

What about digital banking?

If you don’t really care about physical branches and want to deal with your banking online, you may want to look into challenger banks. Monzo, Starling and their competitors are all about signing up for a current account in a few minutes instead of days and offering the customers fee-free accounts that come with great mobile apps. Head to our digital banking hub to learn more.

Data indicated here is updated regularly
Name Product Ratings Interest (AER) Arranged overdraft Key benefits Link Representative example
We say
You say
39.94% EAR variable
Interest and fee free overdraft
for first four months
Current account switch service guarantee badge
Up to 15% cashback at a range of major retailers
Representative example: If you use an arranged overdraft of £1,200 you'll be charged interest at 39.94% EAR variable.
Starling Bank
We say
You say
15% EAR variable
Seamless easy switching within 7 days
Current account switch service guarantee badge
No fees for spending or withdrawing cash overseas - currencies are converted at Mastercard’s standard exchange rate
Representative example: If you use an arranged overdraft of £1,200 you'll be charged interest at 15% EAR variable.
We say
Guaranteed acceptance plus a credit building feature
Account fee of £5.95 per month.
We say
Guaranteed acceptance
Current account switch service guarantee badge
Earn cashback on your purchases when you shop through the ThinkMoney rewards portal
Account fee of £10 per month or £15 per month.

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