A guaranteed amount of cashback, e.g. £5 per month added to your account
Cashback on bills you pay from your account, e.g. 3% of what you spend on utility bills
Cashback on your debit card spending when you use it in some shops
An interest free overdraft
Free cash withdrawals abroad

Some also offer other financial products at no extra cost other than the account's monthly fee. These can include:

What is a packaged current account?

How to find the best reward current account

There are many reward bank accounts the offer different rewards. The best reward current account for you, is one that gives you the rewards you're looking for.

You may prefer getting cash back, rather than free travel insurance. It depends on your lifestyle and your needs.

Look for cash rewards for switching

Some banks pay you to switch your existing current account to them.

They pay up to £150 once you have moved your account to them and met their conditions like paying in a certain amount or setting up direct debits.

Check the fees attached to reward current accounts

Reward current accounts come with a fee you have to pay each month, which is usually between £1 and £45. The amount is automatically taken from your balance.

This comparison shows how much each reward account can cost per month.

Check the requirements

Some reward bank accounts only give you their benefits if you:

Pay money in each month: Some accounts set a minimum you have to add to the account every month.
Set up direct debits: Some accounts reward you if you pay a minimum number from your account, e.g. two direct debits per month.

Compare reward accounts

You can choose an account using this comparison, which includes every current account that offers extra benefits and rewards for a fee.

For each account, it includes details of:

The monthly fee
The conditions for holding the account
If the account offers interest and the rate it pays
Its overdraft if it has one

Add up the value of the benefits the accounts offer, including any cashback, interest, included financial products and how much a free overdraft could save you each month.

Subtract the monthly fee from this amount, so you know exactly how much you can get from each account to work out which one is best.

Reward bank accounts FAQs

About our current accounts comparison

Last updated: 10 May, 2022

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Why compare current accounts with money.co.uk?

Comparing current accounts could save you money on overdrafts, get you cashback on bills or see you paid more interest on positive balances. Our multiple award-winning comparison service helps make sure you get the best deal possible based on your individual circumstances. Our aim is to provide you with the most up-to-date information, as well as useful tools and calculators so to help you make life's most important decisions and take control of your money.

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We have always aimed to provide the best possible services to bridge the gap between our users and our clients. Over the years, we have been thrilled to be recognised by various prestigious bodies and organisations for those efforts.

Last updated: 10 May, 2022