Compare reward current accounts

You could switch to a reward account that offers incentives like cashback on bills, interest free overdrafts and breakdown cover.

3 results found, sorted by most popular. How we order our comparisons.
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Switch to Santander and receive £130. T&Cs apply.
Santander Everyday Current Account
Account fee & requirements
No monthly fee
Arranged overdraft
39.94% EAR variable
Interest rate
0% AER
Account rewards
Cashback
£130 cashback when you complete a full switch to a Santander Everyday Current Account within 60 days, set up 2 Direct Debits, pay in £1,000 and log into Online or Mobile Banking. T&Cs apply.
You’re over 18 and live in the UK permanently.
Representative Example: If you use an arranged overdraft of £1,200 you will be charged 39.94% APR Representative/EAR variable. Subject to financial status.
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£10%0%0%0%
Eligibility
Maximum AgeUnlimited
Maximum Investment£2,000,000
Minimum Age18 years
Permanent UK Resident
Switch to Santander and receive £130. T&Cs apply.
Santander 123 Lite Current Account
Account fee & requirements
£2 per month, pay in £500+ per month
Arranged overdraft
39.94% EAR variable
Interest rate
0% AER
Account rewards
Cashback
£130 cashback when you complete a full switch to a Santander 123 Lite Current Account within 60 days, set up 2 Direct Debits, pay in £1,000 and log into Online or Mobile Banking. T&Cs apply.
You’re over 18 and live in the UK permanently.
Representative Example: If you use an arranged overdraft of £1,200 you will be charged 39.94% APR Representative/EAR variable. Subject to financial status.
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£10%0%0%0%
Eligibility
Maximum AgeUnlimited
Maximum InvestmentUnlimited
Minimum Age18 years
Minimum Monthly Credit£500
Permanent UK Resident
Switch to Santander and receive £130. T&Cs apply.
Santander 123 Current Account
Account fee & requirements
£4 per month, pay in £500+ per month
Arranged overdraft
39.94% EAR variable
Interest rate
0.3% AER (on up to £20,000)
Account rewards
Cashback
£130 cashback when you complete a full switch to a Santander 123 Current Account within 60 days, set up 2 Direct Debits, pay in £1,000 and log into Online or Mobile Banking. T&Cs apply.
You’re over 18 and live in the UK permanently.
Representative Example: If you use an arranged overdraft of £1,200 you will be charged 39.94% APR Representative/EAR variable. Subject to financial status.
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£10.3%0.3%0.3%0.3%
£20,0010%0%0%0%
Eligibility
Maximum AgeUnlimited
Maximum InvestmentUnlimited
Minimum Age18 years
Minimum Monthly Credit£500
Permanent UK Resident

Compare another type of current account

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Our services are provided at no cost to you. We may receive a commission from the companies we refer you to, but this does not affect what you will pay for the product you choose.

What is a reward current account?

A reward current account with bank offers you rewards for banking with them.

What kinds of rewards are offered with these accounts?

Different banks or building societies offer different rewards. Some of the rewards offered can include:

  • 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:

Here are the features of reward and packaged current accounts.

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.

Here's what to look our for when comparing reward bank accounts:

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

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.

Here is how to work out which reward account is suitable for you

Reward bank accounts FAQs

Banks usually take their fees from your account on a set day each month.

Yes, although many banks only let you hold one current account with them. Too many accounts could also harm your credit record.

Some accounts pay interest on your balance, and this comparison shows what rate each one pays. Some come with a separate savings account too.

You can use the Current Account Switch service to move to a new bank in just seven days.

Only if your bank mis-sold the account to you, e.g. they did not tell you about the fees. You can reclaim them by complaining to your bank.

About our current accounts comparison

Our comparison tables include providers we have commercial arrangements with. The number of listings in our tables can vary depending on the terms of those arrangements, as well as other market developments. They are all from lenders regulated by the Financial Conduct Authority (FCA). Here is more information about How our website works.

We have commercial agreements with some of the companies in this comparison and get paid commission if we help you take out one of their products or services. Find out more here.

You do not pay any extra and the deal you get is not affected.

Last updated: 26 August, 2020