Martin Lewis has highlighted a Santander account that offers 6% interest and cashback on bills. The Money Saving Expert has revealed the top bank accounts for cashback and perks.
Included in the list is Santander’s Edge account, which offers 1% cashback on water, energy, council tax, mobile, broadband, phone, and paid-for TV bills (maximum £10 a month). There’s also 1% debit card cashback on grocery, fuel, and travel spending (maximum £10 a month) – but this will be ending in September. The Money Saving Expert says this debit card also gives “near-perfect” exchange rates abroad. You can open it, without switching, and use it alongside your main account – “great to use as a bills account”, though you do need to pay a minimum £500 a month in. You also get a linked 6% easy-access saver (maximum £4,000, can’t be opened jointly), plus the debit card is fee-free for overseas spending and ATM withdrawals. To get the interest and cashback, you must pay in £500-plus a month and have two or more direct debits.
Also included in the Money Saving Expert’s list of top bank accounts for cashback and perks is Zopa’s Biscuit account, Chase’s current account, and Lloyds’ Club Lloyds.
Zopa’s Biscuit pays 2% fixed cashback on direct debits for a year (maximum £30 cashback over the year). This includes bills such as energy, broadband and mobile, but also includes any payments made from the account via direct debit. It also pays 2% fixed interest on the current account balance for a year with no maximum.
You can also open a linked 7.1% variable interest regular saver, which you can put up to £300 a month in. Maxed out, that gives £138 interest over the year. Its debit card offers fee-free overseas spending, as well as fee-free ATM withdrawals up to £200 within a 30-day period (2% fee above).
Chase’s current account offers 1% cashback when spending on UK groceries, transport, and fuel (maximum £15 a month). You must have the card for one year and pay in £1,500 a month for this. You also get a “near-perfect rate” for spending abroad, though you won’t get any cashback.
New customers can also open their linked easy-access saver within 31 days of opening the account, which gives 5% (2.75% variable and 2.25% fixed 12-month bonus). Plus, there’s a ’round-up’ account which pays 5% interest.
Club Lloyds has no cashback available but instead offers rewards including 12 months’ Disney+ (with ads), six cinema tickets, a Coffee Club & Gourmet Society membership, or a subscription to a magazine.
There’s a £5-a-month fee unless you pay in £2,000-plus a month. You also get access to a linked regular saver paying 6.25% fixed interest for a year on up to £400 a month (maxed out, it’s £161 a year interest), and the debit card has no fees on overseas spending with “near-perfect” exchange rates.
Plus, there’s 1.5% interest paid on your current account balance falling between £1 and £3,999 and 3% paid on any part of the balance between £4,000 and £5,000 when you pay out two or more direct debits a month.
