What is a cashback current account?
A cashback current account is a bank account that gives you back money as you spend. This will usually be as a percentage of your total purchase. For example, if you have a current account offering 1% cashback, for every £100 you spend you’ll earn £1.
Cashback current accounts can be a good way to make your money work for you if you don’t manage to save enough money each month to take advantage of interest rates.
Is cashback the best benefit to look for?
It all depends on how you use your account. Often you will only be paid cashback on certain purchases, and sometimes even only from certain stores.
This means you will need to make sure you spend in the right way to earn cashback. If you don’t think you’re going to earn the cashback rewards you may want to look for other benefits you can get from a current account.
How much cashback can I get from a current account?
This obviously depends on how much you spend, if you are a big spender (and are spending in the right way) you could earn hundreds of pounds a year. However, you would have to spend many thousands to earn this kind of a return.
Also it’s worth noting that many current accounts offering cashback have a maximum they will pay-out, make sure you find out this limit if you’re planning on high spending, as you may not get as much cashback as you plan.
What does 'most popular' mean?
Bank accounts on this table are ranked by popularity, which we have judged according to how many clicks they got over the past 48 hours. Those with the most clicks are at the top of the table, and those with the least at the bottom.
However, the most popular account might not be the account for you. You should still take time to filter and search all the accounts listed to see if there’s one that better fits your needs.
Which banks does uSwitch's comparison include?
We compare current accounts from a wide range of high street banks and newer challenger banks. Compare our current account providers to check which ones we include.