Current Accounts with Cash Back
There are a number of banks that will offer customers cash back with a current account if they agree to switch to over. A current account that offers customers this benefit will generally grant them a free cash sum if they fulfil certain requirements when switching their account over.
Although a free cash back benefit may seem highly appealing, it should be remembered that there may be several requirements that need to be fulfilled by customers in order for the offer to be considered valid.
The following are some examples of common requirements that may be included as part of a cash back current account:
- Some banks may require that customers deposit a minimum sum
- Banks may stipulate that only customers with suitably high income accounts will benefit
- Customers may be expected to make no withdrawals for a certain period, 3,6 or 12 months etc
If you are searching for a current account with cash back, it is recommended to compare current accounts from several different providers in order to find the best deal available, and to help you we have created some easy to use comparison tables.
|Account||Interest (AER)||Overdraft Rate||Funding Required*||Fee pm||Features||Apply|
|FlexDirect Current Account||5.0%*||0% for 12 months||£1,000 per month||N/A||5.0% IN-CREDIT INTEREST on balances up to £2,500 for the first year.||More Info >|
Nationwide FlexDirect Current Account
|Nationwide FlexPlus Current Account||3.0%*||0% for first £250||No minimum||£13||3.0% INTEREST on balances up to £2,500||More Info >|
Nationwide FlexPlus Current Account
Santander Bank »
|Santander 123 Current Account||1.50%*||Up to £3 per day||£500 per month||£5 pm||*1.50% AER (variable) on your entire balance up to £20,000. Up to 3% cashback on household bills.||More Info >|
Santander 123 Current Account
|Nationwide FlexAccount Current Account||N/A||0% for first 3 months||No minimum||N/A||3 months interest-free overdraft and no monthly account fee||More Info >|
Nationwide FlexAccount Current Account
First Direct »
|1st Account Current Account||N/A||0% for first £250||No minimum||Free if funding £1,000 or £10 below £1,000||Switch your current account and you'll get a free gift worth up to £150. £250 interest free overdraft. Free banking if paying over £1,000 per month. Satisfaction guarantee - £100 if you leave within 6 months||More Info >|
First Direct 1st Current Account
It is important to remember that there will usually always be a number of important terms and condition that must be adhered to by customers in order to receive this benefit. In many instances, these offers may be included by banks as an attempt to persuade customers to switch over from their current provider.
Before switching to a current account with cash back, these terms and conditions should be carefully considered. In order to compensate for this cash offer, a bank may for example charge an unusually high rate for its overdraft services for a particularly lengthy period of time.
In order to find a current account with benefits that are best suited to your individual requirements, it is strongly recommended to compare different current account offers as much as possible.