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3 best cashback current accounts on the market

Robin Bowman

Robin Bowman
Jul 5, 2017

A Spokesman Said’s money team has reviewed the market and picked out the top three cashback current accounts on offer right now.


Current accounts silhouette


1. Santander 123 Lite

This is top of the tree at the moment.

The 123 Lite gives you between 1% and 3% cashback on seven different payments, which include water, energy and council tax. But you must pay for these by direct debit.

The highest cashback rates, of 3%, are on phone, broadband, mobile and TV package payments. And you get 2% on gas and electricity.

And if you also have a Santander mortgage then you could also get up to £10 a month cashback on that, too.

You must have at least £500 going into the account each month and at least two active direct debits.

Need help switching? Read: How to switch bank accounts


2. NatWest Reward current account

If you don’t have a Santander mortgage then the NatWest Reward account could offer the best deal.

Currently, the account offers cashback if you use direct debits to pay for the same services as the Santander account above, but at 2%.

You pay £2 a month, will need to have at least £1,500 coming into the account each month and bank online.

You can take your cashback as cash or instead have vouchers to spend at a selection of retailers, like Caffe Nero, or Cineworld.

Royal Bank of Scotland offers exactly the same deal for residents there.


3. The TSB Classic Plus account

As the bank says, “The Plus account now gives you up to £10 a month cashback every month just for doing what you normally do.”

This account pays 3% interest on balances up to £1,500 and £5 cashback if you have two direct debits operating every month.

Plus another £5 cashback if you use your debit card at least 20 times every month.

And there’s no fee. The only requirement is that you pay in a minimum of £500 each month and are registered for internet banking.


A Spokesman Said offers price comparison in energy, insurance and broadband that could save you hundreds.