Earn up to £125 in Free Money
With Christmas just around the corner, the cost of holiday shopping can quickly add up. However, there are ways to save and even earn money as you shop. Several banks and building societies offer cashback rewards on purchases, allowing you to earn up to £125 in free cash this festive season. Read on to discover the top current accounts that can help you maximize your savings.
Santander Edge: Earn Cashback on Bills and Supermarket Shopping
Santander Edge offers customers 1% cashback on bills, including council tax, broadband, and energy. You can also earn the same percentage back on supermarket shopping, up to £10 per month. To qualify for the cashback, you'll need to pay in at least £500 per month and have two active direct debits. Santander Edge Up offers even more cashback on supermarket spending, up to £15 per month, but with a higher monthly fee of £5.
Monzo: Get Instant Cashback with UK's Largest Digital Bank
Monzo, the UK's largest digital bank, recently introduced a new cashback feature for its customers. You can instantly earn between 2-10% cashback on purchases from various retailers, including Asda, Boots, Deliveroo, and H&M. Simply activate the feature on the Monzo app and start swiping your card to earn cashback.
Chase: Earn 1% Cashback on Debit Card Spending
The Chase current account offers customers 1% cashback on the majority of debit card spending, up to £15 per month. While you'll need to spend £1,500 per month to reach the maximum amount, you could earn £30 before the end of 2023. Note that cashback is not available for purchases at antique shops or for gambling or betting.
TSB: Earn Monthly Cashback with Spend and Save Account
By signing up for TSB's Spend and Save current account, you can earn £5 cashback every month. To qualify, you'll need to make a minimum of 20 payments on the account each calendar month. Customers who recently switched to TSB can earn £10 cashback per month for the first six months, potentially earning £20 before the end of the year.
NatWest: Get 1% Cashback on Qualifying Purchases
With NatWest's Reward account, you can earn 1% cashback on purchases from select retailers. You can earn up to a maximum of £5 cashback per month or £500 worth of qualifying purchases. Additionally, you can earn £4 per month by having two or more direct debits worth at least £2 and another £1 per month by logging into the mobile app. Keep in mind there is a £2 monthly fee for maintaining the account.
Barclays: Earn Cashback at Selected Retailers
Barclays Blue Rewards card allows customers to earn cashback when using their debit card at participating retailers. Depending on the retailer, you can earn up to 15% cashback. While there is a £5 monthly fee and minimum monthly deposit requirement of £800, you could potentially earn £125 in cashback if you spend the average of £835 on Christmas shopping at all participating retailers.
How to Find the Best Current Account
Switching current accounts can offer numerous benefits, including better interest rates and reward features like cashback. To find the best current account for your needs, consider comparing options on price comparison sites such as Uswitch, MoneySuperMarket, and MoneySavingExpert.com. Additionally, many banks and building societies offer cash bonuses to customers who switch to their current accounts. Take advantage of these opportunities to maximize your savings this holiday season.
