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Compare and choose'I’ve earned £600 in cashback – here’s how the latest deals compare'
With Chase set to double its cashback rate from July, Matthew Jenkin shares tips for boosting your rewards
Matthew is an award-winning journalist, specialising in savings, tax and insurance.
As a budget-conscious personal finance expert, news that Chase is doubling its cashback rewards from July is music to my ears.
I’ve quietly earned hundreds of pounds on everyday spending since opening an account nearly four years ago, but I’d all but abandoned it after tighter rules shrank the list of eligible purchases. Now, with cashback set to rise from 1% to 2% from July and dining added to the list of eligible spending, I’m reaching for my blue numberless debit card again.
But with other cashback deals out there, is it time I switched? Here, I compare the best cashback deals on the market and show you how to maximise your haul.
What do cashback accounts offer?
A cashback current account rewards you for everyday spending, paying a percentage of the amount purchased – usually via your debit card.
It’s an easy way to earn rewards on spending you’d be doing anyway, but there are a few common catches to be aware of:
- Cashback caps: providers set a limit on the amount you can earn per month. Once you've hit that ceiling, you'll stop earning rewards on eligible purchases.
- Spending restrictions: Cashback may only apply to specific types of spending, like groceries or fuel, and you might not earn anything on purchases made overseas.
- Changing rates: Higher cashback rates may only last for an introductory period (for example,12 months) before dropping to a lower standard rate.
- Minimum pay-in requirements: You may need to deposit a certain amount each month (for example £1,000 to £1,500) to qualify for cashback.
- Fees: Many cashback accounts have monthly fees that ultimately reduce your overall earnings.
How do the cashback deals compare?
This table shows the current accounts that pay cashback, as of 28 May 2026, ordered by maximum cashback per month.
| Current account | Cashback rate | Maximum you can earn per month | Maximum annual cashback | Monthly fee |
|---|---|---|---|---|
| Chase | 1% on groceries, public transport and fuel (for the first year only). From July this will rise to 2% | £15 (£20 from July) | £180 (£240 from July) | £0 |
| Santander Edge Up account | 1% on household bills paid by direct debit | £15 | £180 | £5 |
| Santander Edge | 1% on household bills paid by direct debit | £10 | £120 | £3 |
| Zopa Biscuit | 4% on household bills paid by direct debit (for the first year only) | £6.60 | £80 | £0 |
| Nationwide FlexDirect | 1% per month for one year on all purchases | £5 | £60 | £0 |
| TSB Spend and Save Plus | £5 cashback for making 20 debit purchases per month | £5 | £24 | £3 |
Chase and Zopa double cashback offers
There was good news for cashback hunters in May, as both Chase and Zopa announced they were doubling deals for current account customers.
Chase was once king of cashback, offering 1% back on most purchases, but it lost its appeal last year after cutting the list of eligible purchases. It's now trying to regain its crown by increasing the rate to 2% from 1 July 2026.
The cashback cap will also increase to £20 a month, meaning you could earn up to £240 a year on purchases. It's also added a new category for dining in and out, meaning you'll now get rewarded for eating or drinking at restaurants and cafés, as well as ordering takeaways.
Hot on the heels of Chase is Zopa. It launched a 4% cashback deal on direct debits for new customers of its Biscuit current account. The offer means you could potentially earn up to £80 a year when paying household bills. The offer expires on 9 June 2026.
As always with cashback current accounts, these latest deals come with strings attached, so make sure you read the small print first.
Which cashback banks score best with customers?
Big cashback offers can be tempting, but the best account for you will also depend on fees, restrictions and customer service. Our experts compare the leading cashback current accounts and reveal which providers earned the highest Which? customer scores.
Read our full guide to the best bank accounts for cashback in 2026
'Save don't spend cashback for long-term returns'
Mock me all you like and call me a penny pincher, but I love a bargain and get a kick out of the smallest savings on purchases. So when Chase launched its cashback current account in the UK a few years ago, I was all in.
Since I opened the account back in November 2022, I've earned more than £600 in cashback on spending on everything from supermarket shopping to commuting.
The shine wore off last year when the provider brought in new restrictions on spending, so I also opened Nationwide's FlexDirect account in April, which has fewer rules on what qualifies for rewards and pays cashback worth up to £5 a month.
As long as you meet the criteria, there’s nothing stopping you opening more than one cashback current account.
The next question is what to do with the cashback once it lands in your account.
While you could just spend it, placing it in a savings account or tax-free Isa means the money will gradually grow over time. You can currently earn up to 5% AER on an instant-access account.
Regular saver accounts are also perfect if you only have a small amount of cash to tuck away each month. You’ll usually need to pay in a set minimum each month, with a cap on deposits – typically between £250 and £500.
In return, these accounts offer interest rates far higher than most other types of savings product. Zopa, for example, pays the top rate of 7.1%. First Direct and The Co-operative Bank offer 7%.
Just be aware that despite the high interest rates, the amount of interest you earn might be more modest than you'd expect, because you can only pay in limited amounts each month.
- Find out more: best savings accounts 2026
3 ways to make the most of cashback
Cashback rates are only part of the equation. A few smart habits can help you earn more and make sure you don’t miss out on rewards.
1. Set up a standing order
If you’ve got a cashback current account that needs a minimum monthly pay-in, set up a standing order so you don’t miss out on the reward.
For example, the Nationwide FlexDirect account pays up to £5 cashback each month, but only if you pay in at least £1,000. If it's not your main account, automating the transfer saves having to remember it every month.
2. Use cashback websites and apps
Cashback sites also offer rewards when you shop through their links. Popular options include Quidco and TopCashback.
Some lesser-known sites also offer cashback on gift card purchases. For example, Cheddar, HyperJar and Jam Doughnut allow users to buy gift cards for major retailers such as Asda and John Lewis, offering instant cashback on the purchase.
Depending on any restrictions, you could use your cashback debit card to boost the total amount you earn in rewards on online transactions made through these sites.
- Find out more: cashback sites explained.
3. Check for retailer cashback offers
Many banks run cashback schemes where you can earn extra rewards when spending with selected retailers.
This can be an easy way to boost your cashback on spending you were already planning to do.
