Current accounts with benefits

Compare current accounts with benefits

Current accounts that give you extra: Want an account that gives you additional benefits, exclusive rates & products? There is often a fee but it can be worth paying. Find the deal that’s best for you and get switching.

NatWest - £125 cashback offer

RECEIVE £125 CASHBACK WHEN YOU SWITCH AND EARN ON AVERAGE AN ADDITIONAL £83 IN REWARDS - £2 MONTHLY ACCOUNT FEE APPLIES.

Eligibility conditions apply 

Natwest

NatWest reward account

  • Get £125 cashback when you switch your current account using the Current Account Switch Service.
  • To get the £125 you must pay at least £1,500 into your account every month and log in to mobile banking by January 7, 2019. Offer ends 3 December, 2018.
  • Earn an additional 2% cashback on selected household bills when paid by Direct Debit.
  • To earn rewards you will need to access online or mobile banking at least once every three months. The average customer earns £83 per year in rewards* – so you can boost your overall cashback amount with NatWest rewards.
  • A £2 monthly fee applies and you must pay in £1,500 per month. 
  • You must be 18 or over and a UK resident.
Natwest

Terms and conditions apply 

*You could earn £83 on average in Rewards a year. This figure is based on paying 7 types of selected household bills of £345 a month and is before the Reward monthly account fee is paid. 5 Rewards = £5.00.

Get your deal

M&S Bank - £185 Gift Card offer

£125 M&S GIFT CARD WHEN YOU USE THE SWITCHING SERVICE PLUS £5 PER MONTH GIFT CARD TOP UP FOR 12 MONTHS

YOU CAN’T GET THIS OFFER ON OTHER COMPARISON SITES

Eligibility conditions apply

M&S Bank

M&S Bank cashback current account 

  • Get a £125 M&S gift card when you use the switching service to switch to this current account, plus £5 per month gift card top up for up to 12 months. T&Cs apply
  • To get the £125 gift card, you must use the current account switch service, and you must have at least four active direct debits from the account
  • To get the £5 monthly top up, you must pay in at least £1,250 every month, and you must have at least four active direct debits from the account
  • You must be at least 18 years old to open this account
  • New customers only
M&S Bank

Terms and conditons apply.

Get your deal

Current accounts with benefits - Presented in order according to monthly cashback (highest to lowest)

Account Benefits
  • Cashback

Monthly fee

annual fee No monthly fee

Customer service rating

Great (42%) Ok (39%) Poor (19%)

Customer service ratings provided by users of

  • Cashback
  • Mobile App
  • Overdraft Facility
  • Online Banking
Great for:
  • 2% Rewards on eligible household bills if paid by direct debit. Customers earn on average £83 per year on monthly bills of £345.
But be aware that:
  • You must be 18+ and a UK resident to apply. £2 monthly fee applies and to earn Rewards you need to access online or mobile banking once every 3 months and pay in £1,500 into your eligible account monthly

Monthly fee

annual fee No monthly fee

Customer service rating

Great (28%) Ok (43%) Poor (29%)

Customer service ratings provided by users of

  • Cashback
  • Overdraft Facility
  • Switching Service
  • Mobile App
Great for:
  • 2% Rewards on eligible household bills if paid by direct debit. Customers earn on average £83 per year on monthly bills of £345.
But be aware that:
  • You must be 18+ and a UK resident to apply. £2 monthly fee applies and to earn Rewards you need to access digital banking once every 3 months and pay in £1,500 into your eligible account monthly
M&S M&S

Current Account

Account Benefits
  • Loyalty Rewards
  • Linked Products

Monthly fee

annual fee No monthly fee

Customer service rating

Great (62%) Ok (29%) Poor (9%)

Customer service ratings provided by users of

  • Overdraft Facility
  • Direct Debits
  • Switching Service
  • Online Banking
Great for:
  • Get a £125 M&S gift card when you use the switching service to switch to this current account, plus £5 per month gift card top up for up to 12 months. T&Cs apply
  • You can also open an M&S Monthly Saver account and earn 5% AER
  • Get a £100 interest-free overdraft, with a £50 buffer if you go over your agreed limit, subject to status
But be aware that:
  • You must be at least 18 years old to open this account
  • To get the £125 gift card, you must use the current account switch service and you must have at least four active direct debits from the account
  • To get the £5 monthly top up, you must pay in at least £1,250 every month, and you must have at least four active direct debits from the account
M&S M&S

Premium Current Account

Account Benefits
  • Linked Products
  • Loyalty Rewards

Monthly fee

annual fee No monthly fee

Customer service rating

Great (62%) Ok (29%) Poor (9%)

Customer service ratings provided by users of

  • Online Banking
  • Overdraft Facility
  • Direct Debits
  • Standing Orders
Great for:
  • Get a £125 M&S gift card when you use the switching service to switch to this current account, plus £5 per month gift card top up for up to 12 months. T&Cs apply
  • Get £224 in M&S vouchers every year (£129 to spend on hot drinks, £40 for clothing and homeware, £45 for treats and delights and a £10 birthday gift)
  • You can also open an M&S Monthly Saver account and earn 5% AER
But be aware that:
  • You'll have to pay a £10 monthly fee
  • To get the £125 gift card, you must use the current account switch service and you must have at least four active direct debits from the account
  • To get the £5 monthly top up you must pay in at least £1,250 every month, and you must have at least four active direct debits from the account
NatWest NatWest

Reward Silver Account

Account Benefits
  • Travel Insurance
  • Mobile Insurance
  • Cashback

Monthly fee

annual fee No monthly fee

Customer service rating

Great (42%) Ok (39%) Poor (19%)

Customer service ratings provided by users of

  • Cashback
  • Mobile App
  • Overdraft Facility
  • Online Banking
Great for:
  • Earn 2% in rewards on selected household bills with unlimited rewards if paid by Direct Debit. Customers earn on average £83 per year based on monthly bills of £345
  • Account benefits including European travel insurance, tastecard, mobile phone insurance and up to 40% off cinema tickets. T&Cs apply
But be aware that:
  • You must be 18 or over and a UK resident to apply. £10 monthly fee applies. To earn rewards you will need to access digital banking once every three months
Account Benefits
  • Mobile Insurance

Monthly fee

annual fee No monthly fee

Customer service rating

Great (28%) Ok (43%) Poor (29%)

Customer service ratings provided by users of

  • Cashback
  • Online Banking
  • Mobile App
  • Switching Service
Great for:
  • Earn 2% in rewards on selected household bills with unlimited rewards if paid by Direct Debit. Customers earn on average £83 per year based on monthly bills of £345
  • Account benefits including European travel insurance, tastecard, mobile phone insurance and up to 40% off cinema tickets. T&Cs apply
But be aware that:
  • You must be 18 or over and a UK resident to apply. £10 monthly fee applies. To earn rewards you will need to access digital banking once every three months
NatWest NatWest

Reward Platinum Account

Account Benefits
  • Travel Insurance
  • Breakdown Cover
  • Mobile Insurance
  • Cashback

Monthly fee

annual fee No monthly fee

Customer service rating

Great (42%) Ok (39%) Poor (19%)

Customer service ratings provided by users of

  • Cashback
  • Mobile App
  • Overdraft Facility
  • Online Banking
Great for:
  • Earn 2% in rewards on selected household bills with unlimited rewards if paid by Direct Debit. Customers earn on average £83 per year based on monthly bills of £345
  • Account benefits including worldwide travel insurance, tastecard, mobile phone insurance and up to 40% off cinema tickets. T&Cs apply
But be aware that:
  • You must be 18 or over and a UK resident to apply. £20 monthly fee applies.To earn rewards you need to access online and mobile banking once every three months
Account Benefits
  • Breakdown Cover
  • Mobile Insurance
  • Travel Insurance

Monthly fee

annual fee No monthly fee

Customer service rating

Great (28%) Ok (43%) Poor (29%)

Customer service ratings provided by users of

  • Cashback
  • Overdraft Facility
  • Switching Service
  • Mobile App
Great for:
  • Earn 2% in rewards on selected household bills with unlimited rewards if paid by Direct Debit. Customers earn on average £83 per year based on monthly bills of £345
  • Account benefits including worldwide travel insurance, tastecard, mobile phone insurance and up to 40% off cinema tickets. T&Cs apply
But be aware that:
  • You must be 18 or over and a UK resident to apply. £20 monthly fee applies. To earn rewards you will need to access digital banking once every three months

 

See more current accounts

Guides

  

Current accounts. Trust us to explain them simply

  

With benefits guide

What is a with-benefits account?

A 'with-benefits’ account is a current account that offers a raft of extras but also charges a monthly fee for use. For the right account holder, extras such as free breakdown cover, travel insurance, phone insurance, home emergency cover and discounts more than offset the monthly fee.

Because with-benefits accounts are laden with extras, they are often referred to as packaged or added-value accounts.

We've listed these accounts based on the value you'd get from them if you took advantage of all the features on offer, from the highest value to the lowest value.

Who do they suit?

With-benefits current accounts are good for those who tend to buy the extras anyway and so will save money despite the fee. Some accounts have fairly high minimum monthly payments, so these are best suited to those earning a high salary who can meet this requirement.

They can also be useful as a joint account, as then you can both benefit from the perks while still paying just one fee.

Benefits

Although most of us expect our current account banking to be free, these deals are slowly catching on as the perks improve and people recognise the savings they can make. If you are considering a packaged account, be sure you will use the perks included.

The range of added benefits vary depending on the account and the monthly fee you opt to pay, so it’s important to take time to search the market and find the most suitable packaged account for your needs and circumstances. Common extras include travel insurance, breakdown cover and mobile phone insurance.

Many banks and building societies also offer preferential rates on other products such as savings and mortgages, to their packaged account customers.

Negatives

The fact there is a monthly fee will be a turn-off for many people.

Some of the perks that come with a with-benefits account need to be signed up for – you might need to register your phone for the mobile insurance, or provide information for your travel policy. Make sure you get around to registering, otherwise you’re wasting money.

Typically, as well as the monthly fee, there will be a minimum amount you will need to pay into the account each month in order to qualify. This can mean that some people’s wages aren’t enough to let them qualify for these kinds of account.

Alternatives

If you aren’t going to use the extras that come with a with-benefits account then it’s probably not worth paying the monthly fee to have one. Instead, consider how you use your current account. If you’re frequently overdrawn, go for a deal that gives you a generous interest-free overdraft. If you’re usually in credit, then a high-interest current account could be a better option.

High earners with more complicated banking needs may not find a packaged account is right for them and may prefer a premier account, which gives them access to a relationship manager.

There are even reward accounts that pay you an amount each month, so a fee-paying account is not always the best option.

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