AN online bank has boosted its cashback offer for customers spending on bills, restaurants and takeaways.
Zopa has revealed it will give current account customers 3% cashback on certain spending.
The cashback will be given on up to £150 a month of spending, which means you can get a maximum of £54 a year.
When you sign up for the account, you can choose ONE of:
- 3% cashback on direct debits, including bills like council tax, energy, water, mobile and home phone, broadband and paid TV
- 3% cashback on restaurants, bakeries and takeaways
- 2.75% variable interest on cash balances
The account does not come with any fees and it also comes with a top debit card for spending overseas.
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The card has near-perfect exchange rates and you can withdraw up to £200 a month from ATMs without charge.
If you don’t choose the option to have a 2.75% interest rate, you’ll be paid 1%.
Bear in mind that most current accounts don’t offer interest at all.
Which other banks offer cashback?
There are other bank accounts that will offer you cashback on your bills.
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Santander Edge pays 1% cashback on selected household bills paid by direct debit, capped at £10 a month.
The benefit is that you can earn a bigger amount in cashback per year (up to £120), but you would have to spend more.
The account also has a £3 monthly fee and you’ll need to pay in £500 per month and have two active direct debits.
Alternatively, NatWest Reward gives you fixed cashback of £4 a month if you have two or more direct debits of at least £2.
You’ll also get an extra £1 for logging into the mobile app monthly.
The account does come with a fee of £2 a month.
Some banks also offer cashback when you spend in certain shops or restaurants.
For example, Monzo regularly offers cashback deals on brands like Adidas, Hilton, Sainsbury’s, Iceland and B&M.