Expert 'gets £600 back' using bank account for everyday spending

Millions of Brits could be missing out on hundreds of pounds a year from money they are already spending.

A Which? Money expert has revealed he has earned more than £600 in cashback simply by using the right bank account for everyday purchases. The alert comes as Chase prepares to double its cashback rate from 1% to 2% from July, potentially allowing customers to earn up to £240 a year. The move is the latest salvo in a growing battle between banks offering cashback on everything from supermarket shopping and fuel purchases to household bills.

Matthew Jenkin, senior writer at Which? Money, said he had pocketed more than £600 in cashback since opening his account in November 2022.

He said: "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."

According to Which?, Chase customers will be able to earn up to £20 a month, or £240 a year, once the changes take effect on July 1. Dining in restaurants and cafés, as well as takeaways, will also qualify for rewards.

Cashback current accounts reward customers with a percentage of what they spend, effectively paying them for purchases they would be making anyway.

However, Which? warned that consumers need to watch out for conditions including spending restrictions, monthly caps, minimum pay-in requirements and account fees.

Its latest analysis shows a number of banks are now competing for customers with cashback incentives worth up to hundreds of pounds a year. The consumer group found Chase currently tops the table, with annual rewards set to rise to £240 following the July changes.

Santander's Edge Up account offers up to £180 a year on household bills, while Santander Edge pays up to £120. Zopa's Biscuit account offers up to £80 and Nationwide's FlexDirect account up to £60.

Account Cashback offer - Maximum annual cashback

• Chase 1% rising to 2% from July - £240
• Santander Edge Up 1% on household bills - £180
• Santander Edge 1% on household bills - £120
• Zopa Biscuit 4% on household bills in first year - £80
• Nationwide FlexDirect 1% on purchases for one year - £60

* Source: Which?, May 2026.

The research also highlighted a recent push by banks to boost cashback offers. Chase announced it would double its cashback rate from July and expand the range of qualifying spending.

Meanwhile, Zopa has launched a 4% cashback offer on direct debits for new customers opening its Biscuit current account. Which? said the deal could be worth up to £80 a year but is only available until June 9.

Mr Jenkin said consumers should look beyond headline cashback rates when choosing an account. He said: "Big cashback offers can be tempting, but the best account for you will also depend on fees, restrictions and customer service."

For those looking to maximise returns, he suggested holding more than one cashback account where account rules allow. He said: "As long as you meet the criteria, there's nothing stopping you opening more than one cashback current account."

The Which? expert also urged consumers to save their cashback rather than immediately spend it. He said: "While you could just spend it, placing it in a savings account or tax-free Isa means the money will gradually grow over time."

He noted that some easy-access savings accounts are currently paying up to 5 per cent interest, while a number of regular saver accounts offer even higher rates for those prepared to save small amounts each month.

Which? said consumers can boost rewards further by making sure they meet minimum monthly funding requirements, using retailer cashback schemes offered by banks and combining cashback current accounts with specialist cashback websites and apps. More details here.