The offer has been highlighted by Martin Lewis’ Money Saving Expert
Santander says customers who sign up to one of its accounts can make up to £20 a month in cashback on their regular payments.
The bank’s Edge current account allows households to get some of their money spent on bills back, helping them to save on monthly spending.
Customers can get 1% cashback on payments like council tax, energy, water and broadband and another 1% on supermarket, fuel and travel spending, up to a maximum of £20 a month.
READ MORE: NatWest says customers can claim £150 bonus payments
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The account comes with a £3 monthly fee but could still be worthwhile as long as customers make that back in cashback every month.
Martin Lewis’ Money Saving Expert (MSE) said households could make £100 a year, and possibly more depending on how high their bills are.
They said: “Get 1% cashback on bills, eg: energy, broadband, council tax.
“The Santander Edge current account charges a £3/month fee but pays a max £20/month cashback across two categories.
“It will credit-score you, but you needn’t switch to get it, so it makes a good (joint) bills account.
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- 1% cashback (max £10/month) on bills paid via it: council tax, water, energy, broadband, phones and paid-for TV
- 1% cashback (max £10/month) on supermarket, fuel, train and bus spending
- It also pays 6% interest on up to £4,000 saved in its linked Edge Saver
- You can get the Edge credit card too, which pays 2% spending cashback in year one (1% after), up to a max £15/month. There’s a £3/month fee, so you’d need to spend £1,800+ on it in year one (£3,600+ after) to make it pay.
“Cashback via the bank account alone could net £80/year to £100/year if you’ve average bills (if yours are bigger, check the separate Edge Up account).
“You need to pay in £500/month and have 2+ direct debits.”