We regularly write about the benefits of using cashback credit cards wisely. But not everyone likes using a credit card to pay for their spending, and they have very valid reasons.
Indeed, recent figures from the UK Cards Association revealed that people were more likely to use a debit card than a credit card.
If you prefer to manage your money with a debit card, you can still earn some extra cash from moving to the right current account.
Here are some of the top current account offers available right now. Of course, pair them with a cashback credit card and you can earn even more!
Clydesdale and Yorkshire Banks
Clydesdale and Yorkshire Banks are offering to pay £150 cashback to those that complete a full switch to one of their current accounts.
The offer applies to the Readycash, Current Account Plus, Current Account Direct, Current Account Control and Signature Current Account. To qualify switchers need to credit £1,000 (in a single payment) to their new account within 31 days of completing the transfer.
The Current Account Direct is a good one to go for as it also pays 2% interest on in-credit balances up to £3,000. Interest is paid as long as you credit £1,000 a month to the account. It also offers a competitive overdraft which charges 9.9% EAR.
You'll need to act soon though as this is a limited time offer. To benefit a full switch must be initiated by 28th February 2015.
First Direct offers new customers a £100 joining bonus if they open a 1st Account.
To qualify for the account fee free you'll need to pay in £1,000 a month. Alternatively, you'll need to have another First Direct product – such as a savings account or insurance.
Fail to keep up the minimum monthly deposit and you'll be hit with a £10 monthly fee – so make sure you pay in the minimum £1,000 each month, or the £10 charges will soon wipe out the opening bonus.
The good news is the 1st Account has won several awards for customer service, including the Lovemoney Award, and in the unlikely event that you don't like the bank and decide to leave after a year it will pay you another £100.
The Co-operative Bank is offering £100 cashback to those that complete a full switch to one of its current account. On top of that it will donate £25 to a charity of your choice.
To qualify, customers need to complete a switch to either the Standard Current Account, Current Account Plus or smile Current Account and credit £800 within 31 days.
The Current Account Plus is a good one to go for as you get a £200 overdraft and preferential offers on loans and Cash ISAs as well as access to an exclusive low-rate credit card.
Halifax is also offering £100 to those that switch to its current accounts.
The offer applies to the Current Account, Reward Current Account and Ultimate Reward Current Account.
The Reward Current Account is a particularly good deal to go for. It pays £5 a month, providing you credit the account with £750 each month, pay out at least two direct debits per month and manage to stay in credit.
You'll also be able to benefit from a Cashback Extras, which allows you to earn money when you shop online at certain retailers.
Marks & Spencer Bank
M&S Bank doesn't offer cold, hard cash to switchers like the other banks, but instead offers an M&S gift card .
Those going for the M&S Current Account will get a £100 M&S voucher. The account comes with a £500 overdraft where the first £100 is interest free, preferential rates on selected M&S Bank products and the ability to earn M&S Loyalty points when you spend.
The M&S Premium Current Account offers a £150 M&S gift card when opened. The account costs £10 a month (or £17.50 a month with worldwide multi-trip family travel insurance) and offers £212-worth of extra treats and vouchers throughout the year, the ability to earn loyalty points, exclusive access to preferential rates on M&S Bank products and a £500 overdraft where the first £100 is interest free.
The Santander 123 Current Account offers cashback on your household bills. You'll get 1% on water, Council Tax and Santander mortgage repayments (up to a maximum of £1,000 a month); 2% on gas and electricity bills; and 3% on mobile, home phone, broadband and paid TV contracts.
You can also earn up to 3% on your in-credit balance. The account pays 1% on balances from £1,000 to £1,999, 2% on balances from £2,000 to £2,999, and 3% on balances from £3,000 to £20,000.
You'll also be able to earn up to 15% cashback when you shop in-store and online at participating retailers through a new scheme called Retailer Offers.
To qualify, you must fund the account with at least £500 a month and set up at least two direct debits (although you'll want to set up all your eligible bills if you want to earn cashback on them). You'll also be charged a monthly fee of £2, but you'll probably earn enough cashback once you get going to more than cover this.
NatWest and RBS
NatWest and Royal Bank of Scotland have launched Cashback Plus, a scheme that lets you earn cashback when you shop with your debit card at certain retailers.
You earn a minimum of 1% back, which can be turned into cash or converted into vouchers worth even more.
Cashback Plus is available across almost the full suite of accounts from both banks, bar under-18, corporate and business accounts.
If you're after a free account, then the Select Account is your best bet, while if you're happy to pay £10 or more a month for extras like Taste Card membership and European multi-trip travel insurance, then you might like to take a look at the Select Silver or Select Platinum accounts.
If you want to earn interest
If you do have a bit of money left aside each month, you might want to take a look at two accounts which are paying market-leading levels of in-credit interest.
The Nationwide FlexDirect pays 5% interest before tax on credit balances of up to £2,500 for the first year you have the account. You need to pay in £1,000 a month to qualify.
The TSB Classic Plus Account also pays a gross rate of 5%, but on balances up to £2,000. The good thing about this account is that the rate is ongoing and you only need to deposit £500 a month to qualify for the interest.
These rates are miles better than the top easy access savings accounts right now.
Elsewhere Tesco Bank offers to pay 3% on balances up to £3,000, the Bank of Scotland Classic Current Account with Vantage pays 3% on balances between £3,000 and £5,000 and Lloyds Bank will pay 4% on balances between £4,000 and £5,000.
Compare top bank accounts