Cashback Debit Cards

A handful of debit cards pay cashback on everyday spending. Cashback amounts are usually small, typically around 1%, with the total amount capped each month. Unlike other cashback methods, there’s nothing to click and nothing to remember: you use the card and the cashback arrives on schedule.

This page covers some notable examples, with current rates, monthly caps, fees, and eligibility requirements. It isn’t exhaustive – new cards become available frequently, and terms change more often than this page is updated (although I try to keep things up to date). Always check with providers for current rates and terms.

Compare UK Cashback Debit Cards

Move the slider below to see how much cashback each card could earn. Estimates are based on stated rates and caps — actual cashback paid depends on caps, eligibility, and exclusions.

Cashback debit cards not covered by the tool

A few UK cashback products sit outside the comparison above because they’re not straightforward debit cards. I’ve named them here for reference.

Paid cards

Cashback bundled with a monthly subscription. Whether they’re worth it depends on how much you spend and whether you’d use the other perks.

• eToro Money Card — up to 4% back paid in stocks, requires an eToro Club subscription
• Curve — cashback on paid tiers (Curve Metal, Curve Black), routes through your existing cards
• Monzo Perks / Extra / Max — cashback on selected merchants via Monzo’s paid tiers
• Revolut — cashback on Revolut Plus / Premium / Metal (paid tiers)
• Yonder — up to 2% cashback paid as points (redeemable for experiences, not cash), requires a paid Yonder subscription

Bank offer programmes

Most major UK banks run their own cashback programmes inside their apps — Lloyds Everyday Offers, Halifax Cashback Extras, Santander Retailer Offers and similar. These are targeted offers on specific merchants rather than a blanket cashback rate. They usually require you to opt in to sharing your transaction data with the partner network so retailers can serve you offers. I’d read the terms before enabling if data-sharing matters to you.

How cashback debit cards work

Every card transaction generates a small percentage — the interchange fee — that flows from the merchant’s bank to the bank that issued the card. (Visa or Mastercard route the transaction between them and charge a separate small scheme fee, but they don’t receive the interchange.) Interchange is the main per-transaction revenue for the card’s issuer.

In principle, a cashback card is one where the issuer passes part of that interchange back to the cardholder. In practice, the numbers don’t line up in the UK. Consumer debit card interchange is capped by law at 0.2% — about 20p per £100 spent. Most cashback debit cards pay 1% or more — £1+ per £100 spent, five times what the issuer earns in interchange. So issuers aren’t just sharing interchange back with cardholders; they’re paying out more than they receive and subsidising the difference from elsewhere.

In my reading, that “elsewhere” is usually one of three things. The most common: the card is a “hook” or “loss-leader” to bring the cardholder onto a wider platform. A customer using a cashback current account could bring their whole banking relationship (deposits, mortgages, savings, investment fees). One attached to an investment platform brings trading revenue if users go on to invest. The second option is a monthly subscription fee that funds the cashback directly (some paid card tiers work this way). The third is a marketing budget treating cashback as customer acquisition cost — often visible as launch-period rates that later scale back or expire.

This is why cashback debit cards come with monthly caps (limits how much the issuer subsidises per person), have exclusions (some transactions don’t attract interchange at all — bank transfers, direct debits, cash withdrawals — while others the issuer explicitly carves out, like HMRC payments and gambling), and change rates over time.

Types of Cashback Debit Card

Bank Current Account Cards

Cashback is paid on everyday debit card spending from your main current account. Usually the most convenient option because the card doubles as your normal banking. Chase, Nationwide FlexDirect, and Santander Edge fit this bracket. Rates are typically lower than fintech cards, but caps are often higher and exclusions fewer.

Fintech / E-money Cards

Cards from fintech platforms rather than banks. Trading 212’s Stock Back debit card is the current UK example in this bracket. These aren’t full bank accounts — they’re e-money accounts (not FSCS-protected in the same way), usually topped up from your main bank. Rates tend to be higher (1-1.5%) but the caps are tighter and you need to transfer money in to spend.

Premium / Paid Cards

Cards that charge a monthly fee in exchange for higher cashback or perks. Rarely worth it unless you spend enough for the cashback to clearly exceed the fee after tax and any forgone interest on the balance.

What to Watch Out For

Exclusions. Most cards exclude cash withdrawals, transfers between your own accounts, gambling transactions, HMRC payments, mortgage payments, and sometimes utility direct debits. I’d check the list before assuming a purchase will qualify.

Minimum deposit or spend requirements. Some cards require you to pay in a certain amount each month or make a minimum number of transactions. Miss the threshold and you earn nothing that month.

FSCS protection differences. Bank current accounts are protected up to £85,000 under FSCS. Fintech e-money accounts are usually safeguarded (client money held in segregated accounts at a bank) but not FSCS-protected in the same way. I wouldn’t keep large balances sitting in e-money accounts.

Promotional rates. Chase’s 1% was originally a launch offer with an end date that’s been extended multiple times. I’d check whether the rate you’re seeing is the long-term rate or an intro offer.

Foreign transaction fees. Some cashback cards charge fees on overseas spending, others don’t. If you travel or shop with non-UK retailers, factor this in.

Cashback is usually tax-free. HMRC treats cashback as a discount on a purchase rather than income, so for personal spending it’s not taxable. Large volumes or business use can change this — get tax advice if you’re uncertain.

Stacking With Other Cashback

I think a cashback debit card is the foundation of a good stacking setup — it pays on everything, automatically, without needing you to remember anything. Layer on top:

• Supermarket gift card cashback — pay for the gift card with your debit card (1% back), then the gift card earns you 3-5% at the till. See the supermarket cashback hack for current rates.
• Online cashback sites — TopCashback and Quidco pay on top of whatever your debit card pays. See the best cashback sites and apps comparison.
• Receipt scanning apps — Shopmium, CheckoutSmart etc. pay on specific products regardless of how you paid. See the receipt scanning apps guide.
• Loyalty schemes — Clubcard, Nectar, Asda Rewards. Always on. Pay by debit card, scan your loyalty card, stack away.

Full walkthrough in the cashback stacking guide.

Common Questions

How can I compare current UK cashback debit cards?

See the comparison tool above for current rates, caps and eligibility across the cards this page covers.

Is cashback from a debit card taxable?

For personal spending, no — HMRC treats it as a discount, not income. If you’re running a business or earning cashback at scale, speak to a tax professional.

Can I have more than one cashback debit card?

Yes. Many people run two or three — one for everyday spending (e.g. Chase), one for a higher-rate fintech option (e.g. Trading 212 for 1.5% up to the monthly cap), and maybe a specialist card for a specific use case. Nothing stops you spreading spend across multiple cards.

Do cashback debit cards affect my credit score?

Bank current account applications involve a credit check, which leaves a soft or hard footprint depending on the provider. E-money cards (e.g. Trading 212) usually don’t credit check — they’re not lending you money. Check the provider’s application process before applying if this matters to you.

What types of purchases don’t earn cashback?

Typical exclusions: cash withdrawals, transfers between your own accounts, gambling, HMRC payments, mortgage payments, some utilities, and sometimes gift card purchases. Each card’s terms differ — check before assuming a specific purchase qualifies.

Can I use a cashback debit card abroad?

Yes, but watch for foreign transaction fees. Chase charges no foreign fees and pays cashback on overseas spend; some other cards charge fees that wipe out the cashback. Check the specific card’s overseas terms before relying on it for travel.

How does this compare to a cashback credit card?

Cashback credit cards (Amex Everyday, Barclaycard Rewards, Halifax Cashback) often pay higher rates but require you to pay off the balance monthly to avoid interest. Debit card cashback is simpler — you’re spending your own money, no balance to manage, no interest risk. Good for people who don’t want a credit card or whose credit isn’t strong enough to qualify for the top cashback cards.

When does the cashback arrive?

Most cards pay monthly — cashback earned in one month is credited at the start of the next. A few pay within days or even instantly. Always in your account, no waiting 90 days like traditional cashback sites.