Images

February 1, 2025   |   Articles

How to save at the cinema every day of the week

Written by

Get cheap movie tickets so you don’t pay over the odds

If I can, I always try to see films at the cinema. The big screen, surround sound and darkened room make all the difference (though I’m not so fond of people chatting or checking their phones). Still, this is an expensive hobby so I do everything I can to get cheap movie tickets.

And I do pretty well at it too. It’s very rare for me to pay more than £5 or £6 – even in central London where prices are usually well over a tenner. In fact, out of the 17 films I saw at the cinema last year I’ve managed to get the bulk of my tickets for free, and the rest for just a quid or two.

These aren’t the only ways to get cheap movie tickets (we’ve listed all the tricks and deals in our huge cinema savings deals page) but these tricks show whatever day you want to see a movie, there’s a way to pay less – and even nothing at all.

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

Image of different movie titles and the be clever with your cash logo

Midweek cinema deals

The cheapest days to go are always Monday to Thursday. Most cinemas have lower prices on these days, and cheaper still before 5pm. So it’s worth looking to see what your local cinema offers. However, there are ways to save even more so your ticket should cost less than £5.

Tuesday & Wednesday – 2 for 1 tickets with Meerkat Movies

This is a fantastic saving at most cinemas. You need to buy an insurance policy via Compare the Market (there’s a trick so this costs just £1), and you’ll then get access to Meerkat Movies for 12 months.

Meerkat Movies gives a code so you can buy one ticket and get one free. The promotion is valid on Tuesday and Wednesday, though you can only take advantage of the offer once a week.

Find out how to get Meerkat Movies for £1

Everyman: 2-4-1 on Wednesdays via Times+

If you subscribe to the Times you’ll get access to Times+ offers, including a rare two-for-one ticket to Everyman cinemas. You can claim one code each week and it can only be used on Wednesdays.

There’s often a free or cheap trial available for the Times so you can try it out or just get it for a one-off visit.

Weekend only cinema deals

Cinemas charge a fair bit more from Friday to Sunday, and there are less deals that will save you money at the weekend. Personally I’d save any tickets that can be used any day of the week for the weekend (more of these in the next section).

Friday to Sunday – £3 ticket for Cineworld or Picturehouse via Three

The Three+ loyalty app has a cinema deal and at £3 a ticket it’s a decent saving for Cineworld and Picturehouse.

You can show the code at the box office to get your ticket, but if you book online there’s a 75p fee on top.

And, also like O2, you can get the Three+ app even if you’re with a different network thanks to a trick where you top up a Three Pay-as-you-go SIM every 90 days. If you’re going on a weekly basis that could be worth it, even once a month could save you cash – depending on the full price of a ticket at your local.

Find out more about Three+ in our review

All week cinema deals

These are all good deals, but I’d priotitise them for more expensive weekend showings when you get the best value for the discount.

Six free tickets for Vue or Odeon via Lloyds

If you open up a Lloyds Club current account you’ll be given six free cinema tickets every year. You can choose between Vue or Odeon, though you can’t mix and match.

There is a fee of £3 a month for this account, but it’s not charged if you pay in £2,000 a month. This might seem like a lot, but it doesn’t need to stay in your account. You can transfer the money in when you get paid, then straight back out again.

Check out our Club Lloyds review

12 to 36 free Vue tickets via Halifax

A similar offer runs with Halifax’s Reward current account, which offers 12 free Vue tickets a year. You’ll get one each month and they’ll be valid for a year.

You do have to jump through a few more hoops to get the free tickets. Once you have the account you must pay in £1,500 each month to avoid a £3 fee and keep the balance above zero. Then you need to spend £500 each month on your debit card.

There’s also a hack to triple the free tickets as you can open three Halifax Reward accounts, giving you 36 tickets.

If you don’t have a Vue nearby you could instead receive a £5 reward, year of Disney+ or three digital magazines each month.

Read more in our Halifax Reward account review

Free tickets via Sky or Vitality

If you have Sky Cinema you can get two free Vue tickets each month – though it might not be the cheapest option for your TV, so it’s not a reason to stick around.

While anyone with Vitality, perhaps health insurance via work, can claim a free Odeon or Vue ticket each month if they hit enough activity points.

Up to 40% off with other memberships

There are a number of schemes and memberships that give discounts at most big cinema chains and many independent ones too. Though the schemes look similar, prices might be different so it can be worth looking at one for two.

Often these are available via your employer’s “work perks” scheme, but Santander customers can also get access for free, and Lidl often gives free membership too via it’s Lidl Plus app.

Other ways to take advantage are paid for, though look for free trials. Tastecard is another good one that also gives restaurant discounts (here are the best deals), while Kids Pass gives additional savings for children’s attractions. 

However, these don’t always work out cheaper, so check the prices at your local cinema before buying tickets via these schemes, but you can get cheap trials of both to give them a go.

Two Vue tickets for £9 via O2

This mobile SIM loyalty programme isn’t as good as previous offers (O2 used to give a free Odeon ticket away each week), but it’s still a good offer if you go to Vue cinemas.

Every Monday at 10am you can get a code which will you can redeem for two Vue tickets for £9, or four for £18, meaning you’ll pay just £4.50 each. You can book with it until the following Sunday. It’s also valid at all Vue locations, including the West End.

You’ll get access to O2 Priority if your phone is with O2 or broadband is via Virgin Media, though this hack means anyone can buy a PAYG SIM and top up by £10 every six months (at the most) to get access.

More on how to get O2 Priority

Two Odeon tickets for £9-£10 via Amazon, Octopus or Vodafone

There’s a similar offer for Vodafone users, this time for Odeon tickets. You can get two for £8, though with a £1 booking fee. Or Amazon Prime members or Octopus customers can get two for £10.

One Vue a month & more via Monzo for £7

£7 a month for a Vue ticket via a Monzo Perks current account isn’t going to be the best deal out there. But for the fee you also get an annual railcard and a weekly Greggs freebie. Take advantage of these and that ticket could actually cost you just a few quid.

Get a membership

If you go on a weekly basis then memberships can work out cheaper. We’ve written here about the different schemes which run at Odeon, Cineworld, Curzon and Everyman.

Other cheap movie ticket deals

There are always other special offers running that could get you cheap or free tickets. These include discounted gift cards (which you can use alongside other offers as payment) and flash sales.

We’ve listed special offers and other tricks to save at all the major and independent chains in our ultimate cinema savings page. Have a look to see what the latest offers are.

The best cinema deals

Our pick of the best offers in our dedicated cinema deals page

Read next

January 31, 2025   |   Articles

Credit scores and reports explained

Written by
“Credit score” is a phrase you might occasionally think about. Maybe worry about. But do you understand it?

I wasn’t really bothered about my credit score or credit report until a decade or so ago when I had to apply for a mortgage. Only then did I realise just how important it can be.

Fortunately, it was all ok and I got my mortgage. In the years since I’ve kept track – and that’s something you should do to even if you’re not going to buy a house.

Here’s my Be Clever Basics guide.

Credit score vs credit report

Before we talk about your credit score, we need to talk about how it is different to your credit report. These terms are often used interchangeably, but they aren’t the same thing.

What is a credit score?

A credit score, or credit rating as it is sometimes called, is based on this information in your credit report. It’s basically a number that reflects how good or bad your credit report is.

What is a credit report?

A credit report, or credit file, is basically a record of your financial history. Any account that’s required a credit check will be on there as well as any money you owe. It also shows how long you’ve had the account and your payment history, including missed or late payments.

Other elements in your report include details of any bankruptcy, county court judgments and other debt solutions.

You’ll also see your address history and records of any financial connections you have, such as joint accounts and joint mortgages.

Why lenders check your credit report

Your credit report is one of the leading factors that influence lenders when they’re deciding whether to offer you a product or loan.

Using the details on the report they’ll work out whether you’re a good or bad customer for them. That’s not just about how likely it is you’ll be able to afford the borrowing, but also how likely it is they’ll make money from you.

The data in the file can also affect how much you’ll be lent, the length of a deal (e.g. 0% balance transfer cards) or the interest rate offered.

Your credit report is also frequently used to verify your identity.

When lenders search your credit report

Your report isn’t just searched when you apply for “serious” financial products like mortgages, loans and credit cards. Everyday consumer contracts are subject to searches too. 

That’s because you’re essentially asking for credit when you open a new bank account, get a contract mobile phone and switch your utilities.

Even paying your home or car insurance by Direct Debit requires a credit check (it’s usually cheaper to pay these in a lump sum if you can).

Hard checks vs soft checks

Any application for credit will be subject to something called a “hard” search. This will then appear on your report for other lenders to see, whether you’re successful or not. They’ll stay there for 12 months.

However, if your report is looked at by comparison sites or to assess eligibility, this is actually a “soft” check, and though you can see it on your file, lenders can’t.

This distinction can be really important, especially to reduce the chances you’ll get rejected for a new credit card.

Do credit scores matter?

Well, yes and no. Though the score reflects your report, lenders will add in extra information they have on you to decide whether to lend to you.

You’ll have put information on the application form and if you’re an existing customer they might have their own file on you. Plus, an investigation by Money Saving Expert a few years ago found that lenders are using Open Banking data too.

So this means the score won’t reflect everything the lender is taking to account. That can lead to rejection even if you have an excellent score or acceptance with an average score.

But they aren’t pointless. Credit scores are still great indicators of how healthy your credit report is.

The higher your credit score, the more likely it is you’ll get accepted for credit products, or get a better deal such as lower interest payments.

And a low score will indicate a bad credit report, which could mean you get rejected or get offered less money than you need.

So, checking your score will help you decide whether you need to do anything to improve your report. And when those actions make a difference you’ll see that reflected in an increased score, telling you that you’re on the right path.

Who decides your credit score?

You actually have three reports and therefore three different credit scores. These are calculated by three different companies – Experian, Equifax and TransUnion.

These are the credit reference agencies that lenders go to for your financial information.

They all hold slightly different data on you in their credit reports, and then work your score out slightly differently. They even have completely different scales. So you can’t really compare one with another.

It’s worth noting that when you apply for credit, you don’t know which of the three credit reference companies will be used. This basically means all three credit reports are as important as each other.

Checking your credit score

You can check all three scores and reports for free via these websites:

  • Equifax via ClearScore
  • Transunion via Intuit Credit Karma
  • Experian via Experian’s CreditExpert. With this one you can get a free 30 day trial – but cancel before the end of the trial to avoid the £14.99 a month fee. You can then get Experian’s free statutory credit report. 

I’ve written in more detail about these different credit score sites and how to check them in this article.

Your credit score is most important when you’re going to apply for a product where your report will be checked. If you know this is coming up, then you should check for any errors or potential problems before applying.

It’s also worth looking at least once a year, if not more often, just to make sure there’s nothing fraudulent going on.

Read next

January 30, 2025   |   Deals

Marks & Spencer deals and offers

Written by

From Sparks offers to freebies – we’ll list them here

At one point it seemed like every couple of months there was a 20% off at M&S voucher! Though less frequent nowadays, if you can hold off, it’s worth waiting until the deals come along. I’ll list these and other great offers on this page.

Remember with many of these deals you can stack them, meaning you can combine the offers to get even bigger discounts.

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

20% off shopping at Marks and Spencer

The 20% off codes were almost every month pre-2020, but now they’re pretty rare. When they do appear you usually need to have a Sparks membership – or know someone who does.

You can either activate the offer to your card from your online account or the Sparks app. You might also get an email or some vouchers in the post, including spare codes to give to friends and family members, though I’ve not had these in quite a while.

The offer also tends to be split over two weekends, with some customers getting the deal in week one of the promotion and others a week later.

It’s a lot rarer for generic codes for everyone. When these offers come up there’s often a digital code (which I’ll share here), and occasionally a voucher you can print to use in stores.

Latest 20% off weekend

The latest 20% weekend runs 30 January until Wednesday 5 February 2025. You’ll see it in your Sparks account, or you might have received an email.

We don’t know if all Sparks customers will get it this weekend or not. Offers seem to be ad hoc in the Sparks app, and not universal to all customers.

If not, it’s worth checking with family and friends to see if they’ve got a code you can use.

Shop at Marks & Spencers

M&S Sparks offers

Members of the free M&S Sparks loyalty scheme get offers sent to their account frequently and can be for food, clothing, home or beauty. There’s a lot of recurring offers, so if you know you need something, it may be worth holding out for that offer to become live again before you purchase. You can sign up to Sparks here.

How often you get sent Sparks offers does vary, but there does tend to be a new selection every three to four weeks or so. Sparks offers range from money off to free products, so it’s always worth checking your M&S app for your latest since they include personalised offers.

Read our review of the M&S Sparks loyalty scheme

Sparks Baby Club: free cake every week

If you’re expecting or recently had a baby, you can sign up for the M&S baby club which gets you free cake, a pastry or a fruit pot when you buy a hot drink on Tuesdays between 9.30am and 11.30am.

To get it, you need to be a Sparks member, then from the app you select “the parent hood” and just have to give a few details like your due date. Once you’re signed up, you’ll have an offer in your Sparks app that can be scanned every Tuesday for a year.

The baby club also gets you 10% off babygrows for a year and other monthly rewards such as discount on Mamas and Papas products.

Join the M&S baby club

Sparks welcome offer

New Sparks members should get a welcome offer when they first sign up. When I joined in 2020 I got a free tote bag, while in spring 2021 the advertised offer was a £5 discount on a £40 spend on food and drink, and 10% off fashion and home.

Sign up for Sparks

Sparks birthday gift

The more you scan your Sparks card when you shop at M&S, the higher the chance you’ll get a free birthday treat. There’s no guarantee – I didn’t get anything this year.

Sales and promotions

Beauty: £315 beauty advent calendar for £50(ended)

You can get a £315 M&S beauty advent calendar for £50 when you spend £35 on full-price clothing, homeware or beauty.

The Beauty Advent Calendar 2024 includes a selection of 25 products, including some full-size products across bath and body, skincare, haircare and make-up.

Now, just because M&S say it’s worth £315 it doesn’t mean it actually is. You can see the entire contents here, so use that to work out whether it’s not just worth paying £50 for.

And of course, try to buy something you actually need to want for the initial £35 spend. Sale and clearance items are excluded from this qualifying spend.

Save on the M&S Beauty Advent Calendar

Extra savings

Alongside sales and regular promotions, it’s possible to save more with these ongoing vouchers and tricks.

Free £5 off £35 voucher

You can get a £5 voucher to spend on M&S clothes when you take old clothes to Oxfam, or if you drop the clothes off in-store instead you’ll get a Sparks reward. More details on the Shwop scheme.

Read more about how to donate your clothes in exchange for a voucher

Earn cashback, including a bonus of up to £20

You can shop at the M&S website via cashback sites such as Quidco and TopCashback, earning you money back on each purchase. If you’ve not used either of these sites before you can also get up to £20 extra as a first-time cashback bonus.

Check out the latest welcome offers for Quidco and TopCashback

Tricks to spend less on M&S food

Thought it’s one of the pricier supermarkets I tend to shop at M&S most weeks as it’s the one right by my office. To help make it more affordable we use a number of tricks. You can read about how to save money at M&S Food.

January 2, 2025   |   ArticlesBest Buy

Best Current Accounts 2025

Written by

These banks accounts are my top picks for the year

I’ve got 25 different personal current accounts right now. Yes, that’s far too many for most people, but trying them all out really helps me recommend to you the good from the bad.

You could just switch your existing account to get a better deal, or you could open a handful to take advantage of the different offers. Personally I’d look to have at least two accounts just in case of tech failures stopping you from getting access to your cash.

But there are other reasons to look around, from improved banking experiences to rewards to cashback to interest on savings.

To help you decide I’ve shared below my top picks of the best current accounts (you can also check out a full list of the latest offers).

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

You can watch my video round up of the top offers, or keep reading

Best dummy current account for switching

If you’re looking to take advantage of switching deals, it’s often worth setting up a dummy account you’ll use purely for this purpose.

Winner: Chase

A couple of reasons why Chase wins here. First, there’s no hard credit check when you first apply. Second, once you have one account, you can set up nine more in the app – and it’s these ones you’ll want to use to switch away.

Just be sure not to switch away your only Chase account as that’ll close your whole account down and you won’t be able to reopen it.

Best bank account app

Banking apps are improving all the time and the best have features such as freezing your card if it’s lost and features to help you save.

Winner: Starling

Recent improvements to the Monzo and Revolut apps made this a close call this year. Chase is decent too. But Starling still edges ahead. All of these digital only banks have features to help you track spending and manage your card, but I think not only does Starling do it best, it does a little more on top.

You can use it on both app and desktop, you can pay in cheques with your phone, you can deposit cash at Post Offices and more.

Runner up: Monzo and Chase

It’s worth taking a look at these other digital banks as often it’s personal preference which makes one stand out over the other. You might prefer them to Starling.

Runner up: Natwest

If you’re after a high street bank then the app I like the best is from Natwest (or RBS which is basically the same). You can do most things you need to do, and it’s clearly set out. A nice extra is you can use it to take cash out at Natwest or Tesco ATMs if you don’t have your card.

Featured savings deal
More Details
Trading 212 Cash ISA
AER (variable)
4.92%
Minimum
£1
New Trading 212 customers get an increase of 0.82% AER to 4.92% for 12 months
More details ▼
Additional Info

Existing Trading 212 customers get a rate of 4.1%

FSCS Protected?: Yes

Allows transfers in?: Yes

Flexible ISA?: Yes

▲

Best bank account for spending

I’d normally suggest using a specialist credit card for your spending so you’re earning a little cashback with every purchase and also one that won’t charge you for spending abroad – and there’s a current account that does both of these.

Winner: Chase Bank

You can make 1% back on spending for the first 12 months you have with Chase Bank, which is as good as it gets right now (unless you opt for the stoozing method of spending and saving).

It is capped at £15 a month, so that’s on your first £1,500 a month. Some spending categories are excluded (like adding money to savings or credit cards, and buying cars or gambling).

I tend to transfer money across rather than use it as my main bank. That’s no bad thing as it helps you control your spending!

There’s also 5% interest on roundup payments and it’s fee free to use abroad. Here’s my full Chase Bank UK review.

Runner up: Monzo

Though many banks offer additional cashback offers linked to specific retailers, Monzo has the easiest one to view and manage. Here’s our review of the feature. You can also spend overseas fee-free, though are limited on cash withdrawals.

Our podcast

Listen to Cash Chats, our award-winning podcast, presented by Editor-in-chief Andy Webb and Deputy Editor Amelia Murray.

Episodes every Tuesday.

Listen now
Andy and Amelia with the text "Cash Chats Personal finance podcast"

Best bank account for your bills

Winner: Santander Edge

Only Santander will give you money back each month on direct debits for your bills – but sadly the better paying Santander 123 and 123 Lite accounts are no longer open to new customers (if you’ve already got either, then keep using it).

Instead you can choose between the Edge and Edge Up accounts, and it’s the former that will probably earn you more cashback each year.

Both give 1% back on household bills such as Council Tax, energy and broadband, though the Edge costs £3 a month vs the Edge Up’s £5 monthly fee. That extra £24 a year for the Edge Up really cuts into your returns.

Though the earnings aren’t as much as they once were, this cashback via the Edge is better than nothing, and you’ll also get access to the 7% paying Edge Saver.

Runner up: Chase

You can also get cashback on some bills via Chase Bank’s debit card (not direct debits), and also use this to earn money back on other regular subscriptions such as TV and music streaming.

Runner up: Monzo/Starling

If you’re more worried about budgeting than cashback then both Starling and Monzo will let you segregate money into separate pots and then assign one to pay bills direct from it.

Best bank accounts with rewards

Some accounts will pay you each month, either in cash to your account or with a freebie. You often have to pay a monthly fee and meet other criteria.

Winner: Halifax Reward

Though it takes a little more effort than the runner up, I’ve gone for Halifax as you’ll get a better return.

You can get either £5 a month, 12 cinema tickets or 24 movie rentals as long as you jump through a few hoops. The main one to watch is spending at least £500 on a debit card each month, though there’s a hack to get around this. Plus you can have three of these accounts, so there’s potentially £180 a year to make.

Runner up: Club Lloyds

You’ll get less each month from Club Lloyds – either 6 cinema tickets or a year of Disney+ with Ads – but once you’ve set up standing orders you can just leave the account alone. Here’s my full Club Lloyds review.

The best bank switch bonuses

Check out our list of all the bank switch offers you can get when opening a new current account

the best bank switch offers on a blue background

Best packaged bank account

From inclusive insurance and breakdown cover to extras, sometimes it’s worth paying a fee each month for a packaged account.

Winner: Virgin Money Club M

For £12.50 a month you’ll get worldwide family travel insurance and phone cover, as well as UK and Euuropean breakdown cover for the account holders (so it’s worth opening it as a joint account). That’s decent value if you need two or three of those policies. Here’s our full Virgin Money Club M review.

Runner up: Monzo Perks

If you’re going to buy a railcard, grab a Greggs and go to the cinema each month, this £7 a month account from Monzo is worth a look. You’ll also get access to enhanced budgeting features. Here’s our Monzo Perks review.

Best bank account for savings

Current accounts often give you access to higher rates than elsewhere, though with limits. Here’s my look at the best savings accounts.

Winner: First Direct

For ongoing savings the highest paying account is a regular saver that’s only open to First Direct current account holders. It pays 7% AER – and that’s fixed for 12 months. You can only add up to £300 a month into this regular saver. Read more about other regular savers here.

Winner: Santander Edge

The highest interest rate on larger balances at the moment is from Santander. As long as you have the Edge current account you can open the Edge Saver. This offers 6% on up to £4,000 – though that previously mentioned £3 a month fee needs to be factored in if it’s not covered by cashback. The rate also drops by 1.5% after a year.

Runner up: Kroo

I don’t think having your money separate to your main current account is a problem (in fact it has benefits). But if you want to earn on money that is in there (so not in a separate account), you can get an okay rate of 3.65% at Kroo (though it’ll fall when the base rate drops).

The best savings accounts

Check out our list of the highest paying regular, easy-access, fixed and ethical savings accounts

Best bank account with an overdraft

If you use an overdraft you’re probably paying around 40% in interest – far more than it’d cost to borrow elsewhere. So they’re best avoided. But if you are overdrawn then it makes sense to reduce that cost ASAP.

Winner: First Direct

You can currently get a £250 0% buffer from First Direct. That’s not amazing, but it can be useful if you occasionally go a little below zero.

Runner up: Monzo/Starling

If you really need to use an overdraft then you might be able to get as low as 15% of 19% with these digital banks.

Best ethical bank account

Winner: Triodos

This account tops the charts on Ethical Consumer’s list of ethical current accounts and it’s hard to beat. However it does come with a £3 a month fee and the app is limited. Here’s my full review.

Runner Up: Nationwide, Starling or Co-op

These banks also score well. As it’s a building society, Nationwide is committed to putting the bulk of its lending towards mortgages so it can’t invest heavily in non-ethical practices. It also has positive policies in place to avoid this.

Starling has the edge over its challenger bank rival Monzo, while Co-op is the top-ranked from the other high-street banks.

Best “I only want one” bank

If you don’t want to have multiple accounts, and really want everything in one place, then these banks combine multiple extras.

Winner: Chase

The 1% cashback on spending makes it the account that’ll be most profitable over a year (up to £180). Alongside this you can get 5% interest on roundups and fee-free spending abroad. The app too is good, if not the best.

Runner up: Santander Edge

We all pay bills, so we may as well get cashback on these, and there’s also 1% back on supermarket and transport spending. On top there’s access to the 6% paying Edge Saver account. The app is average though.

Runner up: Club Lloyds

I think Club Lloyds is also worth a shot. The app is pretty good, and the six cinema tickets or year of Disney+ with Ads is potentially worth £60 a year and there’s a decent (though not best buy) monthly saver at 6.25%.

Read next: other bank reviews

January 1, 2025   |   Articles

The best reward current accounts

Written by

How to earn rewards & freebies from your bank

There are a number of reasons to change your bank, with switching bonuses, cashback and interest often a big draw. However, the easiest ones are often ‘reward’ accounts as they usually require very little effort to make something extra every month – and you don’t even need to switch to get them.

From free cinema tickets to a fiver paid to your account each month, they’re certainly better than the accounts we’re all used to which give nothing in return.

But they aren’t without some drawbacks, including fees and requirements that you set up direct debits or deposit money each month.

So whether you’re just after one account or are happy to game the system for a handful, here’s how they work and my picks of the ones to go for.

** Update – the Halifax Reward Extra perks will end for new customers in June 2025, and for all in September. Here’s what we know so far**

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

Rather watch than read? Here’s my video review of reward current accounts

What is a reward bank account?

Here’s how reward accounts work:

You can earn monthly cash or freebies

Some accounts offer cash, some offer a freebies and others give you the choice between cash and freebies.

Reward accounts come with a fee

These benefits aren’t actually free! All the accounts charge a monthly fee. Some you can avoid by paying in a certain amount of money each month. Others you’ll need to take into account when working out how much you’ll make.

You might have to ‘claim’ the reward

Though some will pay the reward into your account, others (NatWest or RBS) put the money in a separate rewards wallet which you have to manually withdraw. It’s a bit pointless really.

And if you’re claiming a non-cash reward then you will have to select it, though you shouldn’t have to do anything else each month.

There will be additional requirements

Some reward account require you to either set up direct debits or pay in a minimum amount each month.

Here are the typical ones. You’re unlikely to be required to do all of them, probably just one or two.

Set up direct debits

Often banks require one or two direct debits, sometimes with a minimum value. Though ‘active’ usually means the money has to have been paid in the last year, the banks that use this only pay you the months a direct debit is paid.

It’s not such a huge issue as if you pay bills you’ve all got direct debits you could use – though they might be better suited to a cashback current account.

If that’s the case direct debits can easily be set up for other things too, such as credit card bills, memberships, subscriptions and charity donations. Here’s our guide to where to find additional and cheap direct debits.

Pay money in each month

Reward accounts often require a minimum deposit each month. This is to encourage you to pay your salary there. You can do that easily if you want – just tell your HR department of the new details.

But you don’t have to. It’s easy to transfer money in from a different current account via a standing order. You can do this as one lump sum or break it into smaller amounts over the month if that’s better for you.

And it doesn’t have to stay there either. You can transfer it back out straight away.

Spend on your debit card

A couple of accounts require you to spend on the debit card too. You can do this as part of your regular spending but it does mean you’ll miss out on cashback from a different card. Once again there are ways to get around this, as explained in this Halifax Reward hack article.

Use your internet banking or the app

You might also need to log in to your banking app or online account once a month to qualify for the reward. It’s worth setting a reminder in your calendar to do this if it’s not an account you’re using regularly.

My top reward bank accounts

Here’s my opinion on the different reward accounts.

Club Lloyds account

  • What you get: six free cinema tickets (Vue or Odeon), a year of Disney+ with Ads, a magazine subscription OR a dining membership
  • Exclusive savings: 6.25% regular saver
  • Monthly fee: £3, though refunded if you pay in £2,000 a month
  • What it’s really worth each year: between £40 (magazine subscription) to £60 (equivalent value of six £10 cinema tickets)
  • Requirements: none
  • Maximum number of accounts: one individual and one joint

The Club Lloyd account is my top pick as it’s the easiest one to get. There’s no reason why you can’t just open this up (ideally via a switching bonus), set up a standing order to pay the £2,000 in (and out) each month, and keep claiming your reward.

You can have one personal and one joint account and claim the rewards on both, so that’s potentially three between a couple.

Here’s my full review of the account, where I break down which freebie “Lifestyle Benefit” I feel gives the best value.

Read customer reviews at Smart Money People

The best bank switch bonuses

Check out our list of all the bank switch offers you can get when opening a new current account

the best bank switch offers on a blue background

Halifax Reward account

  • What you get: £5 a month, one Vue ticket a month, OR 3 digital magazines a month subscription
  • Monthly fee: £3, though refunded if you pay in £1,500 a month
  • What it’s really worth each year: £60 (if you go for the cash option) to up to £120 (if a cinema ticket costs £10)
  • Requirements: £500 spend on your debit card or £5,000 held in the account
  • Maximum number of accounts: three per person

You get more from the Halifax Reward account so it was a close call between the two accounts for my top spot – you just need to jump through an extra hoop to get this one.

To get your choice of reward (more on how the account works and what you can get in my review here) you need to spend £500 a month on your debit card or save £5,000 every month.

To start I wasn’t a fan of this as it meant missing out on interest elsewhere or on cashback from my cashback debit and credit cards.

But I’ve since found a workaround where you use your Halifax debit card for other payments, such as paying off your credit card or adding money into an NS&I or Chip saving account.

So with this in mind it should be an easy reward to claim and well worth having it alongside the Club Lloyds account.

In fact, you can have three individual accounts and earn three lots of rewards, meaning you can earn £180 a year in total. I’ve explained all – and how to get around the requirements – in this Halifax Rewards hack article.

Read customer reviews at Smart Money People

Monzo Perks account

  • What you get: an annual railcard, one free Vue ticket a month, a free Greggs treat a week
  • Monthly fee: £7 (£84 a year)
  • What it’s really worth each year:
  • Requirements: £500 spend on your debit card or £5,000 held in the account
  • Maximum number of accounts: three per person

If you need a railcard (worth £35), go to a Vue each month (let’s say 12 times £6, so £72) and pick up a £2 Greggs treat twice a month (£52 a year), you’d be well in profit versus the £7 monthly fee. Of course, that’s only good if you actually need those things!

We’ve written up a full review of the Monzo Perks account so you can decide if it’s for you or not.

Other reward accounts

For completion, here are the other main reward current accounts. It might be worth looking at these if you already bank with them, or if there’s a switching offer on top.

NatWest or RBS Reward account

  • What you get: £5 a month reward
  • Exclusive savings: 6.17% Digital Regular Saver (available to all current account holders)
  • Monthly fee: £2
  • What it’s really worth each after the fee: £36
  • Requirements: two direct debits of at least £2 each and log into your account once a month, deposit £1,250 a month
  • Maximum number of accounts: one personal and one joint from NatWest and one personal and one joint from RBS

This account used to be a favourite of mine, but since its revamp a few years ago it’s not really worth it unless you have direct debits to spare or open it up when a switching offer is running.

The Rewards account is one where you have to log in to a separate ‘MyRewards’ account to claim your bonus. You can send it as cash to your account, donate it to charity, or top it up as an e-gift card payment.

Here’s more on how the account works. It’s the same for the Reward account offered by RBS.

Read customer reviews at Smart Money People

Barclays Blue Rewards

  • What you get: free Apple TV+
  • Exclusive savings: 4.87% Rainy Day Saver on up to £5,000
  • Monthly fee: £5 (£60 a year)
  • What it’s really worth each year after the fee: £57.88
  • Requirements: pay in £800 each month
  • Maximum number of accounts: one

This one is no longer worth it in my opinion, though if you are committed to paying for Apple TV+ every month (which costs £8.99) then this will save you close to £58 over the year. However I think most people are better off just paying full price for Apple one or two months a year and binging the content.

If you decide you want to do that, then you’ll also get access to a 4.87% paying savings account on balances worth up to £5,000.

Here’s my Blue Rewards review.

Read customer reviews at Smart Money People

The best savings accounts

Check out our list of the highest paying regular, easy-access, fixed and ethical savings accounts

TSB Spend and Save Account

  • What you get: £5 cashback for the first six months
  • Exclusive savings: 6 Monthly Saver (available to all current account holders)
  • Monthly fee: £0
  • What you’ll really get each year: £30
  • Requirements: make 20 payments a month
  • Maximum number of accounts: at least one personal and one joint

TSB Spend and Save Plus Account

  • What you get: £5 cashback
  • Monthly fee: £3
  • What you’ll really get each year after the fee: £24
  • Requirements: make 20 payments a month
  • Maximum number of accounts: at least one personal and one joint

I’m not a fan of these accounts either as you’ve got to make 20 debit card payments each month to get a fiver. And the reward only lasts for the first six months. Once for completists only. You can however get an extra £30 cashback from Quidco for switching.

Like the free TSB Spend and Save account you’ll earn £5 a month, but you won’t be limited to the first six months. After the £3 monthly fee you’ll make £24 a year. However, you still have to make 3-20 card payments which I think is a stretch when there are better paying cashback cards out there.

Read customer reviews at Smart Money People

Should you get a reward current account?

Andy’s Analysis

If you’re comfortable with multiple current accounts then I’d definitely look at getting the Lloyds and Halifax accounts.

After this I’d only bother with the NatWest and RBS accounts if I already had one, or get one via a switching bonus.

Even I can’t be bothered with the TSB rewards due to the faff, while the fee for Barclays just doesn’t add up for most.

Having multiple reward accounts

As I’ve said many times, there’s no reason why you only have to have one current account – and that means you can have multiple reward accounts too.

You’ll usually only be allowed one personal reward account with each bank, though it does vary, and most let you can have an extra one as a joint account too. That means you could potentially have three accounts in a household, and three times the rewards.

But the more you have, the more you have to do to be eligible. Some are easy to overcome, others might make it less worthwhile.

Recirculating your inbound payments

Most people should be able to cover the minimum deposit payments for one reward current account. And if you have more than one then it’s easy to repeat for the others by moving the same money between each account.

I actually do this via a standing order where the money automatically goes from bank to bank to hit the eligibility threshold, with it eventually coming full circle back to my original account.

Covering the fees

This is a bit of faff, but manageable. Since some of the accounts charge a fee but don’t pay the reward directly into your account, you’ll have to make sure there’s enough in there each month to cover this charge. You’ll also need to remember to transfer the reward over each month too.

Running out of direct debits

If you have multiple reward accounts then you might quickly run out of direct debits. It used to be you could set up a couple of £1 ones for charities, but the banks have cottoned on to this and made it pretty pointless.

For example, NatWest give you £2 back for each direct debit, but the DD needs to be at least £2. So if you’re setting up a new payment just to get the reward, you won’t actually be any better off.

Of course you could see it as free cash for charity – which is great – but it does require a bit of effort.

Alternatives to reward accounts

Of course, there could be a better bank out there which should be your priority. Things like overdraft fees or savings account rates might be more important to you. Digital banks like Starling and Monzo have great features to help you budget, or perhaps you want to make sure you have access to a branch.

And of course it might work out more profitable to go for switching bonuses or cashback on your bills via Santander or on spending via Chase.

Read next

January 1, 2025   |   Articles

Refer-a-friend: get paid when your friends use your financial referral

Written by

Some banks and other financial companies offer you a cash payout for referring a friend

Word of mouth is a pretty good way of finding great financial companies, and some companies will even give you a freebie for referring a friend. From bank accounts to investment platforms, here are some of the financial companies that pay for your referral.

Latest bank switch offers (A-Z)

As of 13/06/25

Click the links for further details and analysis

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

investengine refer a friend on a yellow background

Bank refer-a-friend schemes

Very simply, the banks are asking you to recommend them to your friends and family. In return they’ll give you a sweetener that is paid into your account. In the past, both TSB and Nationwide have offered £100 for referring friends, however sadly neither bank offers it anymore. 

To be able to get the referral money, you need to have an account with the bank in order to play matchmaker, but once you do it’s a nice way to earn a little extra. And often your friends will get something in return too. Here’s what you need to know for each scheme.

Monzo refer-a-friend offer

Monzo offers a referral offer that changes from time to time. At the moment, this is £10 for you and a friend. Your friend needs to accept your invite and make their first card payment within 30 days.

Revolut refer-a-friend offer

Revolut routinely offers referral offers that change fairly often. These can range between getting £10 per referred friend to £60, so it’s worth trying to time it when there’s the best offer available.

Monese refer-a-friend bonus

Monese offers £10 via its invite and earn program. You’ll get £5 when you use the card for the first time and the rest after you’ve spent £500 with the card.

Bank switch offers 

If you don’t have any friends to refer you, then you can try a bank switch offer. For these, you’ll need to close your old account completely. However, as part of the Current Account Switch Guarantee, all your Direct Debits and standing orders will be transferred, and any payments in (such as your salary) and out will be forwarded. We have a separate guide with all of the current best bank switch offers if you’re up for one of these, but here are the top ones.

£100 switch and up to £120 cashback and £120 hotel credit
TSB up to £340 switch offer
Switch bonus
£100
Additional bonus
£90 + £30 + £120 reward
Offer ends
30 June
More Details Full review and analysisRead customer reviews
More details ▼
Additional Info

Extra cashback: £30 to £40 available via Quidco or TopCashback (rates can change)

Extra bonus: Triple cashback for six months (worth £90)

Extra reward: £120 Expedia voucher or days out pass

Switch bonus paid: Between 2 and 16 August 2025

Existing customers?: Yes

Requirements

Switch using the Current Account Switch Service and close old account with 21 days of the offer ending

Use the debit card 5 times by 19 July 2025

Log in to online or app banking by 19 July 2025

For additional bonus, make 20 debit card transactions per calendar month for six months

For cashback, make two debit payments in three of the four months from opening and pay in £500 a month in three of the four months from opening

Exclusions

You can't have already have received a TSB switching bonus since 1 October 2022

Offer limited to once per person and account

▲
Santander £180 switch offer
Switch bonus
£180
Offer ends
Unknown
More Details Full review and analysisRead customer reviews
More details ▼
Additional Info

Bonus paid: Around 90 days after requesting the switch

Existing customers: Only if opened an account since 2 January 2025

Requirements

Open a new or hold an existing Everyday Edge, Edge Up or Private current account

Set up two Direct Debits before or after the switch from a selected list of household bills

Switch using the Current Account Switch Service and close your old account within 60 days of starting the switch

The old account must be from a different bank

Deposit £1,500

Exclusions

Can't have held any Santander current account on 1 January 2025

Can't have received a switching bonus from Santander already

Offer limited to once per person

▲
Extra £35 via cashback site
First Direct £175 switch offer
Switch bonus
£175
Additional cashback
£35
Offer ends
Unknown
More Details Full review and analysisRead customer reviews
Apply via cashback site Quidco or TopCashback for a £35 bonus
More details ▼
Additional Info

Bonus paid: By the 20th of the following month after meeting the criteria

Existing customers?: No

Additional cashback: Must apply via a cashback site (rates vary)

Requirements

Move two direct debits or standing orders from your old bank

Switch using the Current Account Switch Service and close old account

Pay in £1,000 within 30 ays of opening the account (and leave it there for 24 hours)

Use your debit card five times in the first 45 days

Log into mobile banking or the banking app in the first 45 days

Exclusions

You can't have or have ever had a First Direct account

You can't have opened an HSBC account since 1 January 2018

Offer limited to once per person

▲
Plus £32 rewards
NatWest Up to £125 switch offer
Switch bonus
£125
Additional bonus
£50
Offer ends
Unknown
More Details Full review and analysisRead customer reviews
More details ▼
Additional Info

Bonus paid: Within 30 days of meeting criteria

Existing customers?: Yes

Eligible accounts: Reward or Premier Reward (for new customers, longer list for existing customers)

Requirements

Pay in £1,250 within 60 days of switching

Log on to online or app banking within 60 days of switching

Switch using the Current Account Switch Service and close your old account

Open a Digital Regular Saver (for additional £50)

Exclusions

Offer limited to once per person

Cannot have ever received a switching bonus from RBS, Ulster or Natwest

▲

Credit card referral schemes

While there are quite a number of credit card referral schemes out there, you need to think carefully before recommending a credit card to someone as you’d want to be confident that they can manage the payments. 

American Express refer-a-friend offer

If you refer a friend for the  American Express Cashback Credit Card and they successfully apply then you’ll get £30 (up to £150 per calendar year) and they get £25, which makes it fee-free. 

They’ll also get the normal introductory offer, currently 5% cashback for three months up to £125. Other Amex cards have similar schemes though the rate might vary. It’s also possible for your friend to get a similar bonus via cashback sites but you’ll miss out. We have a full guide on the best American Express cards. 

Vanquis credit card refer-a-friend offer

Vanquis also offers £25 to you and your friend if you recommend someone to their credit card, but this isn’t a cashback credit card so there’s probably a better reward out there for your friend – even if it means you don’t get your referral bonus.

Savings account refer-a-friend offers

Plum refer a friend offer

Savings app Plum sometimes has referral schemes that let you refer a friend for a savings account. Your referred friend usually needs to deposit a certain amount to get the payout, but this’ll depend on the T&Cs at the time. 

Investing refer-a-friend offers

Investment accounts also tend to have refer-a-friend offers. If you don’t already have an account with some of them, you can sign up with our link to get free shares or cashback. Here are some of the offers.

Here at Be Clever With Your Cash, we’re not regulated to give you financial advice. We aim to give you the facts about a provider or investment but it’s up to you to decide if it’s suitable for you. If you’re looking for more personalised guidance, find a financial adviser who can give you specific advice. Remember that your capital is at risk when investing — don’t invest more than you are prepared to lose. 

Trading 212 refer-a-friend offer

Trading 212 routinely offers a refer-a-fried promotion that can get both you and your friend free fractional shares when they sign up using your link. You can check if this is running by going into the Menu – if there’s an option called ‘Get free shares’, then it’s currently running. You then choose ‘invite friends’.

Hit ‘share link’ to share your referral link, which you can then send to your friends. They need to sign up and deposit £1 within 10 days.  Within three working days of your friend signing up and depositing at least £1. 

If you’re not already a Trading 212 customer, you can get a free fractional share using our referral. 

InvestEngine refer-a-friend offer

InvestEngine’s refer-a-friend offer can get you and your friend a bonus between £20 & £100 when your friend invests at least £100.

To get it, you need to send your friend your referral link. They then need to sign up, choose investments and fund the account with at least £100. You’ll both then get a notification to generate your welcome bonus. 

It’ll land in your accounts within five business days. 

You can refer up to 25 friends but you have to keep your bonus invested for at least 12 months before you can withdraw it.

If you don’t have InvestEngine yet, you can still get a welcome bonus via our link.

Expired refer-a-friend deals

Nationwide referral bonus

This was one of the best refer-a-fiend offers when it ran, but it’s sadly ended. Both you and your friend could get £100 when you referred them. However, higher paying bank switch offers regularly run.

TSB refer a friend bonus

This was another refer-a-friend offer that ended on 28 February 2020. You and your friend could get £100 each as long as they completed a full switch that included two active direct debits and paid £500 into the account. 

First Direct referral bonus

First Direct used to offer a  referral scheme, but this was put on hold and never returned. When it ran, you could get between £50 and £100.

Santander refer a friend bonus

The Santander referral offer ended in June 2019. It got you and your friend a £50 Amazon voucher for a full switch. 

Read next

December 28, 2024   |   Articles

Should you regift an unwanted present?

Written by

The do’s and don’ts of passing on unwanted or duplicate gifts.

There’s a good chance at some point each year you’ll be given a gift you don’t want or need. Unwanted presents are frustrating and disappointing but also a bit awkward. So what do you do with it?

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

What to do with an unwanted present

The worst thing you can do with an unwanted gift is just throw it away. Not only are you adding to landfill, but the money spent by the gift giver has been wasted. Not much better is just putting it out of sight in a cupboard or drawer. It’ll probably just sit there gathering dust for a few years until you have a clear-out, and then go to the tip too.

You could try to make use of whatever you’ve been given, even if you don’t like it. But why wear a jumper, use the vase or eat some chocolates that aren’t to your taste simply because you feel you should? It’s not your fault the gift wasn’t right, so you shouldn’t feel guilty about it. Saying that, you might find you later learn to love it.

You could try to sell the present, though the admin and fees associated might be enough to put you off. It’s worth having a look online just to see what similar items have gone for, but it’s something likely only worth it for higher-value items.

Perhaps the best option, if you’re brave enough, is to be honest about the present. Tell the gift-giver why it’s not right and ask if they would be able to give you a gift receipt so you could exchange it, or if they would do it for you. This will be a lot easier if the gift is something you already have than if it’s just not to your taste. Still, it’s worth a go.

But if you can’t see that working, your next best bet is to pass the present on, also known as regifting. This can be controversial. Imagine how you’d feel if a gift you put thought into wasn’t just unwanted, but given to someone else? Not great. But it’s better to know someone, somewhere is making use of it rather than it getting chucked away.

And if you can avoid the awkwardness, then it’s a winning strategy. You’re giving someone a gift they hopefully will like, you’re helping the environment by not chucking it away and you’re saving yourself some cash by not having to buy something new.

So here a few simple rules and tips to help you navigate the minefield of regifting.

Do: only regift to someone you think will appreciate the present

Regifting doesn’t mean you can just palm off an unwanted present to any old friend or family member. If they won’t appreciate it, you’re just passing the buck, and it could still end up in the bin.

Instead have a think about who might like it, and there’s a good chance you’ll have a few contenders. Most unwanted gifts aren’t bad gifts. They might simply not be to your taste, or perhaps be a duplicate of something you already have.

Don’t: regift everything

It’s worth taking into account any politics within your family or friendship groups. It might be better to keep hold of something and just bring it out from time to time to avoid any rifts. Yes, that could mean keeping hold of that awful painting your gran got you. But that might be better than the potential fallout if she found out.

Also some gifts are just plain bad. The kind you can’t understand why someone would manufacture it, let alone buy it. If you’ve got one of these and there’s no one you can think of who would like it then don’t regift it.

Do: have a regifting box

It’s worth keeping any unwanted gifts together in one box or cupboard. This way if you need to buy a present you can check what you’ve got and see if there’s anything suitable.

Don’t: forget who bought you the unwanted gift

There’s a danger with regifting of whoever you gave the gift to finding out, or perhaps even getting it back themselves. You hear stories of presents being passed around the same group year after year. Neither of these scenarios are desirable.

To avoid this, make a clear note of who gave you the gift and when. Then when you regift it, make sure it’s given to someone in a different circle.

The best deals

Find our picks of the best offers in our dedicated deals library

Do: remove any tags or personalisation

Take a good look at your unwanted present. Have they inscribed a message in a book? Is there a tag stuck to the bottom of the box that you missed? If you’re sure there are no tell-tell signs the item is regifted then it’s fine to re-gift.

Don’t: regift anything that’s been used

Any unwanted present you want to pass on has to be in as good a condition as if you’d just bought it yourself. Packaging is key here so ensure any tags are intact and the box unopened. It’s important to check use-by dates on any food or drink gifts too.

Do: remember charity shops

Finally, as we’ve mentioned a few times above, you can also give an unwanted present to a charity shop. But don’t just dump a bag outside the shop. Take it in and see what they will take and then you can deal with anything they reject.

Read next

December 16, 2024   |   Articles

Gift cards: should you ever use or buy them?

Written by

Gift cards are a popular present option, but they have some major downsides.

From birthday and Christmas through to leaving and wedding gifts, at some point, we’ve all received and purchased gift cards. It makes sense – they’re an easy choice when you don’t know what to buy someone. The issue is that every time you buy a gift card you risk losing the cash on it.

The majority of the time you’ll be fine, but there are a few risks of gift cards, many of which can be reduced or avoided. Still, to be safe you need to know the good and bad of gift cards.

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

When gift cards are bad

I’ll lead with the dangers of gift cards – the reasons you could find your gift card is wasted cash.

Gift cards prevent you shopping around

One of the key tenets of Being Clever With Your Cash is getting the best deal. The easiest way to do this is very simple – shop around for the best price.

Yet if you have a gift card to use at Shop A, but the best price for what you want is at Shop B, you’ve no choice but to buy it from Shop A.

Ok, so it’s not the end of the world if we’re talking about a few quid, but you won’t want to miss out on larger savings.

And what if the shop you have a gift card for doesn’t have anything you want? You’ll end up using it to buy something you don’t need and probably won’t use. It’s a waste of money.

Refunds go back to a gift card

Another big risk of buying with a gift card becomes apparent if you need to return your purchase.

The money will go back to a gift card for the same shop. This is less of an issue if you shop frequently at the retailer, but what if it’s a one-off purchase?

It’s particularly bad if it’s a large purchase leaving hundreds of quid on a gift card rather than in your bank account.

This is why I never purchase discounted gift cards for anything I’m not certain about.

You also need to be careful here that you don’t chuck out your gift cards once you’ve used them. While most retailers will issue a new gift card, some will require the funds to go back to the original card.

Be aware that online purchases could also be refunded to credit that can only be used online. John Lewis is one worth highlighting here.

Say you’ve got a paper or plastic gift card you can use at both John Lewis & Waitrose shops and websites. Use it on the John Lewis website and any refunds are in credit just to use online only at John Lewis – but not Waitrose.

They often have hidden expiration dates

Most gift cards will have an expiration date. If you don’t use them before this date you lose the cash. That’s fine with paper vouchers, and most sent by email, where you can see this date in black and white.

But you need to be particularly careful with plastic gift cards. These can be loaded with different amounts at purchase, which means the details printed on them are often generic.

This makes it hard to see when the card expires, or how much is left on them. This means that a huge number will expire unused.

There are also different rules for different cards. Sometimes they’ll be valid for a set period, perhaps one or two years. Others will be valid for a certain time since they were last used. But it’s not always clear which is which.

Some, such as the One4All card will start charging you a monthly fee after a certain time (with One4All it’s 90p per month after 18 months).

The best way to prevent them from expiring (other than using them straight away) is to make a note of when you bought/received the card and its value. Then each time you use it, make a note of the date and new value, or keep your receipts with it, they typically have details of what’s left on the card.

It can be hard to spend the full amount

Often you’ll find that if you don’t use the gift card in one go you’ll be left with a few quid, or even pennies, left over. They’re not enough to buy something outright, so you keep hold of the card until you next go to that retailer.

And then you forget. And that money sits there until the card expires. More wasted money.

There can be limits on using multiple cards

If you’re asking multiple people to give you cards to go towards a purchase, check if there’s a limit to how many cards you can use in a single transaction.

Marks & Spencer and Curry’s, for example, will only allow 10 to be used at once.

There’s no protection with a gift card

Spending with a credit or debit card can give you some advantages over gift cards. Section 75 of the Consumer Credit Act protects credit card purchases over £100, while the Chargeback scheme for credit and debit cards is a route if you’ve problems with purchases under £100. 

If you pay with gift cards, or cash for that matter, you lose this protection.

And much like cash, if you lose your gift card there’s no way of getting it back. So try not to carry too many gift cards around with you.

They can be worthless if the shop goes bust

We’ve seen a succession of high street staples shut their doors over the last few years, and when this happens the administrators don’t have to honour any gift cards. 

A few years ago Arcadia only allowed gift cards to be used for half the total purchase, with the rest covered by another form of payment – forcing people to spend extra money so they didn’t lose the value of the cards.

Often shops closing down just stop accepting outstanding cards. Jessops, HMV and Peacocks all made gift cards and vouchers worthless overnight when they entered administration.

It’s also unlikely that buying gift cards on a credit card and using Section 75 would help you get your money back in these situations as gift card balances are usually far less than £100.

If, despite this, you still want to give a card, it would be wise to avoid any retailer which appears to be struggling.

When gift cards are good

That’s one long list of negatives when it comes to gift cards… but there are a handful of times when they can be worth the risk.

When you get an extra discount

You don’t have to buy them as gifts – you can buy them for yourself for your own shopping. And that can be a good thing when you’re able to buy discounted gift cards.


It could mean you pay less for your everyday shopping, including at places where it’s hard to find offers. For instance, though small you could get 2% back at Amazon or 4% at the supermarket – better than the rate you’ll get from a cashback credit or debit card.

And since the gift cards are like cash, you can stack them with other promotions and savings, such as in tandem with Meerkat Movies at the cinema, or with BOGOF offers.

The top places to look for these are:

For example, I often get an extra 6% off John Lewis gift vouchers via my Scottish Friendly ISA perks. It comes as an email but I print it out and I’m able to use it both online and in-person at the department store and in Waitrose.

Supermarkets often run promotions on selected gift cards, such as Spotify, Pizza Express, Cineworld and Footlocker. If we spot decent deals we’ll share them on our gift card deals page.

When you spend them straight away

The main way to avoid the bulk of risks outlined above is to spend your gift card as soon as you get it! That way they can’t expire, be lost or lose their value of the shop goes bust.

When you can use them on lots of things

If you’re set on buying a gift card for someone then you could look at one you can use at multiple retailers.

Though there’s always the risk that the companies selling these could go out of business themselves, you’ve got a choice where you shop. The main ones are One4All and Love2Shop.

Our podcast

Listen to Cash Chats, our award-winning podcast, presented by Editor-in-chief Andy Webb and Deputy Editor Amelia Murray.

Episodes every Tuesday.

Listen now
Andy and Amelia with the text "Cash Chats Personal finance podcast"

Alternatives to gift cards

Really you’re better off giving cash, sending a cheque or transferring money to a bank account. Yes these can feel lazy and seem impersonal. But really, is that very different from a gift card?

I know people worry that the money will just disappear from a bank account on everyday spending than buy something special. That certainly is a risk, but you can steer someone to use the gifted money in a certain way.

Perhaps you can say “use this for a nice meal out”. Or to “put it towards a new winter coat”. Hopefully if you suggest this you’ll get a nice text or email sharing when and where it is spent.

And don’t be put off sending a cheque (if you’re still got a chequebook). There are a number of banks now that let you pay in a cheque via the app.

Read next

December 13, 2024   |   Articles

What are inflation and deflation?

Written by
CPI, RPI and core inflation explained

Prices are changing all the time, usually upwards, and the rate these changes are measured is generally called inflation. However there are a few different options here, so we’ve broken down what they all mean, and why they matter.

Some articles on the site contain affiliate links, which provide a small commission to help fund our work. However, they won’t affect the price you pay or our editorial independence. Read more here.

What is inflation?

Inflation is a measurement that helps us track the price increase of goods and services over time. 

It compares the cost of things today with how much they cost a year ago. And the average increase in prices is what we call the inflation rate. 

Let’s take a loaf of bread as an example. If it costs £1 to buy a loaf today and next year it costs £1.10, the annual inflation for that loaf of bread is 10%. 

And falling inflation doesn’t mean prices will go down. If a rate moves from 5% to 4% month on month prices are still increasing, they’re just doing so at a slightly slower rate.

What is deflation?

Deflation works the opposite way and tracks the rate that prices decrease for goods and services over time. 

So looking at that loaf of bread again. If it costs £1 to buy a loaf today but that falls to 90p next year, then the deflation rate would be -10%.

What’s the latest inflation rate?

Inflation is measured over a 12 month period, with the latest figures announced in the middle of each month. You can find out current rates in our UK Inflation: what is the current rate? article.

How is UK inflation measured?

The Office for National Statistics (ONS) is in charge of measuring inflation in the UK and publishes figures each month to show how prices have changed. 

There are three common measures of inflation; Consumer Prices Index (CPI), Consumer Prices Index with Housing (CPIH) and the Retail Price Index (RPI). 

This can get a little confusing at first with all of the different figures, but the breakdown below shows how each one works and how relevant it is to you. 

CPI inflation

The Consumer Price Index (CPI) is the UK’s official measure of inflation and the rate you’re likely to see make headlines. 

For CPI, the ONS tracks around 180,000 prices of 700 hundred everyday items in an imaginary shopping basket (called the basket of goods) to work out the inflation rate. 

These everyday items and services fall into one of the following categories: 

  • Food & non-alcoholic beverages
  • Alcohol & tobacco
  • Clothing & footwear
  • Housing & household services
  • Furniture & household goods
  • Health
  • Transport
  • Communication
  • Recreation & culture
  • Education
  • Restaurants & hotels
  • Miscellaneous goods & services

The basket of goods gets reviewed each year to make sure that it gives an accurate picture of how price rises relate to our spending habits and patterns.

This means that products and services might get added to the basket each month, while others are taken out.  

What is core inflation?

Another measurement for inflation you may have come across is “core inflation.” Core inflation tracks the same goods and services as CPI but doesn’t include food, energy, alcohol and tobacco. 

These are taken out as they’re generally seen as the most volatile, so core inflation should give us a better understanding of how prices are changing outside of the everyday essentials.

What’s in the basket of goods?

Inflation in the UK is measured by looking at the price changes for an imaginary shopping basket, known as the “basket of goods.”

The basket includes lots of products and services that we use and tends to change to reflect our spending habits to make sure that the inflation rate is relevant.

The contents are refreshed each year, and in March 2024, 16 were added to the basket including air fryers, vinyl music and gluten free bread. Items that have been taken out of the basket include hand gel, rotisserie chicken and bakeware.

You can see how prices have changed for individual items in this ONS calculator.

CPIH Inflation

CPIH is a measure of UK inflation that takes into account housing costs, as well as everyday goods and services. 

It uses the same basket of goods as CPI but also includes prices for things like the cost of owning, renting or maintaining your home. It also takes into account expenses like council tax.  

CPIH is the newest measure of inflation and was introduced in 2013 to plug some of the gaps left by CPI (mainly the lack of tracking of housing costs.) 

RPI inflation

RPI used to be the main measure of inflation in the UK until it was replaced by CPI in 2011. 

It tracks the same basket of goods currently used for CPI but also includes things like estate agent fees, buildings insurance, TV licence and mortgage interest payments (which aren’t included anymore!) And, it tends to be higher than the CPI and CPIH measure of inflation. 

Although RPI isn’t the main inflation figure anymore, it’s still used to set the price of things like interest on student loan repayments and rail fare increases we get each year – though there is the flexibility from the government to pick a lower rate if RPI is significantly high.

RPI also plays a big role in the level of retirement income people get from final salary pensions and annuities. 

Do we really need RPI?

So you might be wondering why we still use RPI if it’s technically been replaced. Well, there’s an ongoing debate about its purpose and relevance. 

On one hand, final salary pension schemes and annuities may see less of an income boost if RPI was scrapped altogether. 

However, the government’s use of RPI compared to CPI, in particular, has also come under fire. 

Usually, the government links its own spending – which includes things like the state pension, statutory sick pay and benefits – to the CPI rate of inflation, which is lower. 

However, it uses RPI (which is higher) when it comes to the costs we pay such as train tickets, car tax and student loan interest to name a few. 

At this stage, it remains to be seen what will happen with RPI and whether it is replaced completely by one of the other inflation measures. 

Our podcast

Listen to Cash Chats, our award-winning podcast, presented by Editor-in-chief Andy Webb and Deputy Editor Amelia Murray.

Episodes every Tuesday.

Listen now
Andy and Amelia with the text "Cash Chats Personal finance podcast"

How does inflation affect me?

Inflation shows how much the cost of living is rising and gives you an idea of your spending power. So, the higher the rate of inflation, the more expensive everyday expenses tend to be. 

With the current cost of living crisis, we’ve all seen how sharply prices have risen over recent years. From eye-watering grocery bills to the cost of heating and powering our homes, prices have risen across the board. 

High inflation has also caused significant increases to the interest base rate by the BoE. That’s because the BoE raises interest rates in an attempt to bring down inflation to its 2% target. And changes to interest rates can impact both borrowing (especially mortgage) and savings.

Inflation also increases the risk of your money losing value in real terms. One area is wages. If they don’t increase in line with inflation you’ll need to use a higher proportion of your income to buy the same goods and services.

Similarly, your savings could lose value as well because, if your money is earning less interest than the rate of inflation – you won’t be able to buy as much with it.

Read next