Kind folk of ERs may I ask if any of you have, or have experience of, current accounts that offer 'rewards'.
I was looking at one in particular with these conditions.
Pay a fee of £5 per month.
Pay in at least £800 per month and have at least two direct debits a month
In return they offer
Cash back on a range of household bills.
3% interest on amounts up to £20,000.
Using their online calculator they could be giving more than £600 a year for my current account. That is better than many savings accounts and ISA s.
What is the catch?