Co-op Bank to pay £4 a month to current accounts
What with Santander putting up monthly fees with their 123 account, the competition are trying to woo customers away from them. One of them is the Co-operative Bank, who are offering an account called 'Everyday Rewards', that is going to pay existing and new customers £4 per month.
How do you get this money? Well, you get the reward for doing bog-standard, everyday banking with them. You'll also need to pay in £800 per month, and stay in credit or within your agreed overdraft limit too. You'll also have to go for paperless statements, have four active monthly direct debits, and log-in to your online banking once a month.
It seems like a lot to remember, but chances are, most account holders will do these things while on autopilot.
On top of all this, those who have this account will also get 5p every time they use their debit card (which will max out at £1.50 per month). That's a potential of £66 per year, for nothing. Not bad.
If you prefer, you can donate your rewards to a number of charities - Amnesty International, Hospice UK, Oxfam, Refuge and the Woodland Trust.
There's going to be a lot of competition at the moment, as the banks look to lure people away from Santander, and seeing as it is easier than ever to switch, it is worth weighing up all the rewards that will be thrown around in the coming weeks.
If the Co-operative Bank account sounds like your bag, then check it out here.