Santander claims customers who open one of its accounts can earn up to £20 per month in cashback on their regular payments. The bank's Edge current account allows households to recoup some of their expenditure on bills, thereby saving on monthly outlays.

Account holders can earn 1% cashback on payments such as council tax, energy, water, and broadband, as well as an additional 1% on supermarket, fuel, and travel spending, capped at £20 per month.

For a £3 monthly fee, this account might still be beneficial if customers can recoup that amount in cashback each month .According to Martin Lewis' Money Saving Expert (MSE), households could potentially earn £100 per year, or even more, depending on the magnitude of their bills.

They explained: "Get 1% cashback on bills, eg: energy, broadband, council tax," reports Birmingham Live.

"The Santander Edge current account charges a £3/month fee but pays a max £20/month cashback across two categories. It will credit-score you, but you needn't switch to get it, so it makes a good (joint) bills account.

"Cashback via the bank account alone could net £80/year to £100/year if you've average bills (if yours are bigger, check the separate Edge Up account). You need to pay in £500/month and have 2+ direct debits."