As one of the big high street banks Royal Bank of Scotland (RBS) has plenty to offer its current account customers. As well as branches across the country and excellent customer reviews there are also current accounts paying you cashback and good deals for students and teenagers looking for their first accounts too.
RBS has a good range of current accounts and a particularly extensive offer when it comes to rewards.
Reward and incentive accounts
You can choose from three different RBS rewards accounts: Reward, Reward Silver and Reward Platinum. They all offer cashback and a monthly cash reward. Then, depending on how much you are willing to pay in fees, you can get extras including travel insurance and breakdown cover. Compare reward accounts on our dedicated page if you’d rather go for a fee-free account instead. Learn more about reward and incentive accounts
Everyday current account
If you aren’t looking for bells and whistles then RBS’s Everyday account is fee free and comes with a contactless debit card, Apple Pay, Google Pay and a mobile banking app. You can also apply for an arranged overdraft. Learn more about current accounts
Student accounts
RBS’s student account comes with perks including an interest-free overdraft. RBS also regularly offers sign up incentives on its student account such as a free four-year tastecard. Learn more about student accounts
When comparing student accounts don’t get distracted by the freebies on offer. For most students the important feature will be the interest-free overdraft. Royal Bank of Scotland offers a generous interest-free overdraft, compare that with other banks first. Then consider the perks of the account.”
Children’s accounts
RBS offers two different children’s accounts. The Rooster Money account is available for 3 to 17 year olds and includes a parent-managed pocket money app. You can set allowances and track your child’s spending and saving in the app. Then there is the Revolve account for 11 to 17 year olds. This comes with a contactless debit card and, once the child turns 13, Apple Pay and Google Pay. This account also pays your child interest on their pocket money. Learn more about children’s accounts
Business accounts
Whether you’re a start-up or a more established business, RBS offers a range of different accounts to suit different business needs. Choose from a start-up business account that offers no transaction fees for a set time, a straightforward bank account for businesses that have been trading for over a year, and a community account for not-for-profit organisations such as charities and clubs. Learn more about business accounts
Does RBS offer any promotions, discounts or refer-a-friend offers?
No, RBS doesn’t have any of these at the moment, but it does sometimes have switching deals. We have a page that shows other switching deals available, so when RBS does offer another one, you can read about it there.
Does RBS offer joint accounts?
Yes, you 2 people can open a joint account together with RBS. You can apply online or in branch.
Does RBS offer premium/packaged or premier accounts?
In our independent 2024 customer satisfaction survey, 91% of RBS’s users said they’d recommend the brand to a friend. Customers highlighted the bank’s seamless online banking and noted its helpful “human” customer service team. Here’s what some of those RBS customers had to say:
“I have banked with this brand for 20+ years and never had any issues. They take the time to explain new products and I don’t feel pushed into accepting them.”
“The app does everything you could possibly need it to. Even depositing cheques. Everything can be done in one place, including checking your credit score and viewing all of your accounts in one place. Great security too!”
On Trustpilot, RBS scores 1.4 out of 5 from 900 reviews. On the Apple App Store, it has a rating of 4.7 out of 5 from almost 178,000 reviews, while on the Google Play Store, it’s rated 4.7 out of 5, from around 95,000 reviews (November 2024).
Pros and cons of banking with RBS
Perks. Perks and rewards are kind of RBS’ specialty – available options include cashback on your bills, travel insurance, mobile phone insurance and car insurance (breakdown cover).
Multiple ways to bank. Whether you’d rather do it all online and never visit a branch in your life, or manage your finances in person or on the phone, RBS has got you covered.
Mobile banking app. RBS has a clean app that allows you to see all your accounts in one place, including the ones you have with other banks. The app also puts your spending into different categories, helping you to budget.
Global acceptance. If you bank with RBS you’ll get either a Visa or a Mastercard, so you really don’t have to worry about card acceptance, no matter where you are in the world.
Round the clock assistance. If you lose your card, or if it’s stolen, you can call RBS 24/7 to get assistance.
No interest paid on account balances. While RBS can offers some decent perks, unfortunately it doesn’t usually pay interest on most its current account balances. The exception is its Revolve account for teenagers.
Branch closures. RBS has announced it is closing branches across the country. If you need to be able to bank in-person check your nearby branch isn’t affected before opening a current account.
Opening an account with RBS
To open an account with RBS, you’ll have to provide the following information:
Your personal details and address history.
How much you expect to pay in each month.
Your salary details and any assets you have.
Your nationality/citizenship.
Proof of identity (passport, driving licence, EEA or Swiss national identity card).
Proof of address (utility bill, bank statement).
You can open an RBS account online or by visiting a branch.
Customer service information for RBS
Email support
Telephone support
In-app or live chat
Contact form
Branch support
Our verdict: Is Royal Bank of Scotland a good bank?
RBS doesn’t include interest with most of its current accounts, but it does offer more unique rewards, such as cashback on bills. Whether this makes sense for you will depend on how you use your account. If your current account has a relatively low balance day-to-day but multiple direct debits, you’ll use the mobile app and spend on the debit card then the rewards may be worth more to you than interest. But, if you regularly maintain a large balance then a current account that pays interest may be a better option.
Frequently asked questions
Yes! There isn’t a limit to the number of accounts you can open. Remember to check out competition and be wary of opening multiple accounts just to use features like overdrafts.
Currently, the only RBS current account paying interest is its Revolve account for 11 to 17 year olds.
You can find them on RBS’ website – pick your favourite current account and you’ll be able to download them before beginning the application process.
Banking scores
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
Finder scores, in blue, are based on our expert analysis. We also show reviews from users, where we've received more than 10, with a score in yellow. We gather more reviews from customers every year in Finder's customer satisfaction survey.
We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.
Valentina Cipriani was a writer at Finder UK. She wrote news, features and guides about banking and credit cards, helping people to improve their financial lives. She holds an MA in International Journalism. See full bio
Jason is a writer and editor. He worked as a senior subeditor for Finder for 5 years and in that time became familiar with a wide range of financial products and services. Before that, he worked for Australian Associated Press. He has a BA from Macquarie University in Australia. Jason loves to help other people find new ways to save money. See full bio
This new account comes with cashback on direct debits, interest on the balance in your account and a regular saver with one of the best rates in the market.
Paying too much interest on your overdraft? You might be able to move it to another account.
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