iFAST Global Bank Launches Multi-Currency Current Account With High Interest and Cashback in the UK

iFAST Global Bank has launched a new Multi-Currency Current Account in the UK that pays interest on everyday balances while allowing customers to spend across GBP, EUR, and USD. The product combines unrestricted interest earnings with debit card cashback, removing the need to manage separate current and savings accounts.

The account offers 3.50% AER (variable) on GBP, 1.50% AER (variable) on EUR, and 2.80% AER (variable) on USD balances. There is no cap on the interest that can be earned. Customers can also access 2% cashback on up to £2,000 of monthly spending via a Visa debit card. The offer is available for a limited period and is subject to standard terms and conditions.

Unlike traditional banking services that pay interest only on savings accounts, iFAST Global Bank’s solution integrates saving and spending. Customers earn interest without moving funds and retain full access to their money. The product is supported by a digital onboarding process and remote customer service via internet-based chat and calls.

“Traditional banks have long imposed a major limitation”

Inayat Kashif, Acting CEO, Executive Director, and Chief Technology Officer of iFAST Global Bank, said, “Traditional banks have long imposed a major limitation — offering interest only on savings accounts while providing little to no interest on current accounts. This not only restricts financial growth but also makes money management cumbersome. Our Multi-Currency Current Account transforms the landscape by seamlessly combining high interest with complete flexibility for spending, saving, and transfers. This empowers customers to maximise their money effortlessly while enjoying a seamless and rewarding banking experience.”

The account includes a numberless Visa debit card, with no printed card number, CVV, or expiry date. All card details are stored in the app, and the card is accepted in over 200 countries. According to the bank, this improves security and reduces the risk of fraud.

Customers can also use the account to make international transfers and hold balances across more than one currency without needing additional accounts or conversions. Payments are executed using competitive exchange rates and settled through local clearing systems where applicable.

Simon Lee, General Manager of the Digital Personal Banking division at iFAST Global Bank, commented, “We are delivering on our commitment to simplifying banking by ensuring your money never stays idle — continuously growing with higher interest while remaining instantly accessible for spending. This high-interest current account removes traditional barriers, embodying our vision of banking without boundaries, enabling customers to manage their finances smarter and simpler.”

All balances held in GBP are protected under the UK’s Financial Services Compensation Scheme up to £85,000.