Reward has consistently been shown to enhance motor performance however its beneficial effects appear to be largely unspecific. While reward has been shown to invigorate performance, it also enhances learning and/or retention. Therefore, a mechanistic account of the effects of reward on motor behaviour is lacking. Here we tested the hypothesis that these distinct reward-based improvements are driven by dissociable reward types: explicit reward (i.e. money) and performance feedback (i.e. points). Experiment 1 showed that explicit reward instantaneously improved movement times (MT) using a novel sequential reaching task. In contrast, performance-based feedback led to learning-related improvements. Importantly, pairing both maximised MT performance gains and accelerated movement fusion. Fusion describes an optimisation process during which neighbouring sequential movements blend together to form singular actions. Results from experiment 2 served as a replication and showed that fusion led to enhanced performance speed whilst also improving movement efficiency through increased smoothness. Finally, experiment 3 showed that these improvements in performance persist for 24 hours even without reward availability. This highlights the dissociable impact of explicit reward and performance feedback, with their combination maximising performance gains and leading to stable improvements in the speed and efficiency of sequential actions.