Unfortunately, this deal is no longer valid
£50 cash back for NatWest Reward Customers (If you open an investment account by 5pm 31st July and invest at least £250)
762° Expired

£50 cash back for NatWest Reward Customers (If you open an investment account by 5pm 31st July and invest at least £250)

125
Posted 5th Jul

This deal is expired. Here are some options that might interest you:

Just got this email from NatWest...

We have a special offer for Reward current account customers that are new to NatWest Invest.

Open an investment account by 5pm 31st July and invest at least £250 (net of any withdrawals) by 30th November to get £50 cashback.

Pretty decent deal for some who have £250 lying around in their account doing nothing. Hope it helps a few
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Might want to put NatWest Reward customers in the topic (many probably have the free account, not the £2 per month account).

You can switch to that account, however.
Edited by: "Ashe" 5th Jul
Sharpharp08/07/2019 10:31

Everything good except the £2 a month fee, i'm out

You make £6-£15 cash back on bills for not doing anything!? You may aswel be out of the hukd app mate
125 Comments
Do ANY charges gobble this £50 up ?
Easy £50.
InTheKnow44405/07/2019 00:37

Do ANY charges gobble this £50 up ?


A little... but I think I'm right in saying that you don't need to invest all £250 in one go so you'll only be paying charges on £50 and any increase then put the remaining £200 in later before the deadline in November I think...
Might want to put NatWest Reward customers in the topic (many probably have the free account, not the £2 per month account).

You can switch to that account, however.
Edited by: "Ashe" 5th Jul
Also available with RBS.
Ashe05/07/2019 01:14

Might want to put NatWest Reward customers in the topic (many probably …Might want to put NatWest Reward customers in the topic (many probably have the free account, not the £2 per month account).You can switch to that account, however.


Done 🏽
InTheKnow44405/07/2019 00:37

Do ANY charges gobble this £50 up ?



I just chucked £250 in to the RBS version, and selected the highest risk fund (which has an emphasis on low charges, so the factsheet says), and total charges were 1.02% per year. So assuming no increase or decrease in the investment at all I think my total fees were set to be <£3 for the year. So well under the £50 bonus. Didn't bother checking out the fees on the other funds, I want the high risk fund.

By the way I opted to pay the setup fees from my bank account rather than from my investment, just to be sure they didn't then count it as an investement of <£250 and not pay me the £50! Not sure if that would have happened, but better safe than sorry.

Whole process took < 5 mins (since I already had an RBS reward account (opened in the last week in a swap from Natwest, to get that switching bonus!))
Edited by: "Jules_HT" 5th Jul
Jules_HT05/07/2019 12:30

I just chucked £250 in to the RBS version, and selected the highest risk …I just chucked £250 in to the RBS version, and selected the highest risk fund (which has an emphasis on low charges, so the factsheet says), and total charges were 1.02% per year. So assuming no increase or decrease in the investment at all I think my total fees were set to be <£3 for the year. So well under the £50 bonus. Didn't bother checking out the fees on the other funds, I want the high risk fund.By the way I opted to pay the setup fees from my bank account rather than from my investment, just to be sure they didn't then count it as an investement of <£250 and not pay me the £50! Not sure if that would have happened, but better safe than sorry.Whole process took < 5 mins (since I already had an RBS reward account (opened in the last week in a swap from Natwest, to get that switching bonus!))


As per simonprr's post above, you could have only put in £50 now and the other £200 or so later. But I suppose it's likely only a quid or two if the added risks of a few months don't bother you.

Terms say "make a qualifying contribution of at least £50, which shall include an ISA transfer, into either or both of the above accounts between 1 July 2019 and 31 July 2019 inclusive (the “offer period”) and you make total qualifying contributions of at least £250 between 1 July 2019 and 30 November 2019"

I'm likely to put £200 in November, just because nobody knows quite what will happen with Brexit at the end of October.
In fairness it was done out of laziness- it's done now and I can forget it and await the £50 just in time for Xmas.

This £250 will be the least of my worries (behind, for example, my pension pot) if the stock market collapses and this dives.
Jules_HT05/07/2019 13:10

In fairness it was done out of laziness- it's done now and I can forget it …In fairness it was done out of laziness- it's done now and I can forget it and await the £50 just in time for Xmas. This £250 will be the least of my worries (behind, for example, my pension pot) if the stock market collapses and this dives.


Yes likewise with my pension pot, if worse happens, no knee jerk reactions, I just won’t look for a year, the ostrich approach
Provided you don't immiently need to cash it in, just look at it from the perspective that all your contributions will be buying you way more units than they are now, and in the coming years and decades that'll increase when it all rallies, and will fatten up the final pot.
Jules_HT05/07/2019 13:10

In fairness it was done out of laziness- it's done now and I can forget it …In fairness it was done out of laziness- it's done now and I can forget it and await the £50 just in time for Xmas. This £250 will be the least of my worries (behind, for example, my pension pot) if the stock market collapses and this dives.


Yep, fair enough. Just really highlighting for those that the £250 might be more of a concern for that they can avoid much of the Brexit uncertainty (probably) by sticking most in at near end November.

That's not to say it couldn't suddenly nosedive on 30 November, of course - anyone investing needs to know the risk.
Edited by: "Ashe" 5th Jul
How does this compare to things like REIT investments? Im new to this so just gathering info
Obviously nothing is guaranteed, but it would be very unlikely that the low risk (i.e. predominantly bond) fund would drop by enough to wipe out the free £50 over the timeframe, so (almost) a no-brainer.

I really should pay more attention to NatWest's spam emails!
When can you withdraw, 1st Dec??
I have a reward account, but I haven't got this email. Would it still work? I can't see this offer anywhere on the website.
Ashe05/07/2019 01:14

Might want to put NatWest Reward customers in the topic (many probably …Might want to put NatWest Reward customers in the topic (many probably have the free account, not the £2 per month account).You can switch to that account, however.


Yeah I assume this offer is only for people with the £2 a month account? Or higher level reward accounts.
joco20206/07/2019 07:15

I have a reward account, but I haven't got this email. Would it still …I have a reward account, but I haven't got this email. Would it still work? I can't see this offer anywhere on the website.


Is it free one or do you pay any fee?
cheeky_chops05/07/2019 22:04

When can you withdraw, 1st Dec??


Hehe just what I was wondering!

It does say in terms that cashback isn't paid until 21st December or something like that so I think I'd wait till then.
Edited by: "S1X" 7th Jul
S1X07/07/2019 08:19

Yeah I assume this offer is only for people with the £2 a month account? …Yeah I assume this offer is only for people with the £2 a month account? Or higher level reward accounts.


I opened a new Reward account in order to qualify for it - there's also the possible option of filling in a form on Natwest's website to switch an existing account to Reward.
S1X07/07/2019 08:20

Is it free one or do you pay any fee?


£2 a month.
joco20207/07/2019 10:42

£2 a month.



Which, provided you send your household bills through it, is a good account to have. I get >£6.50 rewards cashback on my household bills every month on this account, which more than makes up for the fee.


It's not invite only though, and you don't need to have been selected or received an email.

The offer is shown here on the main page personal.natwest.com/per…tml

There is a copy that looks identical but for the branding, on the RBS Invest site.

Eligibility (copied & pasted from the full T&Cs available on the site linked above is- there is more in that doc than I have pasted here):

You are eligible for the Reward Cashback Offer if you hold a Reward current account with NatWest and, for the first time, you open:

• a NatWest Invest Account; and/or
• a NatWest Invest ISA,

and you make a qualifying contribution of at least £50, which shall include an ISA transfer, into either or both of the above accounts between 1 July 2019 and 31 July 2019 inclusive (the “offer period”) and you make total qualifying contributions of at least £250 between 1 July 2019 and 30 November 2019.

Throughout these offer terms we will refer to the above accounts as “eligible accounts” and any contributions, including ISA transfers, you make into those eligible accounts during the period 1 July 2019 to 30 November 2019 as “qualifying contributions”.

Cashback Offer
We will pay you cashback of £50, provided you have met the eligibility criteria and subject to the following conditions:
• The maximum cashback that we will pay to you is £50 regardless of (a) the number of NatWest Invest eligible accounts you hold and (b) the total amount of qualifying contributions you make into those NatWest Invest eligible accounts.
• If you withdraw and/or transfer out any amounts from any NatWest Invest eligible accounts between 1 July 2019 and
30 November 2019 inclusive, the amount of the withdrawal and/or transfer will be deducted from the amount of qualifying
contributions for the purposes of calculating if you are due any cashback payment from us.
• If you terminate your Agreement with us in terms of clause 14.1, or we terminate your Agreement with us in terms of clause 14.2, of your NatWest Invest Terms and Conditions before 30 November 2019 you will cease to be due any cashback payment from us.
• If you close your Relevant Account before 30 November 2019 you will cease to be due any cashback payment from us.
• Payments that you are due will be made into your Relevant Account by no later than 21 December 2019.
Edited by: "Jules_HT" 8th Jul
Everything good except the £2 a month fee, i'm out
Edited by: "Sharpharp" 8th Jul
Jules_HT08/07/2019 09:27

Which, provided you send your household bills through it, is a good …Which, provided you send your household bills through it, is a good account to have. I get >£6.50 rewards cashback on my household bills every month on this account, which more than makes up for the fee.It's not invite only though, and you don't need to have been selected or received an email.The offer is shown here on the main page https://personal.natwest.com/personal/investments/natwest-invest.htmlThere is a copy that looks identical but for the branding, on the RBS Invest site.Eligibility (copied & pasted from the full T&Cs available on the site linked above is- there is more in that doc than I have pasted here):You are eligible for the Reward Cashback Offer if you hold a Reward current account with NatWest and, for the first time, you open:• a NatWest Invest Account; and/or• a NatWest Invest ISA,and you make a qualifying contribution of at least £50, which shall include an ISA transfer, into either or both of the above accounts between 1 July 2019 and 31 July 2019 inclusive (the “offer period”) and you make total qualifying contributions of at least £250 between 1 July 2019 and 30 November 2019.Throughout these offer terms we will refer to the above accounts as “eligible accounts” and any contributions, including ISA transfers, you make into those eligible accounts during the period 1 July 2019 to 30 November 2019 as “qualifying contributions”.Cashback OfferWe will pay you cashback of £50, provided you have met the eligibility criteria and subject to the following conditions:• The maximum cashback that we will pay to you is £50 regardless of (a) the number of NatWest Invest eligible accounts you hold and (b) the total amount of qualifying contributions you make into those NatWest Invest eligible accounts.• If you withdraw and/or transfer out any amounts from any NatWest Invest eligible accounts between 1 July 2019 and30 November 2019 inclusive, the amount of the withdrawal and/or transfer will be deducted from the amount of qualifyingcontributions for the purposes of calculating if you are due any cashback payment from us.• If you terminate your Agreement with us in terms of clause 14.1, or we terminate your Agreement with us in terms of clause 14.2, of your NatWest Invest Terms and Conditions before 30 November 2019 you will cease to be due any cashback payment from us.• If you close your Relevant Account before 30 November 2019 you will cease to be due any cashback payment from us.• Payments that you are due will be made into your Relevant Account by no later than 21 December 2019.


Cheers!
Sharpharp08/07/2019 10:31

Everything good except the £2 a month fee, i'm out

You make £6-£15 cash back on bills for not doing anything!? You may aswel be out of the hukd app mate
Sharpharp08/07/2019 10:31

Everything good except the £2 a month fee, i'm out


Switch to Reward account
Pay approx £10 in fees
Receive £50 bonus
Switch to no fee account
nice .. and it's for RBS customer too
Ashe08/07/2019 11:55

Switch to Reward accountPay approx £10 in feesReceive £50 bonusSwitch to n …Switch to Reward accountPay approx £10 in feesReceive £50 bonusSwitch to no fee account



In the meantime, pay £2 a month until you get the bonus..... i'm out
Sharpharp08/07/2019 12:38

In the meantime, pay £2 a month until you get the bonus..... i'm out


Er, yes - that's why I said "pay approx £10 in fees".
Sharpharp08/07/2019 12:38

In the meantime, pay £2 a month until you get the bonus..... i'm out


Don't you have household bills to pay?

Ashe08/07/2019 11:55

Switch to Reward accountPay approx £10 in feesReceive £50 bonusSwitch to n …Switch to Reward accountPay approx £10 in feesReceive £50 bonusSwitch to no fee account



If you don't already have one of these accounts you get £150 for switching to it. Even if you already have Natwest or RBS you can still get £150 for switching to the other one!

So it's £150 for switching current accounts,
minus say £12 in monthly fees (for 6 months of having the account)
plus say £5 a month in monthly cahsback (assuming you have household bills - otherwise none)
Plus £50 bonus for investing £250 for a few months.

So you're definitely at lease £188 to the good for switching and doing this even if you don't pay HH bills, probably more like £218 if you do.

Plus another £100+ to switch current accout away again in 6 months time if you aren't making sufficient cash back on the bills to want to stay.....

Money doesn't come any easier than this.
I fully agree - though in my case I meant switch from a non-fee NatWest account to the £2 fee NatWest account, using the form they have on their website, not a current account switch from another bank - which I've already done
joco20206/07/2019 07:15

I have a reward account, but I haven't got this email. Would it still …I have a reward account, but I haven't got this email. Would it still work? I can't see this offer anywhere on the website.


Just click on the link, log in using your online shizzle, job done
Just signed up. Good shout OP. Heat
Thanks
Jules_HT08/07/2019 13:22

Don't you have household bills to pay? If you don't already have one of …Don't you have household bills to pay? If you don't already have one of these accounts you get £150 for switching to it. Even if you already have Natwest or RBS you can still get £150 for switching to the other one!So it's £150 for switching current accounts, minus say £12 in monthly fees (for 6 months of having the account)plus say £5 a month in monthly cahsback (assuming you have household bills - otherwise none)Plus £50 bonus for investing £250 for a few months.So you're definitely at lease £188 to the good for switching and doing this even if you don't pay HH bills, probably more like £218 if you do.Plus another £100+ to switch current accout away again in 6 months time if you aren't making sufficient cash back on the bills to want to stay.....Money doesn't come any easier than this.



There are way better ways to get discounts on household bills than using Natwest, honestly some people are clueless
When can the money be transferred out? Will it be locked in the Invest ISA for a set amount of time after the November cashback?
Edited by: "jp-supra" 8th Jul
Sharpharp08/07/2019 13:52

There are way better ways to get discounts on household bills than using …There are way better ways to get discounts on household bills than using Natwest, honestly some people are clueless


This works on top of those though...

If your council tax bill is more than £100/month it pays for itself immediately just based on that one (not very flexible!) bill.

Nobody is saying that you can get this and not bother making sure your bills are as low possible, that'd be mental.
Shocking bank. Dont be fooled, Natwest is just RBS is disguise.

Go invest with Nutmeg if you want a better investment return.
I'm assuming you can't get this offer if you already have a stocks and shares isa?
Vistrix08/07/2019 14:18

I'm assuming you can't get this offer if you already have a stocks and …I'm assuming you can't get this offer if you already have a stocks and shares isa?



As I understand it, you can only invest in one stocks and shared ISA within the year. So if you already have one for this year you would need to switch it to Natwest/RBS. If you have one for a previous tax year you can start a fresh one here.
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