New Natwest Reward Accounts
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New Natwest Reward Accounts

16
Found 13th Oct 2015
Natwest launched new Reward current accounts yesterday, with the basic one costing just £3 a month and giving you:
- 3% cashback on household bills paid by direct debit.
- 1% on contactless payments until the end of the year.
- At least 1% at Reward Partner retailers.

Haven't done the full maths, but I guess this account will make you better off than Santander 123 after they up the price later in the year as announced. Transferring an existing NatWest account is as easy as filling in one form.

Also to celebrate the launch of these new accounts, if you also have a Reward Credit Card you will also get:
- The card annual fee (currently £24) refunded.
- 3% cashback on supermarket spending (up from 1% normally) for the rest of 2015.

Seems like a good deal to me!
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Not if you have £20,000 on your current account.
Santander give you 3% for the balance up to £20,000. This one give you interest close to none ...

If you have reasonable amount of money to save them, TSB plus account + Santander 123 is the way to go.


Hammeh

Haven't done the full maths, but I guess this account will make you … Haven't done the full maths, but I guess this account will make you better off than Santander 123 after they up the price later in the year as announced.


Edited by: "pantaiema" 13th Oct 2015
I'am (soon to be was) 123 account customer, I was happy with the santander until i read that from Jan next year my current acc and my credit card would cost me £96 a year, for me this makes the cash back pointless.

I had a look around and nationwide were offering a free current acc with o/d at 18% (much better than £1per day for me any how) and a credit card with option of int free purchase for 15 months or balance transfer for I think 16 months or combined for 6 months. No monthly fee on credit card either.
(£75.75 tcb too)

Not promoting any banks, but I will lose out if i stay a 123 account customer (sad face)
Edited by: "shortchanged" 13th Oct 2015
SCAM

Its all a scam, don't trust the money, its not real.
I'm very happy with Santander even with the fee increase. However, I dumped the credit card after the first year because the cash back didn't cover the charge.
As said before, no good if you have a good amount of balance to earn the interest. I have £20,000 in my 123 account to get the max interest. Even with the increased fee next year I can't see a better option. Might go to TSB for an additional account for the money that I have I excess of the 20k with santander.

Edited by: "t_kaay" 13th Oct 2015
You actually only need £100 of bills to cover the £3 and anything over that is a bonus. Council tax is included in the 7 bills you receive 3% on and my council tax is almost £200. The cash is real I have just deposited £40 from my rewards to my bank account ☺️
no credit interest?
Original Poster
Sadly not!

I would agree with the above, if you have a spare few £1000's lying around then you are better off with an account with interest. I don't which is why I failed to even think about it!
i got this free from August until end of this year and so far i have had £28 of cashback paid
money for nothing as i have a current account with them anyway

i will probably pay the £3pm as i get more than this from the cashback
Banned
Natwest pester me all the time to move my account to a paid current account for £12.99 a month then £9.99 when I go in there. Now this £3 per month. I wonder how long it will be before they force all their customers to pay for current accounts.
binda

SCAMIts all a scam, don't trust the money, its not real.



Money not real ?? Give me your money then ,..
mutley1

i got this free from August until end of this year and so far i have had … i got this free from August until end of this year and so far i have had £28 of cashback paidmoney for nothing as i have a current account with them anyway :)i will probably pay the £3pm as i get more than this from the cashback


I'm getting about the same as you too, if you've already got a NatWest account its a no brainer
pantaiema

Money not real ?? Give me your money then ,..



Ok I will leave it in a black bag behind the tree at the top of the street in the town of the county which is part of the country of the world where i left it. OK.
Not sure why this is cold. For people relying on cashback from 1|2|3 Current Accounts these are a no brainer.
binda

Ok I will leave it in a black bag behind the tree at the top of the … Ok I will leave it in a black bag behind the tree at the top of the street in the town of the county which is part of the country of the world where i left it. OK.



Not ok:, because I do not know how much effort do I need to put to hunt the treasure. How much money inside ....

I wonder if anyone here in this HUKD does not have any concern about money. Is it not true, we are all here mainly for that reason and you have been in HUKD for sometimes now ....

I have a proposal donate it to HUKD so they could serve us better to facilitate finding a bargain...... Email the Mod about your intention. How does it sound .......

Edited by: "pantaiema" 14th Oct 2015
I don't really understand why people have to post they are staying with Santander as they have £20K in their current accounts, good for them but bank customers with £20K in a current account must be in the minority.

If you are already a NatWest customer it's a good deal as you are now getting money for doing nothing, if you aren't you need to just weigh up which current account is giving the best perks.
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