Natwest reward account is changing from 2% back to £5 a month

9
Posted 1st Nov
The Natwest reward account will be changing from 1st of February. Currently you get 2% back on household bills but this is changing to £4 back for paying 2 direct debits and £1 for logging into mobile banking each month.

Direct debits can be for anything as long as they are more than £2 per month, which now will include more customers. Minimum pay in is £1250 a month to be eligible for a reward account.

The reward credit card will also be reducing from 0.5% everywhere you shop to 0.25%

Currently you can still get £150 to switch to Natwest untill December. This might be hot for anyone with a Halifax reward account as you can get back £3 a month after the account fee and also the switcher fee.
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9 Comments
I’m with Santander and still get about £11
Cash back each month for a £1 cost
so from 2% which is around £18 per month for me to £4 hmm.
AMaky01/11/2019 14:24

so from 2% which is around £18 per month for me to £4 hmm.


How are you spending £900 a month on those bills?
davidian8401/11/2019 14:55

How are you spending £900 a month on those bills?


It's not just bills, you get cashback on spending too.

However, my bills are pretty high, starting with council tax of £250 per month which is included in the cashback. Then add all the rest of usual bills.
This is the account with the £2 fee, right? Seems an odd business decision to charge £2 for an account where they're definitely going to give you £5 back anyway.
Ferris01/11/2019 15:42

This is the account with the £2 fee, right? Seems an odd business decision …This is the account with the £2 fee, right? Seems an odd business decision to charge £2 for an account where they're definitely going to give you £5 back anyway.


Different categories that can be tweaked later.
bozo00701/11/2019 16:05

Different categories that can be tweaked later.


What do you mean?
Ferris01/11/2019 17:40

What do you mean?


Reduce the rewards, keep the fee unchanged. Or bring new rewards. Fee goes under Fee Income and is an important metric for investors while Rewards can be treated as Loyalty / Marketing expenses.
If this is true then I will move my household bills to Santander.
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