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    • TheGame21
    • By TheGame21 2nd Oct 17, 8:54 PM
    • 131Posts
    • 15Thanks
    TheGame21
    Santander 123 v Natwest for Cashback
    • #1
    • 2nd Oct 17, 8:54 PM
    Santander 123 v Natwest for Cashback 2nd Oct 17 at 8:54 PM
    Me and my wife are currently looking at opening a cashback account as we feel that is the best one considering the direct debits we have. I have looked at both the Santander 123 and the Natwest accounts. Which accounts in people's views would be best? I know Natwest offers more cashback however in people's expierence is this worth it considering the slightly higher monthly fee? We haven't got a Santander mortgage.
Page 1
    • ceredigion
    • By ceredigion 2nd Oct 17, 9:01 PM
    • 2,333 Posts
    • 2,869 Thanks
    ceredigion
    • #2
    • 2nd Oct 17, 9:01 PM
    • #2
    • 2nd Oct 17, 9:01 PM
    Me and my wife are currently looking at opening a cashback account as we feel that is the best one considering the direct debits we have. I have looked at both the Santander 123 and the Natwest accounts. Which accounts in people's views would be best? I know Natwest offers more cashback however in people's expierence is this worth it considering the slightly higher monthly fee? We haven't got a Santander mortgage.
    Originally posted by TheGame21


    You sure....
    • TheGame21
    • By TheGame21 2nd Oct 17, 9:14 PM
    • 131 Posts
    • 15 Thanks
    TheGame21
    • #3
    • 2nd Oct 17, 9:14 PM
    • #3
    • 2nd Oct 17, 9:14 PM
    You sure....
    Originally posted by ceredigion
    Is it a no brainer with the Natwest one then?
    • YorkshireBoy
    • By YorkshireBoy 2nd Oct 17, 9:35 PM
    • 29,446 Posts
    • 17,230 Thanks
    YorkshireBoy
    • #4
    • 2nd Oct 17, 9:35 PM
    • #4
    • 2nd Oct 17, 9:35 PM
    Is it a no brainer with the Natwest one then?
    Originally posted by TheGame21
    Is it? Santander have a cashback calculator on their website. Presumably NatWest have the same? Only you know what your bills are so plug your numbers in!

    I presume when you say "123" you really mean "123 Lite"?
    • TheGame21
    • By TheGame21 2nd Oct 17, 9:48 PM
    • 131 Posts
    • 15 Thanks
    TheGame21
    • #5
    • 2nd Oct 17, 9:48 PM
    • #5
    • 2nd Oct 17, 9:48 PM
    Is it? Santander have a cashback calculator on their website. Presumably NatWest have the same? Only you know what your bills are so plug your numbers in!

    I presume when you say "123" you really mean "123 Lite"?
    Originally posted by YorkshireBoy
    Yes sorry, meant the 123 lite. Just did the calculations and would get more cashback with the Natwest account however I'm not sure if their calculator takes into account the monthly fee in the cashback so that would be taken off however that seems to be best one considering we don't have a Santander mortgage or Aviva insurance.
    • YorkshireBoy
    • By YorkshireBoy 2nd Oct 17, 9:54 PM
    • 29,446 Posts
    • 17,230 Thanks
    YorkshireBoy
    • #6
    • 2nd Oct 17, 9:54 PM
    • #6
    • 2nd Oct 17, 9:54 PM
    Yes sorry, meant the 123 lite. Just did the calculations and would get more cashback with the Natwest account however I'm not sure if their calculator takes into account the monthly fee in the cashback so that would be taken off however that seems to be best one considering we don't have a Santander mortgage or Aviva insurance.
    Originally posted by TheGame21
    It doesn't. You need to deduct the £24 fees from the annual cashback predicted.
    • TheGame21
    • By TheGame21 2nd Oct 17, 10:25 PM
    • 131 Posts
    • 15 Thanks
    TheGame21
    • #7
    • 2nd Oct 17, 10:25 PM
    • #7
    • 2nd Oct 17, 10:25 PM
    It doesn't. You need to deduct the £24 fees from the annual cashback predicted.
    Originally posted by YorkshireBoy
    Thanks, I have done and also the £12 fee from the Santander. It seems to be (if I have calculated correctly) if you have a Santander mortgage or Aviva insurance, the 123 lite is best however otherwise the Natwest one seems better if you go with average monthly bills.
    • Neil Jones
    • By Neil Jones 3rd Oct 17, 3:24 PM
    • 821 Posts
    • 450 Thanks
    Neil Jones
    • #8
    • 3rd Oct 17, 3:24 PM
    • #8
    • 3rd Oct 17, 3:24 PM
    This might not apply to you but under Santander payments to the council all attract 1% cashback on both 123 and 123 Lite. This includes council tax (which is what the cashback was originally designed for) but also seems to include council housing rent, council provided home insurance and anything else that you make regular payments to the council for as a quirk of the system.

    Whether this applies to Natwest I can't say.
    • wiseonesomeofthetime
    • By wiseonesomeofthetime 3rd Oct 17, 7:52 PM
    • 101 Posts
    • 48 Thanks
    wiseonesomeofthetime
    • #9
    • 3rd Oct 17, 7:52 PM
    • #9
    • 3rd Oct 17, 7:52 PM
    I have both the 123 Lite and the NatWest Rewards.

    Mobile and STV package go through Santander, with energy, council tax and water rates through NatWest.

    I hold the 123 Lite for access to the 5% Regular Saver, so worth having the two for me.

    Outlay combined is just £3 per month. Benefits surpass that.
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