NatWest - 1% cash back on all Contactless payments

TheEffect

In case anyone has missed this, NatWest are giving 1% cash back for all Contactless payments using your debit card.

While it's not a lot - every little helps, so remember to use Contactless instead of chip&pin when you grab your coffee next.

karlie88

TheEffect wrote: »

In case anyone has missed this, NatWest are giving 1% cash back for all Contactless payments using your debit card.

While it's not a lot - every little helps, so remember to use Contactless instead of chip&pin when you grab your coffee next.

Is it not at certain retailers?

silvercar

karlie88 wrote: »

Is it not at certain retailers?

No. Reward bonus is at certain retailers, this is on every payment.

https://www.cashbackplus.natwest.com/Collect/Offer/5834

anon_ymous

TheEffect wrote: »

In case anyone has missed this, NatWest are giving 1% cash back for all Contactless payments using your debit card.

While it's not a lot - every little helps, so remember to use Contactless instead of chip&pin when you grab your coffee next.

That's certainly better than cashback credit cards, HOWEVER it also means leaving x amount in NatWest ie: losing you interest in another high street bank

It's also for "contactless" payments only, so say under £20 items

When Santander or Lloyds or TSB start giving 1% back by paying on card, that's when I start to close down some credit cards (Aside from the cards I use for foreign currencies)

If you're with NatWest though, I guess you may as well

TheEffect

karlie88 wrote: »

Is it not at certain retailers?

Nope, all Contactless transactions. You also get the cash back from the retailer if they're on the list i.e. 6% cash back from Caffe Nero and 1% cash back for using Contactless.

Archi_Bald

I get 1% cashback on my Barclays Amex CC. Most places I use do take AMEX, and in those that don't, I use the Barclays VISA CC which pays 0.5%. Except in places where my Santander 123 CC gives me 1, 2 or 3% cashback. All these cards are contactless but cashback isn't limited to contactless. It's a bit of a kerfuffle at first to remember when to use which card but I got used to it quite quickly.

I prefer using a CC rather than a DC for contactless as I don't have to watch my balance quite as closely on the CC.

anon_ymous

Also in a way by paying on credit card youre making a tiny bit more in interest

ie: take someone whos a 20% tax payer

With a Santander 123 account, that's around 0.2%/month
With a club Lloyds account, that's around 0.26%/month
With a TSB plus account that's around 0.33%/month

So in effect any thing from 0.5% cashback to 0.83% cashback by using a credit card

you'd also lose more in interest by keeping money in a NatWest account. I haven't had a look at the accounts but I don't think the rate are great

TheEffect

Calm down gents!

I'm sure there's always ways to make a few more pennies elsewhere. For those who have a NatWest current account however, this is certainly not a bad benefit.

colsten

waqasahmed wrote: »

I haven't had a look at the accounts but I don't think the rate are great

You are right, the Natwest current account rate for credit balances is 0%. Has been 0%, for years.

anon_ymous

TheEffect wrote: »

Calm down gents!

I'm sure there's always ways to make a few more pennies elsewhere. For those who have a NatWest current account however, this is certainly not a bad benefit.

That's true I guess For me, the only thing NatWest is "good" for is exchanging foreign currency, in the form of "buy back cash"

Thought the saving is marginal and I now have better plastic

Last time it was cheaper for me to send my money to Covent Garden FX in London, than it was to use any one else(Tell a lie, I would have got 10p more if I converted it at NatWest, but I'm not going to open an account with NatWest for that)

diceydeb

Their rewards credit card pays you 2500 points booster every year worth £12.50 in amazon vouchers and we only spent a few quid on it when they were doing a points promotion. It was worth keeping just for that.