Natwest 3% cashback for bills

dmliverpool

Hi I checked out the Natwest website the other day and saw that they are giving away 3% cashback on household bills. This is like the santander 123 account but without the flat fee.

In addition you get 1% cashback on most contact less spending.

I woirked out I would get about £165 back from bills and about £30 on my spending.

Not bad.

YorkshireBoy

dmliverpool wrote: »

Hi I checked out the Natwest website the other day and saw that they are giving away 3% cashback on household bills. This is like the santander 123 account but without the flat fee.

In addition you get 1% cashback on most contact less spending.

I woirked out I would get about £165 back from bills and about £30 on my spending.

Not bad.

Seems to me, on reading the T&Cs, that the 3% on DDs "offer period" ends on 31st December 2015, so only runs for 5 months.

Am I missing something?

grumbler

dmliverpool wrote: »

...
I woirked out I would get about £165 back from bills

Do your household bills really amount to £5.5K p.a., i.e. ~£500 p.m.?

Dird

Where does it mention this? All I see is 1% besides a forum post on natwest also without a source

YorkshireBoy

Dird wrote: »

Where does it mention this?

I just googled...

NatWest "3%" cashback

And the results are here...

https://www.google.co.uk/#q=natwest+%223%25%22+cashback

The actual cashbackplus T&Cs are here...

https://www.cashbackplus.natwest.com/downloads/132/pdf/terms-and-conditions.pdf

...and section 14 deals with the 3% cashback on DDs offer.

chambta

Only on packaged accounts or Private Banking customers.

edinburghlad

This is an offer for customers with package accounts or private banking accounts and will end on 31st dec. later in the year RBS and NatWest will launch a reward account which will offer 3% cash back on household bills for a fee of £2 per month.

colsten

At the moment, the Santander 123 is still the best account for most people who are after cashback on household bills as it is open to everybody, and also pays up to 3% interest.

It remains to be seen whether the £2/mth account from Natwest will be real competition for the 123. If it does not also offer at least the same opportunities for earning interest, it may not represent better value for money than the 123.

knack92

colsten wrote: »

At the moment, the Santander 123 is still the best account for most people who are after cashback on household bills as it is open to everybody, and also pays up to 3% interest.

It remains to be seen whether the £2/mth account from Natwest will be real competition for the 123. If it does not also offer at least the same opportunities for earning interest, it may not represent better value for money than the 123.

I can't imagine it will offer any credit interest. Royal Bank of Scotland/NatWest are woeful in that regard.