Natwest Rewards - What's the catch?

bigadaj

chambta wrote: »

If I'm deemed to be paying too much, several energy companies I've used have automatically reduced the d/d.

A cynic might say their preference is to keep people in debt rather than in credit.

That is totally counter intuitive and bizarrely wrong.

Every company wants money in as soon as possible, and delay payment as long as possible, as they benefit from the difference in the funding costs for the debts and credits. I currently work for a very large multi national that defaults suppliers to 90 day payment terms, so nearly four months from supply of goods/ completion of works to actually getting the cash. This is hardly ethical but is standard business practice, any business being offered payment above and beyond what they are contractually entitled to would bite your hand off, even when that money will eventually have to be repaid.

chambta

anoncol wrote: »

How would that help them exactly?

Pretty obvious really. People are less inclined to move suppliers.

kaiserphoenix

Does this count multiple mobile bills or just 1 each?

For example what if I have 2 council tax, 3 mobile phones, 3 broadbands coming out, would that pay out all 8? Or just 1 of each "category"? Thank you

yoshiyella

kaiserphoenix wrote: »

Does this count multiple mobile bills or just 1 each?

For example what if I have 2 council tax, 3 mobile phones, 3 broadbands coming out, would that pay out all 8? Or just 1 of each "category"? Thank you

I only have 1 council tax, but have 2 mobile phones and 2 lots of Virgin media coming out and get rewarded on all of it!

arfurdent

the concern about moving to the Natwest Rewards account is that I have to give up a free current account. Something banks have been pushing for. What happens when Natwest modify the T&Cs e.g. reducing the number of DD on which you get cashback. Bet they will not allow an easy migration back to a free current account

bigadaj

arfurdent wrote: »

the concern about moving to the Natwest Rewards account is that I have to give up a free current account. Something banks have been pushing for. What happens when Natwest modify the T&Cs e.g. reducing the number of DD on which you get cashback. Bet they will not allow an easy migration back to a free current account

You can have as many current accounts as you want, or at least what the banks will allow you.

Many on these boards have somewhere between ten and twenty.