Santander 123 vs NatWest Rewards

hilljd00

Hi,

I am after confirmation on a couple of questions regarding these accounts. I've searched the forums but I cannot find the answer.

1. What is the interest rate on the Natwest account? I cannot find it anywhere! I am assuming it is also 3%?

2. If someone has savings; is the 123 account better even though the cashback is lower?

Thank you to anyone who takes the time to reply

grumbler

MSE: RBS to launch cashback current account, but is it any good?

colsten

hilljd00 wrote: »

1. What is the interest rate on the Natwest account? I cannot find it anywhere! I am assuming it is also 3%?

what does it say on the Natwest site? If it doesn't mention anything about interest, you can safely conclude that there is no interest.

grumbler

It does mention: Personal and Private Current Account Terms
p.22-23

The annual rates of nterest pad on credt balances are as follows:
(a) Basic Account, Foundaton, Talored Account, Select Account, Reward, Select Slver Account, Reward Slver, Select Platnum Account, Reward Platinum, Student Account and Graduate Account
- These accounts do not pay nterest on credt balances.

DragonQ

NatWest: 0% interest, £3/mo fee, 3% cashback on bills
Santander: 3% interest, £5/mo fee, 1-3% cashback on bills

I think the Santander account is only better if you want to take advantage of the 3% interest. Even then, there are other accounts out there that offer better interest so unless you've filled all of those up, the Santander 123 account seems rather pointless now.