Can I use Natwest's Reward Account just to pay my bills?

mdbuk

My household bills which would be eligible under Natwest's rules come to about £160/month, so that seems to be enough to make a profit after the £3 monthly fee. Where does the £270 figure come from in the Best Bank Accounts article?

I was wondering if I could open a Natwest Reward account and pay the £160 over to it by standing order, then set the Direct Debit payments to go from that account, purely to benefit from the cashback.

Is there a flaw in this plan?

- Marc

cheesetoast

That's fine, so long as you're also paying in enough to cover the £3 monthly fee.

YorkshireBoy

mdbuk wrote: »

Where does the £270 figure come from in the Best Bank Accounts article?

From the original write up at launch, where it was compared to other 'reward' type accounts available...

http://www.moneysavingexpert.com/news/banking/2015/10/rbs-to-launch-cashback-current-account-but-is-it-any-good

mdbuk

So is the £270 an old figure? The Halifax and Barclays accounts aren't mentioned on the Best Current Accounts guide, as far as I can see.

Anthorn

mdbuk wrote: »

My household bills which would be eligible under Natwest's rules come to about £160/month, so that seems to be enough to make a profit after the £3 monthly fee. Where does the £270 figure come from in the Best Bank Accounts article?

I was wondering if I could open a Natwest Reward account and pay the £160 over to it by standing order, then set the Direct Debit payments to go from that account, purely to benefit from the cashback.

Is there a flaw in this plan?

- Marc

That's what I do.

mdbuk

Anthorn wrote: »

That's what I do.

And how much are your monthly bills?

- Marc