RBS Black Reward Account

supasaverbob

Has anyone recently successfully upgraded their RBS standard current account to the black reward one? I have paid in £5500 a month to my RBS account for the last four months but am told I'm not eligible to be upgraded...

Jo_Blogs

4 months @ £5500 per month is not enough to qualify.

You need one of the following to be able to upgrade:

"Available to all customers with a sole income of at least £100,000 paid into their Royal Bank of Scotland account, or minimum outstanding mortgage borrowings with us of £300,000, or savings and investments of at least £100,000 held with us."

http://personal.rbs.co.uk/private/reward-black-account.html

supasaverbob

Ah ok, I was reading the income requirement of £100k as gross salary

sausage_time

Not convinced the benefits would be worth £336 per year for me.

notafan

I dont get this type of status account.

If i was so loaded i was eligible i wouldn't want to advertise the fact.

Likewise if i was mortgaged up to the hill

SYHR

Does this mean the net salary has to be £100K? I always assumed it was based on gross salary, and you'd be accepted if you paid in around £6K per month.

Marchitiello

@Supaseverbob

Was wondering if you have deposited £5500 a month or you have paid a salary of £5500 a month?

Banks have access to a shared database of actual earning, so those premium account will look for actual earning, not monthly deposits.

supasaverbob

It's my salary. Marchitiello are you talking about the data-sharing that banks do in relation to what people put in their applications (i.e. stated earnings rather than actual earnings)?

Marchitiello

I will need to look at the source again but I have read that banks can track what earning get paid into current account and share this info amongst themselves, so for example if you earn £2500 pm but move it across all your accounts and back in the original one, all the relevant banks will know that it was actually one salary paid in.

With regards to RBS black account eligibility, if you had indeed a net salary paid in of £5500 per month, which equal to £100k gross per annum, then you would be elegible, and therefore you should be able to demonstrate via payslips that this is the case. HSBC has a similar criteria.

AlexPF

The salary information is obtained from CRAs. Banks track direct credits and forward the info to CRAs, they take care of creating a "profile" with the monthly supposed income. I believe a SAR (not credit report) requesting this specific information would reveal the details.

In regards to the upgrade, a call to private24 should allow you to book an appointment. Otherwise just walk in a branch and say that you'd be interested in an account upgrade, I sorted mine out that way.

No_6

If you have the money then this card will be OK