NatWest and RBS to scrap bills cashback - what you need to know

clivep

RG2015 wrote: »

Anyway which household bill would be as low as £2 per month?

My car tax DD is £1.75/month.:)

I've moved DDs for the monthly TV licence and a £2/month Post Office Saver to the NatWest a/c.

Santander Lite a/c opened on Wednesday and immediately visible online (online a/c still accessible despite previous current a/c having been switched out in October after receiving £1500 of Amazon vouchers).

Household utilities currently with NatWest will be moved across to Santander after 20th Jan once this month's DDs have been taken.

NatWest banking app installed and will be logged into once per month.

ronbell101

I have had the reward account pre the minimum pay in requirement I have searched and cannot find any information regarding minimum pay ins for "older" customers once the new rewards scheme comes into effect,any one help me with this please ?

Saethryth

I just went to use my rewards (what's leftover before the massive cut coming next month) and the tradeups have actually become more expensive.

It now costs £7 of rewards to get 1 cinema ticket. Wow! Thanks NW, I only need to wait 5 months to earn enough to go to the pictures!

And today I've found out they've slashed the interest earnings on my savings account by up to 50%. :mad:

surreysaver

I intend to upgrade my NatWest Select account to a Reward account to take advantage of the changes from 1st February. When is the best time to do this (my direct debits come out at the beginning of the month - I obviously don't want to pay the £2 charge for January if I'm not going to gain)?

tg99

surreysaver wrote: »

I intend to upgrade my NatWest Select account to a Reward account to take advantage of the changes from 1st February. When is the best time to do this (my direct debits come out at the beginning of the month - I obviously don't want to pay the £2 charge for January if I'm not going to gain)?

Was just thinking the same myself having just been looking at the Natwest website. Personally I’m going to wait till 1 Feb to make sure I avoid any Jan monthly fee and then set up my two direct debits (looks like from FAQ that they need to be two monthly ones rather than the same one paying weekly). I’m hoping it will be quick and straightforward to upgrade via the app......anyone else done this already and can comment on how long the upgrade takes?

surreysaver

tg99 wrote: »

Was just thinking the same myself having just been looking at the Natwest website. Personally I’m going to wait till 1 Feb to make sure I avoid any Jan monthly fee and then set up my two direct debits (looks like from FAQ that they need to be two monthly ones rather than the same one paying weekly). I’m hoping it will be quick and straightforward to upgrade via the app......anyone else done this already and can comment on how long the upgrade takes?

Here's my thread from last month asking the same question!
https://forums.moneysavingexpert.com/discussion/6080459/converting-natwest-select-account-to-a-reward-account&page=1

Woohoo0

Do you know if Natwest and/or RBS still have the switch and stay offer on?

I’ve been thinking about switching one of my accounts to get the offer and then open a savings builder account too.

Ghostcrawler

no its not, for current offers you can refer the Best Bank accounts MSE page. https://www.moneysavingexpert.com/banking/compare-best-bank-accounts/

ffacoffipawb

This was good while it lasted with £12 a month cashback.

Not worth keeping the account for me now really.

I think I need a large rationalisation of my current accounts is in order. I am not getting any younger and I am not sure my wife would relish sorting all these out ...

1 First Direct Current account - pension goes here (makes me sound old)
1 RBS (Childs) rewards for bills
2 other RBS current accounts (Childs and Drummonds for snob value)
3 Halifax Rewards for £6 a month total cashback, was £15.
1 Club Lloyds for cinema tickets
3 TSB 3% accounts (not used for over a year, all empty)
1 Nationwide Flexplus for breakdown cover

Probably only worth keeping first direct, club lloyds and FlexPlus really?

Consumerist

ffacoffipawb wrote: »

. . . I am not getting any younger and I am not sure my wife would relish sorting all these out ...

Good thinking, particularly when most contact from the banks, these days, is online.

I have printed out a Statement of Affairs listing all my accounts, current, savings and credit cards, which is kept with my Will and is updated when changes are made.