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Rewards on both NatWest and RBS Rewards accounts?

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Is there anything that prevents rewards being paid on both a NatWest and an RBS account? It's not something I had previously looked into as they both paid an uncapped % of Council Tax/Gas/Electric/Phone/Broadband etc, but with the changes coming into force in February that move them both to paying £5 rewards (minus the £2 fee) is it now worth holding both a NatWest and RBS account for double rewards?

I can't see anything in the T&Cs that prevent this unless I am missing something obvious?
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  • Gray001
    Gray001 Posts: 32 Forumite
    Fifth Anniversary 10 Posts
    I contacted Natwest via Facebook last night and asked this same question as I have a RBS select account and intend to upgrade to take advantage of this. The conversation was a bit confusing at the start as he thought I wanted to combine my rewards into same reward account (don't know how this is possible since although they are sister banks - they are two are still separate bank with their own identities)

    Anyway after the confusion - I got him to confirm if I have the two accounts and two separate linked reward accounts it shouldn't a problem. Two lots of rewards!

    I am already in process of setting up two direct debits on RBS account before upgrading to reward account and have also applied for the Natwest select account this morning as well with the same intention of linking two direct debits. Hope to be up and going for March :T
  • PRAISETHESUN
    PRAISETHESUN Posts: 4,862 Forumite
    Sixth Anniversary 1,000 Posts Photogenic Name Dropper
    edited 29 January 2020 at 4:48PM
    As you say, they are different accounts so as long as you meet the T&Cs for each of them then there isn't really any reason why they should deny you the reward on both accounts - might make all my PO savers useful for something again!

    And whilst you're playing around, it'd be worth taking a note of the DD requirement. The wording on NatWest's website seems to imply that a single mandate pulling weekly won't cut it here...
    NatWest wrote:
    You will need to have a minimum of 2 or more monthly Direct Debits paid from one of the Reward accounts listed above each month to earn your monthly Rewards.
    For Reward, Reward Silver and Reward Platinum accounts you will earn £4 a month back in Rewards for making two or more Direct Debits payments from your accounts – 2 of those Direct Debits need to be at least £2 each.
  • Gray001
    Gray001 Posts: 32 Forumite
    Fifth Anniversary 10 Posts
    Agreed! Be careful with the mandates - it's a shame it wouldn't take the single mandate paid out twice - but rules are rules I suppose. In have two credit cards for the RBS account - I recently changed to Sky broadband and I see they have a facility that allows small payments to be made. So I plan to just spend £2 each to meet this criteria. The Natwest account - I previously opened a HSBC account for the linked 3% saver. I had to have two active direct debits on it to get switch payment. I set up my broadband and another credit card - these will be my other two. Then the simplistic method of going into mobile banking app and transferring monies in and out will satisfy the additional criteria to get the full £5 award. After deductions of £2 - that's £6 easy money per month.

    Also, You mentioned you had a P.O. Saver and indicated using the direct debit in this. Can I ask why not just simply use this on the co-op rewards account. As disastrous as this has become.and most of the options are fine the DD facility still works. One mandate paid out fours time per month is sufficient. I always set up four manual direct debits in the month and make sure I hit the 30 spend limit to get the additional £1.50 rewards.

    This is now my second post on this (first post being abive). I've monitored this sight for a long time and got some good advice/tips to use.
  • PRAISETHESUN
    PRAISETHESUN Posts: 4,862 Forumite
    Sixth Anniversary 1,000 Posts Photogenic Name Dropper
    I've multiple PO savers that are gathering dust that were opened in the heyday of every bank needing DD requirements for something! Most of them do nothing these days but they are useful to keep around for things like this. If you're running out of ideas then see this useful thread for other ways you can generate DDs without needing heaps of bills: https://forums.moneysavingexpert.com/discussion/5734632

    As for the Co-Op account, I'm aware of it but I'm currently not eligible for it - the plan is to open on once I am however. Good to know a single mandate pulling weekly will cut it there though :)
  • abz88
    abz88 Posts: 312 Forumite
    Fourth Anniversary 100 Posts Name Dropper
    Gray001 wrote: »
    I contacted Natwest via Facebook last night and asked this same question as I have a RBS select account and intend to upgrade to take advantage of this. The conversation was a bit confusing at the start as he thought I wanted to combine my rewards into same reward account (don't know how this is possible since although they are sister banks - they are two are still separate bank with their own identities)

    Anyway after the confusion - I got him to confirm if I have the two accounts and two separate linked reward accounts it shouldn't a problem. Two lots of rewards!

    I am already in process of setting up two direct debits on RBS account before upgrading to reward account and have also applied for the Natwest select account this morning as well with the same intention of linking two direct debits. Hope to be up and going for March :T

    That's what I was hoping, both accounts now up and running and think I've finally finished moving DDs. Some from RBS to Santander and two to NatWest :rotfl:
  • So annoyingly I can't upgrade my Natwest account for six months!! As I was upgrading my RBS account - I found out that you can have 2 reward accounts. Had anyone done this yet to get 2 sets of rewards from the same bank? If so, do the two accounts appear in the same online and mobile log in or do they have separate log in details? If they both show I take it the one log in to see overview of both accounts will be sufficient to attract the £1 reward for both account? Does anyone know does this mean opening two "My rewards" accounts or will the one account be sufficient for both Reward current accounts?
  • abz88
    abz88 Posts: 312 Forumite
    Fourth Anniversary 100 Posts Name Dropper
    Yes, I have both NatWest and RBS rewards accounts set up and paying rewards. It is two separate logins, and rewards accounts, one on NatWest Website/App and one on RBS Website/App. You will need to login to both to get the rewards and they both pay out into separate "my rewards" accounts.
  • Thanks abz88. I was aware of this. I take it you haven't looked into having two reward current accounts with each bank which would bring in total of £12 rewards after fees as it seems each bank allows you to have two reward current accounts?
  • abz88
    abz88 Posts: 312 Forumite
    Fourth Anniversary 100 Posts Name Dropper
    Not looked into that yet. By two rewards accounts, do you mean one individual and one joint, or two individual?
  • No two individual. As I was upgrading my RBS account - before giving the final ok to the terms - one of them stated something like "I understand I can only have up to two Reward accounts" - something like that. When going in to upgrade my basic select account - I have two options 1. Upgrade to Reward account or 2. Apply for new Reward account. Natwest seems to be similar. So this was what I was wondering how it would work regarding claiming the £1, do you need two separate "My rewards" which each bank for each separate current account etc above.... But it looks like it's possible to get two sets of rewards from each bank
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