NatWest new reward rules

RG2015

My £1 reward for logging into the NatWest app has already been credited to my reward account. It is dated 1st February so clearly NatWest have everything set up correctly for the new system.

I have two direct debits going out this week so I would expect them to be credited this week also. Bear in mind though that it takes 35 days before any rewards can be redeemed.

I previously had my energy, water and council tax going here for the previous 2% reward. These have already been transferred to my Santander 123 Lite to continue earning cashback albeit at a lower rate for water and council tax.

clivep

No rewards yet showing for the DD that went out Monday (3rd) or the one on Wednesday (5th). Your post reminded me to do the monthly sign-in. Other DDs already tranferred to Santander Lite.

Rewards from credit card show the anticipated drop from 0.5% to 0.25% except for supermarket spend which is still 1%. Interestingly my Groupon charges show as 1% so are treated as supermarket spend! I must remember this and continue to pay by cr card rather than PayPal (which would only attract 0.25%).

abz88

Its worth opening the RBS rewards account as well now for an additional £3.

ffacoffipawb

abz88 said:

Its worth opening the RBS rewards account as well now for an additional £3.

Seems not worthwhile anymore, may just switch my account to Santander.

clivep

ffacoffipawb said:

Seems not worthwhile anymore, may just switch my account to Santander.

The main reason I've kept the account open is to get the £24 annual charge for their Reward credit card refunded.

Even after the recent reduction, the credit card gives a competitive cashback.

Wheres_My_Cashback

I moved my DDs over to my 123 Lite account which have already been credited as my statement date was the 6th.
I expect Nat West to do the same and enter DD rewards at the statement date so effectively running up to 31 days behind the payment. The login reward however does seem to be credited almost immediately.

blue.peter

RG2015 said:

My £1 reward for logging into the NatWest app has already been credited to my reward account. It is dated 1st February so clearly NatWest have everything set up correctly for the new system.

I have two direct debits going out this week so I would expect them to be credited this week also. Bear in mind though that it takes 35 days before any rewards can be redeemed.

My account is with RBS rather than NatWest, but I don't think that makes any difference in practice. They seem to operate the same systems and processes. I haven't noticed any differences in products, either.

That 35-day wait is irritating, isn't it? This is just one of the many reasons why I don't like RBS, and will be dumping them as soon as they've paid the £50 that they promised if I remain with them for a year. I regret getting sucked in by their switching offer last summer.

Like you, I've had my £1 reward for logging in to the app credited. However, they do appear to be very slow at crediting the reward for DDs. Four were paid out of my account on Monday, 3 February: council tax, energy, water and mobile phone. All were over the £2 threshold. As of today, Sunday 9 February, my Reward account still shows no sign of the promised £4.

RG2015

blue.peter said:
My account is with RBS rather than NatWest, but I don't think that makes any difference in practice. They seem to operate the same systems and processes. I haven't noticed any differences in products, either.

That 35-day wait is irritating, isn't it? This is just one of the many reasons why I don't like RBS, and will be dumping them as soon as they've paid the £50 that they promised if I remain with them for a year. I regret getting sucked in by their switching offer last summer.

Like you, I've had my £1 reward for logging in to the app credited. However, they do appear to be very slow at crediting the reward for DDs. Four were paid out of my account on Monday, 3 February: council tax, energy, water and mobile phone. All were over the £2 threshold. As of today, Sunday 9 February, my Reward account still shows no sign of the promised £4.

I do not find it irritating and not a reason to decline free money. You say one of many reasons for leaving but I have very happy with them.

Also I do not know when NatWest have arranged for the DD reward to be credited. I had not expected the login reward to to be so quick. Perhaps that is why expectations have now gone up for the £4 DD reward.

blue.peter

RG2015 said:

I do not find it irritating and not a reason to decline free money. You say one of many reasons for leaving but I have very happy with them.

I'm glad to hear that you're happy with RBS. We clearly care about different things. No big surprise: we're different people. I'm not going to attempt to persuade you to leave them, but the fact that you're happy with them won't persuade me to stay.

It's not free money, though. We pay £2/month for the account. One of the contractual terms (which they've just changed) is a promise of cashback. At no point before signing up was I warned that they'd hold on to that cashback for over a month (which seems to mean that I'll never get any in respect of my last month before I dump them). I had expected it to be paid automatically into my account, and within a more reasonable timescale.

Whilst I find this delay a bit irritating, it's far from being the only reason why I dislike RBS: there are about half a dozen other irritants. None is serious on its own, but the cumulative effect on me is one of overall dissatisfaction.

RG2015

blue.peter said:

It's not free money, though. We pay £2/month for the account. One of the contractual terms (which they've just changed) is a promise of cashback. At no point before signing up was I warned that they'd hold on to that cashback for over a month (which seems to mean that I'll never get any in respect of my last month before I dump them). I had expected it to be paid automatically into my account, and within a more reasonable timescale.

Thanks for the reply. My view is that I pay £2 and get £5 in return hence NatWest are paying me £3 per month for something I always do every month. As regards the 35 day delay I was always aware of this and it must have been in the account highlights as I never read the full Ts & Cs.

RG2015

Now here's a thing, my NatWest Rewards account shows a 1% cashback credit for supermarket spend on 6th Feb with M&S online for a clothes purchase.

New rules and glitches in my favour. You've just got to love NatWest.

PS: It’s not an update glitch. I checked back and I got 1% on my previous order last August. Hence M&S counts as supermarket spend for NatWest Rewards.