Natwest Reward account

eddie7612

Does anyone know if the minimum £1250 monthly pay in is enforced on this account? I've paid out 2 direct debits and logged into the app but I haven't paid in that much this month.

colsten

You won't be getting your reward payment if you haven't fulfilled all of the eligibility criteria. £1,250 paid in is one of them.

You can achieve this by doing multiple deposits, and, if necessary, multiple withdrawals.

clivep

colsten said:

You won't be getting your reward payment if you haven't fulfilled all of the eligibility criteria. £1,250 paid in is one of them.

This condition only applies to accounts opened from 26/06/17. If, like me, you opened the a/c before this then there is no pay-in requirement.

Note that if you have multiple NatWest a/cs then the pay-in requirement can be met by paying into a different eligible a/c to the Reward one. (e.g. My neighbour has an ancient NatWest joint Select a/c which receives over £1,250/month. This satisfies the eligiblity requrement for his Reward a/c).

Poor_Leno

colsten said:

If you can manage to spend £2k in the first 3 months of having the Amex Nectar card, you get £100 worth of Nectar points

https://www.americanexpress.com/uk/credit-cards/nectar-credit-card/

cheers.  I could probably hit that considering i'm currently in the process of buying a property and will be investing in it.  The only main supermarket in the town is a Sainsbury's aswell, so, it might be something to consider.  £100 is nothing to turn your nose up at especially considering I currently have an M&S current account just to get the two gift cards they offered up last year (that and the 5% saver).    I see Sainsbury's own credit card offers 7,500 nectar points on first 10 shops - 750 per shop (min. spend £35).  I don't know how that compares but thought it was pretty decent.  Attraction with that over the amex reward would be it being more useful AFTER earning the promotion bonus.  I just don't like the idea with that amex reward account the rewards are a long time to wait in getting given the normal 5,000 point requirement outside the promotion.

clivep said:

colsten said:

You won't be getting your reward payment if you haven't fulfilled all of the eligibility criteria. £1,250 paid in is one of them.

This condition only applies to accounts opened from 26/06/17. If, like me, you opened the a/c before this then there is no pay-in requirement.

Note that if you have multiple NatWest a/cs then the pay-in requirement can be met by paying into a different eligible a/c to the Reward one. (e.g. My neighbour has an ancient NatWest joint Select a/c which receives over £1,250/month. This satisfies the eligiblity requrement for his Reward a/c).

Only thing to say about being able to meet the pay-in with another account held with Natwest is you can't circulate the money from other Natwest accounts, the pay-in from another eligible account has to be from an external source.  I've got about 4 or 5 reward accounts now with these kind of conditions and all I do is circulate my monthly bills money each month between them over a few days before sending it back.  Wish I did stuff like this sooner than the last couple years tbh cos its a pretty easy way of earning some easy money, it does all add up aswell.

eddie7612

Poor_Leno said:

colsten said:

If you can manage to spend £2k in the first 3 months of having the Amex Nectar card, you get £100 worth of Nectar points

https://www.americanexpress.com/uk/credit-cards/nectar-credit-card/

cheers.  I could probably hit that considering i'm currently in the process of buying a property and will be investing in it.  The only main supermarket in the town is a Sainsbury's aswell, so, it might be something to consider.  £100 is nothing to turn your nose up at especially considering I currently have an M&S current account just to get the two gift cards they offered up last year (that and the 5% saver).    I see Sainsbury's own credit card offers 7,500 nectar points on first 10 shops - 750 per shop (min. spend £35).  I don't know how that compares but thought it was pretty decent.  Attraction with that over the amex reward would be it being more useful AFTER earning the promotion bonus.  I just don't like the idea with that amex reward account the rewards are a long time to wait in getting given the normal 5,000 point requirement outside the promotion.

clivep said:

colsten said:

You won't be getting your reward payment if you haven't fulfilled all of the eligibility criteria. £1,250 paid in is one of them.

This condition only applies to accounts opened from 26/06/17. If, like me, you opened the a/c before this then there is no pay-in requirement.

Note that if you have multiple NatWest a/cs then the pay-in requirement can be met by paying into a different eligible a/c to the Reward one. (e.g. My neighbour has an ancient NatWest joint Select a/c which receives over £1,250/month. This satisfies the eligiblity requrement for his Reward a/c).

Only thing to say about being able to meet the pay-in with another account held with Natwest is you can't circulate the money from other Natwest accounts, the pay-in from another eligible account has to be from an external source.  I've got about 4 or 5 reward accounts now with these kind of conditions and all I do is circulate my monthly bills money each month between them over a few days before sending it back.  Wish I did stuff like this sooner than the last couple years tbh cos its a pretty easy way of earning some easy money, it does all add up aswell.

Just to check, are payments in from other people's accounts held with NatWest classified as an external source?

Poor_Leno

The rule around the £1,250 pay in simply states this :

" Excludes payments into Foundation, Basic or Mortgage accounts AND transfers between any Natwest accounts held in your name "


So, I suppose money deposited from other named Natwest accounts is fine.  Not sure what the situation would be for a joint account though, for example.  Only thing I would say is there have been reports about Natwest closing accounts for either no reason or for suspicious activity.  Not saying they would definitely do so in that instance, but if they consider it to be a breach of their account terms by using other named accounts, they might.   Their T&Cs are not explicitly clear about it though - perhaps they should be!