RBS & NatWest Rewards

ischris85

ratechaser said:

Ghostcrawler said:

just now I had a very interesting conversation with a lady who was from Reward account team. My call was put through to them as it was a question related to reward account. So she confirmed I can have as many reward account provided I keep paying £1250 and 2 direct debits coming out every month from that account. I asked her is there a limit or I can have as many as reward accounts - she said as long as we approve your account when you apply online and pay-in £1250 with 2 DDs, you will get monthly reward in that account. Conversation ended.

Based on the call its worth trying and I am certainly going to apply for the second reward account and see how it goes.

Well if that's true it could be extraordinarily lucrative, especially with the premier select version and a bunch of £4.50 DDs to Kent Reliance or wherever you can direct it to these days.

100 accounts, £800 net return per month.

Although I suspect they'd shut my account down for commercial reasons long before we got to that point!

Who has mentioned opening 100 accounts? Certainly no one in this thread!

kaMelo

Ghostcrawler said:

ischris85 said:

Ghostcrawler said:

just now I had a very interesting conversation with a lady who was from Reward account team. My call was put through to them as it was a question related to reward account. So she confirmed I can have as many reward account provided I keep paying £1250 and 2 direct debits coming out every month from that account. I asked her is there a limit or I can have as many as reward accounts - she said as long as we approve your account when you apply online and pay-in £1250 with 2 DDs, you will get monthly reward in that account. Conversation ended.

Based on the call its worth trying and I am certainly going to apply for the second reward account and see how it goes.

Assume you need 2 DD's from each account to get the reward?

yes £1250 pay-in requirement and 2 DDs is applicable to every reward account to get the reward.

The lady from the reward account team is about as wrong as she can be.
There is no requirement to pay £1250 into each reward account. That's just wrong advice.

£1250 needs to be paid into "a" personal current account. It doesn't even have to be a rewards account, paying into a Select account would qualify all eligible reward accounts. The only exclusions are Foundation, Basic and Mortgage accounts, any other personal account is okay.
The terms and conditions state how many accounts with the word "Rewards" in their name you may have. One solo, one joint.

Those two points are not in doubt or debatable, they are explicitly written in the terms and conditions upon which the offer exists.
I know sometimes the IT banks employ allows things to happen or not  happen, but that doesn't mean it won't be picked up later on. Nationwide for example wouldn't stop you opening two FlexDirect accounts but before the interest was credited they would close one of them. 
 I hope you don't suffer the same fate with RBS/Natwest.

funkycredit said:

On the app - where do you see rewards? I've got to mess around clicking into account then at top by my balance the reward account text is a link. I click that and a popup appears. Then takes me out the app to here -> https://myrewards.natwest.com/Login?ReturnUrl=%2Flogin&TimedOut=1&Refresh=1

Is that normal or should there be a dedicated rewards icon somewhere? 

There should be a dedicated section like there is for each account,as it is an account in it's own right. Rewards can be earned in many ways, Credit/Debit card purchases as well as DD's on the current account.

Ghostcrawler

ratechaser said:

Ghostcrawler said:

just now I had a very interesting conversation with a lady who was from Reward account team. My call was put through to them as it was a question related to reward account. So she confirmed I can have as many reward account provided I keep paying £1250 and 2 direct debits coming out every month from that account. I asked her is there a limit or I can have as many as reward accounts - she said as long as we approve your account when you apply online and pay-in £1250 with 2 DDs, you will get monthly reward in that account. Conversation ended.

Based on the call its worth trying and I am certainly going to apply for the second reward account and see how it goes.

Well if that's true it could be extraordinarily lucrative, especially with the premier select version and a bunch of £4.50 DDs to Kent Reliance or wherever you can direct it to these days.

100 accounts, £800 net return per month.

Although I suspect they'd shut my account down for commercial reasons long before we got to that point!

I guess 100 accounts is just an exaggerated number but in reality I don't even know if it's possible for an individual to have 100 personal current account with just one bank. Plus it will be a real headache to cycle £1250 monthly and have 2 DDs on each account and manage it.

Ghostcrawler

kaMelo said:

Ghostcrawler said:

ischris85 said:

Ghostcrawler said:

just now I had a very interesting conversation with a lady who was from Reward account team. My call was put through to them as it was a question related to reward account. So she confirmed I can have as many reward account provided I keep paying £1250 and 2 direct debits coming out every month from that account. I asked her is there a limit or I can have as many as reward accounts - she said as long as we approve your account when you apply online and pay-in £1250 with 2 DDs, you will get monthly reward in that account. Conversation ended.

Based on the call its worth trying and I am certainly going to apply for the second reward account and see how it goes.

Assume you need 2 DD's from each account to get the reward?

yes £1250 pay-in requirement and 2 DDs is applicable to every reward account to get the reward.

The lady from the reward account team is about as wrong as she can be.
There is no requirement to pay £1250 into each reward account. That's just wrong advice.

£1250 needs to be paid into "a" personal current account. It doesn't even have to be a rewards account, paying into a Select account would qualify all eligible reward accounts. The only exclusions are Foundation, Basic and Mortgage accounts, any other personal account is okay.
The terms and conditions state how many accounts with the word "Rewards" in their name you may have. One solo, one joint.

Those two points are not in doubt or debatable, they are explicitly written in the terms and conditions upon which the offer exists.
I know sometimes the IT banks employ allows things to happen or not  happen, but that doesn't mean it won't be picked up later on. Nationwide for example wouldn't stop you opening two FlexDirect accounts but before the interest was credited they would close one of them. 
 I hope you don't suffer the same fate with RBS/Natwest.

funkycredit said:

On the app - where do you see rewards? I've got to mess around clicking into account then at top by my balance the reward account text is a link. I click that and a popup appears. Then takes me out the app to here -> https://myrewards.natwest.com/Login?ReturnUrl=%2Flogin&TimedOut=1&Refresh=1

Is that normal or should there be a dedicated rewards icon somewhere? 

There should be a dedicated section like there is for each account,as it is an account in it's own right. Rewards can be earned in many ways, Credit/Debit card purchases as well as DD's on the current account.

The way I understand is for "a" reward account you need to pay £1250 every month and have 2 DDs, so if you have 3 rewards account then need to comply the requirements on all 3 rewards account to be eligible to get rewards. We can all argue who/what is right and wrong but if anything happens which goes against our decision then it will only affect us and not the bank..then there is long set of conversations, inconvenience, complaints and so forth. So I am going to open another reward account soon and will comply to requirements on the new reward account too. I don't mind paying £1250 as I am already cycling the monthly payins in 7-8 banks, so one more and have extra DDs which I can spare for my this new reward account. Keep it simple and hope to get another £36 per year.

kaMelo

Ghostcrawler said:

kaMelo said:

Ghostcrawler said:

ischris85 said:

Ghostcrawler said:

just now I had a very interesting conversation with a lady who was from Reward account team. My call was put through to them as it was a question related to reward account. So she confirmed I can have as many reward account provided I keep paying £1250 and 2 direct debits coming out every month from that account. I asked her is there a limit or I can have as many as reward accounts - she said as long as we approve your account when you apply online and pay-in £1250 with 2 DDs, you will get monthly reward in that account. Conversation ended.

Based on the call its worth trying and I am certainly going to apply for the second reward account and see how it goes.

Assume you need 2 DD's from each account to get the reward?

yes £1250 pay-in requirement and 2 DDs is applicable to every reward account to get the reward.

The lady from the reward account team is about as wrong as she can be.
There is no requirement to pay £1250 into each reward account. That's just wrong advice.

£1250 needs to be paid into "a" personal current account. It doesn't even have to be a rewards account, paying into a Select account would qualify all eligible reward accounts. The only exclusions are Foundation, Basic and Mortgage accounts, any other personal account is okay.
The terms and conditions state how many accounts with the word "Rewards" in their name you may have. One solo, one joint.

Those two points are not in doubt or debatable, they are explicitly written in the terms and conditions upon which the offer exists.
I know sometimes the IT banks employ allows things to happen or not  happen, but that doesn't mean it won't be picked up later on. Nationwide for example wouldn't stop you opening two FlexDirect accounts but before the interest was credited they would close one of them. 
 I hope you don't suffer the same fate with RBS/Natwest.

funkycredit said:

On the app - where do you see rewards? I've got to mess around clicking into account then at top by my balance the reward account text is a link. I click that and a popup appears. Then takes me out the app to here -> https://myrewards.natwest.com/Login?ReturnUrl=%2Flogin&TimedOut=1&Refresh=1

Is that normal or should there be a dedicated rewards icon somewhere? 

There should be a dedicated section like there is for each account,as it is an account in it's own right. Rewards can be earned in many ways, Credit/Debit card purchases as well as DD's on the current account.

The way I understand is for "a" reward account you need to pay £1250 every month and have 2 DDs, so if you have 3 rewards account then need to comply the requirements on all 3 rewards account to be eligible to get rewards. We can all argue who/what is right and wrong but if anything happens which goes against our decision then it will only affect us and not the bank..then there is long set of conversations, inconvenience, complaints and so forth. So I am going to open another reward account soon and will comply to requirements on the new reward account too. I don't mind paying £1250 as I am already cycling the monthly payins in 7-8 banks, so one more and have extra DDs which I can spare for my this new reward account. Keep it simple and hope to get another £36 per year.

From the Terms:

5.3
If you open your Reward account from 26 June 2017 onwards, you must pay at

least £1,250 in total every calendar month into any personal current account(s)

you hold with us (excluding a Foundation account, Basic account or a current

account mortgage product). The £1,250 can’t be paid in from a current account

or savings account you hold with us.

Nothing about each and every account, any account bar those excluded will qualify all Reward accounts.

5.4
From 1 February 2020, you may not open a Reward account if you already have

a Reward, Reward Silver, Reward Platinum or Reward Black account ('existing

account'), unless:

• the Reward account you want to open is a sole account and your existing

account is a joint account, or

• the Reward account you want to open is a joint account and your existing

account is a sole account.

It's as clear as day.  
I do wish you well however I also know from personal experience how RBS operate, published terms and conditions trump everything.

funkycredit

Well my second rewards account - and the actual My Rewards tab is up and visible online do I stuffed it with £1250 (new one) and right now have 2 open rewards. Both have £1250 in and both have £1k overdrafts. All pretty easy so far..... will set up DD's today ready to start earning rewards. 

PRAISETHESUN

funkycredit said:

Well my second rewards account - and the actual My Rewards tab is up and visible online do I stuffed it with £1250 (new one) and right now have 2 open rewards. Both have £1250 in and both have £1k overdrafts. All pretty easy so far..... will set up DD's today ready to start earning rewards. 

I was considering doing this a few months ago so I might give it a shot now for both NatWest and RBS. Yes they state it's against their T&Cs but if they fail to enforce them that's their problem IMO. Will be curious if they catch on and downgrade one of them - keep us updated with how that goes!

Ghostcrawler

kaMelo said:

Ghostcrawler said:

kaMelo said:

Ghostcrawler said:

ischris85 said:

Ghostcrawler said:

just now I had a very interesting conversation with a lady who was from Reward account team. My call was put through to them as it was a question related to reward account. So she confirmed I can have as many reward account provided I keep paying £1250 and 2 direct debits coming out every month from that account. I asked her is there a limit or I can have as many as reward accounts - she said as long as we approve your account when you apply online and pay-in £1250 with 2 DDs, you will get monthly reward in that account. Conversation ended.

Based on the call its worth trying and I am certainly going to apply for the second reward account and see how it goes.

Assume you need 2 DD's from each account to get the reward?

yes £1250 pay-in requirement and 2 DDs is applicable to every reward account to get the reward.

The lady from the reward account team is about as wrong as she can be.
There is no requirement to pay £1250 into each reward account. That's just wrong advice.

£1250 needs to be paid into "a" personal current account. It doesn't even have to be a rewards account, paying into a Select account would qualify all eligible reward accounts. The only exclusions are Foundation, Basic and Mortgage accounts, any other personal account is okay.
The terms and conditions state how many accounts with the word "Rewards" in their name you may have. One solo, one joint.

Those two points are not in doubt or debatable, they are explicitly written in the terms and conditions upon which the offer exists.
I know sometimes the IT banks employ allows things to happen or not  happen, but that doesn't mean it won't be picked up later on. Nationwide for example wouldn't stop you opening two FlexDirect accounts but before the interest was credited they would close one of them. 
 I hope you don't suffer the same fate with RBS/Natwest.

funkycredit said:

On the app - where do you see rewards? I've got to mess around clicking into account then at top by my balance the reward account text is a link. I click that and a popup appears. Then takes me out the app to here -> https://myrewards.natwest.com/Login?ReturnUrl=%2Flogin&TimedOut=1&Refresh=1

Is that normal or should there be a dedicated rewards icon somewhere? 

There should be a dedicated section like there is for each account,as it is an account in it's own right. Rewards can be earned in many ways, Credit/Debit card purchases as well as DD's on the current account.

The way I understand is for "a" reward account you need to pay £1250 every month and have 2 DDs, so if you have 3 rewards account then need to comply the requirements on all 3 rewards account to be eligible to get rewards. We can all argue who/what is right and wrong but if anything happens which goes against our decision then it will only affect us and not the bank..then there is long set of conversations, inconvenience, complaints and so forth. So I am going to open another reward account soon and will comply to requirements on the new reward account too. I don't mind paying £1250 as I am already cycling the monthly payins in 7-8 banks, so one more and have extra DDs which I can spare for my this new reward account. Keep it simple and hope to get another £36 per year.

From the Terms:

5.3
If you open your Reward account from 26 June 2017 onwards, you must pay at

least £1,250 in total every calendar month into any personal current account(s)

you hold with us (excluding a Foundation account, Basic account or a current

account mortgage product). The £1,250 can’t be paid in from a current account

or savings account you hold with us.

Nothing about each and every account, any account bar those excluded will qualify all Reward accounts.

5.4
From 1 February 2020, you may not open a Reward account if you already have

a Reward, Reward Silver, Reward Platinum or Reward Black account ('existing

account'), unless:

• the Reward account you want to open is a sole account and your existing

account is a joint account, or

• the Reward account you want to open is a joint account and your existing

account is a sole account.

It's as clear as day.  
I do wish you well however I also know from personal experience how RBS operate, published terms and conditions trump everything.

I know its very clear from T&C hence I never bothered to open another reward account but I spoke to NatWest and RBS CS and both said the same thing. I also asked them if my call is recorded and asked them to mention the discussion/note on my account regarding this.  So I am all set up to create another reward account and will see how it goes, worse case the account will be downgraded and I will have to pay £2 fees in the first month but I will have the satisfaction that I tried.

funkycredit

PRAISETHESUN said:

funkycredit said:

Well my second rewards account - and the actual My Rewards tab is up and visible online do I stuffed it with £1250 (new one) and right now have 2 open rewards. Both have £1250 in and both have £1k overdrafts. All pretty easy so far..... will set up DD's today ready to start earning rewards. 

I was considering doing this a few months ago so I might give it a shot now for both NatWest and RBS. Yes they state it's against their T&Cs but if they fail to enforce them that's their problem IMO. Will be curious if they catch on and downgrade one of them - keep us updated with how that goes!

I tried RBS but wouldn't entertain an application as I'm in England I presume? 

Will keep you updated next month when hopefully the rewards will be sorted. 

PRAISETHESUN

funkycredit said:

PRAISETHESUN said:

funkycredit said:

Well my second rewards account - and the actual My Rewards tab is up and visible online do I stuffed it with £1250 (new one) and right now have 2 open rewards. Both have £1250 in and both have £1k overdrafts. All pretty easy so far..... will set up DD's today ready to start earning rewards. 

I was considering doing this a few months ago so I might give it a shot now for both NatWest and RBS. Yes they state it's against their T&Cs but if they fail to enforce them that's their problem IMO. Will be curious if they catch on and downgrade one of them - keep us updated with how that goes!

I tried RBS but wouldn't entertain an application as I'm in England I presume? 

Will keep you updated next month when hopefully the rewards will be sorted. 

That's odd because I live in England too and I have both a NatWest and RBS reward account, both generating monthly rewards. I had issues getting access to the rewards aspects of the accounts as discussed earlier in the thread by the OP, but no issues opening the current accounts themselves.