£50 Cashback with NatWest or RBS Invest

grumiofoundation

ischris85 said:

I have initiated a S&S ISA.  I note they state it takes two working days to setup. I can't see anywhere that monthly contributions need to be £50/the total investment needs to be equal to or greater then £250 as at 31.10.2020 to be eligible for the £50 cashback.

I think it’s because minimum initial investment is £100 and minimum monthly investment is £50 and have to invest for 3 months. 

ischris85

grumiofoundation said:

ischris85 said:

I have initiated a S&S ISA.  I note they state it takes two working days to setup. I can't see anywhere that monthly contributions need to be £50/the total investment needs to be equal to or greater then £250 as at 31.10.2020 to be eligible for the £50 cashback.

I think it’s because minimum initial investment is £100 and minimum monthly investment is £50 and have to invest for 3 months. 

Ahh found it...

Q. How do I start making regular monthly contributions?

A. When setting up your investment for the first time, you will be asked ‘How much do you want to Invest’ and you’ll have the option of entering a single investment amount, monthly investment amount, or both. If you have already set-up your investment and would like to add a regular monthly contribution, you can do so by selecting your Personal Portfolio Fund and selecting ‘set up monthly contributions’. The minimum monthly amount that you can invest is £50.

older_wiser

its a shame that natwest invest isn't available within the banking app either iphone/ipad or even on the natwest banking site you have to log in using your online banking details which led me to think once it was set up it would be.

Decent offer though i'm hoping other banks might do this kind of thing to replace the cashback offers for switching which have dried up for me. 

ischris85

older_wiser said:

its a shame that natwest invest isn't available within the banking app either iphone/ipad or even on the natwest banking site you have to log in using your online banking details which led me to think once it was set up it would be.

Decent offer though i'm hoping other banks might do this kind of thing to replace the cashback offers for switching which have dried up for me. 

Yes, same. I also though it would also be included in your list of accounts.

Asghar

For the monthly investments, does anyone know if the DD have to come out the Natwest current account or can it be any account from another bank?

Just seems to state that only need a Natwest account to take up the initial offer.

ischris85

The login page for Natwest invest states:

Only individuals who have a NatWest account and authorised access to Online Banking should proceed beyond this point.

https://invest.natwest.com/Root/Login

colsten

Asghar said:

For the monthly investments, does anyone know if the DD have to come out the Natwest current account or can it be any account from another bank?

Just seems to state that only need a Natwest account to take up the initial offer.

All deposits must come from a Natwest current account (or RBS account for the RBS offer).

kaMelo

When setting up the investment account it gives you a list of your available NatWest/RBS accounts from which you choose which one the initial £100 and future monthly payments are to come from, there are no other options for outside accounts.
You cannot set up anything less than £50 for future payments or it throws an error. 
It does however give you the choice when in the month to send the payment. I chose the last day of the month as this is more about the cashback than the investment. This way it gives me time to make sure I've got the cashback in November before cancelling the next payment at the end of November.

ischris85

kaMelo said:

When setting up the investment account it gives you a list of your available NatWest/RBS accounts from which you choose which one the initial £100 and future monthly payments are to come from, there are no other options for outside accounts.
You cannot set up anything less than £50 for future payments or it throws an error. 
It does however give you the choice when in the month to send the payment. I chose the last day of the month as this is more about the cashback than the investment. This way it gives me time to make sure I've got the cashback in November before cancelling the next payment at the end of November.

That's a good idea. Though looking at the website, it is not obvious how to cancel the monthly contributions. Perhaps by changing the monthly contribution amount to nil?

colsten

ischris85 said:

kaMelo said:

When setting up the investment account it gives you a list of your available NatWest/RBS accounts from which you choose which one the initial £100 and future monthly payments are to come from, there are no other options for outside accounts.
You cannot set up anything less than £50 for future payments or it throws an error. 
It does however give you the choice when in the month to send the payment. I chose the last day of the month as this is more about the cashback than the investment. This way it gives me time to make sure I've got the cashback in November before cancelling the next payment at the end of November.

That's a good idea. Though looking at the website, it is not obvious how to cancel the monthly contributions. Perhaps by changing the monthly contribution amount to nil?

You just tick the Stop box.