Natwest and RBS Reward accounts

PRAISETHESUN

ischris85 said:

Is this really a thread about why -2 + 4 + 1 = 3 

At least it's better than all the silly maths "problems" I see on Facebook which are deliberately written to confuse people, but only really serve to highlight how many people can't do simply arithmetic, such as "1 + 2 x 3 = ??"

But as highlighted above, if you're using the account to pay your actual bills or can manage to fabricate some DDs that pay out to yourself (such as to a savings account in your name) then if you hold both the NatWest and RBS Reward accounts then you're  £72 per year better off (£36 per account per year. Otherwise if you're using charity DDs, etc then yes you will lose money and you're probably better off looking at something else.

Sensory

waqasahmed said:

grumiofoundation said:

waqasahmed said:

Hi

I've had a look at these accounts and they cost £2 to maintain but give you £4 if you have at least two direct debits at £2 or more and another £1 to login each month. You effectively start with a minus £2

Do you not then actually lose at least £1-£2 each month?

Using simple maths I get this 

(-2 - 2 - 2) + 4 = - 2
-2 + 1 = - 1

So either a minus £2 or a minus £1 if you login once a month? 

You seem to be assuming the direct debits are wasted money. 

I guess for myself, they are given I have Santander to do billing where I get cashback 

Do you not have any direct debits that aren't used for cashback?

Even if you have no credit cards, no mortgage and no investment accounts, there are still at least two savings providers (widely and easily accessible) that allow you to automatically pay yourself any amount per week/month (if manually using PayPal is too much trouble).

surreysaver

And don't forget if you get the Rewards Credit Card as well, you get 1% cashback in supermarkets

myth123

For anybody that has opened a new Rewards account with RBS, do you have to sign up for myrewards on the website, or do they add an account to the online banking automatically? Thanks

RG2015

myth123 said:

For anybody that has opened a new Rewards account with RBS, do you have to sign up for myrewards on the website, or do they add an account to the online banking automatically? Thanks

A My Rewards icon appears on the app and if you click this it will take you into your My Rewards account via your browser. You do not need to register for this. I think this automatically happens, although at the time I did speak to RBS Rewards on the phone, so they may have registered me.

There is an icon within online banking, but you need to sign in again or register if you have not created an account. If you already have a NatWest Rewards account you will not be able to register for an RBS Reward account online. I am in this position and the only way I can Access my RBS My Rewards account is via the RBS app.

myth123

Thanks, the RBS rewards account has only just opened and the myrewards is not showing on online banking. I'll wait another day or 2 to see what happens, I have a Natwest reward account already so hoping it pops up, otherwise I'll have to give them a ring to see what happens. Looking at their website it says that it should show on the online banking, so I'm hopeful it's just a bit of a delay.

RG2015

Has the Rewards icon/link appeared in your NatWest app?

myth123

RG2015 said:

Has the Rewards icon/link appeared in your NatWest app?

Yes, I've had a Natwest reward account for ages, I registered for the myrewards on that years ago before it was functioning through the app.

RG2015

myth123 said:

RG2015 said:

Has the Rewards icon/link appeared in your NatWest app?

Yes, I've had a Natwest reward account for ages, I registered for the myrewards on that years ago before it was functioning through the app.

In that case, the only way to access RBS My Rewards will be via the app. The problem appears to be their inability to register the same email address for both NatWest rewards and RBS rewards.

I had to register an alternate email address with RBS Rewards over the phone.

There is another thread on this site discussing the issue.

https://forums.moneysavingexpert.com/discussion/6194017/natwest-rbs-rewards/p3

mika_dm

It may take up to 28 days to appear in you app at rewards(pending for possible refunds or stuff like that).