Natwest Round Up

Daliah

draiggoch said:

RogerBareford said:

draiggoch said:

It wouldn't be a factor in my choosing a bank account but it is a nice little tool to have in the background to add a little to savings without really noticing it.

Anyone who gets any benefit out of this type of tool really needs to get a grip on their spending. The only way this would work is if your the type of person to spend every penny you have just because it's there and it will work as it takes away some of that money.

If someone had a proper budget for spending and then regularly re-evaluated that budget and each month put any leftover into savings it would result in saving more.

Since the round up can be  added to the digital saver without being included in the monthly £50 limit then I have to say I disagree with your comment. I have money going every month to various savings including S+S ISA and SIPPs, the round up is as mentioned previously a nice little add on.

Adding to the Digital Saver is a nice touch but it will only make pennies of difference. Anything "save the pennies" doesn't really make people savers, regardless of how popular it might be. 

You would make a lot more money if you did your spending with Chase, as they pay you (for a year) 1% cashback on a large range of spending, and if you must, they have a Round-up / save-the-pennies account with a 5% AER rate. The money made from the Round-up disappears into insignificance compared with the cashback