Natwest digital regular saver - what to do after saving £1000

pecunianonolet

I use Paypal App and Friends and Family and send 99 x 1p to my partner to round up. Only annoyance is that Paypal takes time to actually clear the direct debit. The idea with a second current account is interesting and once we have confirmation it works I am on that.

What I am interested in is the YouGov way of making extra money. @Bridlington1 would you be able to explain how long it takes for them to pay out? Are you not concerned that a lot of personal data is shared? Not sure if I want to link all my accounts, credit cards and saving accounts and maybe only go with dummy accounts. 

Bridlington1

pecunianonolet said:

What I am interested in is the YouGov way of making extra money. @Bridlington1 would you be able to explain how long it takes for them to pay out? Are you not concerned that a lot of personal data is shared? Not sure if I want to link all my accounts, credit cards and saving accounts and maybe only go with dummy accounts. 

Essentially you open a YouGov account, then you sign into YouGov finance with those details. YouGov finance will then give you 500 YouGov points for each current account/credit card and 100 YouGov points for each savings account you link to them using open banking. 5000 YouGov points can be redeemed for £50 which can be paid into your bank account so it's effectively £5 per current account/credit card and £1 per savings account.  I've found points appear within a day normally and once redeemed the money arrived in your bank account within a couple of days.

YouGov then analyse your data. The whole point is to analyse consumer behaviour, so shopping patterns and that sort of thing for marketing purposes and is meant to compliment the YouGov surveys that people do. I personally do not link my main accounts, but do link the others and credit cards. 

The one thing you will need to watch out for is that they will only give points for accounts deemed as "active accounts". The word active gets defined as "Active accounts are your open GBP account(s) with regular bank transactions"and they do not tell you how regular they want the regular transactions to be. They gave me the points for 7 of the 10 current accounts I tried linking last week however so I imagine it's fairly broad.

One of the advantages of this scheme though is that the accounts are only linked for 90 days before the connection expires. Once the connection has expired you can then relink the accounts to get the points again.

I only discovered this scheme last week so am still unsure as to how many accounts they will give you points for. As a result I am opening extra current accounts, then bouncing money through them for about 3-4 weeks in an attempt to make the accounts appear "active".  I opened another 5 current accounts (Lloyds, Halifax, Bank of Scotland, RBS & Natwest) the other day and shall gradually keep opening more for the time being. I've had £50 out of them so far so either way it will be worth at least £200/yr to me.

I shall then link them en masse (probably by the end of the month) so shall update you with results. 

For details see:
https://yougov.zendesk.com/hc/en-gb/sections/4413107645841-YouGov-Finance

k_man

OceanSound said:

I may try and open another natwest current account and see what happens. FOr now, I'll probably go with splitting 1/2 and 1/2 between natwest and rbs. I can only save £5000 right now, so it's not particularly pressing for a second (or third) current account at Natwest, but I may need to save more than that later, so it'll be good to plan ahead.

Not sure if you have one already, but a Barclays Rainy Day is a much easier option, for £5000

Nebulous2

I switched my NatWest account to First Direct. Before I did I emptied the regular saver - but I've just realised I left the Standing Order running. First direct has paid £10 into my NatWest regular saver (2 x £5) As far as I can see the interest is still accruing, but I presume I'll have an issue getting the money out, now I no longer have a NatWest current account...... 

Bridlington1

Nebulous2 said:

I switched my NatWest account to First Direct. Before I did I emptied the regular saver - but I've just realised I left the Standing Order running. First direct has paid £10 into my NatWest regular saver (2 x £5) As far as I can see the interest is still accruing, but I presume I'll have an issue getting the money out, now I no longer have a NatWest current account...... 

You can always open another Natwest current account to get the money out that way. Alternatively I imagine they'd let you take the money out in branch, though it could be a pain.

Slinky

Bridlington1 said:

pecunianonolet said:

What I am interested in is the YouGov way of making extra money. @Bridlington1 would you be able to explain how long it takes for them to pay out? Are you not concerned that a lot of personal data is shared? Not sure if I want to link all my accounts, credit cards and saving accounts and maybe only go with dummy accounts. 

. 

For details see:
https://yougov.zendesk.com/hc/en-gb/sections/4413107645841-YouGov-Finance

On the link it says that access to YouGov Finance is by invitation only, is that still the case?

CuriousGirl

Bridlington1 said:

silvercar said:

Nothing like staying under the radar!

I'm already known as the gremlin at TSB for sending their technical systems into a funk and getting 1p stuck in one of their savings pots, have Lloyds pestering me to try their personal wealth managers every time I log in despite not earning enough to even pay income tax (though I am flattered) and am expecting one heck of an NS&I statement this year after making a few thousand debit card payments into it (max deposit £1.01). This is nothing compared to what I already do.

What NS&I product do you use? is that their Direct Saver ? 

pecunianonolet

Bridlington1 said:

pecunianonolet said:

What I am interested in is the YouGov way of making extra money. @Bridlington1 would you be able to explain how long it takes for them to pay out? Are you not concerned that a lot of personal data is shared? Not sure if I want to link all my accounts, credit cards and saving accounts and maybe only go with dummy accounts. 

Essentially you open a YouGov account, then you sign into YouGov finance with those details. YouGov finance will then give you 500 YouGov points for each current account/credit card and 100 YouGov points for each savings account you link to them using open banking. 5000 YouGov points can be redeemed for £50 which can be paid into your bank account so it's effectively £5 per current account/credit card and £1 per savings account.  I've found points appear within a day normally and once redeemed the money arrived in your bank account within a couple of days.

YouGov then analyse your data. The whole point is to analyse consumer behaviour, so shopping patterns and that sort of thing for marketing purposes and is meant to compliment the YouGov surveys that people do. I personally do not link my main accounts, but do link the others and credit cards. 

The one thing you will need to watch out for is that they will only give points for accounts deemed as "active accounts". The word active gets defined as "Active accounts are your open GBP account(s) with regular bank transactions"and they do not tell you how regular they want the regular transactions to be. They gave me the points for 7 of the 10 current accounts I tried linking last week however so I imagine it's fairly broad.

One of the advantages of this scheme though is that the accounts are only linked for 90 days before the connection expires. Once the connection has expired you can then relink the accounts to get the points again.

I only discovered this scheme last week so am still unsure as to how many accounts they will give you points for. As a result I am opening extra current accounts, then bouncing money through them for about 3-4 weeks in an attempt to make the accounts appear "active".  I opened another 5 current accounts (Lloyds, Halifax, Bank of Scotland, RBS & Natwest) the other day and shall gradually keep opening more for the time being. I've had £50 out of them so far so either way it will be worth at least £200/yr to me.

I shall then link them en masse (probably by the end of the month) so shall update you with results. 

For details see:
https://yougov.zendesk.com/hc/en-gb/sections/4413107645841-YouGov-Finance

As interesting and tempting this might sound I am not sure if I want to share all my data with them, even only for some dummy accounts and credit cards, and opening a lot of new current accounts might impact my credit rating. It also takes future opportunities away for switching bonuses when you literally have a current account with every institution out there, plus the effort of bouncing money around. On the other side, £200/yr is a lot and takes time and a high pot to make this with stoozing alone. 

Do you know if you can link your account, get the money and withdraw permission of data usage after that?

CuriousGirl

Band7 said:

Slinky said:

Bridlington1 said:

pecunianonolet said:

What I am interested in is the YouGov way of making extra money. @Bridlington1 would you be able to explain how long it takes for them to pay out? Are you not concerned that a lot of personal data is shared? Not sure if I want to link all my accounts, credit cards and saving accounts and maybe only go with dummy accounts. 

. 

For details see:
https://yougov.zendesk.com/hc/en-gb/sections/4413107645841-YouGov-Finance

On the link it says that access to YouGov Finance is by invitation only, is that still the case?

There's no mention of any points or rewards if you log into YouGov Finance, so either you need to be invited or the promo is over.

It is still there, you need to click on What will I earn ?

Bridlington1

Slinky said:

Bridlington1 said:

pecunianonolet said:

What I am interested in is the YouGov way of making extra money. @Bridlington1 would you be able to explain how long it takes for them to pay out? Are you not concerned that a lot of personal data is shared? Not sure if I want to link all my accounts, credit cards and saving accounts and maybe only go with dummy accounts. 

. 

For details see:
https://yougov.zendesk.com/hc/en-gb/sections/4413107645841-YouGov-Finance

On the link it says that access to YouGov Finance is by invitation only, is that still the case?

I'm not sure really. I hadn't used YouGov or even logged into the email account it is linked to for months. When I discovered that YouGov finance would pay you to link accounts to them I signed into YouGov finance using my YouGov details and was able to link accounts up and get paid alright. I had received over 100 emails from YouGov since I'd last used it so there may well have been an email or something inviting me to use YouGov finance but I couldn't be bothered to open all those emails, just marked as read and deleted. Nothing popped up about it when I logged into YouGov though.

pecunianonolet said:

Bridlington1 said:

pecunianonolet said:

What I am interested in is the YouGov way of making extra money. @Bridlington1 would you be able to explain how long it takes for them to pay out? Are you not concerned that a lot of personal data is shared? Not sure if I want to link all my accounts, credit cards and saving accounts and maybe only go with dummy accounts. 

Essentially you open a YouGov account, then you sign into YouGov finance with those details. YouGov finance will then give you 500 YouGov points for each current account/credit card and 100 YouGov points for each savings account you link to them using open banking. 5000 YouGov points can be redeemed for £50 which can be paid into your bank account so it's effectively £5 per current account/credit card and £1 per savings account.  I've found points appear within a day normally and once redeemed the money arrived in your bank account within a couple of days.

YouGov then analyse your data. The whole point is to analyse consumer behaviour, so shopping patterns and that sort of thing for marketing purposes and is meant to compliment the YouGov surveys that people do. I personally do not link my main accounts, but do link the others and credit cards. 

The one thing you will need to watch out for is that they will only give points for accounts deemed as "active accounts". The word active gets defined as "Active accounts are your open GBP account(s) with regular bank transactions"and they do not tell you how regular they want the regular transactions to be. They gave me the points for 7 of the 10 current accounts I tried linking last week however so I imagine it's fairly broad.

One of the advantages of this scheme though is that the accounts are only linked for 90 days before the connection expires. Once the connection has expired you can then relink the accounts to get the points again.

I only discovered this scheme last week so am still unsure as to how many accounts they will give you points for. As a result I am opening extra current accounts, then bouncing money through them for about 3-4 weeks in an attempt to make the accounts appear "active".  I opened another 5 current accounts (Lloyds, Halifax, Bank of Scotland, RBS & Natwest) the other day and shall gradually keep opening more for the time being. I've had £50 out of them so far so either way it will be worth at least £200/yr to me.

I shall then link them en masse (probably by the end of the month) so shall update you with results. 

For details see:
https://yougov.zendesk.com/hc/en-gb/sections/4413107645841-YouGov-Finance

As interesting and tempting this might sound I am not sure if I want to share all my data with them, even only for some dummy accounts and credit cards, and opening a lot of new current accounts might impact my credit rating. It also takes future opportunities away for switching bonuses when you literally have a current account with every institution out there, plus the effort of bouncing money around. On the other side, £200/yr is a lot and takes time and a high pot to make this with stoozing alone. 

Do you know if you can link your account, get the money and withdraw permission of data usage after that?

You could open several accounts with banks you already have accounts with. I've got 5 with Halifax alone. LBG only do a hard search on the first current account you open with them. Even then hard searches drop off your credit report after 6-12 months anyway and I've had 14-17 current accounts consistently for months (now on 21) and found it has little impact.

As for switching offers, the only ones I've seen that exclude existing customers are Virgin and Co-op and Co-op can't be linked anyway, so you shouldn't have too many issues as far as switching goes.

In answer to your final question, yes you can de-link the accounts once they've paid up, then relink 90 days later to get the points again if you wish.