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

flaneurs_lobster

Good try! It's only one digital saver per current account holder, not per current account. Not even allowed joint accounts.

Bridlington1

flaneurs_lobster said:

Good try! It's only one digital saver per current account holder, not per current account. Not even allowed joint accounts.

Perhaps my post could've been a bit clearer. When I used regular savers in the plural I was referring to one Natwest regular saver and one RBS regular saver (since the Ts&Cs seem to be identical). I wasn't suggesting you could open multiple regular savers. All I was saying is that you could open multiple current accounts, then do 99 debit card payments per day from each current account into the same regular saver in order to fill the regular savers a lot quicker. 

phillw

Bridlington1 said:
All I was saying is that you could open multiple current accounts, then do 99 debit card payments per day from each current account into the same regular saver in order to fill the regular savers a lot quicker. 

You can only hold a maximum of 1 Reward account in your name, and 1 joint names.

I'm not convinced that even with more than 1 that it will do what you want.

Bridlington1

phillw said:

Bridlington1 said:
All I was saying is that you could open multiple current accounts, then do 99 debit card payments per day from each current account into the same regular saver in order to fill the regular savers a lot quicker. 

You can only hold a maximum of 1 Reward account in your name, and 1 joint names.

I'm not convinced that even with more than 1 that it will do what you want.

I am aware of this. I was referring to opening multiple select accounts, which doesn't seem to have this limit.

Bridlington1 said:

Why did it never occur to me before! If I'm not mistaken the 99 debit card payments limit is per current account, so you could open multiple Natwest/RBS current accounts and do 99 debit card payments from each account to fill the regular savers much quicker.

This now begs the question how many select accounts will Natwest/RBS let you open in a short space of time? I suppose this method also has the added advantage of leaving you with a string of donor accounts ripe for switching once the regular savers are filled.

Nowhere did I mention opening multiple reward accounts.

changearound1

An ingenious plan but it would involve a lot of effort for very little gain.

Even with the 99 limit, with Double Round Ups you can add £196.02 per day to your DRS meaning you can fill it within a month even if you're starting from scratch if you really want to.

By the time you have set up the new accounts and received your extra debit cards the DRS will already be nearly full.

silvercar

Nothing like staying under the radar!

OceanSound

Bridlington1 said:

Why did it never occur to me before! If I'm not mistaken the 99 debit card payments limit is per current account, so you could open multiple Natwest/RBS current accounts and do 99 debit card payments from each account to fill the regular savers much quicker.

This now begs the question how many select accounts will Natwest/RBS let you open in a short space of time? I suppose this method also has the added advantage of leaving you with a string of donor accounts ripe for switching once the regular savers are filled.

It's a good idea. Let's talk practicalities. See below.

Bridlington1 said:

phillw said:

Bridlington1 said:
All I was saying is that you could open multiple current accounts, then do 99 debit card payments per day from each current account into the same regular saver in order to fill the regular savers a lot quicker. 

You can only hold a maximum of 1 Reward account in your name, and 1 joint names.

I'm not convinced that even with more than 1 that it will do what you want.

I am aware of this. I was referring to opening multiple select accounts, which doesn't seem to have this limit.

Let's assume there is no limit. Indeed, I've not seen anywhere that there is a limit as such to the number of select accounts. I've checked the screenshots of when I opened the digital regular saver and appears that I had logged in to online banking then gone through the 'savings range' and selected 'Digital Regular Saver' then after looking at the details clicked 'apply now'. Then it's asked me to confirm personal details and asked me to setup the regular transfer. 

There it's showing my reward current account (I didn't have to enter it), and there is an option to select how often the transfer is to happen. I've selected or kept it at 'Monthly', amount is entered as £50.00 (as that was the maximum when I opened the account), then entered the first transfer date. Since I made the application on the 5th of February the date has been automatically filled in as 11 February 2022 for the first transfer. 

The next screen shows 'You're almost there' with the amount, and the current account details of the standing order (including sort code and account number), there is an option to 'edit my standing order'. Could this be where we can do 'edit' and enter a different current (select) account number?, Even if it is, that's just going to be in relation to the standing order. The round-ups are tied to the current account in the background. I've not seen an option to link a particular current account to the digital regular saver account for round ups. Maybe the option didn't come up because I only have one current account, so the process selected that (current) account automatically. 

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.

Bridlington1

OceanSound said:

Bridlington1 said:

Why did it never occur to me before! If I'm not mistaken the 99 debit card payments limit is per current account, so you could open multiple Natwest/RBS current accounts and do 99 debit card payments from each account to fill the regular savers much quicker.

This now begs the question how many select accounts will Natwest/RBS let you open in a short space of time? I suppose this method also has the added advantage of leaving you with a string of donor accounts ripe for switching once the regular savers are filled.

It's a good idea. Let's talk practicalities. See below.

Bridlington1 said:

phillw said:

Bridlington1 said:
All I was saying is that you could open multiple current accounts, then do 99 debit card payments per day from each current account into the same regular saver in order to fill the regular savers a lot quicker. 

You can only hold a maximum of 1 Reward account in your name, and 1 joint names.

I'm not convinced that even with more than 1 that it will do what you want.

I am aware of this. I was referring to opening multiple select accounts, which doesn't seem to have this limit.

Let's assume there is no limit. Indeed, I've not seen anywhere that there is a limit as such to the number of select accounts. I've checked the screenshots of when I opened the digital regular saver and appears that I had logged in to online banking then gone through the 'savings range' and selected 'Digital Regular Saver' then after looking at the details clicked 'apply now'. Then it's asked me to confirm personal details and asked me to setup the regular transfer. 

There it's showing my reward current account (I didn't have to enter it), and there is an option to select how often the transfer is to happen. I've selected or kept it at 'Monthly', amount is entered as £50.00 (as that was the maximum when I opened the account), then entered the first transfer date. Since I made the application on the 5th of February the date has been automatically filled in as 11 February 2022 for the first transfer. 

The next screen shows 'You're almost there' with the amount, and the current account details of the standing order (including sort code and account number), there is an option to 'edit my standing order'. Could this be where we can do 'edit' and enter a different current (select) account number?, Even if it is, that's just going to be in relation to the standing order. The round-ups are tied to the current account in the background. I've not seen an option to link a particular current account to the digital regular saver account for round ups. Maybe the option didn't come up because I only have one current account, so the process selected that (current) account automatically. 

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.

I applied for a second Natwest and RBS current account yesterday and they both say they'll be up and running by Tuesday. I probably won't get chance to do as many as 198 debit card payments in a single day for another week or two but shall update this thread with results.

At the moment I'm just opening current accounts so that I can link them up to YouGov finance for 500 YouGov points (£5 worth) per account, which can be re-linked every 90 days so the more accounts I can open, the more money I will be able to get out of YouGov. I've had £50 out of them already this week. This is why this idea came to me.

Southcoast01

I wonder who will be the first person to reach the £5000 limit from all the multiple roundups?

it won’t be me though as after 5 transactions each day to ns&i it keeps asking to verify each transaction on the app, so I stop.

MrFrugalFever

Southcoast01 said:

I wonder who will be the first person to reach the £5000 limit from all the multiple roundups?

it won’t be me though as after 5 transactions each day to ns&i it keeps asking to verify each transaction on the app, so I stop.

I keep getting verify device….it’s very annoying!