NatWest Digital Reg Saver

TC1

A tad unsure with NWest Digital Reg Saver…….
Can I deposit £5000 on opening account and get the 6% then save up to £150 a month and get 1% on anything over the £5000 or am I just supposed to be just saving up to £150 a month and take years to get to the £5000…..? 

Newbie_John

No. 

Step by step only.

TC1

Thanks for your reply 🙂

WillPS

The only exception is debit card round ups - which do not count toward the £150 limit. You can set these to double up too - so a transaction ending in .01 will yield £1.98 in your Digital Regular Saver.

I can't be bothered with it but there are people who have maxed out their accounts by making thousands of £1.01 NS&I deposits.

Bridlington1

Though I would be weary of doing too many £1.01 NS&I deposits. I can't imagine Natwest/RBS will be the biggest fan of this and you wouldn't want to end up barred from the Natwest group.

WillPS

Bridlington1 said:

Though I would be weary of doing too many £1.01 NS&I deposits. I can't imagine Natwest/RBS will be the biggest fan of this and you wouldn't want to end up barred from the Natwest group.

Not so sure, worth remembering that Natwest Group will earn a (tiny) bit when you use your debit card - that's not to say it definitively is OK but I think it's less cut and dry than opening large numbers of accounts all at once then using them to CASS out.

It's certainly a massive faff though.

Bridlington1

WillPS said:

Bridlington1 said:

Though I would be weary of doing too many £1.01 NS&I deposits. I can't imagine Natwest/RBS will be the biggest fan of this and you wouldn't want to end up barred from the Natwest group.

Not so sure, worth remembering that Natwest Group will earn a (tiny) bit when you use your debit card - that's not to say it definitively is OK but I think it's less cut and dry than opening large numbers of accounts all at once then using them to CASS out.

It's certainly a massive faff though.

Though they'll also have to pay a tiny bit more interest on the funds that are rounded up so I suspect they'd be worse off from you doing loads of £1.01 NS&I deposits. I'd agree though that opening large numbers of accounts and CASSing them out would likely annoy them more.