Best time to join NatWest MyRewards?

poshrule_uk

Hi

My wife has switched an account to NatWest and we are going to convert the account to a MyRewards account.

Her two DD are due to go out beginning of June. Is she best to convert the account now Or should we wait until next month? Also when is the £2 fee taken? Will it be one month after the account is opened?

Nasqueron

The fee is 21 days after the first statement date, my date is the 10th so as the fee is always 21 days after, that means either the 31st or 1st for most months + an extra day(s) if it falls on the weekend - it would be taken on the Monday after in that case

You should convert really at the start of the month as you don't get the DD qualification until they pay out (more than the minimum) so you'd only get the £1 for app login, after that it's immaterial as long as you meet the criteria and have the DDs every month.

As I said, mine is the 10th, I normally can redeem the rewards around the 9-10th (click through the app to the exchange rewards page and you can sometimes collect it if it's ready even if not shown in the app yet).

Bonus tip - you can pay the £5 into the regular saver on top of the £150

phillw

If you can operate the account already then I would do it now, set up a paypal DD and money box DD on the account.

Add at least £2 to money box and send at least £2 to you using the DD

If you wait until next month and the DD go out before the account is converted, then I am not sure that they would count