NatWest reward account - how quickly can I take the 1250 payment out?

goatfaced

Can any NatWest rewards regulars in here answer a question? You have to pay in 1250 a month to qualify for rewards, but does it have to stay in for 24 hours like it does when doing their switch bonus, or can it go out again same day? 

Middle_of_the_Road

goatfaced said:

Can any NatWest rewards regulars in here answer a question? You have to pay in 1250 a month to qualify for rewards, but does it have to stay in for 24 hours like it does when doing their switch bonus, or can it go out again same day? 

I pay in between £3-4 k on the first of the month, and it's all paid out to regular savers within an hour. The balance usually remains at under £100, and never had a problem qualifying for rewards.

HillStreetBlues

I transfer mine from Chase as soon as it's sent I log on to Natwest and send it back to Chase, so for me about a minute (I do £750 a day over two days)

Bridlington1

goatfaced said:

Can any NatWest rewards regulars in here answer a question? You have to pay in 1250 a month to qualify for rewards, but does it have to stay in for 24 hours like it does when doing their switch bonus, or can it go out again same day? 

Mine's in and out within minutes, the same goes for the other reward accounts I've had.

surreysaver

Depends how quickly you can log in and make the payment. Unless you're trying it about 2am, when NatWest do their overnight stuff 

goatfaced

Haha thanks. I meant will they still give me the reward if I don't leave it in for 24 hours 😁 replies suggest it's fine, so it's better back in my edge saver.

Bridlington1

goatfaced said:

Haha thanks. I meant will they still give me the reward if I don't leave it in for 24 hours 😁 replies suggest it's fine, so it's better back in my edge saver.

They've been giving me the reward for over 3 years and I've never kept the money in the current account for long so you should be fine.

PRAISETHESUN

The switch incentive is completely different to the on-going rewards and the terms of one don't affect the other. As above, there's no minimum time needed to keep the money in the account to be eligible for the rewards. I've got my payments in/out automated by standing order on the same day, so the money is only in the account for a few hours at most.

keiran

Could knowledgeable MSE members confirm the funding requirement for the NatWest and RBS Reward accounts?

If I hold two Reward accounts with both NatWest and RBS, will depositing £1,250 into just one account per bank (i.e., one NatWest account and one RBS account) meet the funding criteria for the £4 monthly reward on both accounts with that bank?

In other words, do I need to deposit £1,250 into each individual account, or is a single £1,250 deposit per bank (NatWest and RBS) sufficient for the reward payments across both accounts?

I believe I read previously that a single deposit per bank is acceptable, but I want to confirm before I change my standing orders

surreysaver

Into each account separately. I can't remember if the £1250 has to come from a non-RBS/NatWest account, as my deposit goes via a different bank 

ThePirates

My current merry-go-round sends £2520 into Lloyds, then the same into Halifax 1, leave £500, the rest to NatWest, leave £10, the rest to Halifax 2, leave £500, the rest to RBS, leave £10, send the rest to Halifax 3, leave £500, transfer the rest back to my Santander Edge Saver. 
The £10 in NatWest & RBS pay the £2 fee and weekly £2 DDs to Moneybox and Plum giving me £10 a month in rewards.
The £500 left in each Halifax account is paid via Debit Card to Skipton, Yorkshire and Family Building Societies giving me £15 a month in rewards.
Lloyds give me Disney+
10 minutes work each month!