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RBS Stopping £1 monthly cashback for mobile app login
Comments
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The same applies to NatWest Premier Reward account too. I will keep an eye out for an email to advise but the NatWest T&C (from 1st Oct 2026) have been updated.
I currently earn £10 a month, less a £2 fee (£9 per month for 2 direct debits and £1 for logging into the NatWest app). I also have a NatWest Reward Credit Card. No reason for me to change the current account at the moment.
New MyRewards terms for the Premier Reward current account:
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Or £7 month 2, £5 month 3
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Yeah, £10 down to £9 feels a bit 'penny pinching', rather like that old story of when BA removed one olive from their in flight meals…
But I guess it shows they have achieved their target usage of the app, so no need to incentivise it any more.
I was actually more annoyed when they cut the Avios conversion rate. Oh well…2 -
I got the email too. I see a positive of the changes is that you can use the bank card abroad fee free.
"Spend abroad without foreign transaction fees. When you use your Reward or Premier Reward debit card to buy things abroad or to make a payment in a foreign currency, we won’t charge you a foreign transaction fee anymore. This is in place already, and we’ll update your terms from 1st October to reflect this. (Excludes cash withdrawals, and other providers overseas may charge a fee.) "
Not all doom and gloom.
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Rather get the cashback and also no fees from cards like Lloyds Ultra
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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Already have the NatWest Travel Reward CC, so no benefit for me there really as I would use CC over DC as not spending my money (for now) then
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Forex free spending abroad fees lets Natwest/RBS compete better with the like of Monzo - that was formally one of their USPs along with neon debit cards.
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Yeah, but I already have FX free debit card spending availabilty with Monzo, Starling, Chase and First Direct, so, for me personally, not a biggy. Others, of course, may not have as many current accounts as I :)
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They've also excluded foreign atm cash withdrawal fees from being free unlike first direct, starling etc
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Effective 1st October yet no sign of the £1 for September. Anyone else?
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