Some cite the switching process and others point out that the bank charges a small fee (compared to other banks). The only exceptions are ISAs and saving accounts– NatWest does not switch them through its Current Account Switch Service.Ĭustomers that are satisfied with their NatWest Reward account say they like what the bank has to offer. You can also choose when you want the bank to start the process – all you’ll need to do is provide NatWest with the details of your old account. NatWest has a Current Account Switch Service that can move everything from your old bank account to your new account within a week, including standing orders and Direct Debits. How Can You Switch To a Rewards Account at NatWest?
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Worth noting: A Chase current account also offers 1% cashback and is completely free of charge. There are no other costs related to having a debit Reward current account (except that you’ll have to pay at least £1.250 monthly), but you will be subject to an APR charge (the representative APR is 39.49%) if you want to earn cashback with a credit card. PricingĪ NatWest Reward account charges a £2 fee per month. Once you turn the feature on, NatWest will round up the amount of your purchase to the nearest pound and send the spare to your savings account. Mobile banking appĬustomers with a current and/or savings account can take advantage of NatWest’s Rounds Up feature that helps them save a few pounds when they pay with their debit card. The Santander 123 current account, on the other hand, allows you to withdraw £300 within 24 hours. However, they will need to have at least £10 available on your account to withdraw money from their account. That means they don’t always have to have their NatWest credit or debit card on them to get cash in emergencies.
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NatWest customers can withdraw cash from the bank’s ATM using their 6-digit code (generated through the NatWest mobile app) and take out up to £130 every 24 hours. This is a great feature considering that 73% of UK consumers prefer to shop through mobile devices-this way you can store all your loyalty cards on your phone and earn instant points. NatWest has a feature that allows individuals with a Reward account to scan and store all loyalty cards from NatWest’s partner retailers in the NatWest app and use the electronic form in shops to collect points.
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Worth noting: With Club Lloyds you can get up to 15% cashback at selected retailers, plus you won’t have to pay a fee if you deposit £1,500 each month. In other words, if you shop at one of NatWest’s partners, you can get 1% back in rewards and then either withdraw it as cash, donate it, or trade it up for gift vouchers. Worth noting: It takes 5 working days for NatWest to clear the banked rewards from your account.Ĭustomers with a NatWest cashback account can earn cashback on their purchases from certain retailers. Once you have at least £5 in Rewards, you can withdraw them as cashback, trade the money for e-codes or gift cards with the bank’s retailer partners, or donate the money to charity.
You’ll earn an extra £1 a month if you log into the mobile app.
Balance on debit cards: You can earn up to £4 a month for having two or more direct debits on your account, which need to be at least £2 each.
So, if you have a Rewards account, you can earn NatWest cash back in your current account in two main ways: NatWest is one of the UK banks that gives you money for opening an account. Much like the best cashback apps and sites, NatWest Reward accounts allow customers to earn rewards in the form of cashback or vouchers for well-known high-street NatWest retailers in return for a £2 monthly fee.Įven though this was not standard practice with traditional banking institutions, the growing presence of challenger banks has caused high-street banks to introduce innovative solutions to attract new customers. A NatWest Reward account is one of the many financial services offered by NatWest, a UK bank whose history dates back to 1968.
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