Understand the cost and impact of overdrafts and whether you're eligible to apply for one. And what we expect from you in return. You can earn even more cashback with the Reward Bank Account from NatWest and Royal Bank of Scotland. You can earn up to £60 a year (before the Reward monthly fee is paid) as well as at least 1% on what you spend at participating retailers. Whether you're new to saving, or more of an expert, our Savings Hub is designed to help you find the savings account that best suits your needs. If you have a Reward current account, logging into the app every month gives you £1 back in Rewards per month. See your MyRewards straight from the app with the touch of a button. This is because RBS pays Reward account customers £4 a … Use our handy cost calculator. An overdraft is a form of borrowing and is repayable on demand. A Reward Current account itself charges an annual fee of £24, but offers 2% cashback on a range … NatWest and Royal Bank of Scotland (RBS) Reward customers will soon no longer earn cashback for paying their household bills. If you don’t, you may want to consider its RBS sister, the RBS Reward credit card, that offers similar rewards for a much cheaper annual fee. Plus, earn an extra £1 a month back in Rewards with 1 mobile app log in. So have these ready. I cannot find any mention of a minimum time that this has to remain in the account. App available to customers aged 11+ using compatible IOS and Android devices and a UK or international mobile number in specific countries. We can not switch savings accounts or ISAs through this service. Not sure a Reward account is for you? Have your setup your MyRewards account yet? Log in to Digital banking and download our mobile app to bank on the go. 1. An arranged overdraft can be useful for short term borrowing. The RBS Reward Credit Card features one bonus category which is supermarket spending. Plus all the features of our everyday bank account too. No two individual. Otherwise, we may convert your Reward account to a Select account. Please take some time to review, print and/or save the important information. Get Rewards that you can redeem as cashback. If you log in to Digital Banking we can pre-fill some of the application for you. Representative Example: Effective Annual Rate: 39.49% EAR (variable). They'll only take a minute. Once  you reach £5 in Rewards, the choice is yours. You can check if you're likely to be accepted for an overdraft using our eligibility tool. Monthly fee starting from £2. Therefore the weekly direct debits to things like Post Office or Moneybox qualify for rewards. Platinum. Photo ID, such as driving licence, Passport or EU ID card, Proof of your address, such as a utility bill, bank statement or driving licence, Photo ID, such as Drivers Licence, Passport or EU ID card, Proof of your address, such as utility bill or bank statement, The account number and sort code of the account you want to change, The account number, sort code and debit card number of the bank account you want to switch to Royal Bank, The account number and sort code of your existing Royal Bank current account, Photo ID, such as Drivers licence, Passport or EU ID card, Proof of your address, such as a utility bill or bank statement. To view and use your account benefits visit: Rewards are easy to earn. T&C’s apply. You must be over 18 and a UK resident. You might be able to do this online, look out for an email from us. Look out for your new debit card in the post. That's up to £5 a month back in Rewards to spend on whatever you like! Get mobile phone insurance, European travel insurance, discounted cinema tickets and more. We could help, We're here to support you through all your life journeys, will pay in £1,250 each calendar month to any. The Reward Platinum account itself is a good value account and i use a number of the benefits. Then we can make your application as quick and simple as it can be. Help with registering for digital banking. Instead, they’ll both offer the following: £4 a month for having two Direct Debits worth at least £2 a month each. With the Reward account, you’ll get £4 a month back so long as you have two or more Direct Debits, with a further £1 back so long as you log into the mobile app at least once a month. As soon as your available Rewards balance is the equivalent of £5 or more, you can convert your Rewards to money, which you can either transfer into your Royal Bank of Scotland bank account or use towards reducing your credit card balance. Before you apply, we need to check you're happy with a few things. Limits apply. Your Rewards balance can grow quickly, they're easy to earn and they're easy to exchange! From taking cash out abroad to an unarranged overdraft. Also, if you go into your overdraft, you’ll be hit with a £6 monthly fee on top of interest at 18.28%. Representative APR: 39.49% APR (variable). Earn £4 a month back in Rewards for 2 or more Direct Debits (2 of those Direct Debits needs to be at least £2 each). There's no need to use a password anymore. As I was upgrading my RBS account - before giving the final ok to the terms - one of them stated something like "I understand I can only have up to two Reward accounts" - something like that. Every month, earn £4 back in Rewards for paying 2 or more Direct Debits from your reward account – 2 of those Direct Debits need to be at least £2 each. Earn 1% in Rewards on your supermarket spend, between 1-15% in Rewards at selected MyRewards retailers and 0.25% everywhere else you shop. Every month, get £4 back in Rewards every when you pay 2 or more Direct Debits  from your reward account (2 of those Direct Debits need to be at least £2 each), £1 back in Rewards when you log into our mobile banking app and at least 1% back in Rewards when you spend at our partner retailers. So I'm a little confused. Keep in mind, if you choose to bank your Rewards it will take 5 working days to clear. There's no limit to the amount of bonus cash back you can earn spending at supermarkets and no limit to the amount of cash back you can earn with the card overall. The changes will affect new and existing Reward customers at the two sister banks from Monday 26 June. You'll need to provide proof of your ID and address. Our partner HooYu will then check your identity by matching you to your Photo ID. NatWest and Royal Bank of Scotland (RBS) have also introduced a hefty minimum monthly pay-in of £1,500 for new customers – existing customers who had an account before 26 June won't be affected by this. Individual account eligibility criteria and conditions may apply. For example, who regulates us and how to complain (hopefully you won't need that bit). RBS is offering £100 to new and existing customers who switch to its Select, Reward or Premier current accounts – the second big bank switching bribe to launch in recent weeks RBS launches £100 switching offer for new and existing customers We could help, We're here to support you through all your life journeys. Just log into the app and within the ‘MyRewards’ section at the bottom of your screen, select ‘Exchange Rewards’. Three different bank accounts packed with benefits to choose from. We've just added Digital Regular Saver to our range of savings accounts. Reward Account eligibility (for accounts opened on or after 26th June 2017). To apply, you must hold a current account, savings account, credit card or mortgage with Royal Bank of Scotland, be a UK resident, aged 18+ and earning at least £10K per year. Depending on what ID we need to see, we may ask you for: Look out for an email and text after you have applied from our security partners, DigiDocs. Important basic info about the bank. If you signed up for Cashback Plus before 12th October 2015, you are currently earning at least 1% Rewards at our Partner retailers and in personalised offers. There has to be a minimum pay in of £1250 to a "qualifying account" which can … Very important information about how your money is protected. How much our charges will be. To be eligible for a MyRewards account you must have one of our Reward current accounts range and/or a Reward credit card. A week ago, I got an email saying my application had been refused, and about an hour ago got another email saying my switch is going ahead! The Current Account Switch Service will do all the work when it comes to switching, moving everything across from your old account all within 7 working days, including Direct Debits and standing orders. Just to make life easier for you. Effective from 1st February 2020, you could earn Rewards if you have one of the following RBS current accounts or cards: If you hold a Reward current account. NatWest/RBS Reward. Just in case. What are you waiting for? Sky TV Reward Offer. And ask you a few questions up front. It's important for you to understand how we use and share your information. The Reward accounts currently pay 2% cashback on seven types of household bills. If you want to learn more about our different types of Reward accounts, we can help. You can redeem it as cash back, trade up for gift cards and e-codes with our retail partners, or donate to one of our chosen charities. To speed up your application for our Reward account, we need to do a few final checks with you. Benefits by account type. Discover your world of benefits online. You'll need your Royal Bank debit card number on hand. NatWest and Royal Bank of Scotland (RBS) have launched a new current account, allowing you to earn 3% cashback on seven different household bills paid by direct debit. They reimbursed me until the hotel cancelled the preauthorisation. You'll start earning Rewards as soon as you have a Reward account. About a month ago, before all this coronovirus business, I applied for a RBS Reward Account and to switch a BOS account to it. Your application will be completely online, and you won't need to post us any information or visit a branch. To login, you first need to set-up your MyRewards account. Please read this short summary before you continue with your application. This account offers an Overdraft facility (subject to eligibility). Earn 1% back in Rewards with our Partner Retailers. Earn at least 1% back in Rewards when you spend using your Royal Bank of Scotland Visa Debit card at one of our partner retailers. Alternatively, you can register your MyRewards account with your active RBS Reward account debit card or your active Reward credit card, which will allow you to access your MyReward account via Digital banking or a web browser. Exchange your Rewards in to a donation supporting one of our many chosen charities. T&C’s apply. If you don't repay what is owed, you could harm your credit score and borrowing capability. App available to customers aged 11+ with a compatible iOS and Android devices and a UK or international mobile number in specific countries. On the 1st of February 2020, the Natwest and RBS Reward accounts will no longer give 2% cashback on bills. Please choose an option below to continue. As soon as your available Rewards balance is the equivalent of £5 or more, you can log in to MyRewards to exchange them. Reward account customers can actually earn the most - up to £211 - in the first year of swapping bank accounts. We have a range of accounts which you could have access to if you open a current account with us. Reward Account eligibility (for accounts opened on or after 26th June 2017) To earn Rewards, you’ll need to pay at least £1,250 into any personal current account(s) you have with us (as long as it’s not a Foundation, Basic or current account mortgage product) every calendar month. 1% back in Rewards when you spend at our partner retailers: Caffe Nero, Europcar and more To apply, you need to be 18+ and a UK resident. And happy to view your statements in Digital Banking - not posted. Earn an extra £1 back in Rewards every calendar month you log into our mobile banking app (criteria applies). Just like RBS' Reward accounts, it comes with a monthly £2 fee, but there's also 2 per cent cashback on bills paid by direct debit, such as council tax, energy, water and phones. You can now see your MyRewards balance in our mobile app! Around 1.7 million RBS and NatWest reward account customers currently benefit from 2% cashback on bills, receiving an average of £83 a year. We might also ask for other information like proof of address. To apply, you need to be 18+ and a UK resident. Also earn 1%+ back in Rewards when you spend with our retail partners: Caffe Nero, EuropCar, Barrhead Travel, Boux Avenue, P&O Ferries and ATG Tickets. Looking to understand the costs of an overdraft of more or less than £500 over different periods of time? I was in a right panic and RBS put my mind at ease. To hold this account, you need to pay in £1,250 to an eligible Royal Bank of Scotland account every month. Specific account eligibility criteria and conditions apply. £1 a month for checking your mobile banking app each month. You’ll need these bits of info handy for your application: The Current Account Switch Service will move everything across from your old bank account to your Royal Bank current account within 7 working days. Apply for new Reward account. Once they’ve confirmed your identity we’ll activate your account. All kinds of general info about our current accounts. Ways to Earn RBC Rewards Points Your everyday purchases can earn great rewards.