NatWest customers share £90m rewards from their current accounts

NatWest customers share £90m rewards from their current accounts

NatWest customers have earned almost £90m from their current accounts in the last year.

Supporting individuals

14 October 2016

NatWest customers have earned almost £90m from their current accounts in the last year.

The Reward account, which celebrates its first year anniversary this week, pays 3% Rewards on household bills such as Council Tax and utility bills. Over £3bn Direct Debit transactions passed through customer accounts in the last 12 months.

Research carried out on behalf of the NatWest Reward account* found people spend more time deciding which sofa to buy than they do on which current account would be best for them.

The average time taken to choose a new couch is 25 days compared to just over three hours spent on deciding the best bank account. It was also found that more than a quarter of people have never changed their current account.

The research also revealed Londoners are the least likely to pay for broadband using Direct Debit. Just over one in two people (55.8%) use Direct Debits to pay the bill compared to almost four in five (78.9%) in the North East. Broadband is the UK’s most popular Direct Debit with almost seven in ten (67%) paying their bill in this way.

Dan Jones, Head of the NatWest Reward Account, said: “There’s a lot to celebrate about the Reward account reaching its one year anniversary, especially the amount of money customers are receiving as a result of simply using the account. The research also highlights how important it is to take time to decide on the best account for you.”

* The research for NatWest Reward Account was carried out online by Censuswide between 1st July 2016 and 5th July 2016 amongst a panel of 2000 UK adults aged 16 to 70 years old.




This information is for media use only and is not a financial promotion

Over 18s and Mainland UK only

Payments for services like maintenance, repairs and insurance won’t earn Rewards.

3% Rewards available on council tax, mobile & landline, TV package, water, gas, electricity and broadband bills.

Related articles

NatWest reveals importance of Direct Debits

Research released by the NatWest Reward Account shows that 8 out of 10 people know exactly, or to the nearest £25, how much money leaves their account each month by Direct Debit.

NatWest and RBS launch new personal current account

NatWest and RBS are launching a brand new personal current account which will reward customers with 3% on eligible household bills.

Latest news

Women and millennials help drive £17bn+ franchise sector to record levels

New research from NatWest and the British Franchise Association (bfa) highlights changes and profitability in the sector.

Winners announced for Skills & Opportunities Fund

52 winning organisations have been announced for round two of the 2018 Skills & Opportunities Fund.

RBS Multicultural Network meets Eric Holder, 82nd US Attorney General

Simon McNamara, RBS Chief Administrative Officer and Executive Sponsor of the RBS Multicultural Network, recently hosted an event in discussion with Eric Holder, the first black US Attorney General. They discussed career, ethnicity, diversity and even a little bit of politics. At the event, Eric Holder shared his wisdom and experience with attendees from the RBS Executive committee and RBS Multicultural Network. Simon McNamara blogs about his experience meeting Eric, a BAME role model, and why diversity is so important to RBS.

Set Tab for lightbox