NatWest and RBS to cut cashback on 'Reward' accounts by £12 a year

What's changing with NatWest and RBS Rewards

The standard (and most popular) NatWest and RBS 'Reward' bank accounts currently charge a fee of £2 a month, but pay you up to £5 a month if you jump through a couple of hoops – meaning you can easily make up to £36 a year.

However, from 1 October 2026:

• You'll no longer earn £1 a month for logging into the NatWest or RBS mobile banking app. This reward will be removed completely.

• You'll still be able to earn £4 a month by paying out two or more Direct Debits of £2+ each. And you'll be able to redeem these rewards in the same way as before (as cash, gift cards, or charity donations).

• The £2 monthly account fee will stay the same. Assuming you max out the Direct Debit rewards, this means the net gain on the standard Reward accounts will drop from £36 a year to £24 a year.

• You'll still get fee-free spending on your debit card overseas. Plus cashback offers for spending at certain retailers.

Higher earner with a NatWest or RBS 'Premier Reward' account? You'll also lose the £1 monthly reward for logging into the app from 1 October 2026, though the £9 monthly Direct Debit reward and 1% debit card spending cashback will remain.

NatWest and RBS are also making changes to their packaged bank accounts from the same date. These have much higher monthly fees but come with travel insurance and other cover. See the full NatWest Silver / Platinum and RBS Silver / Platinum changes.

Check if you can earn more elsewhere

If you're affected by the NatWest and RBS reward changes, use this as an opportunity to check you're getting the most from your current account.

Right now, there are lots of bank accounts offering rewards, cashback and other perks. Our current top picks include:

• Santander Edge – a strong pick for ongoing bills cashback, especially for joint bills accounts. For a £3 a month fee, it offers 1% cashback on bills paid by Direct Debit, up to a maximum £10 a month (so a maximum net gain of £84 a year). Plus until 2pm on Friday 31 August, newbies can currently get a FREE £180, plus £45 voucher for switching to it.

• Zopa – another great bills cashback account, with NO monthly fee. Here, you get 2% cashback on household bills paid by Direct Debit, up to a maximum of £30 a year. It also comes with a linked regular saver paying 7.1% variable on up to £300 a month for six months.

• Chase – 2% cashback on UK debit card spending, up to £20 a month (so £240 a year). Here, provided you meet its monthly criteria, you can get the cashback on groceries, restaurants, cafes, takeaways, transport and fuel. There's no account fee, and you don't need to switch to it.

For lots more options, including up to £500 free switch cash for higher earners, see our Best bank accounts guide.