Royal Bank of Scotland Rewards – Current account

Reward current account

Earn Rewards month in, month out.
5.00 in Rewards = £5.00 when exchanged.

Earn 3% in Rewards on 7 types of household bills paid by Direct Debit

No limit to the Rewards you could earn

Only £3 a month

To apply you must be 18 or over and a UK resident

Book a Branch Appointment Change an existing account to Reward

Change an existing account

Is this to be a sole or joint change?

To apply, you need to be aged 18 or over and permanently resident in the UK.

In order to help us upgrade your account as quickly as possible, please do not open more than one application form in your browser. This can create an error when submitting your application.

Please note that this account is not available to Royal Bank of Scotland customers in England and Wales.

3% in Rewards on these bills when you pay by Direct Debit

Calculate how many Rewards you could earn

Payments to billing organisations but which are for other services such as maintenance, repairs or insurance will not earn Rewards.

Rewards explained

What are Rewards?

They're simple

You automatically earn Rewards on seven types of household bills paid by Direct Debit and on purchases at partner retailers. 5.00 in Rewards = £5.00.

 

They could grow quickly

There's no limit to the Rewards you can earn. On average, currently our customers earn £120 per year in Rewards, based on average monthly Direct Debits of £333 (£4,000 per year) and excluding the monthly fee.

 

They're easy to exchange

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 current account or use towards reducing your Reward credit card balance.

 

Rewards can also be exchanged for gift cards or codes at selected retailers or converted to money and donated to participating charities.

How do I earn Rewards?

3% back in Rewards on seven household bills

You will earn Rewards on the following bills when you pay by Direct Debit from your Reward bank account; Council Tax, mobile, landline, TV package, gas, electricity and broadband.

 

Payments to billing organisations but which are for other services such as maintenance, repairs or insurance will not earn Rewards. 

 

At least 1% back in Rewards at partner retailers

After you've opened your account, you'll receive personalised retailer offers where you can earn extra Rewards when you use your Royal Bank of Scotland debit card. To view your personalised offers, exchange any Rewards and to check your Rewards balance, you will need to register on the MyRewards site.

How do I exchange Rewards?

As soon as your available Rewards balance is the equivalent of £5 or more, you can login to MyRewards to exchange them. To login you will need to register, using your debit card. You can then choose from the following.

 

Bank it

Convert your Rewards into money. You can then transfer the money into your Royal Bank of Scotland bank account or use towards reducing your Reward credit card balance. The funds will be cleared in your chosen account within 5 working days.

 

Trade up

Exchange your Rewards for gift cards or codes at our selected partner retailers.

 

Donate

Convert your Rewards into money, which can be donated to one of our chosen charities.

   

Account features when banking with us

Ways to bank

Access your account anytime with 24-hour UK call centres, online banking or our mobile app. We also have one of the UK's largest branch networks.

We have lots of ways to bank with us, whether you want to use your mobile phone, tablet, or even use one of our mobile branches in more rural locations in the UK. There's plenty of ways to make managing your money easier.

App available on most smartphones, to Royal Bank of Scotland customers with Online Banking and a UK mobile number.

 

Ways to bank with us

Get cash without your bank card

Our mobile app lets you withdraw money (up to £130 of your money per day) from Royal Bank of Scotland, NatWest or Tesco cash machines.

Get Cash is a function on our Mobile Banking app that lets you withdraw money quickly without using your bank card. It's great for those times, when you pop out during your lunch hour, but don't have cash on you.

 

More about Get Cash

Pay your contacts with our mobile app

Pay Your Contacts lets you send money to someone aged 16 and over with a UK mobile number who has a UK Visa Debit card.

Paying money to anyone with a valid UK Visa debit, credit or prepaid card is simple – all you need is their mobile number and your Mobile Banking app. Open your Mobile app, click on the ‘Pay Your Contacts’ option, enter their mobile number, the amount you want to pay them and add a personal message.

If the person you’re paying is a Royal Bank of Scotland Mobile app user, they’ll receive a text and the money will be in their account instantly.

 

More about mobile payments

Opening an account or switching to Royal Bank of Scotland

What you need when opening an account

Opening a new current account with us is easy. Find out what documents you need when applying for an account.

To apply in a branch please try and have a UK Passport or Driving licence to hand along with a working credit or debit card.

It's easy to switch to us

Switching bank accounts from one UK bank or building society to another is simple with the Current Account Switch Service. It takes just 7 working days.

On your switch date, your payments, such as Direct Debits, Standing Orders and Bill Payments, will transfer to your new account. Any credit balance from your old account will have been transferred, your new account will be ready to use and your old account will be closed, if you wish.

Book a Branch Appointment
Overdrafts with the Reward Account Remember to arrange an overdraft facility if you need it

Access to additional money (subject to eligibility)

You can apply for an Arranged Overdraft during the account application process or you can review your requirements after your account has opened and apply separately (subject to approval). Usage fees apply.

The Royal Bank of Scotland Reward Account comes with a £10 interest free threshold. You will only pay interest and a usage fee if you spend more than your interest free threshold and only on the amount you are overdrawn by.

Read more about overdrafts

Fees and charges

If you spend more than your interest free threshold and you have an arranged overdraft facility, you will be charged a £6 Arranged Overdraft usage fee and interest on that amount.

If you spend more than the interest free threshold and you haven't been approved for an arranged overdraft, or if you spend more than your arranged limit, you will be charged unarranged overdraft usage fees of £6 a day, up to 15 days in every charging period.

Overdraft charges
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Reward credit card

Earn Rewards on your everyday spend.

Over 18s and mainland UK residents only. Annual fee refund available for Reward account holders.

Representative 23.7% APR (variable)
Annual fee applies

If the Reward accounts aren't right for you

Select current account

An alternative to the Reward accounts

Over 18s and UK residents only.

No monthly fee

If the Reward accounts aren't right for you or you're not ready to commit to an account with a monthly fee, the Select account is our no fee option. Royal Bank of Scotland customers in Scotland can apply for our Select account online.

 

When you’ve opened your Select account, if at any point you’d like to consider changing to a Reward account, or any other paid for current accounts, you can easily do so online.  

Get assistance or apply Apply for a Royal Bank of Scotland Reward account
Book a Branch Appointment Compare our current accounts
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