Open a Reward bank account
Rewards are our way of giving you something back
£2 monthly fee
Earn 2% in Rewards on 7 types of household bills paid by Direct Debit. On average our Reward customers earn £83 a year in Rewards (not incl. monthly fee) based on monthly bills of £345
Like all of our current accounts, you can use Apple Pay and Google Pay™ for payments with your phone, and Paym, to send money securely with just a telephone number and our mobile banking app
To apply, you must be 18+ and a UK resident. To earn Rewards you need to log into Digital or Mobile Banking at least once every three months and pay in £1,500 to an eligible Royal Bank of Scotland account every month.
Switch and stay for £175
Apply for an account
Tell us you want to switch
Pay in and log in
Use your new debit card
Features and benefits
What are Rewards?
What are Rewards – in detail
When you open a Reward account, you’ll earn Rewards back on eligible household bills. You could earn £83 on average in Rewards a year. This figure is based on paying 7 types of eligible household bills of £345 a month and is before the Reward monthly account fee is paid. 5.00 Rewards = £5.00.
How do I earn Rewards?
How do I earn Rewards – in detail
When you open a Reward bank account, you’ll earn Rewards on selected household bills. You could earn £83 on average in Rewards a year. This figure is based on paying 7 types of selected household bills of £345 a month and is before the Reward monthly account fee is paid. 5 Rewards = £5.00.
Earn 2% back in Rewards on eligible household bills
You’ll automatically earn Rewards on the following bills as long as you pay them by Direct Debit: Council Tax, gas, electricity, mobile, landline TV package and broadband. Payments to billing organisations which are for other services such as maintenance, repairs or insurance will not earn Rewards.
Earn 1% back in Rewards at partner retailers
You can earn at least 1% at our partner retailers when you use your Royal Bank of Scotland debit card.
Earn additional Rewards when you shop with our Reward credit card. Representatative 23.7% APR (variable). Annual fee applies - refunded if you have a Reward current account.
To apply you must be 18+, a mainland UK resident and earning at least 10k per year. Find out more
How do I exchange Rewards?
How do I exchange Rewards – in detail
Once you have opened your Reward Platinum bank account you can set up a MyRewards account. This is where your Rewards are automatically stored. It’s also where you go to check your personalised offers or your Rewards balance. 5.00 Rewards = £5.00. Once it’s the equivalent of £5 or more, you can choose any of the following:
Convert your Rewards into money by simply transferring it into your Royal Bank of Scotland bank account. It takes 5 days to clear into your chosen account.
Exchange your Rewards for gift cards or codes at our selected partner retailers.
Convert your Rewards into money and donate it to one of our chosen charities.
Switch bank accounts
Switch bank accounts
The Current Account Switch Service will do all the work when it comes to switching. This will include moving everything across from your old account to your new Royal Bank account, including Direct Debits, standing orders etc. all within 7 working days. All you need to do is tell us the details of your old bank account and when you want the Switch to start.
To get the £175 switch and stay offer you must:
- Apply for a new account or switch in to an existing account with us before 28th June.
- Complete your switch using the Current Account Switch Service.
- Pay in at least £1,500 and log in to Digital or Mobile Banking by 2nd August. We'll then pay you £125 by 30th August.
- Use your debit card for the account at least once a month and we'll pay you £50 by 30th June 2020.
This offer is available to new and existing customers who are resident in the UK.
We're sorry but if you've had cashback for switching to Royal Bank of Scotland (or NatWest) since October 2017 you won't be able to get it again.
This offer can be withdrawn at anytime.
Before switching take a look at the full offer Terms and Conditions
What can you get up to with our mobile app?
Log in with your fingerprint on selected Apple and Android devices– it’s simple, secure and fast.
View, cancel and amend your regular payments – so you manage your bills where and when it suits you. Limits apply.
Easily pay family and friends using their mobile number - (as long as they have our mobile app or are registered for Paym). Pay Your Contacts makes it quick and easy, and they’ll get the money instantly. Limits apply.
Get cash without your card – Ideal if you’ve left your card at home. Simply go to any Royal Bank or Tesco cash machine and follow the steps in the app. You can withdraw up to £130 every 24 hours.
That’s only half the story. Find out what else you can do. More about Mobile app.
Arranged Overdraft in detail
An Arranged Overdraft is a short-term way to borrow and can be a really useful way to pay for unexpected bills. An Arranged Overdraft means we’ve approved extra funds for you, which are available on your current account.
What you should know
You can arrange an overdraft with this bank account. We will only charge you interest and/or fees if you use your Arranged Overdraft. Subject to eligibility.
How much will I get?
It depends. We’ll look at your individual circumstances and decide on your overdraft limit. We’ll take into account age, earnings and credit rating.