Warning issued as there are weeks remaining before customers lose banking app perk
If you've got an account with one of the major htghstreet banks, you're going to need to know about a major change that's about to happen within a matter of months.
When you choose to bank with someone, there are usually a few incentives or reasons that go along with it.
From low interest rates, to even a joining reward fee, banks will do a lot to entice customers to their companies.
But sometimes, they also take those incentives away during an overhaul of the service or package.
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With that said, if you're a NatWest or RBS Reward account customer, your previous £1 a month reward for logging into your mobile banking app will come to an end.
Those changes will be implemented from 1 October 2026, per the bank, and that's not all that's changing.
So, while you'll no longer earn £1 a month, you might be able to earn in other ways via the banks' Direct Debits reward scheme which can see an account holder able to earn £4 a month by paying out two or more Direct Debits of £2+ each.
But you can get that money back in the form of physical cash, gift cards, or charity donations to an organisation of your choice.
You may have to pay a £2 fee every month to keep an account, and if you can max your Direct Debit rewards, you can earn £24 a year on your Reward account, and up to £36 depending on the scheme.
Other UK NatWest accounts impacted by this change are those who are high earners with a NatWest or RBS 'Premier Reward' account.
But with a £9 monthly Direct Debit reward and 1 per cent debit card spending cashback incentive, it's not a huge loss, unless you were planning on saving the extra cash.
A NatWest Group spokesperson revealed the reason for this change to AOL, noting: "We regularly review our products and services to ensure they continue to meet customers' changing needs and deliver strong overall value.
"As part of these updates which will take effect from 1st October, we're introducing a range of new and enhanced benefits across our packaged accounts - including free overseas debit card spending for Reward customers, and access to services such as digital GP appointments, mental health support and physiotherapy - following extensive customer research."
They added: "The mobile app reward was introduced to encourage digital engagement and mobile banking familiarity, but with the widespread growth of digital adoption we believe that investment is better used to deliver benefits customers have told us they value more highly.
"Our updated accounts represent increased annual value for customers who make use of the benefits available, including health, travel, insurance and lifestyle support."
There are a number of other accounts you can use if you want to join NatWest or RBS, so do your research on which one is best for you.
Britt Jones