https://www.legislation.gov.uk/ukla/2006/1/introduction/enacted
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That was to restructure BOS as it wasn’t a standard plc and quickly merge all the remaining banking licences into BOS by a private Act of Parliament. Nothing actually happened to HBOS plc and it was for legal reasons not regulatory. NAG did something similar with Yorkshire Bank a few years earlier.
You can also do something similar under newer legislation coupled with a Court hearing and approval.
Just as another datapoint - I added my fiancée to that new account and today she also received a Visa Debit card (Child & Co branded obvz).
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Those who have switched from one account type to another, how long did it take? It sounds like it needs to be done manually on the backend?
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I switched from the standard rbs current account(select?) to rewards last month. Took one day for me
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Yeah seems to be actioned the following working day. I’m guessing it’s a manual process for someone.
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Thanks both, it did update after about a day, and got my welcome email too. However, I still can’t access MyRewards – how long did that take?
It flashed up on my app for a brief moment but when I went back to actually try and register, it was gone again. Account type is definitely “Reward”
I think it takes another couple of days or so before you can access MyRewards.
You may be able to speed that up by registering at the MyRewards website first.
It’s probably one of their overnight batch processes to “switch it on” in the mobile app, so that would be why there would be a slight extra delay.
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Thanks! The website works, so I guess I’ll just wait and see what happens with the app.
Got the app working too, so it’s definitely a batch process overnight. Final question that I just can’t find the answer to online – when are Rewards paid/when is the fee deducted?
With Barclays I know it’s always around the 5th of the month but not sure if it’s the same with RBS?
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It’s account specific I think - ask them on chat
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I think it’s around 14 days after you have earnt them, they are pending before that.
You also get charged the monthly rewards fee around 28/30 days in arrears.
Everything is with RBS & NatWest, it’s just how their IT systems are set up!
It’s me again, with another Rewards question. If I spend with a retailer on my offers list, how long should the reward take to appear as pending? I was going to spend anyway, and decided to go with RBS instead of my usual credit card for the 10% offer
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It varies a bit, but it tends to show in myrewards the working day after the transaction posts. Give it a week I’d say.
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Yes, that’s about how often it seems to take for the mobile app login award too (an extra day of batch processing after the day in which you opened the app).
Direct Debit rewards take longer, more like a week, so it’s possible that retailers end up being a similar timeframe.
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I noticed that! It’s slower than Blue Rewards, but whatever, still a lot more generous.
I’ll revive this thread again. On the MSE forums there is some discussion ongoing about Drummonds branded cards. It seems that non-private customers can get one too somehow. The person who has one claims you’d need to open the account in branch and the employees would assign you one.
Is that even possible? I presume they’d just tell you to apply online these days; and surely an employee can’t just decide the debit card design?
Card design from MSE forum:
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Apparently there is a drop-down box as part of the application system which they can control if you apply in the branch.
The options are all for RBS Online, RBS Offline and accessible embossed or Chip and Signature cards, with an override based on sort code for Holt’s and Child & Co but a separate card option in the drop-down (and no override applied) for Drummonds. It was all discussed on MSE years ago, but from what I remember the option did specifically appear as “Drummonds Debit” - so it’s quite plausible.
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Also, if anybody does want a Child & Co account and doesn’t yet have one, apply now as the branch closes next week so the window of opportunity is probably closing!
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