Published On: Thu, Sep 12th, 2019

Martin Lewis: Money Saving Expert explains NatWest best bank account for cashback on bills

Martin Lewis is the Money Saving Expert who will appear on TV to gives tips on how to save money.  Speaking on Good Morning Britain, he explained how Britons could get a free £150 from their bank. On the show, the Money Saving Expert told viewers how to get two per cent cash back on all bills. He also shared a top tip for how drivers could get 5p off per litre of fuel this month.

The expert explained how banks are getting more competitive and Britons could benefit from improving deals.

He said: “The bank account market is getting more competitive as five banks now pay you to switch. The choice is a mix of upfront cash, rewards, and great apps.

“The news this week is that NatWest has re-entered the free cash bonus switch war, and has launched the largest upfront cash bonus currently available.

“It’s paying switchers to most of its accounts £150 when opening an account and requesting a switch by 11.59pm on Friday 6 December.”

As well the bonus for signing up, Martin explained the reward scheme the bank have put in place.

“The stand out pick of NatWest/RBS’s accounts is the Reward Account, which for £2 per month fee you get two per cent cashback on household bills you pay from it via direct debit – energy, mobile, council tax, water etc.” Martin said.

“On average bills, it’s worth £80 per year after the fee – though some with higher bills can earn over £100 per year. So all-in with the free cash you could bag over £250.

“Alternatively, if you don’t want to pay a fee and get cashback, but just want the free money then the bog standard NatWest Select account does that.”

Martin gives more information about the best deals on moving bank at Martin’s Bank v Bank rundown. 

The Money Saving Expert then told viewers how they could save money on petrol at Morrisons

Martin said: “Spend £40 or more in one transaction – excluding some items such as tobacco, stamps or lottery – in-store at Morrisons till Sunday 15 September and you’ll get a voucher for 5p per litre off petrol or diesel to use at its own forecourt.

“The voucher is valid until Sunday 22 September, and it can be used on one purchase of fuel only, up to a maximum of 100 litres.

“If you’re spending more than £80, split your shopping into two to get two vouchers.”

On Monday this week, he spoke on BBC Live 5 to explain the savings accounts with the highest interest rates now

He listed two banks with the highest interest rate for those looking for a fixed-term savings account.

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Martin Lewis: Money Saving Expert explains NatWest best bank account for cashback on bills