RBS, Natwest launch debit card loyalty scheme

Royal Bank of Scotland and Natwest are trying to nab customers from rivals by tempting them with a scheme that gives them cashback or rewards when shopping with their debit cards at participating retailers.   

Natwest

Existing and new customers of the banks, both part of the taxpayer-owned RBS Group, using the “cashback plus” debit card will be offered 1 per cent cash-back when shopping at Tesco, BP, Cineworld and Caffe Nero among others. Not all products, however, will earn cash-back only “qualifying purchases” the details of which have not been revealed.

Cash accrued will be held in a cash-back plus account, Cardholders will  be given the option of taking the cash, trading up to higher value rewards from the participating retailers based on shopping history or donating the money to a list of charities.

The banking group is hoping the scheme will increase debit card usage and spend from existing and prospective customers. 

Allan Hardie, head of NatWest and RBS current accounts, says: “We want to reward our loyal customers for banking with NatWest and RBS, but we also want to give our new customers an offer that won’t fizzle out just after signing up.

“This simple reward scheme requires no separate loyalty card and it’s completely free. Customers will get value back on something they do every day – using their debit card.”

It is being sold to retailers as an incremental sales opportunity and a chance to capture behavioural data.  

The scheme has been rolled-out nationwide today (12 August). It follows an 18-month trial with 80,000 cardholders from both banks. It was developed with loyalty firm Reward.  

Latest from Marketing Week

PLEASE SIGN IN OR REGISTER. IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and inspiration that will help you develop as a marketer and leader.

Register and receive the best content from the only title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work, so we can make Marketing Week more relevant to you.

Register now

THE BEST CONTENT

Our award winning editorial team and columnists will ask the biggest questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we will be your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Dedicated to developing your skills and helping you achieve marketing excellence. Find guidance on leadership, professional development and the latest industry jobs.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here