NatWest and RBS have launched a new personal current account which will pay customers 3% cashback on eligible household bills.
The account, which will be available from 12 October 2015, will be available only to those customers who pay more than £100 a month in bills.
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The reward account comes with a monthly £3 fee and will offer customers cashback on seven types of household bill – council tax, gas, electricity, water, phones, TV and broadband – with no limit to the amount that can be earned.
RBS said that on average customers would be able to earn £90 a year, after the £36 annual fee is deducted.
Once customers have earned £5 in rewards, they can cash it in, trade it for shopping vouchers, or convert to cash to then donate to charity, the bank added.
NatWest and RBS personal and business banking CEO Les Matheson said: "We want to be the bank that helps you out, not catches you out. Our new account is simple, fair and is a great way for our customers to benefit from banking with us.
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By GlobalData"Everyone has bills to pay, so we want to help our customers where it matters most, by giving them something back for money they’re already spending."
