Launching on 12th October 2015, the rewards account will give 3% cashback on some household bills. Looking at the limited information there is out there about this account the monthly fee will be £3. The cashback looks to be on all the same things as Santander but at a flat rate of 3%.
I've yet to see any switching bonuses but I'm sure there will be some that come up. I had moved my Santander account to another bank but sorry, when the switching bonus is paid I'll be off again to Nat West to join the streams of Santander customers.
If you are with Santander for the attractive 3% interest rates available, be aware that Nat West have not replicated this yet as far as I can see so further investigation will be required. M
The telegraph wrote an informative article about the new account HERE