NatWest has launched a new £200 bank account switching offer for people switching to its Reward or Select bank accounts.
To qualify for the bonus, you must apply for an account online or via the NatWest mobile banking app, using the Current Account Switching Service.
You’ll then need to deposit £1,250 into your account – and leave it there for at least 24 hours – and login to NatWest’s mobile banking app within 60 days.
Your switch must fully complete to receive the incentive, which means your old bank account will close and any funds and direct debits will move over to NatWest.
If you’ve previously received a switcher incentive from NatWest Group since 1 January 2020, you will not be eligible for this offer.
This isn’t the first time NatWest has offered a cash incentive for switchers. It offered a similar deal last year, which resulted in nearly 95,000 new customers signing up for accounts between 1 July and 30 September – the highest figure of any bank.
Other current account switching deals
There is only one other switching deal available at the moment – from Lloyds Bank, which is offering a £175 bonus.
The cash is available to new customers switching to a Club Lloyds account (£3 per month, which is waived if you pay in £2,000 per month), Club Lloyds Classic, (£10 per month) or Club Lloyds Platinum (£21 per month) packaged accounts.
All Club Lloyds accounts come with the option to pick one lifestyle benefit per year. The choice includes a 12-month Disney+ subscription, six cinema tickets, an annual magazine subscription or an annual Coffee Club and Gourmet Society membership.
The Silver account comes with European and UK family travel insurance, AA breakdown family cover and mobile phone insurance. The Platinum account includes all the same features, but also worldwide family travel insurance.
