You are here: Home - Saving & Banking - News -

The banks offering you up to £125 to switch

Written by:
NatWest is offering new and existing current account customers £125 if they move their main account to the bank.

The deal runs from today (3 October) to 3 December and applies to all NatWest current accounts.

Those switching to a NatWest Reward current account, which has a £2 monthly fee, will also benefit from 2% cashback on their household bills with the average customer receiving £83 each year.

The bank launched a similar switching deal in May, where it offered customers £100, but it was pulled the following month.

To qualify for the £125 cashback offer, customers must deposit at least £1,500 into their account a month. They must be 18 or over and not have taken advantage of a cash offer from NatWest after October 2017.

Switchers must use the Current Account Switch Service, close their existing account with their current provider and transfer their main current account to NatWest.

What other switching offers are out there?

Halifax will give you £75 if you use the Current Account Switch Service and close your old account held elsewhere. For the Reward account, you need to pay in £750 a month and set up two direct debits.

HSBC is offering £75 cashback as long as you pay in £500 a month or £150 cashback (plus another £50 after 12 months) if you open an Advance Bank Account and pay in £1,750 per month.

M&S Bank is giving customers a £125 M&S gift card when they switch and up to an additional £60 when you stay for 12 months.

First Direct offers switchers a choice from a range of gifts including £150 of Expedia vouchers or Bose On Ear Wireless Headphones worth around £170. You have to deposit £1,000 within three months of opening the account.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

ISAs: your back-to-basics guide for 2018/19

Here’s everything you need to know to make the most of your unused ISA allowance ahead of the 5 April deadli...

A guide to Sharia savings accounts

A number of Sharia savings products have upped their game in recent months, beating more familiar competitors ...

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

  • RT @RBS: NatWest wins ‘Best Online Student Banking Provider’, ‘Best Online Current Account Provider’ and ‘Best Direct Current Account Provi…
  • RT @YourMoneyUK: Well done to @EmporiumHQ for winning Best Direct Pet Insurance Provider #YMA2019
  • RT @EmporiumHQ: WHAT A NIGHT! We're delighted to announce we landed another prestigious award as Best Direct Pet Insurance Provider last…

Read previous post:
Nationwide hikes charges for overseas spenders

Nationwide Building Society debit card customers will pay more for using their plastic overseas from next week.