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Last chance to bag £150 NatWest bank switch bribe

Written by: Paloma Kubiak
Customers have a few hours left to open a NatWest current account where they’ll receive a £150 switch incentive – the highest cash offer on the market.

The offer’s been available since September but will come to an end at midnight tonight.

There are five NatWest current accounts to choose from:

  • Select (free)
  • Reward (£2/month, offers up to 2% cashback on bills until February 2020)
  • Reward Silver (£10/month, offers insurance and discounts at restaurants)
  • Reward Platinum (£20/month, offers breakdown cover, insurance, lounge passes)
  • Premier Reward Black (£31/month, min £100k income or savings/investments, or £500k mortgage).

The accounts can be opened by those aged 18+ who can pay in at least £1,500 a month.

Customers will also need to log in to online or mobile banking by 24th January 2020 and NatWest will pay the £150 cash into accounts by 21st February 2020.

The deal isn’t available to those opening its Student, Adapt or Foundation accounts.

Last of the big switch bribes to go

NatWest follows a number of big banks which have scaled back their current account switch incentives. Now, the most cash customers can get is £50 from First Direct. Or switchers would need to recommend a friend to Nationwide or TSB for more.

Rachel Springall, finance expert at Moneyfacts, said: “Clearly this is the wrong time of year for consumers to grab a sweetener when switching their current account. If they are happy to accept M&S gift vouchers as a sweetener, then M&S Bank are offering up to £180 worth for new customers.

“This will be disappointing news for those who waited for until nearer Christmas to get a cash boost by switching. It may be wiser to now way until January to see what sweeteners might come out, as banks tend to bring out offers to entice new customers looking to rework their financial products as a new year’s resolution.”

The table below shows current switch offers available:

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