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NatWest launches £100 current account switch deal

Paloma Kubiak
Written By:
Paloma Kubiak

New and existing NatWest customers applying for a current account online will receive a £100 switch incentive within 12 weeks of the move.

The offer is available until 15 June as long as customers switch their main bank account on NatWest online via the Current Account Switch Service.

New switchers can apply for the NatWest Select account or one of its Reward accounts.

The Select account is fee-free while the Reward account is £2 per month. With the Reward account, customers get fee-free foreign transactions on debit card purchases until 31 August 2018.

These customers also receive 2% cashback on household bills when paying by direct debit. This includes council tax, water, gas, electricity, mobile, landline, TV package and broadband.

NatWest said customers receive an average of £83 cashback a year through the deal.

However, NatWest has previously offered a more enticing switch incentive. Earlier this year it offered new customers £125, the first time in a decade it has made such an offer.

In order to be eligible for the £100 switch offer, £1,500 must be paid into the account which needs to be logged into either online or through the mobile app before 13 July 2018.

David Crawford, head of NatWest current accounts, said, “Following the success of our switcher offer earlier this year we have decided to relaunch a similar offer. Customers who switched their non NatWest account to us last time using the Current Account Switch Service are already benefitting from 2% back on many of their household bills and will also benefit from fee-free foreign transactions on purchases abroad this summer.”