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NatWest launches £150 switch offer

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High street bank NatWest is hoping to lure new customers with a £150 offer to switch to their current account.

New and existing customers will be able to receive a £150 one-off payment after making NatWest’s Reward current account their main bank account.

In addition, the bank estimates that customers will be able to earn £83 on average each year in cashback on household bills. The switching offer is available between 7 January and 15 February 2019.

Customers who switch to NatWest’s Reward Silver, Platinum or Black accounts will be able to benefit from zero foreign fees on debit card purchases made outside of the UK and up to 40% off cinema tickets. Meanwhile, Platinum and Black customers will be entitled to personal car breakdown cover for vehicles they own or are travelling in, as well as mobile phone and travel cover.

To receive the £150 payment, £1,500 must be paid into the Reward account and customers need to log in online or through the mobile app before 22 March. If you have already received a cash offer from NatWest for switching to a new current account after October 2017, you will not be entitled to the payment.

David Crawford, head of NatWest current accounts, said: “One of the best New Year resolutions is getting on top of your finances. Anyone switching across to us will also be able to take advantage of a financial health check to make sure they are making the most of their money.”