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

NatWest launches £175 switching incentive for new and existing customers

0
Written by:
12/02/2020
NatWest is offering £175 to new and existing customers switching their main bank account.

The offer runs until 2 April 2020 and customers will need to close their existing account and use the Current Account Switching Service to be eligible.

The Current Account Switching Service makes switching easier by transferring a customer’s existing current account, with all direct debits, standing orders and salary commitments transferred within seven days.

To get the cash, customers must pay in £1,500 to the account and log into online or mobile banking through the NatWest app before 10 May 2020. They will then receive £175 by 5 June 2020.

They can switch to one of several NatWest accounts including Select, which lets customers withdraw money from a cash machine without their bank card using a passcode sent to their mobile phone.

NatWest’s Reward, Reward Silver, Platinum and Black accounts are also eligible for the offer.

The £2 a month Reward account gives customers £4 per month for two Direct Debits and an additional £1 for logging onto online banking. This means that in the first year of switching, a customer could be at least £211 better off once the monthly charge has been deducted. Customers can also benefit from regular retailer cashback offers.

Bruno Genovese, head of NatWest current accounts, said: “Switching bank accounts couldn’t be easier and we hope our highest ever guaranteed switcher offer will give an added incentive for those who have been thinking about switching to a bank that can help make you more confident about money.”

Customers must be 18 or over and must not have received a cash offer from NatWest for opening a new current account and switching after October 2017.

Earlier this month, NatWest and RBS scrapped cashback on household bills for Reward current account holders.

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.

The savings accounts paying the most interest

If one of your jobs this month is to get your finances in order, moving your savings to a higher paying deal i...

Coronavirus and your finances: what help can you get?

News and updates on everything to do with coronavirus and your personal finances.

Everything you need to know about being furloughed

If you’ve been ‘furloughed’ by your company, here’s what it means…

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

Read previous post:
Energy customers to get automatic compensation for switch delays

Energy customers will automatically receive £30 if they experience delays or mistakes when switching supplier.

Close