The NatWest bank is incentivising customers to switch their main bank account by offering £175 to people who make the move. This is great news for anyone looking to change banks, but also for current NatWest account holders as the deal applies to them too.
To qualify for the deal, which runs until 2nd April 2020, customers must close their existing account and use NatWest’s Current Account Switching Service to make the change. The Switching Service has been designed to make moving bank accounts much easier and the service will transfer standing orders, direct debits and salary payments to the new account within seven days.
More good news is that the NatWest Select account has no monthly fee and provides a GetCash service allowing you to withdraw money from a cash machine without a card, by using a mobile phone passcode. Other accounts eligible for the £175 bonus are the NatWest Reward, Reward Silver, Platinum and Black accounts.
The Reward account costs £2 per month, but the account will pay you £4 per month if you have two direct debits set up on the account and another £1 for logging onto their online banking, meaning that you’ll still be making money even after paying the £2 fee. Retailer cashback offers are regularly promoted to Rewards customers too, giving account holders more options to save money
To get the £175 switching bonus, customers must deposit £1,500 to the account and log in to their online banking or mobile banking via the NatWest app before 10th May 2020. The switching bonus will then be released to the customer by 5th June 2020.
Bruno Genovese, Head of NatWest current accounts, commented, “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.”
Interested in making the switch? An account can be opened online or in your local NatWest branch, but remember, to qualify for the cash you must use the switching service.