NatWest £125 switch incentive

ToTo_Man

I'm slightly confused, do both the Reward and Select current accounts require a monthly £1500 pay-in or is it only the former?

Mchambers

Complained so should get loads of wonga compensation.

KTF

ToTo_Man wrote: »

I'm slightly confused, do both the Reward and Select current accounts require a monthly £1500 pay-in or is it only the former?

To get the switch incentive on either account you have to pay in £1500.

wizzywig27

Ok, anyone have any idea what’s going on here?

I left NatWest in December to do the TSB switch.

Today I apply for NatWest and it says I’m eligible. I then proceed with application and stupidly say I want a saver account - after it asking loads of questions I change my mind so try to exit the application. It won’t let me (will only let me move forward) so I do, and it seems (unbeknown to myself at the time) I was applying for another savings account.

Anyway the application exited (by itself) and I received an email advising me they are looking into my application and will be in touch in 3-5 days. So I call them. Seems they want a copy of my signature (but strangely the savings wanted everything, signature and photo ID.

Anyway no idea what’s caused this, I’m sure during the process it said I was accepted.

ToTo_Man

Consumerist wrote: »

It's a one-off amount (not monthly) into the account you open or switch into.

KTF wrote: »

To get the switch incentive on either account you have to pay in £1500.

According to the "Need to knows" on the MSE page for the Reward account:

- To get the bonus, you must apply for the account by 16 Feb and complete a full switch using NatWest's official switching service, pay in at least £1,500 and login to online or mobile banking by 16 Mar.
- The account has a minimum pay-in of £1,500 per month.

This is confirmed on the NW site too, but I can't find any confirmation of whether the £1,500 monthly pay-in is also a requirement for the Select account.

[Deleted User]

Consumerist wrote: »

Well, I don't at the moment but I did when I switched the Santnader123 account. What's your point?

The point was when you originally chipped in we were comparing like for like, in other words would the Nat West reward give a better return than the Santander Lite. I was saying the 5% regular saver tipped the balance FOR ME.

Now then, what was your point?

KTF

ToTo_Man wrote: »

According to the "Need to knows" on the MSE page for the Reward account:

- To get the bonus, you must apply for the account by 16 Feb and complete a full switch using NatWest's official switching service, pay in at least £1,500 and login to online or mobile banking by 16 Mar.
- The account has a minimum pay-in of £1,500 per month.

This is confirmed on the NW site too, but I can't find any confirmation of whether the £1,500 monthly pay-in is also a requirement for the Select account.

From the Apply page of the Select account it says:

"Just choose 'switch' when you apply below. You'll need to pay in at least £1,500 and log in to Online Banking or our Mobile Banking app by 16 March 2018. We'll pay the £125 cash into your new account by 13 April."

From: https://beta.natwest.com/personal/current-accounts/select_account.html#switchoffer

badger09

badger09 wrote: »

I applied just after 17.00 yesterday. Mid morning today I got email asking me to upload photo ID. 1st time I've done it so no idea if its ok, but big green ticks on screen, & despite laptop telling me it was still uploading, got 2 emails thanking me for docs:cool:

What's next?

Oh dear

Got email to say they can't accept photo ID, which might not have been clear enough. So I took new photos & tried again. Email arrived to say they've received them, but laptop still says 'Your details are being submitted' & circling after 6 minutes.

Any tips where I'm going wrong?

tomthered

Guys have applied for a joint account so when should I get an email? Completed application online but had to go back in twice as when I switched tabs to get my bank info it kicked me off?

EDIT Received the email addressed to my wife but not me? Maybe a quirk of their online application system?

ToTo_Man

KTF wrote: »

From the Apply page of the Select account it says:

"Just choose 'switch' when you apply below. You'll need to pay in at least £1,500 and log in to Online Banking or our Mobile Banking app by 16 March 2018. We'll pay the £125 cash into your new account by 13 April."

From: https://beta.natwest.com/personal/current-accounts/select_account.html#switchoffer

Just found this on the NW Reward page:

"To earn Rewards on your household bills, you need to:
- Log into Online or Mobile Banking at least once every three months
- Pay in £1,500 in total every calendar month to any personal current account(s) you have with us (as long as it’s not a Foundation, Basic or mortgage account).
- Please note, the £1,500 can’t be transferred from another NatWest current account or savings account that you have with us.

If you are unable to meet the above criteria we may look to convert your Reward account to our Select bank account which has no monthly fee."

The last paragraph suggests to me that the £1,500 is just a one-off requirement for the Select account. The reason I ask is I'd like to switch my partner to the Select account but I don't know if they'll be accepted due to having a low income? (we hold both joint and sole current accounts with a few banks but it's the sole accounts we want to switch).

EDIT - Is it possible to open the new account as a joint account if the donor account being switched is a sole account?