NatWest £125 switch incentive

alternate

You need the natwest debit card for ID verification. You can proceed without but they send you forms to sign before they start the switch.

Remember it is 7 working days to switch so realistic deadline is today.

clivep

ValiantSon wrote: »

Yes, I know that, but the person I was replying to is waiting for their NatWest debit card before switching their other account to NatWest. This is not what you are talking about.

Quite correct, my apologies.

LozzaA

The online switching form requires your Natwest Account number, sort code and the last 4 digits of the long debit card number. Luckily I was able to get this info from a branch despite not receiving any post from Nat West since I opened the account.
From what i remember, if you select that you haven't a (nat west) debit card they have to send a letter for you to sign and return before they can start the switch.

telemarks

If you meet the criteria, the bonus will be paid into your account by 13 April.

So it seems that kettles boil quicker and paint dries faster, and both are far more exciting activities than watching a Nat West account in the hope of bonus day.

36 days to go. <finger drumming>

So to help the time pass I thought I'd ask where are people switching their accounts to on 14th April?

Myself I'm thinking of M&S, you?

EachPenny

telemarks wrote: »

So to help the time pass I thought I'd ask where are people switching their accounts to on 14th April?

Might be best not to draw too much attention to just how much some people are playing the system.... otherwise the banks may be tempted to make the conditions of the next switch offer just that little bit harder to meet.

It's not really fair for those of us who have already taken advantage to make it more difficult for those who might follow in the future. :think:

RG2015

EachPenny wrote: »

Might be best not to draw too much attention to just how much some people are playing the system.... otherwise the banks may be tempted to make the conditions of the next switch offer just that little bit harder to meet.

It's not really fair for those of us who have already taken advantage to make it more difficult for those who might follow in the future. :think:

I doubt that posts on this forum would influence the banks in any way. If it did it would prove just how out of touch they are with reality.

However, I would love to see by how much this great £125 giveaway has benefited NatWest in increased profits.

telemarks

RG2015 wrote: »

I doubt that posts on this forum would influence the banks in any way. If it did it would prove just how out of touch they are with reality..

I tend to agree. After all the Bank concerned will be pro-actively monitoring a whole host of "performance indicators" in relation to this promotion, rather than reading online forums to judge success.

They will have built in factors to allow for serial switchers, but it would be interesting to know if they under or overestimated this factor.

alternate

I would be amazed if marketing depts don't scour every forum they can - it is all free data on what people are saying about their brand.

That said, they don't need to read the forums to find out how much an offer is or isn't being abused. They have much better internal hard data on how many people switch and stick vs those that cut and run.

From the number of banks who have joined in with switch offers - and those they keep increasing the bribe - I would bet the banks are more than happy with the retention they are seeing.

Consumerist

telemarks wrote: »

. . . So to help the time pass I thought I'd ask where are people switching their accounts to on 14th April?

Well, I already had a Select account and so applied for a Reward account and shipped in my household bills through the switch and plan, for the moment, anyway, to stay for a year to see how that goes.

From what I have gleaned so far, the Reward account seems to be a bit of a convoluted affair: DDs earn points and 35 days later you can request them to be converted into pounds as long as there is at least 5.00 points to "bank" (1 point = £1.00 eventually, they say). Then wait another five days for the cash to be credited to your account. Rewards for direct debits spread over 10 months of the year are calculated on the basis of 12 months of the year. Accountants should love this system but I don't know how long I'll put up with it. After a year, I'm fairly sure they will wangle the numbers so that I won't get the 2% promised.

If nothing else, the Reward account should be interesting if not actually rewarding. :rotfl:

harz99

telemarks wrote: »

>

So to help the time pass I thought I'd ask where are people switching their accounts to on 14th April?

Myself I'm thinking of M&S, you?

So far this year, DW and I have netted £700 from switches and recommendations, soon to be £825 when this one pays out. Trouble is now I've run out of banks, and DW probably won't meet the criteria for HSBC or First Direct which are her only two options - we'll try though.