NatWest £125 switch incentive

ValiantSon

Steve_xx wrote: »

Which seems bizarre, as the terms state that if you close your eligible account before 13 April, then the switch incentive wont be paid.

I could be wrong, but I think that Herbalus was being humorous, given Mchambers' tendency towards troll-like comments.

Herbalus

Steve_xx wrote: »

Which seems bizarre, as the terms state that if you close your eligible account before 13 April, then the switch incentive wont be paid.

Sorry. It seems the sarcasm was only reeking in my head.

I will add some rolling eyes for effect.

Must. Try. Harder.

Mchambers

Thank fans. Much appreciated:D

inittogether

OK. Does the wording of the switch rules anywhere clearly cover this: Does the £1500 have to be a separate payment in after the switch? If your old bank had £1500 in it, and that was switched over, will that alone qualify?

Cheers

Herbalus

inittogether wrote: »

OK. Does the wording of the switch rules anywhere clearly cover this: Does the £1500 have to be a separate payment in after the switch? If your old bank had £1500 in it, and that was switched over, will that alone qualify?

Im sure A_T and Valiant will be along soon to discuss the wording of the terms....

However if you want to read it for yourself, then here is the link. https://beta.natwest.com/content/dam/natwest/personal/current-accounts/documents/Switching_Offer_Terms_2018.pdf

My understanding is that you need to pay in £1500.

ValiantSon

inittogether wrote: »

OK. Does the wording of the switch rules anywhere clearly cover this: Does the £1500 have to be a separate payment in after the switch? If your old bank had £1500 in it, and that was switched over, will that alone qualify?

Cheers

Herbalus wrote: »

Im sure A_T and Valiant will be along soon to discuss the wording of the terms....

However if you want to read it for yourself, then here is the link. https://beta.natwest.com/content/dam/natwest/personal/current-accounts/documents/Switching_Offer_Terms_2018.pdf

My understanding is that you need to pay in £1500.

I don't like to disappoint people so, here goes!

The terms say that you have to, "deposit £1,500 into your eligible account" before 16th March 2018. I would interpret that to mean that you had to pay £1,500 in to the account in addition to any balance that may be transferred from the switched account.

ceredigion

ValiantSon wrote: »

I don't like to disappoint people so, here goes!

The terms say that you have to, "deposit £1,500 into your eligible account" before 16th March 2018. I would interpret that to mean that you had to pay £1,500 in to the account in addition to any balance that may be transferred from the switched account.

My turn to be argumentative.
The terms don't say that, you have to deposit ..... I'm sure you know this but your post could be misconstrued.
We all know that opening a account and switching are different processes, so switching an account with a balance would and did result in a deposit into you eligible account. A quick look at the bank statement shows it logged as a deposit surprise surprise.

EachPenny

ceredigion wrote: »

My turn to be argumentative.

My own £1500's worth is this....

I wouldn't have left £1500 in an account I was in the process of switching. Yes, the switching process comes with guarantees, but I'd rather move the bulk of the account balance manually in advance of the switch (either to a third account, or to the one being switched to).

The wording of the OP's question also incorporates a before/after point. "Does the £1500 have to be a separate payment in after the switch?". I'm not aware of anything specifying the deposit had to be made after the switch, so again, for safety's sake it would have been better to move the bulk of the funds manually before the switch, rather than hoping all goes well with the switching process.

Also, from a practical point of view, a question like this is about 'how can I do the barest minimum possible to qualify for the bonus?' The alternative is just to cycle some money in and out of the account to achieve the required deposit level - hardly a challenge. So I would encourage people not to rely on a specific interpretation on the T&C's on a 'can I get away with it' basis and instead go with 'belt and braces'.

If the OP's question is "I didn't pay in £1500, but I did switch in £1500..." (or variable amounts) then the answer is you are probably ok, but you'll need to wait until 13 April to find out - as the T&C's are ambiguous, and not just on that point.

ceredigion

EachPenny wrote: »

My own £1500's worth is this....

I wouldn't have left £1500 in an account I was in the process of switching. Yes, the switching process comes with guarantees, but I'd rather move the bulk of the account balance manually in advance of the switch (either to a third account, or to the one being switched to).

The wording of the OP's question also incorporates a before/after point. "Does the £1500 have to be a separate payment in after the switch?". I'm not aware of anything specifying the deposit had to be made after the switch, so again, for safety's sake it would have been better to move the bulk of the funds manually before the switch, rather than hoping all goes well with the switching process.

Also, from a practical point of view, a question like this is about 'how can I do the barest minimum possible to qualify for the bonus?' The alternative is just to cycle some money in and out of the account to achieve the required deposit level - hardly a challenge. So I would encourage people not to rely on a specific interpretation on the T&C's on a 'can I get away with it' basis and instead go with 'belt and braces'.

If the OP's question is "I didn't pay in £1500, but I did switch in £1500..." (or variable amounts) then the answer is you are probably ok, but you'll need to wait until 13 April to find out - as the T&C's are ambiguous, and not just on that point.

I agree with your comment. For the record I was being argumentative for the hell of it.

18cc

Ok it's been a long time since I opened the account, and has seemed an eternity until 13 April, and yes I am getting bored too, so why not, I'll join in.


If the T&C say that 'you have to deposit £1500' then surely a switch balance won't count as it's not YOU depositing the money, it is them depositing the money by managing the switch process?


Oh, and the T&C say you have to deposit £1500, not a total of £1500, so make sure you do (make a deposit of £1500)