NatWest £125 switch incentive

Zanderman

Ok, 10th August deadline now over....

Of the two NWest switches I'm involved with - one for for the Mrs - Zanderwoman - and one for the mater - elder matriarch Zanderwoman - one has paid out the £100 bonus on time (just 2 days ago) the other hasn't.

My own switch, back in the earlier offer of £125, paid out on time, but many people got theirs late, some only after complaining.

So, I wonder whether, and when, to suggest Zanderwoman senior should grumble. Maybe I'll leave it a week or so...

ValiantSon

Zanderman wrote: »

Ok, 10th August deadline now over....

Of the two NWest switches I'm involved with - one for for the Mrs - Zanderwoman - and one for the mater - elder matriarch Zanderwoman - one has paid out the £100 bonus on time (just 2 days ago) the other hasn't.

My own switch, back in the earlier offer of £125, paid out on time, but many people got theirs late, some only after complaining.

So, I wonder whether, and when, to suggest Zanderwoman senior should grumble. Maybe I'll leave it a week or so...

Why wait? If they haven't paid on time, then complain now. They have broken the terms of the offer.

Zanderman

ValiantSon wrote: »

Why wait? If they haven't paid on time, then complain now. They have broken the terms of the offer.

Er, because there may be no point, They may pay up in the next few days without a complaint.

I'm not going to go to the hassle of a formal complaint if I don't need to.

And I'm not so much into compensation culture that I want to. Unless it becomes essential.

So I will wait a while.

I was reporting the situation here as that's no trouble to do and it might be useful for others to know that the situation is occurring again (as it did last time round for many).

ValiantSon

Zanderman wrote: »

Er, because there may be no point, They may pay up in the next few days without a complaint.

I'm not going to go to the hassle of a formal complaint if I don't need to.

And I'm not so much into compensation culture that I want to. Unless it becomes essential.

So I will wait a while.

I was reporting the situation here as that's no trouble to do and it might be useful for others to know that the situation is occurring again (as it did last time round for many).

Suit yourself. I wasn't thinking of compensation, but rather ensuring that they knew there was an issue with your payment. Assuming that it will be sorted in the fullness of time is illogical because they may not even know that there is an issue.

A quick call to alert them shouldn't take long, but as I say, suit yourself.

Katiehound

Sea_Shell wrote: »

I can't see anything in the T&C's, (unless I can't see for looking) but is there any time limit on how long you have to keep the account to keep the switching bonus? .

No.
I switched from Nat West to Barclays. Got the switcher cash from NatWest on April 10th and opened the Barclay a/c May8th so think the switch went through about 10 days later.

michaels

ValiantSon wrote: »

Why wait? If they haven't paid on time, then complain now. They have broken the terms of the offer.

What is the easiest route to complain / chase this?

ValiantSon

michaels wrote: »

What is the easiest route to complain / chase this?

A phone call, where you state you want to make a formal complaint. This will kick in their complaints procedure.

swindiff

Does this just require a one off deposit of £1500 that can be taken back out again. MSE states that its £1500/month, assuming that's a typo. Also no DD or SO need to be set up on the donor account to be switched?

Steve_xx

swindiff wrote: »

Does this just require a one off deposit of £1500 that can be taken back out again. MSE states that its £1500/month, assuming that's a typo. Also no DD or SO need to be set up on the donor account to be switched?

Yes it seems to be as you say, ie £1500 as one-off deposit into the account, no DD's or SO's required.

The terms of the offer are here:

£125 NatWest SWITCHER OFFER TERMS
Who’s eligible for the offer? New and existing National Westminster Bank Plc (‘NW’) customers are eligible for this offer if you meet the following conditions:

1. New customers must:

(a) apply for a Select, Reward, Reward Silver, Reward Platinum or Reward Black account (‘eligible current account’) via natwest.com, or through a NW branch, between 3 October 2018 and 3 December 2018. As part of that application, you must transfer a non-NW current account to your new eligible current account (which includes closing your non-NW current account and moving all your payment instructions to your eligible current account) using the online Current Account Switch Service; and

(b) after your eligible current account is opened, you must also:
(i) deposit £1,500 into your eligible current account; and
(ii) log into our online or mobile banking service, before 7 January 2019.

2. Existing customers who already have a NW Select, Reward, Select Silver, Reward Silver, Select Platinum, Reward Platinum, Black or Reward Black account (‘eligible current account’) opened prior to 3 October 2018, must:
(a) transfer a non-NW current account to your existing eligible current account (which includes closing your non-NW current account and moving all your payment instructions to your eligible current account) using the online Current Account Switch Service, or switch through a NW branch;

(b) deposit £1,500 into your eligible account; and

(c) log into our online or mobile banking service, before 7 January 2019.

What is the offer?

If you meet the conditions for this offer, we’ll pay £125 into your eligible current account by 8 February 2019, but please note: • If you close your eligible current account before this date, then the £125 won’t be paid. • You won’t be eligible for this offer if you’ve already taken advantage of a cash offer from NW and/or Royal Bank of Scotland plc (‘RBS’) between October 2017 and October 2018 for (i) opening a new current account and switching to NW/RBS or (ii) upgrading your existing NW/RBS current account. • Joint accounts will only be eligible for one payment. • You can only benefit from this offer once and we can withdraw it at any time.

What other conditions do you need to know?

You’ll be bound by Your Current Account Terms. This document contains all the terms applicable to your eligible current account, including any regular criteria you need to meet in order to keep your account and use the account benefits.

harz99

Thanks Steve_xx, that does seem correct although I've decided to bounce £1500 in and out until paid the £125 just in case.