NatWest £125 switch incentive

twiglet98

Katiehound wrote: »

If you don't want to try the 'Reward' cashback route-for example too many DDs already you can choose a Select account

Thanks KH, I deleted my post after reading the NW T&C and realising that whilst the one-off £1500 is sufficient to earn the switching bonus for the Select account, the £1500 PER MONTH is a condition, along with a £2/month fee, for the Reward account. Sorry, too hasty!

Consumerist

KTF wrote: »

Premier is for 'high net worth' individuals (£100k+ income, etc). I cant see why anyone here would bother applying for them just to get the switching offer.

But what is a PRIVATE account? As far as I can see, it is not possible to deliberately apply for a Private account even if you wanted to.

Have I missed something?.

moneyfoolish

If I switch an account with £1500 in it, do I still have to add another £1500?

Consumerist

moneyfoolish wrote: »

If I switch an account with £1500 in it, do I still have to add another £1500?

No. £1,500+ switched in should cover it.

Edit
That's my guess, anyway. Maybe it would be wise to confirm with NatWest Switching team. Best to avoid the Sales team if earlier posts are anything to go by.

EachPenny

Consumerist wrote: »

But what is a PRIVATE account? As far as I can see, it is not possible to deliberately apply for a Private account even if you wanted to.

Have I missed something?.

It is a bit of a mystery still. More details here and in the following two or three pages:-
https://forums.moneysavingexpert.com/discussion/comment/73720497#Comment_73720497

Consumerist

EachPenny wrote: »

It is a bit of a mystery still. More details here and in the following two or three pages:-
https://forums.moneysavingexpert.com/discussion/comment/73720497#Comment_73720497

Well, it seems we are being told different things. I was told by the Switching team (not the Sales team) that my application would be converted into a standard Reward account since I didn't qualify for the mysterious "PRIVATE" account.

I feel a complaint coming up soon.

Consumerist

EachPenny wrote: »

Did you select an option for a PRIVATE account, or did it just happen?

If it was the switching team you spoke to then you might want to go back to the account opening team and ask for clarification. The different teams don't appear to be fully aware of each other's policies and processes.

Sorry, I seem to have missed a number of posts in this thread.

It just happened. After speaking to the Switching team I've decided to return the signature form and await developments. If a Private account is eventually opened then I will close it and put in a complaint seeking compensation for the lost incentive payment and any monthly fees they try to charge.

claire07

As veryintrigued and Yorkshireboy just when I think mine is opened I get duplicate emails, texts and extra signature requests through the post telling me I've been approved and the account will be open shortly.


It's getting a bit like Groundhog Day (none of them have an actual account number on so I can't tell whether they all apply to the same account).

binaryuniverse

Switch complete this morning. Can't see my direct debits yet, but they're not exactly a requirement.

Now to pay in £1500 and done.

Nebulous2

I have an account, at least they keep telling me by email and text that I have, but I'm seriously lacking in numbers. I have an application number, part of a customer number - with Xs replacing the last 4 digits and a digidocs password.

What I don't have is a full customer number, a sort code or account number. Hopefully some of these will arrive with my card.