NatWest £125 switch incentive

Katiehound

Consumerist wrote: »

If you only want to qualify for the £125 incentive then it is a one-off payment

Yes, as I said I have applied for a Select account.
No, I don't need more DDs- I have just manged to juggle all those required when MrT removes the facility. Last one sorted yesterday!! whew

My plan is maybe, maybe hope for Halifax switch and then send it that way!
Only in it for the £125 handshake as they still owe me £40 from an error they made years ago!

Steve_xx

Katiehound wrote: »

Yes, as I said I have applied for a Select account.
No, I don't need more DDs- I have just manged to juggle all those required when MrT removes the facility. Last one sorted yesterday!! whew

You wont need any DD's setup if you have the Select account.

Katiehound

Steve_xx wrote: »

You wont need any DD's setup if you have the Select account.

Exactly. Why I chose Select not Reward

dave_dph

I applied for the Reward Account on the 14th and I feel like I've jumped through quite a few hoops until I received the debit card today. As yet, no PIN. This morning I received confirmation of my customer number via email, but I'm still waiting for the activation code.

I called Natwest on Thursday to express my dissatisfaction with the online application process in relation to switching in to Natwest. During the application I gave Natwest the details of my Santander account and a switch date of 23rd Jan was confirmed. As of Thursday 18th my new Reward Account still wasn't open, so how could the switch go ahead on the agreed date? The guy I was speaking to initially wanted to put me through to the switching team, but when I explained that the issue lies with the online application giving a switch date that cannot be achieved he agreed with me. With so many checks having to be carried out before the new account can be opened this eats into the 'seven working day' window required for the switch process. He agreed with what I was saying and said he'd pass my comments up to his manager.

I have only opened this account because of the incentive; previous issues with Natwest mean I have little confidence in their processes.

Steve_xx

dave_dph wrote: »

During the application I gave Natwest the details of my Santander account and a switch date of 23rd Jan was confirmed. As of Thursday 18th my new Reward Account still wasn't open, so how could the switch go ahead on the agreed date? The guy I was speaking to initially wanted to put me through to the switching team, but when I explained that the issue lies with the online application giving a switch date that cannot be achieved he agreed with me. With so many checks having to be carried out before the new account can be opened this eats into the 'seven working day' window required for the switch process. He agreed with what I was saying and said he'd pass my comments up to his manager.

I have only opened this account because of the incentive; previous issues with Natwest mean I have little confidence in their processes.

You're kind of implying that the Natwest account has to be opened within 7 days, or you won't get the incentive? That isn't the case, so if that's what you're thinking then you need not worry. The timer for the account to be setup is before 16 March.

dave_dph

Sorry no, I didn't mean that. I was pointing out that the online process shouldn't confirm a switch date if further checks are to be carried out before the account is open. As switching takes seven working days and my new account was not opened on day one, there is no way the switch can happen on the agreed 'day seven.'

gazapc

Delighted that they are also offering it to existing customers. My actual main current account is with Natwest. So i've asked a spare M&S current account to be 'switched in' to the existing Natwest rewards account. My normal pay will cover the deposit criteria.

I look forward to receiving the £125.

Steve_xx

gazapc wrote: »

Delighted that they are also offering it to existing customers. My actual main current account is with Natwest. So i've asked a spare M&S current account to be 'switched in' to the existing Natwest rewards account. My normal pay will cover the deposit criteria.

I look forward to receiving the £125.

By doing so, won't you lose access to the M&S Monthly Saver, or aren't you bothered about it?

Consumerist

Steve_xx wrote: »

By doing so, won't you lose access to the M&S Monthly Saver, or aren't you bothered about it?

If it's a toss-up between the interest on the Monthly Saver in a year's time and £125 by 13 April then I think I would go for the £125.

harz99

Consumerist wrote: »

If it's a toss-up between the interest on the Monthly Saver in a year's time and £125 by 13 April then I think I would go for the £125.

Yes, I took that same view when I switched M&S to YB, no comparison really (unless you are nearly at the end of the 12 months regular saver period as leaving drops the interest rate down to virtually nothing).