NatWest £125 switching bonus

PRAISETHESUN

Just in case anyone is interested, NatWest has brought back their £125 switching bonus. It looks like it might be a while until it pays out (they state they'll pay by 8th Feb 2019!!!!!), but its open to new and existing customers who haven't had a switching bonus from NatWest/RBS before. T&Cs below:

https://personal.natwest.com/personal/current_accounts.html#SwitchNW

Doesn't look like there are any requirements for DDs, just make a pay in of £1500 (can be in multiple payments) and log into online banking before 7th Feb 2019.

:beer:

harz99

Terms & conditions from the offer, no DD/SOs required to be paid out.


£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.

Cotta

Good offer, NatWest don't have any decent products unfortunately.

badger09

Cotta wrote: »

Good offer, NatWest don't have any decent products unfortunately.

So, switch, get the incentive and move on:cool:

societys_child

PRAISETHESUN wrote: »

Doesn't look like there are any requirements for DDs, just make a single pay in of £1500 and log into online banking before 7th Feb 2019.

Thanks :j



Does the £1500 have to be made in one single payment? Or could it be dripped in before Jan 7th?


Just thought, if the account your using to switch, had £1500 balance, would that cover it, or would you need to pay another £1500 in?


Just thinking out loud . . .

harz99 wrote: »

(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.

PRAISETHESUN

NatWest wrote:

To get the £125 cashback, do I have to pay in £1,500 as one payment?

The £1,500 can be paid into your account as one payment or multiple smaller payments, but the total amount must be at least £1,500 before 3rd December.

Taken from their FAQ page - it would seem that it doesn't need to be a lump sum payment.

I suspect it would need to be a separate payment from the switch, which is usually treated as a balance transfer. There is nothing to stop you paying in £1500 and then immediately transferring it back to the original account however

badger09

PRAISETHESUN wrote: »

Taken from their FAQ page - it would seem that it doesn't need to be a lump sum payment.

I suspect it would need to be a separate payment from the switch, which is usually treated as a balance transfer. There is nothing to stop you paying in £1500 and then immediately transferring it back to the original account however

Your opening post, quoted by society's child above, is misleading, since you say "a single pay in of £1500":cool:

ess0two

Dumb question, is a savings account switch eligible,info details current accounts.

PRAISETHESUN

badger09 wrote: »

Your opening post, quoted by society's child above, is misleading, since you say "a single pay in of £1500":cool:

Noted - thanks for point that out I've edited my original post

PRAISETHESUN

ess0two wrote: »

Dumb question, is a savings account switch eligible,info details current accounts.

No such thing as a dumb question in my book.
Unfortunately the Current Account Switch Service (CASS) does exactly that, switches current accounts. Savings account cannot be switched under the scheme, and cannot be used to get the switch bonus

alandaniel132

It need to switch to Reward account and need monthly £2 fees. not that worth.
last time it use to be basic current account and no monthly fees