Natwest Offer £125 to switch

javajim

I am wondering about minimum pay in to NatWest. If there is a short fall of say £150 would it be ok for a relative or friend to set up a direct debit to pay the £150 in to it and then I set up a direct debit to pay £150 back to them?
My apologies if this has been asked before
Thanks in advance

NotRichAtAll

i done the id check on my mobile and at the moment i have been waiting 3hrs for the return text, i did read somewhere that others have had issues with the way its done and have gone into a local branch with id and got it sorted there

MalF

I opened an account on Monday (to take advantage of the £50 Quidco). So that should be £175 to switch to them, and then another £100 to switch away from First Direct and their awful online banking system.

The whole process took about 10 minutes.

badger09

javajim wrote: »

I am wondering about minimum pay in to NatWest. If there is a short fall of say £150 would it be ok for a relative or friend to set up a direct debit to pay the £150 in to it and then I set up a direct debit to pay £150 back to them?
My apologies if this has been asked before
Thanks in advance

You cannot use direct debits like that, so I think you mean standing orders.

However, there is no need to involve anyone else. Simply transfer in say £1000 from your main account. Immediately transfer say £500 back to your main account. Then transfer £500 back in. Job done.
(It doesn't have to be those amounts, as long as the total going in is at least £1500)

NotRichAtAll

so should you have access to your account prior to the switch process been finished, i do have an account number etc.

eskbanker

NotRichAtAll wrote: »

so should you have access to your account prior to the switch process been finished, i do have an account number etc.

It depends on what you plan to use it for.

If it's your 'main' account that you rely on for paying bills, accessing cash, etc, then IMHO it would be rash to consider starting the switching process before you have full (and tested) access to it.

If, on the other hand, it's just a dummy account being used artificially to secure a switching incentive, while your main banking business is conducted elsewhere, then I can't see much of an issue with switching before access is fully available....

NotRichAtAll

eskbanker wrote: »

It depends on what you plan to use it for.

If it's your 'main' account that you rely on for paying bills, accessing cash, etc, then IMHO it would be rash to consider starting the switching process before you have full (and tested) access to it.

If, on the other hand, it's just a dummy account being used artificially to secure a switching incentive, while your main banking business is conducted elsewhere, then I can't see much of an issue with switching before access is fully available....

all i meant was should i be able to log in to the account on the app or online prior to the switch been complete? its a dummy account for the bonus only. at the moment 3 days in and not able to access the account at all.

cheers

eskbanker

NotRichAtAll wrote: »

all i meant was should i be able to log in to the account on the app or online prior to the switch been complete? its a dummy account for the bonus only. at the moment 3 days in and not able to access the account at all.

cheers

Yes, account opening and switching are two different processes, even though some banks try to make it appear seamless, so access isn't dependent on switching, especially since the target audience of 'proper' switchers will want/need a fully operational account before switching all their banking activities to it....

aj23_2

deadendwaterfall wrote: »

I've switched from a spare Barclays account to NatWest successfully and paid in £1600, and logged into online banking, so just need to wait for my £125 to be paid now.

Do you have to keep at least £1500 in it, or can you transfer £1500 in and then back out?

aj23_2

If your balance of your switch process is greater than £1500, does that count as funding it with £1500 to get the cash incentive? Or do they require an additional funding of £1500 in addition to your switch balance?