Natwest Select account for switching incentive

frolic

Hi - I've never really opened an account for switching incentives, but I've decided to give it a try with Natwest select personal.natwest.com/personal/current-accounts/select_account.html

I've just opened a Starling account which I plan to switch to Natwest to get the £150. A couple of questions:

- the £1500 pay in requirement, is that for every month or a one off? The Natwest website says "You'll need to pay in at least £1,500 and log in to Online or Mobile Banking by 22nd of March 2019. We'll then credit your NatWest account by the 19th of April 2019.". However MSE says monthly.
- is there any requirement to keep the £1500 in the account for a certain period of time? or to keep the Natwest account open for a certain amount of time? I don't need the Natwest account, as I already have 3 bank accounts (main one with Barclays, 2 with Nationwide for the savings rates).

Thank you.

movilogo

Based on what Natwest says, it seems you don't need to regularly pay £1500. Once you get the bonus nothing stops you from withdrawing the money.

You also need to supply a current a/c which you want it to be closed as part of transfer (as per their T&C).

frolic

movilogo wrote: »

Once you get the bonus nothing stops you from withdrawing the money.

You mean nothing stops me from closing the account? As I don't think I need to keep the £1500 in the account until I get the £150 bonus? Can someone confirm please? Thanks.

SlovakianGuy

frolic wrote: »

You mean nothing stops me from closing the account? As I don't think I need to keep the £1500 in the account until I get the £150 bonus? Can someone confirm please? Thanks.

I hope so!
I pay £1500 into my NatWest each month but only for a while, then send it to Halifax, which also requires £1500 per month.

northwalesd

frolic wrote: »

The Natwest website says "You'll need to pay in at least £1,500 and log in to Online or Mobile Banking by 22nd of March 2019. We'll then credit your NatWest account by the 19th of April 2019.".

frolic wrote: »

You mean nothing stops me from closing the account? As I don't think I need to keep the £1500 in the account until I get the £150 bonus? Can someone confirm please? Thanks.

You need to keep the account open (though you don't need to keep the money in there) or else there will be no account for them to credit the bonus to.

ryannnking

You need to pay £1,500 into your Natwest Account. It doesn't matter if this is done in one payment, or split up, say three £500 transfer, for example.

- The £1.5k hasn't got to be in there for X amount of time. As long as at some point you have transferred £1,500 in and out, before 22nd March, you are in the clear. If you did not then receive the bonus after following the terms and conditions, you should be able to call them up and query this with them.
- Don't close the account until you have been credited with the £150 bonus.
- Regarding MSE saying monthly, I think this may be because the article hasn't been updated.

Ryan

adindas

If you had Natwest select account and you already closed it, could you open a new one and get another incentive.

I have a look on the their condition, I could not find any condition which prevent people to open a new account and get incentive.

Does anyone know or has tried it ?

aj23_2

frolic wrote: »

You mean nothing stops me from closing the account? As I don't think I need to keep the £1500 in the account until I get the £150 bonus? Can someone confirm please? Thanks.

No you don't. I haven't, anyway.