RBS Business account switch offer.

jimmy55

I must admit I've had pretty good service from RBS for my business account but the offer of £1000 and up to 2 years free banking to switch has me tempted! Has anyone else on here received the offer? It would be interesting to hear your thoughts.

eskbanker

Are you talking about an offer to switch to or from RBS? The title suggests the former but the first sentence implies the latter....

jimmy55

The scheme is to switch customers from RBS to one of a selection of other banks. Its incentivised and Government led to reduce RBS's market share .... all to do with the post crash Govt buyout of RBS.

kalsha

Yes, we got the letter from RBS offering different cashback from 5 banks - Clydesdale, The Coop, Metro, Santander and TSB.

Haven't decided anything yet but looking into it in the next few days. Did you get the same offer of banks?
Just out of curiosity, which bank have you decided to go for?

actd

Hmm, wish I'd have got that. However, separately, I've been running 2 separate bank accounts for a while, one barely used Post Office current account, so finally decided to do something about it and switched a couple of extra standing orders into Post Office (that was fun!!) and started a switch with RBS. The idea is that once it's open, I'll transfer most of my household bills to this and set up a standing order of minimum £1500 into this account to cover them - that should get me the switch bonus. Meanwhile, I'm still running my main account with Nationwide, which is where my salary goes, so I may then switch this to HSBC and get their switch bonus as well and keep this running. I find it easy to have a single lump sum coming out of my main account anyway to cover all bills and anything left is for me to use for leisure/savings, and I get two switching bonuses.
It also means, that in a year or so, I'm all ready to switch both again, should I wish to do so.

kalsha

Can I mention that the switching cashback offers mentioned above are only for business accounts - not personal accounts.

TfortheTillerman

So I moved over to the Coop a couple of months ago. Completely uninspiring and lousy Internet Banking. Key question is, has anyone had their payout via the Co-op yet? Would be interested how long I have to suffer this before the money arrives...

whatatwit

I currently have a business account with RBS and the offers for switching to another bank are about to close.
Can anyone share their experiences on switching and the offers provided by the other banks.

Prism

whatatwit wrote: »

I currently have a business account with RBS and the offers for switching to another bank are about to close.
Can anyone share their experiences on switching and the offers provided by the other banks.

I switched to Starling, super simple to do and got the bonus paid into my new account within a week. Its RBS offering the bonus so just choose the new bank based on cost and features

Zanderman

whatatwit wrote: »

I currently have a business account with RBS and the offers for switching to another bank are about to close.
Can anyone share their experiences on switching and the offers provided by the other banks.

I assume you mean that you have been directly offered the incentive? It is/was, iirc, only for business accounts that were due to switch to Williams & Glyns, so not all RBS business accounts.

whatatwit

Prism wrote: »

I switched to Starling, super simple to do and got the bonus paid into my new account within a week. Its RBS offering the bonus so just choose the new bank based on cost and features

Can you use a post Office to pay into Starling ?

I will have to look at their terms and conditions