Natwest Business Banking Switch real ?

pkpk

Hi,
I have had my business banking with NatWest for a number of years and noticed that the recent junk mail seemed to be about switching to their competitors. I looked into it and there are various options they give where you receive £1000 of removing to other banks.

As I'm usually of the opinion that banks don't like to give their money a way so does anyone know if this is a authentic offer and anyone have an experience switching to any of the other banks?Co Op, Santander etc are on there.

Thanks
Paul

Zanderman

Yes, it's real. It's an incentivised scheme. If you've looked into it you'll have seen the various explanatory websites:

- https://supportcentre.natwest.com/Searchable/1132113772/What-is-Business-Banking-Switch.htm
- https://www.business.natwest.com/business/business-banking/business-bank-accounts/business-banking-switch.html

Etc

There's a video explainer on this one:

https://businessbankingswitch.natwest.com/#

Take your pick from what's on offer! And count yourself lucky you have a business bank with NatWest. Those who bank elsewhere don't get the offer!

Prism

Yes its real. It took me about 5 days and then another 2 or 3 for the £1000 to arrive

pkpk

Who did you end up going with
?

Prism

pkpk wrote: »

Who did you end up going with
?

Sorry for the late reply - Starling Bank, intially for the zero fees but the service and app has been great

kinmoo

Hi. Just thought I'd post here rather than starting a whole new thread.
I just 'switched' and went with Starling too, as it was quick and easy, and other banks (the high-street ones) seemed not as proactive in getting custom.

So, anyway. I've got the bonus for switching, and my question is, what do I put it down as for business purposes?
Is it taxable, what do I do about it? Ive only been in business for a year and am still finding my way around.
Thanks in advance.