£175 Natwest switch and stay conditions

HardCoreProgrammer

I recently transferred my daily spending current account from another bank to Natwest.

The conditions to receive the £175 bonus are here:
https://personal.natwest.com/content/dam/natwest/personal/current-accounts/documents/april19-nw-switcher-terms-conditions.pdf

Does anyone happen to know:
1. before 12 July 2019: deposit £1,500 into your eligible current account - My old current had more than this balance, which was transferred over. Do I still need to make a deposit, or would the balance transfer be enough?
2. before 1 June 2020, use your debit card linked to your eligible current account at least once per month - what counts as "use your debit card"? Do I have to use it to buy something (in a shop or over the internet?), or does putting it in a cash machine and checking the balance count as "use"?

Thank you.

c1403

The person I spoke to at Nat West told me it needed to be a deposit so I gathered the balance from the old account wouldn't be a deposit??

We have recently switched and the new account was open for a few days before our switch date and we got all our debit cards etc before so I transfered the balance from my old account to rhe new account as a money transfer and left enough for my final direct debits. On switching day they transfered about £12 I left in the old account.

Not sure about the second question, I would assume it means use it to make a purchase/money transfer or similar.

LobsterMemory

2 Of course checking your balance doesn't count as use.

You're getting £175 for nothing. Just buy a pint of milk on the card. Job done.

PRAISETHESUN

You will need to pay in £1500 from an external account - money moved as a part of the switching process is treated as some sort of balance transfer rather than a payment so won't meet the criteria of this offer. There is nothing stopping you transferring your balance from RBS to another account and then immediately back again to meet the criteria however. As for the debit card, "using" your card means that you make a transaction with it - online/in person won't matter, as long as it gets used. I'm not 100% sure whether or not you could just use it to withdraw £20 cash from an ATM and then immediately run to the bank to deposit it again, but it's probably safer to make a purchase in case that isn't meeting the T&Cs.

HardCoreProgrammer

Thank you everyone for your replies.

Just to be safe, I will transfer £1500 into the account, and then buy something with the debit card every month (need to be online for one month because I will be out of the country).

leeblack83

I am waiting on the first payment aswell, i have already transferred £1500 into account and logged on using mobile app.

my understanding is thats all you need to do to get the £125 payment, but then need to use your card every month up to june 2020 to get additional £50 payment

leeblack83

just checked with natwest today on twitter, they confirmed no need to use debit card for initial payment, only use card if you plan to stay and get extra £50 later

just need to pay in £1500 and login to online or mobile banking by 12th july

c1403

Sorry although I've already answered above.

Will salary payments into the 'new' account count towards the £1500 deposit that needs to be made. My husband is paid weekly.

badger09

c1403 wrote: »

Sorry although I've already answered above.

Will salary payments into the 'new' account count towards the £1500 deposit that needs to be made. My husband is paid weekly.

Yes, of course they will. What makes you think they wouldn't be counted?

julie777

HOW LONG to apply and complete opening?
It has to be done by 6th December for £150 cashback but I don't know how long they will keep me waiting!
Perhaps I should wait and look for a similar offer.

Katiehound

julie777 wrote: »

HOW LONG to apply and complete opening?
It has to be done by 6th December for £150 cashback but I don't know how long they will keep me waiting!
Perhaps I should wait and look for a similar offer.

Presumably if you have applied and started the switch process before the 6th then you will qualify. If there has been an unforeseen delay the bank usually honours the deal- well that has been my experience , not with NatWest 'though..
However you need to ask the bank!