NatWest £175 Reward

thesurveyor

Hi All,

Quick question,

ive recently opened a NatWest account for the £175 switch reward but I can’t seem to find any info on the £1500 transfer.

Does the £1500 need to remain in the account or can you transfer it and put?

Thanks,

L

soulsaver

In and immediately out is fine - but not from another of your NWst accounts.

iamnotasoldier

Hi 
Do you know if the £1250/month pay in is required over & above the £1500 pay in on the first month ? 

PRAISETHESUN

iamnotasoldier said:

Hi 
Do you know if the £1250/month pay in is required over & above the £1500 pay in on the first month ? 

If you pay in £1500 in the first month for the switch incentive then this will also satisfy the £1250 monthly pay in requirement for that month. There is no need to pay in twice to qualify for the switch incentive.

iamnotasoldier

Thank you ! That's what I thought but sometimes these things are worded a bit ambiguous !

PRAISETHESUN

iamnotasoldier said:

Thank you ! That's what I thought but sometimes these things are worded a bit ambiguous !

Just make sure you pay in after your switch completes. Paying in earlier in the month will satisfy the monthly pay in requirement but won't meet the switch requirement unless it has completed - I learnt that the hard way with an incentive from Halifax

iamnotasoldier

PRAISETHESUN said:

Just make sure you pay in after your switch completes. Paying in earlier in the month will satisfy the monthly pay in requirement but won't meet the switch requirement unless it has completed - I learnt that the hard way with an incentive from Halifax

Yeah my pay in will come from my old account I am switching from, which is why I thinking "Do I need to now satisfy the month pay in as well here ?". A bit steep if they were expecting people to pay in £1500 then pay in another £1250 ! If I remember rightly, the account I am switching from, I had a similar question at the start of that, which was also opened with a switch, & was advised no the balance transfer counted as my monthly pay in. Didn't have a opening pay in amount on that one so this account had me thinking ! Thanks for your advice - saved me either phoning or using the web chat. 

superthrift

I have just opened a NatWest Select account, switching from M&S Bank. The account I am switching has a balance of around £2,000.  The 'Switch' Offer Terms mention that £1,500 should be deposited before 10th May 2020. However, I can't see anything about a monthly commitment. I see above that £1,250 is mentioned but that doesn't appear on the documentation that I am looking at. Am I missing something? I'm wondering if I have printed off old documentation?

iamnotasoldier

superthrift said:

I have just opened a NatWest Select account, switching from M&S Bank. The account I am switching has a balance of around £2,000.  The 'Switch' Offer Terms mention that £1,500 should be deposited before 10th May 2020. However, I can't see anything about a monthly commitment. I see above that £1,250 is mentioned but that doesn't appear on the documentation that I am looking at. Am I missing something? I'm wondering if I have printed off old documentation?

Yeah if you look at web page & scroll down, you should see this box

This certainly on the Rewards account detail, if that is what you are opening. This is what confused me at first, as I thought it was £1500/mth or £1250/mth - didn't know which ! Then realised it was an initial pay in of £1500 then £1250/m. 

EarthBoy

The requirement to pay in £1250 each month only applies to the Reward account.  There's no monthly pay-in requirement for the Select account.

billy2shots

So according to the t&c’s, current holders of a NatWest account  can still switch as long as you are Pre Feb (12th from memory) 2020. 

Then i I get a little confused. It says about switching into your current NatWest account. Does that mean the non NatWest account being switched will merge into my current NatWest account?

I've never seen switching offers where you can stipulate a merger. Presumably I don’t need to give account numbers or sort codes and the system will just recognise I have a current account and automatically merge?