NatWest £175 Reward

Ed-1

billy2shots said:

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?

Switching doesn't involve opening a new account. It involves transferring payments, direct debits etc. from one current account with Bank A to another with Bank B.

If you already have an account with both banks, you don't need to open another to switch.

PRAISETHESUN

billy2shots said:

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?

Account opening and account switching are two separate processes. You can open an account without switching and you can switch without opening a new account. Banks usually entice new customers to switch when they initially open an account, but you can in fact switch at any point. 

The switch process will require details of your old and new accounts (sort code, account number, and usually a debit card number too) since you need to specify which account you are switching where

billy2shots

What about if the current Nawest account you hold was done via a switch. Can you switch another outside account into that?

EarthBoy

billy2shots said:

What about if the current Nawest account you hold was done via a switch. Can you switch another outside account into that?

Yes, you can switch any number of outside accounts into a single current account.  I would only do them one at a time, though, or it could get confusing.  

afis1904

If anyone is interested: The T&C's say that if you open an account now you have to switch at application but I checked with Nat West and if you switch at any time between now and the 2nd of April you'll be fine.

tryin

Does the switch have to complete before 2nd of April, or just be requested? And does the account open immediately online?

oli356

tryin said:

Does the switch have to complete before 2nd of April, or just be requested? And does the account open immediately online?

My account (existing customer) was opened 'immediately', at least I got an acc number/sort code. It took a few days for the account to show up online though and in the app. 

Hammer_Time

Hi All, to qualify for the cashback rewards,  I believe you need to log in at least once a month for a £1.00 cashback and have at least 2 D/D for the £4.00 cashback. However do the D/D need to come out monthly or would yearly be okay?

YorkshireBoy

Hammer_Time said:

Hi All, to qualify for the cashback rewards,  I believe you need to log in at least once a month for a £1.00 cashback and have at least 2 D/D for the £4.00 cashback. However do the D/D need to come out monthly or would yearly be okay?

Reading the Reward conditions will both correct your belief, and answer your question. Because if you get it wrong you'll be making the grand total of £4 per year for your efforts.

Hammer_Time

Thanks Yorkshireboy, so let me see if I understand the t/c, reward fee £2.00 a month, £1.00 for logging in, 2 d/d coming out for £2.00 or more for £4.00 reward and of course £1250 paid in a month. So I should earn a reward of £3.00 per month.