NatWest switch offer

Harrogate89

I’ve recently made a switch to NatWest, in order to qualify for their £125 cash back you need to pay in £1500. Does anyone know if this needs to be in one transaction? Or can it be split into multiple?

jimjames

It depends what it says in the T&Cs but normally you could do 1500 x £1 if you wanted as long as you meet the criteria. If the T&Cs don't say one payment needed then you can do more than one payment

ddonq1412

When do natwest start paying out on this switch bonus

colsten

ddonq1412 said:

When do natwest start paying out on this switch bonus

It will state that in the switch offer T&Cs. Historically, several months after the switch.

NottinghamKnight

For the most recent natwest offer if you qualify for the payment it should be paid by the end of next week.

colsten

NottinghamKnight said:

For the most recent natwest offer if you qualify for the payment it should be paid by the end of next week.

I think that’s the date for some RBS and Ulster offers. The most recent Natwest offer pays later, sometime in Feb. Best to check the T&Cs of the offer used.

AbundantBudget

ddonq1412 said:

When do natwest start paying out on this switch bonus

Around 12th February

Ibliss

Regarding the £1500 pay in - which I have done - how l long do you have to maintain that balance? Or does it just require £1500 to have been deposited at some point?  I don't want to lose the switching bonus but at the same time the £1500 isn't earning any interest while it is sat in NatWest current account!

colsten

Ibliss said:

Regarding the £1500 pay in - which I have done - how l long do you have to maintain that balance? Or does it just require £1500 to have been deposited at some point?  I don't want to lose the switching bonus but at the same time the £1500 isn't earning any interest while it is sat in NatWest current account!

If you had to maintain a minimum balance for any length of time, this would be stated in the offer T&Cs. AFAIK, there is no such requirement.

Though you wouldn't lose an awful lot of interest if you kept the money in there for a few weeks. Even if you managed to get 1.5% on it, it would be around 6p a day.

AbundantBudget

Ibliss said:

Regarding the £1500 pay in - which I have done - how l long do you have to maintain that balance? Or does it just require £1500 to have been deposited at some point?  I don't want to lose the switching bonus but at the same time the £1500 isn't earning any interest while it is sat in NatWest current account!

There is a requirement of £1,250 for the Reward account, and you need to deposit it monthly. You can remove the money on the same day, you don't need to maintain the balance. 
From Natwest web-site 'To hold this account, you need to pay in £1,250 to an eligible NatWest account every month.'

Ibliss

AbundantBudget said:

Ibliss said:

Regarding the £1500 pay in - which I have done - how l long do you have to maintain that balance? Or does it just require £1500 to have been deposited at some point?  I don't want to lose the switching bonus but at the same time the £1500 isn't earning any interest while it is sat in NatWest current account!

There is a requirement of £1,250 for the Reward account, and you need to deposit it monthly. You can remove the money on the same day, you don't need to maintain the balance. 
From Natwest web-site 'To hold this account, you need to pay in £1,250 to an eligible NatWest account every month.'

Hi - I just have the 'no frills' account that doesn't require any monthly minimum funding - the £1500 was in reference to meeting the T&C for the £125 account switching bonus.