New NatWest Switching offer starting 24th Jan 2022

RN61

Brewer21 said:

RN61 said:

Historically they haven't been very diligent at investigating whether you've had a switch payment before....

I've had an account since 2017 (for the switch offer) trouble is it's a long time to wait, until June 9th for them to say sorry you won't get the incentive.

Natwest and other banks have kindly given me, other members of my family (and no doubt numerous members of this forum) repeated switching bonuses for opening new accounts and switching spare ones in - because they rarely check thoroughly enough to see if you've breached date requirement of the T&C. Once bonus paid, the account is switched elsewhere for the next reward. But you're right, if you try to switch into an account that you've previously received a reward in you are likely to be thwarted. 

oldagetraveller1

cx6 said:

Let's put it this way - I wouldn't put my 'main' current account there.

Why? Please expand.

I switched to them last year to take advantage of the then offer, £100 due next month.

The switch went very smoothly and so far there have been no issues at all with Direct Debits, debit card transactions or the operation of the account either online or through their app..

cx6

The main reason (for me) is their tendency to block (faster) payments - I have had a lot of trouble in the past trying to pay money into new savings accounts only for the transfer(s) to be blocked by their fraud filters. At times I felt I was treading on eggshells every time I made a large-ish payment.

I switched to First Direct and have never had it happen (even once) since then.

But I agree their DDs, card payments etc were fine.

anotheruser

Maybe they're a little more scared as wasn't it Natwest that were fined a huge amount years ago?
Their banking went down a few years back too - I added it to the Wiki page the same day.

However, it's many years later now so perhaps it's time to give them a try.
Not sure if Lloyds pays any interest, but guaranteed £3 a month is it?  Not bad in todays climate.

gsmh

I moved to Royal Bank of Scotland (same as NatWest) in May and I was surprised at how good the bank is. I have been with pretty much every player over the years and this is head and shoulders the best of all the banks I've had accounts with. What I like is that it does everything well - the best online banking for starters. It has seemed that other banks have negatives, maybe things they don't do because they're smaller, or the latest advances they will take an age to implement, if they ever do. I thought Triodos would be a good, ethical option - but it has no Apple or Google Pay, faster payments that can take two days (and always several hours) and so on. If you want the full package, NatWest is a good bet. You can even withdraw cash using just your phone. If I need to speak to someone on the phone I can and have never been in a huge queue. Highly recommended.

starray

Can anyone please tell me how long I have to leave the £1250 in there in order to get the bonus?  And do I have to pay in the £1250 all in one go? I can't find the answer in the Natwest Terms and Conditions.  Thanks

starray

cx6 said:

The main reason (for me) is their tendency to block (faster) payments - I have had a lot of trouble in the past trying to pay money into new savings accounts only for the transfer(s) to be blocked by their fraud filters. At times I felt I was treading on eggshells every time I made a large-ish payment.

I switched to First Direct and have never had it happen (even once) since then.

But I agree their DDs, card payments etc were fine.

Wow - I would join Natwest just for that - that they block faster payments. It means that they take fraud security seriously and my money is safer.  More inconvenient obviously, but safer. 

PRAISETHESUN

starray said:

Can anyone please tell me how long I have to leave the £1250 in there in order to get the bonus?  And do I have to pay in the £1250 all in one go? I can't find the answer in the Natwest Terms and Conditions.  Thanks

If the terms don't specify, then there's no minimum amount of time you need to keep the money in the account for. You can transfer in and straight back out again if you'd like. There's also no requirement that it needs to be £1250 in one go - could be 2 x £625, 4 x £312.50, 1250 x £1, etc

anotheruser

How are they on opening joint accounts?
Is it easy?

Lloyds Bank make you go in and watch a video - even if you have five joint accounts already, paperwork signed by both people, still need to take some ID in and sit through a warning video.

dcs34

Thoughts on existing customers opening a new account and switching into that? T&Cs talk about existing accounts or new customers but not the third permutation.