RBS switch offer

[Deleted User]

Contrary to this website which states that to qualify for the £150 switch offer, you have to open an RBS Rewards account, their T&Cs state it can be any of these:
1. New customers

To get £150, you must:

(a) apply online for an RBS Select, Reward, Premier Select or Premier Reward account (‘new eligible account’)

via rbs.co.uk or the mobile app between 3rd February 2022 and 21st April 2022 by 5pm (the application must then successfully result in an open account.

2. Existing customers

If you already have an RBS Select, Reward, Reward Silver, Reward Platinum, Premier Select, Premier Reward or

Premier Reward Black account (‘existing eligible account’) opened prior to 3rd February 2022, to get £150 you must:

(a) by 5pm, 21st April, transfer a non-RBS current account to your existing eligible account (which includes closing

your non-RBS current account and moving all your payment instructions to your existing eligible account)

using the Current Account Switch Service online; and

(b) before 26th May 2022, deposit £1,250 into your existing eligible account and log into our mobile banking service.

This is useful to know as the Select account does not have fees to pay, it's just a normal basic account. 

PRAISETHESUN

I started a thread on this the other day, but I agree that it's always worth looking at the actual T&Cs rather than the headline offer: https://forums.moneysavingexpert.com/discussion/6334005/rbs-150-switch-incentive-feb-2022

The Rewards account is a net £3/month if you meet all the terms for the rewards, but I agree that the Select account is probably easier if all you are doing is looking for a quick switch bonus.

eskbanker

bexoxo60 said:

Contrary to this website which states that to qualify for the £150 switch offer, you have to open an RBS Rewards account

[...]

This is useful to know as the Select account does not have fees to pay, it's just a normal basic account. 

https://www.moneysavingexpert.com/banking/compare-best-bank-accounts/#switch inevitably can't reproduce the full offer Ts & Cs but does make it clear that Select is included:

New and existing customers get £150 to switch, plus up to £36/year cashback on top. The NatWest Reward* and RBS Reward* accounts give switchers £150 upfront, plus £3/month (it's £5/month but with a £2/month fee) every month they use the mobile app and pay out two £2+ direct debits. Or, if you just want the £150, you can switch to the fee-free NatWest Select* or RBS Select*. With all of these accounts you can open a linked 3% regular savings account, where you can save up to £50/month.

Daliah

bexoxo60 said:

This is useful to know as the Select account does not have fees to pay, it's just a normal basic account. 

"Basic account" has a special meaning in the banking world. The Natwest basic account is called Foundation account, and is not subject to their switch offer.