NatWest September 2022 switch offer

swanfan02

• Apply online or via our mobile app to switch a current account held elsewhere into a NatWest account between 13th September and 3rd November 2022 at 5pm to receive our offer of £175.
• You must also deposit £1,250 into your account, once opened and log into our mobile banking app before 16th December 2022. App eligibility criteria apply.

If you meet these conditions, we’ll pay £175 into your eligible account by 12th January 2023.

swanfan02

https://www.natwest.com/current-accounts.html?intcam=HP-P1-DEF-Default

km1500

You won’t be eligible for this offer if you’ve already taken advantage of a cash switcher offer from NatWest, Royal Bank of Scotland and/or Ulster Bank between October 2017 and 13th September 2022 .......

t1redmonkey

km1500 said:

You won’t be eligible for this offer if you’ve already taken advantage of a cash switcher offer from NatWest, Royal Bank of Scotland and/or Ulster Bank between October 2017 and 13th September 2022 .......

Probably disqualifies most of us serial switchers then! 😢

WillPS

km1500 said:

You won’t be eligible for this offer if you’ve already taken advantage of a cash switcher offer from NatWest, Royal Bank of Scotland and/or Ulster Bank between October 2017 and 13th September 2022 .......

In practice you'll get 1 reward per brand unless they've tightened up since previous offers.

Every time I see this I hope they start rolling that start date forward like Halifax and Lloyds do. Hasn't happened yet though, maybe 6 years will be the magic number.

homemover2020

There doesn't seem to be a mention of the minimum number of direct debits that need to be transferred across as part of the switch. Do you need to transfer any?

PRAISETHESUN

Full terms linked here: https://www.natwest.com/content/dam/natwest_com/currentaccounts/downloads/Q3Switcher_NW_TCs_2022FINAL.pdf

Who’s eligible for the offer?

New and existing National Westminster Bank Plc (‘NatWest’) customers are eligible for this offer if you meet the following conditions:

1. New customers To get £175, you must:
(a) apply online for a NatWest Select, Reward, Premier Select or Premier Reward account (‘new eligible account’) via natwest.com or the mobile app between 13th September 2022 and 3rd November 2022 by 5pm (your application must successfully result in an open account); and
(b) as part of your application, transfer a non-NatWest current account to your new eligible account (which includes closing your non-NatWest current account and moving all your payment instructions to your new eligible account) using the Current Account Switch Service online or via the mobile app; and
(c) after your new account is opened and before 16th December 2022, deposit £1,250 into your new eligible account and log into our mobile banking service.

If you meet these conditions, we’ll pay £175 into your new eligible account by 12th January 2023.

2. Existing customers If you already have a NatWest Select, Reward, Reward Silver, Reward Platinum, Premier Select, Premier Reward or Premier Reward Black account (‘existing eligible account’) opened prior to 13th September 2022, to get £175 you must:

(a) by 5pm, 3rd November 2022 transfer a non-NatWest current account to your existing eligible account (which includes closing your non-NatWest current account and moving all your payment instructions to your existing eligible account) using the Current Account Switch Service online or via the mobile app; and

(b) before 16th December 2022, deposit £1,250 into your existing eligible account and log into our mobile banking service. If you meet these conditions, we’ll pay £175 into your existing eligible account by 12th January 2023.

Please note
• No payment will be made to you if you:
o Apply for and switch your account to us in branch or over the phone; or
o close your new or existing eligible account before 12th January 2023; or
o only convert your account to an eligible account or upgrade to one of our packaged accounts.

You must meet all of the conditions of the offer to get your £175. (New customers must meet all of the conditions in Section 1 and Existing customers must meet all of the conditions in Section 2). 

If you upgrade or downgrade your new or existing eligible account to another existing eligible account type within the offer period, you’re still eligible to receive payment so long as you continue to meet the conditions of the offer.

• You won’t be eligible for this offer if you’ve already taken advantage of a cash switcher offer from NatWest, Royal Bank of Scotland and/or Ulster Bank between October 2017 and 13th September 2022.
• Joint account holders will only be eligible for one payment.
• You can only benefit from this offer once, meaning that even if you apply, successfully open an account, and meet the conditions of this offer for more than one eligible account, you’ll only receive one payment.
• We can withdraw this offer at any time.

What else do you need to know? You’ll be bound by Your Current Account Terms, which contain all the terms applicable to your eligible current account, including any regular criteria you need to meet to keep your account and use the account benefits.

PRAISETHESUN

homemover2020 said:

There doesn't seem to be a mention of the minimum number of direct debits that need to be transferred across as part of the switch. Do you need to transfer any?

If it's not mentioned, there's no requirement. See the terms I linked above for the full details.

km1500

t1redmonkey said:

km1500 said:

You won’t be eligible for this offer if you’ve already taken advantage of a cash switcher offer from NatWest, Royal Bank of Scotland and/or Ulster Bank between October 2017 and 13th September 2022 .......

Probably disqualifies most of us serial switchers then! 😢

certainly disqualifies me.