New Natwest / RBS / Ulster Bank £200 Switch Incentive

subjecttocontract

flaneurs_lobster said:

subjecttocontract said:

You're right, what have I got to loose. I will give it a try and transfer my Virgin current account to them. Presumably I'll get an opportunity to open their regular saver as well.

Absolutely. Remember to ask for switch at the same time as the application, can't open current account and then ask to switch.

That's confusing. The RBS website has 2 main options :
* Open an RBS bank account.
* Switch an existing bank account held elsewhere to an existing RBS account.

That suggests I should open an RBS account before I can switch.

danny13579

subjecttocontract said:

That's confusing. The RBS website has 2 main options :
* Open an RBS bank account.
* Switch an existing bank account held elsewhere to an existing RBS account.

That suggests I should open an RBS account before I can switch.

If you don't already have an account you open a new account and then do the switch at the end of the process.

pecunianonolet

subjecttocontract said:

flaneurs_lobster said:

subjecttocontract said:

You're right, what have I got to loose. I will give it a try and transfer my Virgin current account to them. Presumably I'll get an opportunity to open their regular saver as well.

Absolutely. Remember to ask for switch at the same time as the application, can't open current account and then ask to switch.

That's confusing. The RBS website has 2 main options :
* Open an RBS bank account.
* Switch an existing bank account held elsewhere to an existing RBS account.

That suggests I should open an RBS account before I can switch.

Switch option is provided during the application process and that's where the data has to be put in to be eligible. You can switch at any point later on, but that wouldn't trigger the bonus payment

flaneurs_lobster

danny13579 said:

subjecttocontract said:

That's confusing. The RBS website has 2 main options :
* Open an RBS bank account.
* Switch an existing bank account held elsewhere to an existing RBS account.

That suggests I should open an RBS account before I can switch.

If you don't already have an account you open a new account and then do the switch at the end of the process.

Yes, this. The T&C for the switch says (for new customers) "as part of your application, transfer a non-RBS current account to your new eligible account". It's one contiguous process.

atlantis187

Do I have to wait for the RBS card reader before I can pay in/out the £1250 required?

My switch completed today 

piker57

atlantis187 said:

Do I have to wait for the RBS card reader before I can pay in/out the £1250 required?

My switch completed today 

No so long as you’ve got all the details to be able to use the App, you can set up outbound payments so that you don’t have to leave the money there. I found there was an initial limit of £1,000 per day for a new outbound payee, so I’d do the transfer in & payments out over 2 days.

gt94sss2

If the account you are switching to RBS/NatWest already has £1250 in, does that meet the funding requirement?

dealyboy

NatWest: Just a note of my checkpoints for those interested in when you get the £200.

1. New customers

To get £200, you must:

(a) apply online for a NatWest Select 23/02/23, Reward, Premier Select or Premier Reward account (‘new eligible account’)

via natwest.com or the mobile app from 14th February 2023. The application must then successfully result in an

open account. Please note that in some cases, if you apply for a NatWest Select or Reward account and do not meet

criteria for that particular account type, we can open a Foundation account for you instead. If this happens you

will still be eligible for this offer if you also meet conditions 1(b), 1(c) and 1(d) below; 

(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 [if any] to your new eligible

account) using the Current Account Switch Service online or via the mobile app; completed 06/03/23

(c) deposit £1,250 into your new eligible account within 60 days of opening your new eligible account 03/03/23 in and out; and 

(d) log into our mobile banking service within 60 days of opening your new eligible account. 26/02/23

Within 7 calendar days of you meeting conditions 1(a), 1(b), 1(c) and 1(d) above, we’ll pay £200 into your new eligible

account 08/03/23. Your new eligible account must be open for us to pay £200 to you. We will not pay £200 after the new eligible

account is closed even if you’ve met all required conditions. 

rothesy

My switch to Natwest completed yesterday and £200 paid this morning.  This was opened 1 week after Ulster Bank application.  Heard nothing back from Ulster, I asked for my application to be re-sent and I am referred to branch (I am in Scotland so that won't be happening!) Ulster is as slow as a week in the jail!  

flaneurs_lobster

gt94sss2 said:

If the account you are switching to RBS/NatWest already has £1250 in, does that meet the funding requirement?

Don't know. Wait until it's switched into RBS/Natwest, withdraw it and re-deposit it. Just to make sure.