New Natwest / RBS / Ulster Bank £200 Switch Incentive

boingy

Middle_of_the_Road said:

boingy said:

Just an update to say that I've had the Ulster bonus today, despite having had bonuses from both NatWest and RBS accounts in the last few months (and despite both of those accounts still being open). I'm amazed (but happy) that they don't check. It took about 3.5 weeks in total. Chalk up another treble. 

ccdorset said:

keiran said:

A friend opened , switched and got £200 twice for Natwest and Ulster. (at more or less the same time)

But when he tried to open RBS (about the same time) they said they couldn't offer him an account.

Anyone had similar experiences or can explain?

(I do know, of course, that only one incentive is supposedly received, but we do know their systems aren't robust)

I've also received the RBS £200 switch offer today.   Despite having received a NatWest bonus previously.

Now I just have to decide whether to attempt Ulster. My credit reports have taken a hit recently with multiple applications, it's difficult to know when to stop!

I like switching bonuses, but with recent reports of 'commercial reason closures' wouldn't want to risk banks closing my accounts for taking advantage of their failure to check entitlement.
I do hope this doesn't come to that for those with multiple ineligible pay-outs.

Obviously a bank can close you down for any reason but those closures are vanishingly rare and they all have a back story of much more extreme behaviour than getting a bonus. Remember, no-one is lying or deceiving these banks for the bonuses. We're just meeting the conditions in the offer and leaving it for the bank to decide whether to pay out the bonus. It's their error and it's pretty easy for them to check eligibility if they chose to do so. It's also very easy to spot serial switchers. Our credit record shows how often we switch and how many accounts we have and the accounts we switch in are clearly not our main accounts. My conclusion is that they don't really care and that the team responsible for administering switching bonuses probably have a target to meet for new accounts and paying bonuses. Maybe they get enough "proper" customers to make it worthwhile although I've no idea how banks make any real money from a normal current account.

Yellowman

dealyboy said:

@Yellowman said:

dealyboy said:

Hi @Yellowman ... it's possible they will continue your switch anyway, considering you have received the account details. I remember I couldn't get one of my application's photo ids to work, but when I phoned I was told my application had passed the checks. I believe they perform other checks e.g. address and electoral roll.

I would give them a call, NatWest agents are UK based and quite capable. The fact that you have account details suggest to me that your application will complete and you will receive a debit card. Did you complete the details of the account and debit card you are switching?

Yes, I included my existing current account and debit card details in the online application.

I think it is most likely that your application and switch is still in progress. I would wait for a communication (probably e-mail) and that will tell you the next steps. NatWest are quite efficient so I would expect that in the next couple of working days.

If the communication states that your application can't proceed they will tell you what to do next.

You still have the option to phone customer service to check on the status given that you have the account details and reference.

Fingers crossed 

I telephoned NatWest and was told that photo ID is required for their £200 switching bonus.

The account number and sort code I was given can be held for 28 days if I wish to eventually acquire and provide photo ID.

Other forms of ID are allowable but without leading to a switching bonus.

DiamondLil

Thanks @dealyboy @masonic and @boingy; I'll apply and update here as to the results.

ccdorset

ccdorset said:

Thank you both. I don’t anticipate any significant applications coming up until around October 2024, when some of my balance transfers are up on my credit cards. Mortgage is on a fixed rate for another 4 and a half years.

The only thing that could come up is needing a loan for a new car, but I’m hoping it will last a little longer. 

I've gone for it and just applied for the Ulster account and switch. I will update here with any progress!

Netherspark

How long after completing the requirements does it take to be paid?

Munchkinsmum

grizzlegrizzle said:

Natwest, RBS and Ulster Bank have launched a new bank switch offer today! 

Here's what they say:

Apply online or via our mobile app to switch a current account held elsewhere into a NatWest account from 14th February 2023 to receive our offer of £200

Deposit £1,250 into your account and log into our mobile banking app within 60 days. App eligibility criteria apply

When you meet these conditions we’ll pay £200 into your eligible account within 7 days.

T&cs say that you're not eligible if you've received a switch incentive since October 1st 2017

Links:

https://www.natwest.com/current-accounts/switch-your-banking-to-natwest.html

https://www.rbs.co.uk/current-accounts/switch-your-bank-account-to-rbs.html#200-offer

https://www.ulsterbank.co.uk/current-accounts/switch-to-ulster-bank.html#switch1

Can I please clarify? I have a NatWest select account, I opened in 2008 as a student account so it has been student, graduate and whatnot until they converted it to select. Haven’t used it as main bank account for years.

Also have a Lloyds current account that isn’t used. No balance, no DD. Can I switch my existing Lloyds into my existing NatWest for the offer?

Shedman

Netherspark said:

How long after completing the requirements does it take to be paid?

Our switches to RBS completed yesterday (we'd already fulfilled the other bits whilst waiting for switch to happen) and incentive money was in today....impressive.  

boingy

All three were pretty quick for me, although process of opening the Ulster account was like about as fast as a herd of turtles stampeding though treacle. 

dealyboy

Munchkinsmum said:

grizzlegrizzle said:

Natwest, RBS and Ulster Bank have launched a new bank switch offer today! 

Here's what they say:

Apply online or via our mobile app to switch a current account held elsewhere into a NatWest account from 14th February 2023 to receive our offer of £200

Deposit £1,250 into your account and log into our mobile banking app within 60 days. App eligibility criteria apply

When you meet these conditions we’ll pay £200 into your eligible account within 7 days.

T&cs say that you're not eligible if you've received a switch incentive since October 1st 2017

Links:

https://www.natwest.com/current-accounts/switch-your-banking-to-natwest.html

https://www.rbs.co.uk/current-accounts/switch-your-bank-account-to-rbs.html#200-offer

https://www.ulsterbank.co.uk/current-accounts/switch-to-ulster-bank.html#switch1

Can I please clarify? I have a NatWest select account, I opened in 2008 as a student account so it has been student, graduate and whatnot until they converted it to select. Haven’t used it as main bank account for years.

Also have a Lloyds current account that isn’t used. No balance, no DD. Can I switch my existing Lloyds into my existing NatWest for the offer?

Hi @Munchkinsmum ... I don't see why not, you haven't received an incentive. In your case it's switching to an existing account, which is allowed, whereas for most of us, I think, we were opening whilst switching.

Go ahead, there's no harm in trying ... and let us know  .

atlantis187

I didnt get the natwest money as they said we had an incentive in 2008
The other RBS and Ulster went smoothly