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NatWest switch offer

24

Comments

  • money4sb
    money4sb Posts: 24 Forumite
    Third Anniversary 10 Posts Name Dropper
    Greg89 said:
    I've typed in my sc and acc num and not yet received a letter confirming the switch 

    All I have to do now is deposit £1250 and wait 7 sleeps?
    Pay in the £1250 right now then take it back out tomorrow.  Jumping through this hoop early on gets you the bonus quicker. 
  • Greg89
    Greg89 Posts: 352 Forumite
    Tenth Anniversary 100 Posts Combo Breaker
    I've received the email and all I have to do is deposit a value over £1250 and login to the app
  • Sabre65
    Sabre65 Posts: 1 Newbie
    Second Anniversary First Post
    How long do you need to keep the account open for once you receive the switch bonus?
  • Bridlington1
    Bridlington1 Posts: 4,135 Forumite
    1,000 Posts Third Anniversary Photogenic Name Dropper
    Sabre65 said:
    How long do you need to keep the account open for once you receive the switch bonus?
    Once you've got the £200 you are free to close it.
  • Stargunner
    Stargunner Posts: 1,036 Forumite
    1,000 Posts Fifth Anniversary Name Dropper
    Bridlington1 said:
    Sabre65 said:
    How long do you need to keep the account open for once you receive the switch bonus?
    Once you've got the £200 you are free to close it.
    Or you could keep it open which would allow you to open their regular saver that pays 6% interest. 
  • Bridlington1
    Bridlington1 Posts: 4,135 Forumite
    1,000 Posts Third Anniversary Photogenic Name Dropper
    Stargunner said:
    Bridlington1 said:
    Sabre65 said:
    How long do you need to keep the account open for once you receive the switch bonus?
    Once you've got the £200 you are free to close it.
    Or you could keep it open which would allow you to open their regular saver that pays 6% interest. 
    I would agree and you could also pay out 2 DDs each month from it and keep it for the reward account whilst you're at it.
  • Se1Lad
    Se1Lad Posts: 344 Forumite
    Part of the Furniture 100 Posts Photogenic Name Dropper
    Bridlington1 said:
    Stargunner said:
    Bridlington1 said:
    Sabre65 said:
    How long do you need to keep the account open for once you receive the switch bonus?
    Once you've got the £200 you are free to close it.
    Or you could keep it open which would allow you to open their regular saver that pays 6% interest. 
    I would agree and you could also pay out 2 DDs each month from it and keep it for the reward account whilst you're at it.
    Agreed - and if eligible for the premier reward version you can make £96 profit a year
  • atlantis187
    atlantis187 Posts: 1,554 Forumite
    Part of the Furniture 1,000 Posts
    What is the criteria for the premier reward?
  • ForumUser7
    ForumUser7 Posts: 2,525 Forumite
    1,000 Posts Third Anniversary Photogenic Name Dropper
    atlantis187 said:
    What is the criteria for the premier reward?
    https://www.natwest.com/premier-banking/products/current-accounts/premier-reward-account.html

    Income

    Pay a minimum £100k sole income or £120k joint income into a NatWest account

    Mortgage borrowings

    Have £500k minimum of mortgage borrowings with us

    Savings or investments

    A minimum of £100k savings or investments held with us
    If you want me to definitely see your reply, please tag me @forumuser7 Thank you.

    N.B. (Amended from Forum Rules): You must investigate, and check several times, before you make any decisions or take any action based on any information you glean from any of my content, as nothing I post is advice, rather it is personal opinion and is solely for discussion purposes. I research before my posts, and I never intend to share anything that is misleading, misinforming, or out of date, but don't rely on everything you read. Some of the information changes quickly, is my own opinion or may be incorrect. Verify anything you read before acting on it to protect yourself because you are responsible for any action you consequently make... DYOR, YMMV etc.
  • TheBanker
    TheBanker Posts: 2,253 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    ForumUser7 said:
    atlantis187 said:
    What is the criteria for the premier reward?
    https://www.natwest.com/premier-banking/products/current-accounts/premier-reward-account.html

    Income

    Pay a minimum £100k sole income or £120k joint income into a NatWest account

    Mortgage borrowings

    Have £500k minimum of mortgage borrowings with us

    Savings or investments

    A minimum of £100k savings or investments held with us
    In practice you'd need to meet the Income threshold. 

    Natwest's mortgage rates aren't generally the best so you'd save more than £96 per year by using a more competitive lender. And given their savings rates and the fact you'd be over the £85k FSCS thresholds, only a mad man would deposit >£100k into a Natwest savings account. Their investment proposition isn't competitive either. 
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