When can I close my account after incentive?

LavenderLamb101

Got my £200 from NATWEST today, actually despise the app and prefer First Direct's!

Question is, how long do I have to wait to move?

eskbanker

Unless there's anything in the offer terms about retaining it for a specified period of time, you're free to move!

Rob5342

I applied for my next account the morning I got my Halifax bonus.

dealyboy

@LavenderLamb101 ... I have read that many regular switchers do close their new accounts shortly after receiving the incentive, dependent on the offer terms. In the case of NatWest there is no restriction.

A couple of things ...

- It may be worth sticking around for the NatWest Digital Regular Saver account paying 6.17% AER.
- There is no harm in keeping the Natwest Reward account open, it could be useful as a 'donor' in future.
- There is the possibility of opening/closing accounts in quick succession being seen as an unwelcome type of customer, by others, but I have no evidence that it has actually influenced any decisions.

Have you considered the other two banks in the NatWest group, namely RBS and Ulster Bank for switching incentives? RBS very similar to NatWest. I would suggest not using the NatWest account for switching to one of these though, it raises a flag.