NatWest/RBS/Ulster £200 Switching Offer 15/2/2024-2/4/2024

RG2015

I have seen the pay in requirement of £1,250 within 60 days of switching that must remain in the account for 24 hours. This can, however be multiple deposits totalling £1,250.

Logically, this would involve paying in a total of at least £1,250 and subsequently holding a balance of at least £1,250 twenty-four hours later.

Then one has to ask if the 24 hours include weekends and bank holidays. As ever, banks have conditions that are clear as mud. 

danny13579

anna42hmr said:

Just wondering, i am just waiting for my savings payout from the Coop switch and the switch offer for TSB (both of which should be paid by 29th in theory, given that its a bank holiday have a feeling may be later than that.  

I want to give the Natwest one ago, however in case it is pulled by time the other two pay out, is it worth giving it a go starting the application process now? can you submit the application for the switch after the fact, if not do they let you chose a switch date (as i recall from RBS in the past wasn't given an option to chose before?) and will the bank hols affect the 7day switch timescale (if so moving it 2 more days later than it would be if next friday and following monday were not a bank holiday??)

You can open your RBS account and start your application to switch in at a later date (into an existing account), but to be eligible for the offer you have to start your switch before the offer is withdrawn, though banks normally give some notice if they're withdrawing the offer.

RBS don't offer a range of switch dates, they choose the closest one to the date you request your switch.

danny13579

RG2015 said:

I have seen the pay in requirement of £1,250 within 60 days of switching that must remain in the account for 24 hours. This can, however be multiple deposits totalling £1,250.

Logically, this would involve paying in a total of at least £1,250 and subsequently holding a balance of at least £1,250 twenty-four hours later.

Then one has to ask if the 24 hours include weekends and bank holidays. As ever, banks have conditions that are clear as mud. 

You don't have to hold a balance of £1,250 at all. You could just have a balance of £25 in the account, keep in in there for 24 hours, withdraw it and re-deposit it for another 24 hours, and do this everyday for 50 days.

RG2015

danny13579 said:

RG2015 said:

I have seen the pay in requirement of £1,250 within 60 days of switching that must remain in the account for 24 hours. This can, however be multiple deposits totalling £1,250.

Logically, this would involve paying in a total of at least £1,250 and subsequently holding a balance of at least £1,250 twenty-four hours later.

Then one has to ask if the 24 hours include weekends and bank holidays. As ever, banks have conditions that are clear as mud. 

You don't have to hold a balance of £1,250 at all. You could just have a balance of £25 in the account, keep in in there for 24 hours, withdraw it and re-deposit it for another 24 hours, and do this everyday for 50 days.

Interesting, I hadn’t considered that. I still maintain that the condition is unclear.

danny13579

RG2015 said:

danny13579 said:

You don't have to hold a balance of £1,250 at all. You could just have a balance of £25 in the account, keep in in there for 24 hours, withdraw it and re-deposit it for another 24 hours, and do this everyday for 50 days.

Interesting, I hadn’t considered that. I still maintain that the condition is unclear.

                                

RG2015

danny13579 said:

RG2015 said:

danny13579 said:

You don't have to hold a balance of £1,250 at all. You could just have a balance of £25 in the account, keep in in there for 24 hours, withdraw it and re-deposit it for another 24 hours, and do this everyday for 50 days.

Interesting, I hadn’t considered that. I still maintain that the condition is unclear.

                                

Excellent! That is clear, although I hadn’t seen this particular presentation before. Thank you

WillPS

anna42hmr said:

Just wondering, i am just waiting for my savings payout from the Coop switch and the switch offer for TSB (both of which should be paid by 29th in theory, given that its a bank holiday have a feeling may be later than that.  

I want to give the Natwest one ago, however in case it is pulled by time the other two pay out, is it worth giving it a go starting the application process now? can you submit the application for the switch after the fact, if not do they let you chose a switch date (as i recall from RBS in the past wasn't given an option to chose before?) and will the bank hols affect the 7day switch timescale (if so moving it 2 more days later than it would be if next friday and following monday were not a bank holiday??)

The existing customer switch form allows you to sleect a switch date up to 30 days in the future.

Ritusrex

OH's Ulster Bank switch completed yesterday and the bonus is now showing in their account this afternoon.

danco

I got the RBS and NatWest bonus, but may well lose the Ulster one through being careless and rushing things.

I set up a switch to Ulster which came through and I paid in the money on Thursday morning. I planned to switch that to Santander once I got the Ulster bonus. But I did not specify when I wanted the switch to Santander to take place. They worked faster than I expected and started the switch this morning, before I had got the Ulster bonus. We'll see if Ulster are joined together enough to refuse me the bonus. If they do I only have myself to blame.

bioboybill

I saw somebody on here say that they opened a Metro Bank account solely to switch to one of these but Metro closed their account immediately when the switch was requested. Did anybody else on here do the same successfully? I opened a Metro account a couple of weeks ago and was thinking of switching to Ulster.