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

goatfaced

NatWest have been the nightmare for us. My son wasn't told his account number and had to go in branch to ask for it. He doesn't like talking so it's put him off the process of switching. Staff were lovely though. For me they opened my account but said they hadn't had a switch request, when I enquired (after the offer ended so too late to start a new one) then suddenly began it yesterday. No idea if I will get the bonus as they took so long to action it. 

Tonski

propunter99 said:

I've never used any of the Natwest banks before this offer popped up on MSE.

If anything, this switch process has convinced me to never use these banks in the future.

I'm grateful for the switch bonus cash, but their systems are antiquated and completely outdated.

Not fit for purpose in 2024. No way I'd trust these accounts for my 'real' banking.

My Ulster switch completed two weeks ago and I'm STILL unable to log in using the activation codes.

Me and my partner couldn't login to Ulster using my activation code on our mobile phones. It kept saying there was an error but it worked straightaway when i used the laptop. Worth a try is you're still having issues

Nasqueron

danny13579 said:

Nasqueron said:

It may work, it may not, I just don't see any point in ignoring the terms that say pay in after the switch completes

That is not what the terms say.

The terms say:

Pay £1,250 into your eligible account within 60 days of switching to your eligible account.

"of switching to" says to me that it needs to complete before paying in. Paying in before your switch completes assumes it will complete which it may not, there have been plenty of documented cases where it fails e.g. Barclays and Chase with linked savings pots, where you might need to start it again.

Therefore again, I would advise referring to the switch terms which say pay in after switching, not before. 

Nasqueron

I got the letter with request to sign as well, all turned up after I had the account setup and done the ID checks but I signed and sent back anyway as it was free. Account switch was completed yesterday, paid in after the switch completed, waiting now for 24 hours then will remove it and see if I get the second £200 of the deal. 

WillPS

Nasqueron said:

danny13579 said:

Nasqueron said:

It may work, it may not, I just don't see any point in ignoring the terms that say pay in after the switch completes

That is not what the terms say.

The terms say:

Pay £1,250 into your eligible account within 60 days of switching to your eligible account.

"of switching to" says to me that it needs to complete before paying in. Paying in before your switch completes assumes it will complete which it may not, there have been plenty of documented cases where it fails e.g. Barclays and Chase with linked savings pots, where you might need to start it again.

Therefore again, I would advise referring to the switch terms which say pay in after switching, not before. 

Staff on messaging confirmed that funds transferred as part of the switch do count. Unfortunately it was in answer to a completely different question but that's Natwest messaging for you!

My wife got her switching bonus even though the only relevant pay in would have been the one for her annual LISA deposit (with Moneybox, who insist it comes from the "linked" current account) - except that (a) that was there before the switch completed and (b) it was only there for a few hours.

Worst case with these things, leave it a week, see if the bonus lands, if still no payment add the deposit again for another 24 hours and wait another week.

Johnny-Cage

Natwest switch completed 8th DD’s been paid to my credit card and cleared yesterday but at the moment nothing taken out of my Natwest account, Suppose it will catch up at some point 

VXman

So, RBS and Ulster have now paid out for me and my wife has Ulster too. I'm awaiting Nat west and the wife awaits RBS.

All done using hastily opened additional Chase Accounts. An easy potentional £1000. 

Too easy to be honest. I can't see the point of it for Nat west/RBS/Ulster.

danny13579

Nasqueron said:

The terms say:

Pay £1,250 into your eligible account within 60 days of switching to your eligible account.

"of switching to" says to me that it needs to complete before paying in. Paying in before your switch completes assumes it will complete which it may not, there have been plenty of documented cases where it fails e.g. Barclays and Chase with linked savings pots, where you might need to start it again.

Therefore again, I would advise referring to the switch terms which say pay in after switching, not before. 

The process of switching starts on day 1. There's plenty of evidence on here of people having received their bonuses when they put their money in before completion date.

FIREmenow

FIREmenow said:

Ulster is not being the slow one for me! 
Had switches completing same day for NatWest and Ulster, was getting every email and alert at the exact same minute through the 7 days. Ulster completed in the morning and NatWest in the afternoon on the day and Ulster paid the bonus the next day but still waiting for NatWest, but there is still time for it to pay out.

Got my NatWest bonus today! That's the triple for me, having never had any switch money from any of them before.

Thanks to all who chanced and received the triple early on so we could follow!

For NatWest, I paid in half the 1250 before the switch ended and half after. 

For Ulster, I had paid in all the money and withdrawn it again before the switch completed.

For RBS, switch completed, then I paid in the money.

In all cases any money deposited over the weekend was counted, even though they retrospectively change all the transaction dates to working days afterwards.

Three slightly different ways that all worked.

WillPS

E_zroda said:

WillPS said:

WillPS said:

bioboybill said:

My wife's switch to NatWest due on 26th still hasn't completed. The money from her TSB account went over to NatWest yesterday afternoon, but the DDs haven't gone over yet.  When the money went over TSB sent my wife a notification that she had set up a new payee, so for a minute she thought her account had been hacked! Weird way of doing things.

Same issue here with my wife and I. Never known a switch to go so wrong at this stage and Natwest aren't communicating about what's happening. It's a poor show.

As an update on this - apparently there's a delay on TSB's side stopping switches away from completing. I've received £50 compensation from Natwest, might take up the matter with TSB as well.

Let us know how did you get on, but this guarantee indicates the fault is with the new bank:

We have designed the Current Account Switch Service to let you switch your current account from one bank or building society to another in a simple, reliable and stress-free way. It will only take seven working days. As your new current-account provider we offer the following guarantee. • The service is free to use and you can choose and agree your switch date with us. • We will take care of moving all your payments going out (for example, your Direct Debits and standing orders) and those coming in (for example, your salary). • If you have money in your old account, we will transfer it to your new account on your switch date. • We will arrange for payments accidentally made to your old account to be automatically redirected to your new account. We will also contact the sender and give them your new account details. • If there are any issues in making the switch, we will contact you before your switch date. • If anything goes wrong with the switch, as soon as we are told, we will refund any interest (paid or lost) and charges made on either your old or new current accounts as a result of this failure.

To update, I had a bit of a rolled up complaint with TSB, the factors in it were:

1. The delay to the switch caused by a bank error their side, and lack of warning/explanation/expectation management
   
2. The 3 hours spent on hold with zero expectation management, either on the phone or with the social media team
3. The fact I specifically asked to open a complaint on the chat and was instead transferred somewhere else

I asked for a total of £200 and they've given me a total of £100. Tiny bit disappointed but I suppose £200 switching bonus + £50 compensation from Natwest + £100 compensation from TSB isn't a bad result.