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

overspender22

SickGroove said:

So, my NatWest switch is due to complete this coming Friday, should I then also put in the £1250 on Friday once I receive the transfer complete text/email from NatWest...or wait til Saturday before depositing the £1250 ie 24 hours after the switch completed?

I will probably leave the £1250 in the account until next Tuesday...just to make sure!

How did your switch happen so quickly? I did mine to an existing account the morning of the offer launching and it’s completing on the 26th. Just curious. 

Yorkshire_Pud

SickGroove said:

So, my NatWest switch is due to complete this coming Friday, should I then also put in the £1250 on Friday once I receive the transfer complete text/email from NatWest...or wait til Saturday before depositing the £1250 ie 24 hours after the switch completed?

I will probably leave the £1250 in the account until next Tuesday...just to make sure!

Yep good idea. Don’t give them a chance to deny your bonus on a technicality, although I would probably withdraw and re deposit  the funds each day and maybe even put the £1250 in the switch account and then withdraw and re deposit it, then the earliest day when it qualifies for the up to eight? day period for payment should be triggered whether that is switch day or next day etc. Mind you with a new account will they let you have access to your funds on switch day? On balance I will deposit £1250 on the day after switch day.

GTR_King

On Payday 29th (Switch completes
28th) will transfer £1250 leave for 24 hours then move back out 1st March! Will that Work? 

norm_

Dominic_Blake1 said:

masonic said:

Dominic_Blake1 said:

danny13579 said:

Dominic_Blake1 said:

I strongly believe I will be eligible for both bonuses according to the terms of the respective offers.

Can you explain which terms make you think this?

'You won’t be eligible to earn £200 if you’ve taken advantage of a cash switcher offer from NatWest, Royal Bank of Scotland plc or Ulster Bank since 1 January 2020.' ...  I have not taken advantage of any of those cash switcher offers previously.

What about "You can only benefit from this offer once"? Also, what happens if the eligibility check for the second bonus happens after the first has been paid? Then you will have taken advantage of a cash switcher offer since 1st Jan 2020.

At best, the terms are unclear on whether two or three bonuses will be paid to those trying for them.

All good points, you might well be correct.  However, as things currently stand I have not received any switch bonuses from those banks.  Assuming that on the 27th, after both the NW/RBS switches have completed, I transfer £1,250 into each account simultaneously, I'm not convinced that I won't receive the bonuses.  There is definitely a case to be made that as soon as one bonus arrives it would render all others void (since I would as you say have then taken advantage of a switch offer since 1 Jan 2020), however I'm not sure.  The other point is that there is a precedent for this:  Last year several people successfully claimed all three bonuses!  

Whatever the result, the good news is that the timescales are not long so either way we'll all know soon.

My personal suspicion is the system for checking qualifying bonuses will be stricter this time, especially when so many are discussing opening 3 accounts.

Ultimately NatWest win because they'll have a load of switched accounts on their books for free.

WillPS

norm_ said:

Dominic_Blake1 said:

masonic said:

Dominic_Blake1 said:

danny13579 said:

Dominic_Blake1 said:

I strongly believe I will be eligible for both bonuses according to the terms of the respective offers.

Can you explain which terms make you think this?

'You won’t be eligible to earn £200 if you’ve taken advantage of a cash switcher offer from NatWest, Royal Bank of Scotland plc or Ulster Bank since 1 January 2020.' ...  I have not taken advantage of any of those cash switcher offers previously.

What about "You can only benefit from this offer once"? Also, what happens if the eligibility check for the second bonus happens after the first has been paid? Then you will have taken advantage of a cash switcher offer since 1st Jan 2020.

At best, the terms are unclear on whether two or three bonuses will be paid to those trying for them.

All good points, you might well be correct.  However, as things currently stand I have not received any switch bonuses from those banks.  Assuming that on the 27th, after both the NW/RBS switches have completed, I transfer £1,250 into each account simultaneously, I'm not convinced that I won't receive the bonuses.  There is definitely a case to be made that as soon as one bonus arrives it would render all others void (since I would as you say have then taken advantage of a switch offer since 1 Jan 2020), however I'm not sure.  The other point is that there is a precedent for this:  Last year several people successfully claimed all three bonuses!  

Whatever the result, the good news is that the timescales are not long so either way we'll all know soon.

My personal suspicion is the system for checking qualifying bonuses will be stricter this time, especially when so many are discussing opening 3 accounts.

Ultimately NatWest win because they'll have a load of switched accounts on their books for free.

I'm not sure there's more discussion of it than previous times. If there was a simple way for Natwest Group to check between the 3 separate systems I'm sure they'd have implemented it already.

Worth remembering that MSE Forumites (et al) will make up a tiny amount of the total switch activity Natwest Group will be dealing with. 

DanE

being a new customer to NatWest this might be normal - but what a circus to move money out (online)

not interested in biometrics (noted i did the face id to gain a/c)

and currently don't have the card reader

in the end i used the app that restricts transfer of £1k per 24hrs

i can't answer if the face bio thing (online) is for every withdrawal

i was moving £1245

in the app i noted a slider, (i didn't test it) so you should be able to increase outgoing amounts beyond £1k over time

stclair

WillPS said:

norm_ said:

Dominic_Blake1 said:

masonic said:

Dominic_Blake1 said:

danny13579 said:

Dominic_Blake1 said:

I strongly believe I will be eligible for both bonuses according to the terms of the respective offers.

Can you explain which terms make you think this?

'You won’t be eligible to earn £200 if you’ve taken advantage of a cash switcher offer from NatWest, Royal Bank of Scotland plc or Ulster Bank since 1 January 2020.' ...  I have not taken advantage of any of those cash switcher offers previously.

What about "You can only benefit from this offer once"? Also, what happens if the eligibility check for the second bonus happens after the first has been paid? Then you will have taken advantage of a cash switcher offer since 1st Jan 2020.

At best, the terms are unclear on whether two or three bonuses will be paid to those trying for them.

All good points, you might well be correct.  However, as things currently stand I have not received any switch bonuses from those banks.  Assuming that on the 27th, after both the NW/RBS switches have completed, I transfer £1,250 into each account simultaneously, I'm not convinced that I won't receive the bonuses.  There is definitely a case to be made that as soon as one bonus arrives it would render all others void (since I would as you say have then taken advantage of a switch offer since 1 Jan 2020), however I'm not sure.  The other point is that there is a precedent for this:  Last year several people successfully claimed all three bonuses!  

Whatever the result, the good news is that the timescales are not long so either way we'll all know soon.

My personal suspicion is the system for checking qualifying bonuses will be stricter this time, especially when so many are discussing opening 3 accounts.

Ultimately NatWest win because they'll have a load of switched accounts on their books for free.

I'm not sure there's more discussion of it than previous times. If there was a simple way for Natwest Group to check between the 3 separate systems I'm sure they'd have implemented it already.

Worth remembering that MSE Forumites (et al) will make up a tiny amount of the total switch activity Natwest Group will be dealing with. 

When I worked for NatWest I had a dual RACF so it meant I could view RBS and NatWest accounts in one system. 

sparky0138

rider22 said:

Archerychick said:

I’m going for the triple! NatWest has its switch date already locked in for next week, RBS and Ulster applied for this morning  

all of your applications have been accepted ? i mean did they all gave you switch dates etc 

I applied to all three on the 16th and was given switching dates of 26th February for Natwest/RBS and 28th February for Ulster.

rider22

sparky0138 said:

rider22 said:

Archerychick said:

I’m going for the triple! NatWest has its switch date already locked in for next week, RBS and Ulster applied for this morning  

all of your applications have been accepted ? i mean did they all gave you switch dates etc 

I applied to all three on the 16th and was given switching dates of 26th February for Natwest/RBS and 28th February for Ulster.

that’s great .. did you use all same details like email address and phone number for all three accounts ?

Archerychick

rider22 said:

Archerychick said:

I’m going for the triple! NatWest has its switch date already locked in for next week, RBS and Ulster applied for this morning  

all of your applications have been accepted ? i mean did they all gave you switch dates etc 

Not yet, RBS updated this morning to say they're doing their final checks, and have issued my account details - I suspect they'll confirm the switch today. Ulster I haven't heard anything from yet, but from what others have said they are slower.