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

easyasonetwothree

Brewer21 said:

Well after not being able to supply id online, that's photo id, I don't have it I closed the process and forgetting about this switch incentive with Ulster.
I chose Ulster as I've never had their account but currently have an RBS account and can't really remember when I last had a NatWest incentive, think 2-3 year ago?
So this morning I get a letter asking me to provide a signature, tick a box and asking me to provide an exact name to be put on the debit card. Is this standard procedure from Ulster, do I stand a chance of them just wanting this?
And as I type this I get a reminder to provide id via a text link. What's the chances of being accepted without the online id photo check?

You don't need to create a new account to get the switch incentive -  why not switch into your existing RBS account?

Majic

I have a joint Nat West Select Account (at least 30 years old) never had any bonus.
I took advantage of the £125 HSBC Advance from October (although further £80 possible still on this with the currency card offer)

1) Will I qualify for the offer with the joint account? Could I close the HSBC account for this?
or
2) Could I close the joint account and set up a new single account for myself and get the £200 and keep the HSBC account open?
or
3) Do I need to open up a Chase Account?

PRAISETHESUN

Majic said:

I have a joint Nat West Select Account (at least 30 years old) never had any bonus.
I took advantage of the £125 HSBC Advance from October (although further £80 possible still on this with the currency card offer)

1) Will I qualify for the offer with the joint account? Could I close the HSBC account for this?
or
2) Could I close the joint account and set up a new single account for myself and get the £200 and keep the HSBC account open?
or
3) Do I need to open up a Chase Account?

1) Sole and joint accounts qualify, but you better of getting the joint account holders to do a sole switch each to maximise the rewards (ie. 2x £200 instead of only 1x £200).

2) You can open a sole account without any need to change you existing joint account.

3) You don't need a Chase account specifically, but you do need an account to switch which will be closed. People often don't want to close their main account, so they create "dummy" accounts solely for the purpose of switching, and Chase is one of the easier banks to do this with.

Majic

PRAISETHESUN said:

Majic said:

I have a joint Nat West Select Account (at least 30 years old) never had any bonus.
I took advantage of the £125 HSBC Advance from October (although further £80 possible still on this with the currency card offer)

1) Will I qualify for the offer with the joint account? Could I close the HSBC account for this?
or
2) Could I close the joint account and set up a new single account for myself and get the £200 and keep the HSBC account open?
or
3) Do I need to open up a Chase Account?

1) Sole and joint accounts qualify, but you better of getting the joint account holders to do a sole switch each to maximise the rewards (ie. 2x £200 instead of only 1x £200).

2) You can open a sole account without any need to change you existing joint account.

3) You don't need a Chase account specifically, but you do need an account to switch which will be closed. People often don't want to close their main account, so they create "dummy" accounts solely for the purpose of switching, and Chase is one of the easier banks to do this with.

I am quite happy to close the joint account as it is not used apart from 3 or 4 DDS. Don't have a debit card or anything. How do I do a solo switch each? Won't all the DDS go to one of the new solo accounts

PRAISETHESUN

Majic said:

PRAISETHESUN said:

Majic said:

I have a joint Nat West Select Account (at least 30 years old) never had any bonus.
I took advantage of the £125 HSBC Advance from October (although further £80 possible still on this with the currency card offer)

1) Will I qualify for the offer with the joint account? Could I close the HSBC account for this?
or
2) Could I close the joint account and set up a new single account for myself and get the £200 and keep the HSBC account open?
or
3) Do I need to open up a Chase Account?

1) Sole and joint accounts qualify, but you better of getting the joint account holders to do a sole switch each to maximise the rewards (ie. 2x £200 instead of only 1x £200).

2) You can open a sole account without any need to change you existing joint account.

3) You don't need a Chase account specifically, but you do need an account to switch which will be closed. People often don't want to close their main account, so they create "dummy" accounts solely for the purpose of switching, and Chase is one of the easier banks to do this with.

I am quite happy to close the joint account as it is not used apart from 3 or 4 DDS. Don't have a debit card or anything. How do I do a solo switch each? Won't all the DDS go to one of the new solo accounts

For switching, you can only switch sole --> joint or joint --> joint, not joint --> sole. In your case you can switch your sole HSBC account into either a new sole NatWest account in your name, or into your existing joint NatWest account. There's absolutely nothing wrong with doing the joint switch if you want to, but it means that your partner won't be able to do their own switch to get the incentive themselves. 

Ideally you want to do the following:

• You open a sole NatWest/RBS/Ulster account and switch your sole HSBC account (if you're happy to forfeit the remaining £80 you still have left), or open a Chase account and switch that instead (you get £200 from this)
• Separately, your partner opens a sole NatWest/RBS/Ulster account and switches an account in their sole name (they get another £200 from this). Again, Chase might be useful if they don't have their own account to switch.

SickGroove

So, those who've gone for the hat trick, are you waiting til they've all switched before depositing the £1250 into each account simultaneously, or just transferring £1250 into each account on the day they each switch?

Brewer21

easyasonetwothree said:

Brewer21 said:

Well after not being able to supply id online, that's photo id, I don't have it I closed the process and forgetting about this switch incentive with Ulster.
I chose Ulster as I've never had their account but currently have an RBS account and can't really remember when I last had a NatWest incentive, think 2-3 year ago?
So this morning I get a letter asking me to provide a signature, tick a box and asking me to provide an exact name to be put on the debit card. Is this standard procedure from Ulster, do I stand a chance of them just wanting this?
And as I type this I get a reminder to provide id via a text link. What's the chances of being accepted without the online id photo check?

You don't need to create a new account to get the switch incentive -  why not switch into your existing RBS account?

Should have mentioned, I'm unsure I qualify via my RBS account, I could have had an incentive paid after the qualifying date so didn't want to push my luck there.

Majic

PRAISETHESUN said:

Majic said:

PRAISETHESUN said:

Majic said:

I have a joint Nat West Select Account (at least 30 years old) never had any bonus.
I took advantage of the £125 HSBC Advance from October (although further £80 possible still on this with the currency card offer)

1) Will I qualify for the offer with the joint account? Could I close the HSBC account for this?
or
2) Could I close the joint account and set up a new single account for myself and get the £200 and keep the HSBC account open?
or
3) Do I need to open up a Chase Account?

1) Sole and joint accounts qualify, but you better of getting the joint account holders to do a sole switch each to maximise the rewards (ie. 2x £200 instead of only 1x £200).

2) You can open a sole account without any need to change you existing joint account.

3) You don't need a Chase account specifically, but you do need an account to switch which will be closed. People often don't want to close their main account, so they create "dummy" accounts solely for the purpose of switching, and Chase is one of the easier banks to do this with.

I am quite happy to close the joint account as it is not used apart from 3 or 4 DDS. Don't have a debit card or anything. How do I do a solo switch each? Won't all the DDS go to one of the new solo accounts

For switching, you can only switch sole --> joint or joint --> joint, not joint --> sole. In your case you can switch your sole HSBC account into either a new sole NatWest account in your name, or into your existing joint NatWest account. There's absolutely nothing wrong with doing the joint switch if you want to, but it means that your partner won't be able to do their own switch to get the incentive themselves. 

Ideally you want to do the following:

• You open a sole NatWest/RBS/Ulster account and switch your sole HSBC account (if you're happy to forfeit the remaining £80 you still have left), or open a Chase account and switch that instead (you get £200 from this)
• Separately, your partner opens a sole NatWest/RBS/Ulster account and switches an account in their sole name (they get another £200 from this). Again, Chase might be useful if they don't have their own account to switch.

Thank you for your kindness in explaining this so clearly. One last question, how quickly can I open a Chase Account and then use that for the switch. I.E. If I apply for the Chase Account today, how long do I leave it before switching?

Archerychick

SickGroove said:

So, those who've gone for the hat trick, are you waiting til they've all switched before depositing the £1250 into each account simultaneously, or just transferring £1250 into each account on the day they each switch?

Yes I was going to wait until they’ve all switched and add in the £1,250 on the same day. From history it doesn’t look like they each process the incentive at the same time so this may or may not make any difference 

PRAISETHESUN

Majic said:

PRAISETHESUN said:

Majic said:

PRAISETHESUN said:

Majic said:

I have a joint Nat West Select Account (at least 30 years old) never had any bonus.
I took advantage of the £125 HSBC Advance from October (although further £80 possible still on this with the currency card offer)

1) Will I qualify for the offer with the joint account? Could I close the HSBC account for this?
or
2) Could I close the joint account and set up a new single account for myself and get the £200 and keep the HSBC account open?
or
3) Do I need to open up a Chase Account?

1) Sole and joint accounts qualify, but you better of getting the joint account holders to do a sole switch each to maximise the rewards (ie. 2x £200 instead of only 1x £200).

2) You can open a sole account without any need to change you existing joint account.

3) You don't need a Chase account specifically, but you do need an account to switch which will be closed. People often don't want to close their main account, so they create "dummy" accounts solely for the purpose of switching, and Chase is one of the easier banks to do this with.

I am quite happy to close the joint account as it is not used apart from 3 or 4 DDS. Don't have a debit card or anything. How do I do a solo switch each? Won't all the DDS go to one of the new solo accounts

For switching, you can only switch sole --> joint or joint --> joint, not joint --> sole. In your case you can switch your sole HSBC account into either a new sole NatWest account in your name, or into your existing joint NatWest account. There's absolutely nothing wrong with doing the joint switch if you want to, but it means that your partner won't be able to do their own switch to get the incentive themselves. 

Ideally you want to do the following:

• You open a sole NatWest/RBS/Ulster account and switch your sole HSBC account (if you're happy to forfeit the remaining £80 you still have left), or open a Chase account and switch that instead (you get £200 from this)
• Separately, your partner opens a sole NatWest/RBS/Ulster account and switches an account in their sole name (they get another £200 from this). Again, Chase might be useful if they don't have their own account to switch.

Thank you for your kindness in explaining this so clearly. One last question, how quickly can I open a Chase Account and then use that for the switch. I.E. If I apply for the Chase Account today, how long do I leave it before switching?

Chase is opened and managed using their smartphone app. The application process was straightforward in my experience, as long as you have some ID documents to photograph and are comfortable taking a selfie/recording a short video. Took me about 10-15 mins from memory.

I'd recommend that after you open your first account, you open a second current account in the app (no ID required, and make sure you don't open a savings account by mistake) and then switch the first current account. As long as you keep at least one current account open, you can keep opening new accounts to switch in future if required for other offers. If you close your one and only account, then you can't open another account in future.

Otherwise, there's not really a minimum time to have the account open before you can switch apart from you need to have the debit card details. I believe for Chase they are visible in the app more or less straightaway, so you could open the account and then switch it the same day if you really wanted to.