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

mr_accountant

Switched to NW on 26th, paid £1250 on the evening of the 26th, removed the money after 24 hours, received £200 bonus today morning the 29th.

Last received NW bouns in 2018, received RBS and Ulster last year so don't think I will receive from them especially as tried for natwest last year but did not received bonus, they knew I had a bonus in 2018 which was the cutoff date last year

Nasqueron

Brewer21 said:

danny13579 said:

Dominic_Blake1 said:

Good point … in a way, even though I’m fully immersed in this new switching culture, it’s hard not to think that it’s an ultimately cynical, sorry indictment of society today … we are all sensibly taking advantage of money being offered to us, but it’s somehow kind of tragicomic given the context of the cost of living crisis.

It's easy to think that loads of people are doing this, but really we here are a small group overall. I've said it on here before that many people would never consider changing bank and have been with the same bank, receiving paltry or no interest for decades. Banks make their money from these people. For many that do switch, they will stay with the new bank rather than switch again so banks can make money from other products targeted towards them.
This is all factored for in their marketing budgets. It's all about upping the statistics for new account openings.

I'm not sure that the cost of living crisis makes much difference with switching. For many on here it's a bit of a hobby to make some extra cash, we'd be doing it cost of living crisis or no cost of living crisis. 
Obviously the people who would benefit most from these offers are those living in poverty and deprivation, but I would be surprised if many of this demographic would be partaking in and benefitting from these offers.

This is very true of probably a small amount of folk serially switching.
Talking financially to a group of mates only one had switched to gain a bonus and he is very money savvy, gaining vouchers, cash off deals etc here and there. But when it comes to putting a few thousand in an higher interest account than his current savings account, clueless. Also won't 'risk' another bank bank switch. Asked what he meant by risking not wanting free money, a shrug of the shoulders.
We all differ in what we term, wanting a freebie or an offer. I'd rather have a few hundred easily gained by a few taps on a keyboard from home (bank bribes) than getting a free coffee here and there or money off a tin of beans at Aldi type of stuff.

There is a thread on here about the Co-Op switch where a couple were doing it and were quite happy to risk the £50 saver bonus by switching away the Co-Op current account even though the terms say the saver is exclusive to current account customers and the Co-Op have the infamous term about refusing payment or even clawing it back if they think you're just gaming the system. The excuse was they didn't want to open another current account to switch even though that would take minutes and guarantee the 2x bonuses were paid

Dominic_Blake1

Nasqueron said:

Brewer21 said:

danny13579 said:

Dominic_Blake1 said:

Good point … in a way, even though I’m fully immersed in this new switching culture, it’s hard not to think that it’s an ultimately cynical, sorry indictment of society today … we are all sensibly taking advantage of money being offered to us, but it’s somehow kind of tragicomic given the context of the cost of living crisis.

It's easy to think that loads of people are doing this, but really we here are a small group overall. I've said it on here before that many people would never consider changing bank and have been with the same bank, receiving paltry or no interest for decades. Banks make their money from these people. For many that do switch, they will stay with the new bank rather than switch again so banks can make money from other products targeted towards them.
This is all factored for in their marketing budgets. It's all about upping the statistics for new account openings.

I'm not sure that the cost of living crisis makes much difference with switching. For many on here it's a bit of a hobby to make some extra cash, we'd be doing it cost of living crisis or no cost of living crisis. 
Obviously the people who would benefit most from these offers are those living in poverty and deprivation, but I would be surprised if many of this demographic would be partaking in and benefitting from these offers.

This is very true of probably a small amount of folk serially switching.
Talking financially to a group of mates only one had switched to gain a bonus and he is very money savvy, gaining vouchers, cash off deals etc here and there. But when it comes to putting a few thousand in an higher interest account than his current savings account, clueless. Also won't 'risk' another bank bank switch. Asked what he meant by risking not wanting free money, a shrug of the shoulders.
We all differ in what we term, wanting a freebie or an offer. I'd rather have a few hundred easily gained by a few taps on a keyboard from home (bank bribes) than getting a free coffee here and there or money off a tin of beans at Aldi type of stuff.

There is a thread on here about the Co-Op switch where a couple were doing it and were quite happy to risk the £50 saver bonus by switching away the Co-Op current account even though the terms say the saver is exclusive to current account customers and the Co-Op have the infamous term about refusing payment or even clawing it back if they think you're just gaming the system. The excuse was they didn't want to open another current account to switch even though that would take minutes and guarantee the 2x bonuses were paid

That's interesting:  I have attempted to secure both the NatWest and RBS switch bonuses.  My NatWest switch from Metro Bank was successful, yielding the £200 bonus, however my switch from Coop bank, while successful, has not yet yielded the bonus. 

I wonder whether the fact that the coop savings account is connected with the current account will prevent the RBS bonus from being paid?  I didn't initially think that could have any impact, they are separate accounts and I my switch from the current account was a full switch, closing that account.  Just worried I guess about why I have not received the second (RBS) bonus when other have who were switching on the same timescales I did. 

Not lost all hope yet, still a few days left technically! 

S_uk

I was wondering - my switch has completed, if I paid the £1250 in now, but had a direct debit going out tomorrow (1st) would it not count because some of the money I paid in has in effect been taken out before 24 hours?

Nasqueron

MABLE said:

2catsandcounting said:

Just to add my experience.  RBS switch completed yesterday (27th) and paid in the £1250 yesterday evening.  Ulster switch completes tomorrow (29th) will move the £1250 into Ulster tomorrow night. 

Haven’t tried NatWest, as dont have 3 burner accounts but did get the NatWest bonus in November last year.  I got the RBS bonus in maybe 2019, so wasn’t entitled to it last year.  

If I get RBS and Ulster this time around I’ll give NatWest a punt. 

My credit score has actually gone up this month, despite opening these two accounts! 

My score dropped 125 points because NW did 3 hard searches.  However they have agreed to remove two of them.

Good job no-one sees the gimmick score but you!

GTR_King

Can I transfer the £1250 out today or has it gotta be 24 hours?

paddyposh

Do NatWest take a while to give you the customer number? RBS gave me it on final screen with the reserved bank details but NatWest didn’t 

sheffieldeagle

GTR_King said:

Can I transfer the £1250 out today or has it gotta be 24 hours?

24 hours minimum.

sheffieldeagle

Existing NatWest customer last incentive Jan 2018. RBS incentive April 23. Switch date 26th. Made payment same day and just received my £200.

Cheers

Dominic_Blake1

The tension is intense right now   
So hoping to receive my second switching incentive tomorrow (following NatWest on Monday) from RBS, not received it yet (as of 13:30), was expecting to today on the basis that other people had... hope everyone else does, too!