NatWest £180 Switch offer from 22/10/24

Middle_of_the_Road

ih8stress said:

I completed the Switch successfully and found it relatively easy and quick to do.

The biometrics took longer to set up as I wasn't eligible to do it for a few days but once I was, it did both the face and voice on the first attempt.

I haven't got any Direct Debit's set up and read on here that it isn't worth doing them if not already in place.

Looking on their website I have also found out that I have to have at least £5 in 'Rewards' before I can redeem them.

As I will only get £1 a month for logging in, I am considering changing this to a 'fee-free' account instead now that I have received my Bonus.
Is there anything to prevent me from doing this?

No

Could they ask for the Bonus back at all if I downgrade it now to their Everyday Current Account instead?
No

I'm guessing it will mean having a different debit card/pin number etc?

No, when I upgraded to the Reward account, the card and PIN remained unchanged.

I am thinking of staying with them, at least for now as I quite like the App.

Thanks

See comments in bold above.

ih8stress

Thanks @Middle_of_the_Road - have now done this

pollyanna24

Has anyone got the switch money yet?  I have done a few switches in the past, but was fairly sure I fitted the criteria for getting the money.  But the account was opened around 26th October and I haven't received anything yet.

ih8stress

Hi @pollyanna24 - sounds like you need to get in touch with them.

I switched early in November and received the Switch Bonus 10 days after the Switch itself completed.

I had around 3 or 4 text messages during that time to keep me informed of the progress.

Have you had any contact from them about your Switch, to say it was accepted, confirming it was complete and all the necessary transactions had switched across etc?

If you have NOT qualified for some reason perhaps they will let you know why, and you would be able to do another Switch with them in the future (and use the unswitched NatWest current account to switch elsewhere?).

Good luck

pollyanna24

Thanks ih8stress.  I had confirmation of the switch and have been using the Natwest account, but there was no mention of the £180 switch after the initial application.  I will ring and see what they say.  Thanks again.

bf2011

Hi, I switched to NatWest from my previous bank with the switch completing on 9th December. I had completed all the steps to get the £180 switching bonus so I called today to find out when I’ll receive it. On the phone they told me I didn’t qualify because they withdrew the offer on 12th December and I hadn’t paid in £1,250 before this date! The offer said you had to pay in the amount within 60 days (It went in on 20th December when I got paid). Surely they can’t withdraw the offer from you if your account switched before they withdrew the offer and you then met the criteria they’d set for payment? I got a stone cold ‘No’ on the phone but wondering if this is something worth pursuing further?

If not, then I’m tempted to switch my account away from them straight away.

PRAISETHESUN

Withdrawal of offer
This offer may be changed, replaced, or withdrawn at any time. If we withdraw the offer and you’ve already applied to switch to
an eligible account, you’ll still be entitled to receive £180, provided that you meet the conditions set out in these Terms

I'd be tempted to say put in a complaint. The relevant section of the terms above (full terms linked on the first page) say that if you've started a switch and they then withdraw the offer, as long as you meet all the other terms you are eligible for the offer. So as long as you paid in £1250 within 60 days, as you have done, alongside everything else means you should be eligible.

You'll need to keep the account open until they make the payment though, so keep that in mind if you're looking to switch away.

Jazzking

My OH switched accounts before the offer close but only paid in the £1250 last week and the incentive was paid today. so @bf2011 I think definitely worth putting a complaint in as I agree the T&Cs should still stand, if you requested the switch within the offer period.

s71hj

I assume there is no issue with the 2 direct debits in the month for the reward account being to the same place - I have x2 to Plum set up.

PRAISETHESUN

s71hj said:

I assume there is no issue with the 2 direct debits in the month for the reward account being to the same place - I have x2 to Plum set up.

PRAISETHESUN said:

s71hj said:

I'm a bit confused as to whether you have to pay£1250 in to get the monthly reward, there seems to be contradictory info about this. If so does it have to stay in there for an overnight or can it be paid in and straight out? Also can the direct debits be a fortnightly one to the same payee?

The criteria for the switch offer and the ongoing monthly rewards are different.

For the monthly rewards, the £1250 can be paid straight in/out. No requirement for the money to stay in overnight. If you have multiple rewards accounts (back from when multiple were allowed to be opened) then only one of your accounts needs to receive the deposit to qualify.

For the DDs, they only care that 2x DD payments of £2+ are taken each month. I've had a single Plum DD taking £2 weekly satisfy my reward criteria for years at this point. Fortnightly will also work, as long as 2x payments are taken each month.

Yes. A single Plum mandate paying out multiple times in a single month is sufficient to meet the ongoing monthly rewards.