NatWest + RBS £175 switching offers June 2025

PRAISETHESUN

New switching offers from NatWest and RBS, see below. Terms seem to be more or less identical between the two banks, so I've listed the T&Cs for the NatWest offer for reference. Biggest difference between past offers is that it seems to apply only to "new and existing customers who don’t hold a NatWest/RBS current account as of 24th June 2025".


NatWest
https://www.natwest.com/current-accounts/switch-your-banking-to-natwest.html
https://www.natwest.com/content/dam/natwest/personal/current-accounts/documents/switch-offer-terms/nw-switcher-offer-terms-june-2025.pdf

RBS
https://www.rbs.co.uk/current-accounts/switch-your-bank-account-to-rbs.html
https://www.rbs.co.uk/content/dam/royal_bank_of_scotland/personal/current-accounts/documents/switch-offer-terms/rbs-switcher-offer-terms-june-2025.pdf

This offer is for new and existing customers who don’t hold a NatWest current account as of 24th June 2025. This offer is made of two payments totaling £175.

£125 current account payment

• To get £125, you must meet all 4 steps below:

1. Be a UK resident.

2. Apply for and open a NatWest Reward, Premier Reward, Select, or Premier Select account (‘eligible account’) from 24th June 2025.

3. Request and complete a full switch of a current account that is not with NatWest, RBS, or Ulster Bank to your new account using the Current Account Switch Service online or via the mobile app from 24th June 2025. The switch must include closing your current account held elsewhere and moving any payment instructions to your new account, and

4. Within 60 days of your switch completing, you must:

• Pay £1,250 into your new account. This can be made of multiple payments into your new account, and

• Log into our mobile app. This can be done on any device that supports the NatWest Mobile Banking App.

• It is necessary to meet all of the above conditions to receive the £125 payment.

• The £125 will be paid within 30 days after completing these steps, provided the account remains open and is not a Student/Graduate account or a Foundation account.

£50 Digital Regular Saver payment

• To get the additional £50 payment you must:

1. Have received the £125 payment detailed above

2. Within 60 days of switching (see Point 3 above), open a new Digital Regular Saver account online or via the mobile app.

• The £50 will be paid into your new Digital Regular Saver account within 30 days after completing these steps.

Important Information

• This offer may be changed, replaced, or withdrawn at any time. If we withdraw the offer and you’ve already applied to switch to your new account, you’ll still be entitled to receive the payments, provided that you meet the conditions set out in these Terms.

• ‘We’ / ‘NatWest’ are the National Westminster Bank Plc. ‘RBS’ is the Royal Bank of Scotland Plc. Ulster Bank is a business name of NatWest.

• You won’t be eligible for this offer if you’ve received cash from a NatWest, RBS, or Ulster Bank switch offer before.

• You can only benefit from this offer once, even if you have multiple accounts.

• Joint accounts will only be eligible to receive this offer once. If the £125 is paid to the joint account, only one party will be eligible for the additional £50.

• If any party on an account has received cash from a NatWest, RBS, or Ulster Bank switcher offer before, the offer won’t be paid to the account.

• Funds transferred during the switch process count towards the £1,250 deposit requirement.

• For a payment to be counted towards the £1,250, the funds must remain in the account for at least 24 hours.

• The £50 payment to the Digital Regular Saver account doesn’t count towards the £150 monthly limit on the Digital Regular Saver.

• If you convert your new account to another NatWest current account, you are still eligible for this offer, provided it is not a Foundation current account or a Student/Graduate account and you meet all the requirements listed above.

• If you previously held a NatWest current account you may be eligible for this offer, provided you held no NatWest current account as of 24th June 2025 and have never received cash from a NatWest, RBS, or Ulster Bank switch offer before.

What other conditions do you need to know?

You’ll be bound by Your Current Account Terms and the Savings Account Terms, which contain all the terms applicable to your new account, including any regular criteria you need to meet to keep your account and use the account benefits. These can be found at NatWest.com.

km1500

Thanks - so no DDs required!

Unfortunately I have already had a switching incentive from them in the past so not eligible

friolento

You won’t be eligible for this offer if you’ve received cash from a NatWest, RBS, or Ulster Bank switch offer before.

This probably counts out most of the forum regulars.

ThePirates

  they are really tightening up on previous switchers aren't they.

clairec666

Had a NatWest current account for years, so I'm not eligible. No reward for my loyalty.
This is in contrast to Nationwide, who have a switching offer for existing members only.

twopenny

Hmm for me it's the opening of a digital saver if I've got that right. 
Rules and regs to check.
And some sort of app. Computer too old to take it, phone won't, tablet might but not secure enough.
Sort of thing I might do savings wise when working. Now surplus ha! Ha!, goes in at good rate to ISA. Be interesting to see what rates, restrictions there are to that account and what they pay but it's a good heads up if it can work for you. 
As they say, no such thing as a free lunch 🙂

UKX69

What a coincidence - I’ve been thinking of opening an RBS account for a while and just in the process of tidying up my finances to do so when along came this switching offer - but - have switched with them in the past and received the incentive. But hey ho, I’ve applied and initiated the switch anyway and if I don’t get the incentive I won’t cry.

goatfaced

When I switched to them approx a year ago they checked if you'd had a bonus from themselves but not with the sister banks. Loads of us did the triple and got bonuses from RBS, Ulster and NatWest. My son only did NatWest (he doesn't like to have more than one switch on the go) so it's worth him trying RBS and as above he won't cry if he doesn't get the bonus 👍

innocentlove

This offer is for new and existing customers who don’t hold a NatWest current account as of 24th June 2025.

Am I excluded from this switch offer as I have a current account and a digital saver account that were opened about 2 years ago. Never received a switch incentive from NatWest, RBS or Ulster before. Cheers!

PRAISETHESUN

innocentlove said:

This offer is for new and existing customers who don’t hold a NatWest current account as of 24th June 2025.

Am I excluded from this switch offer as I have a current account and a digital saver account that were opened about 2 years ago. Never received a switch incentive from NatWest, RBS or Ulster before. Cheers!

You currently hold a NatWest current account so from the terms I linked above you will be excluded

innocentlove

Thank you very much @PRAISETHESUN for the reply. I was thinking about opening another eligible current account but it won't make me get the switch incentive. So it means I am being penalised for holding a current account and I will never get a switch incentive from NatWest if they include this clause in the future offers.