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Switching from Natwest

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I'm considering switching to a Club Lloyds account from Natwest.

As part of my banking with Natwest I have a 'Digital Regular Saver' account which I get a good rate of interest on, even if I can only add £150 to it each month.

If I switch from Natwest will the 'Digital Regular Saver' account have to close?

Comments

  • SFCooper
    SFCooper Posts: 38 Forumite
    10 Posts Name Dropper First Anniversary
    I'm considering switching to a Club Lloyds account from Natwest.

    As part of my banking with Natwest I have a 'Digital Regular Saver' account which I get a good rate of interest on, even if I can only add £150 to it each month.

    If I switch from Natwest will the 'Digital Regular Saver' account have to close?
    I believe so.
  • clairec666
    clairec666 Posts: 294 Forumite
    100 Posts Name Dropper
    edited 3 July at 4:01PM
    From what I gather from the T&Cs (I looked into switching out of my RBS regular saver which is pretty much identical to the NatWest one) your regular saver will stay open but you'll only be able to withdraw money in branch. You should still be able to pay in via another bank. And I guess you could open another current account to replace your closed one, which would solve the withdrawal issue. I haven't gone through with the switch though, so can't guarantee it works.

    From https://www.natwest.com/savings/digital-regular-saver.html:
    "Can I withdraw money from my regular savings account?

    Yes, you can withdraw your money from this regular savings account at any time. Simply move the amount you want to your current account held with us using Online Banking, our mobile app, in branch or by telephone.

    If you close or switch your current account with us in future, you will only be able to withdraw money from your account in branch"

  • Middle_of_the_Road
    Middle_of_the_Road Posts: 1,152 Forumite
    1,000 Posts Second Anniversary Photogenic Name Dropper
    As mentioned above, open a Select account with NatWest, before you do the switch.


    My account is the reward account, and I  opened the Classic account and switched that to Lloyds.
  • Stargunner
    Stargunner Posts: 996 Forumite
    Fifth Anniversary 500 Posts Name Dropper
    I'm considering switching to a Club Lloyds account from Natwest.

    As part of my banking with Natwest I have a 'Digital Regular Saver' account which I get a good rate of interest on, even if I can only add £150 to it each month.

    If I switch from Natwest will the 'Digital Regular Saver' account have to close?
    You can add considerably more than £150 per month by using round ups.
  • Petriix
    Petriix Posts: 2,297 Forumite
    Ninth Anniversary 1,000 Posts Photogenic Name Dropper
    I'm considering switching to a Club Lloyds account from Natwest.

    As part of my banking with Natwest I have a 'Digital Regular Saver' account which I get a good rate of interest on, even if I can only add £150 to it each month.

    If I switch from Natwest will the 'Digital Regular Saver' account have to close?
    You can add considerably more than £150 per month by using round ups.
    Only if you spend from your current account, which seems pretty wasteful. If you do your spending on a credit card you can earn cashback on everything you spend while earning interest on the money you would have spent from your account for up to 6 weeks before you finally pay the bill. As long as you only spend what you have, you can't lose.
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