Upgrading from Natwest Select to Rewards account?

AltruisticPie1544

I've had a Natwest Select account for around 17 years, which I don't want to close as the age of the account is a positive on my credit report. I'm thinking about upgrading it to the Rewards account as I've got a couple of direct debits and will be able to net £3 a month.

The only thing giving me doubt is if it's worth holding out for the next Natwest switching offer. I don't know if I'd be eligible given I already hold an account with them, but could there be a chance they would open switching offers to existing customers?

retiredbanker1

Nat West would not pay you for upgrading an account.
To get the switching offer you must switch an account from another bank to them.

grumpy_codger

In 2019 I switched to a new Natwest account for £150 bonus.

In 2024 I switched to an existing Natwest account - this time for £200.

Search the forum and you'll probably find the thread on 2024 offer and the T&C.

AltruisticPie1544

retiredbanker1 said:

Nat West would not pay you for upgrading an account.
To get the switching offer you must switch an account from another bank to them.

Yes, that's what i meant. I have other current accounts elsewhere that I could switch to my existing Natwest account, and upgrade it from Select to Rewards at the same time.

AltruisticPie1544

grumpy_codger said:

In 2019 I switched to a new Natwest account for £150 bonus.

In 2024 I switched to an existing Natwest account - this time for £200.

Search the forum and you'll probably find the thread on 2024 offer and the T&C.

It looks like they changed the criteria in mid 2025 so customers that already hold an account are no longer eligible. It's been like that for the last 2 offers.

I think i'll get the reward account anyway, and if they open switching offers to existing customers again I should still be able to take advantage.

PRAISETHESUN

I don't think there's any benefit from holding off upgrading to Reward if you're eligible and can meet the criteria. As you say, it's net £3/month benefit for minimal effort.

I'm fairly confident that past NatWest switch incentives have allowed switching into existing accounts, so I don't think that's a factor you need to worry about. Bridlington1 maintains a thread recording historic T&Cs of past switch offers, which might be worth looking through for specifics.

https://forums.moneysavingexpert.com/discussion/6526050/an-archived-list-of-switching-offers/p1

Middle_of_the_Road

FYI.
The upgrade procedure usually takes around a week after you've submitted the request.

Ritusrex

I had an email two days ago from NatWest offering £150 to upgrade my Select account to a Reward one.  The account needs to be credited with £1250 every month, and have 2 direct debits.  Also said to log in to the app.  

Nasqueron

Ritusrex said:

I had an email two days ago from NatWest offering £150 to upgrade my Select account to a Reward one.  The account needs to be credited with £1250 every month, and have 2 direct debits.  Also said to log in to the app.  

2 direct debits of at least £2 to be clear, can't do it with just a 30p direct debit or 50p plum one

I have it for the RBS as well, just split phone and gym on RBS and credit cards on the NatWest, easy peasy

Note also you can pay the £5 reward into the digital regular saver so £155 a month can be deposited, away from the roundups if they are still doing that