Natwest Offer £125 to switch

NewMoneySaver13
NewMoneySaver13 Posts: 108 Forumite
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in Budgeting & bank accounts


Apologies if this has already been asked previously.
I am looking at switching to a Natwest Select Account for £125 switching offer. Looking through the T&C’s below I can’t see a minimum requirement for direct debits.

This offer is available to new and existing customers. Just use the Current Account Switch Service to close your current account held elsewhere and switch to us before 3rd December. Offer available online and in branch.
You'll need to pay in at least £1,500 and log in to Online or Mobile Banking by 7th January 2019. We'll then pay the £125 by 8th February.

My question is, could I open up a new Everyday Current Account with my existing bank, Santander, with no direct debits and then switch across that account to a Natwest Select Account and still qualify for the £125? Assuming the switch is done before 3rd December, I pay in £1500 and log in online before 7th January?


Thanks
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Comments

  • badger09
    badger09 Posts: 11,200 Forumite
    First Post First Anniversary Name Dropper
    NewMoneySaver13 wrote: »


    Apologies if this has already been asked previously.
    I am looking at switching to a Natwest Select Account for £125 switching offer. Looking through the T&C’s below I can’t see a minimum requirement for direct debits.

    This offer is available to new and existing customers. Just use the Current Account Switch Service to close your current account held elsewhere and switch to us before 3rd December. Offer available online and in branch.
    You'll need to pay in at least £1,500 and log in to Online or Mobile Banking by 7th January 2019. We'll then pay the £125 by 8th February.

    My question is, could I open up a new Everyday Current Account with my existing bank, Santander, with no direct debits and then switch across that account to a Natwest Select Account and still qualify for the £125? Assuming the switch is done before 3rd December, I pay in £1500 and log in online before 7th January?


    Thanks

    Basically, yes

    If you're switching an account with no payments in & no SOs or DDs out, I would at least fund it with a small amount. Just so that there is something to switch;)

    I took part in a previous offer back in January. IIRC it took a while to get the account open and there were mountains of paperwork from Natwest.

    Good luck
  • PRAISETHESUN
    PRAISETHESUN Posts: 3,707 Forumite
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    You can do as you propose - there is no requirement for direct debits that I'm aware of. As is suggested, having a few quid in the account when the switch hits is probably a good idea so you can visibly see when the switch completes.

    It was a proper faff trying to use their online secure document portal to submit documents, and it was quite slow in my experience. I'd submit documents, find out the next day that they were rejected, submit new documents straight away but have to wait to find out they were rejected again, etc. I ended up going into a branch to show my ID. Other then that the account was relatively painless to open and switch to.
  • deadendwaterfall
    deadendwaterfall Posts: 308 Forumite
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    I've switched from a spare Barclays account to NatWest successfully and paid in £1600, and logged into online banking, so just need to wait for my £125 to be paid now.
    :o
  • NewMoneySaver13
    NewMoneySaver13 Posts: 108 Forumite
    First Post First Anniversary Combo Breaker
    Thanks guys for the responses. More than happy to put some money into the account before switching, that was always the plan. It was just the direct debit side of things that I wanted to clear up.


    My partner has just switched her account across to Natwest from another account with no issue at all so hopefully it will be the same for me.
  • NotRichAtAll
    NotRichAtAll Posts: 888 Forumite
    First Anniversary Combo Breaker
    My question is does the £1500 have to remain in the account upto the reward date or can you pay it in this monday and take it out on tuedsay?
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
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    edited 9 November 2018 at 11:37PM
    NotRichAtAll wrote: »
    My question is does the £1500 have to remain in the account upto the reward date or can you pay it in this monday and take it out on tuedsay?
    My answer is:

    1. If it does, then the T&Cs will clearly say so. And if they do I'll eat my hat because...

    2. If the £1,500 credit was your salary, as it will be for a good few 'genuine' switchers, would you think it fair that they wouldn't let you spend it for 3 months?
  • NotRichAtAll
    NotRichAtAll Posts: 888 Forumite
    First Anniversary Combo Breaker
    My answer is:

    Thanks for the reply
  • clivep
    clivep Posts: 576 Forumite
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    If you've not yet applied then you can currently get cashback in addition to the £125 NatWest incentive. Quidco is giving £50 cashback for a Select a/c and £40 for a Reward one. Topcashback is offering £20 cashback.
  • JuicyJesus
    JuicyJesus Posts: 3,830 Forumite
    First Anniversary Combo Breaker First Post
    I applied for this deal yesterday (a bit leery of NatWest but I'll give them a go), out of interest if anyone else was asked for ID how long did it take them to get the email asking for it to be uploaded to their document service? It's cutting it a bit fine to get everything switched over so hopefully it's not too long...
    urs sinserly,
    ~~joosy jeezus~~
  • PRAISETHESUN
    PRAISETHESUN Posts: 3,707 Forumite
    First Anniversary Photogenic Name Dropper First Post
    JuicyJesus wrote: »
    I applied for this deal yesterday (a bit leery of NatWest but I'll give them a go), out of interest if anyone else was asked for ID how long did it take them to get the email asking for it to be uploaded to their document service? It's cutting it a bit fine to get everything switched over so hopefully it's not too long...

    Can't recall how long it took, but I seem to recall something in the order of a few days to a week. I wouldn't stress though, as long as the application was submitted before the application due date, then you should remain eligible for the bonus - the deadline for making the initial cash deposit isn't until Jan 2019.
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