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  • FIRST POST
    • Sconeyj
    • By Sconeyj 10th Jan 18, 1:56 PM
    • 11Posts
    • 54Thanks
    Sconeyj
    NatWest 125 switch incentive
    • #1
    • 10th Jan 18, 1:56 PM
    NatWest 125 switch incentive 10th Jan 18 at 1:56 PM
    Just as I thought I'd exhausted every bank...up pops NatWest with a switch offer! 125 for switching, and no direct debits required. All you need to do is:
    • switch a non-NatWest account
    • deposit 1,500
    • log into online or mobile banking
    All before 16 March (although you need to apply for the account by 16 February).


    Happy days!
Page 101
    • SuperHan
    • By SuperHan 17th Apr 18, 5:46 PM
    • 2,105 Posts
    • 1,253 Thanks
    SuperHan
    After the husband got 50 of compensation, they offered me a measly 15.


    I'll take it as an additional 65 between us isn't a bad deal.
    • Al Ross
    • By Al Ross 17th Apr 18, 5:48 PM
    • 479 Posts
    • 114 Thanks
    Al Ross
    I paid in and out a 1000 every month from when I switched ,mid Feb and received my 125 on time.

    So 1500 per month is rubbish.
    • KTF
    • By KTF 17th Apr 18, 5:49 PM
    • 4,679 Posts
    • 1,913 Thanks
    KTF
    Its 'annoying' (for want of a better term) that they are seemingly handing out the compensation to anyone who asks when the vast majority have suffered no loss at all and only opened the account to get the bonus payment.

    If its delayed by a few days then so what.
    • Steve_xx
    • By Steve_xx 17th Apr 18, 6:33 PM
    • 6,562 Posts
    • 2,747 Thanks
    Steve_xx
    Not 1500/month, just one payment of 1500.
    Originally posted by 18cc
    ....or even 1500 payments of 1!
    • binaryuniverse
    • By binaryuniverse 17th Apr 18, 6:35 PM
    • 763 Posts
    • 479 Thanks
    binaryuniverse
    Its 'annoying' (for want of a better term) that they are seemingly handing out the compensation to anyone who asks when the vast majority have suffered no loss at all and only opened the account to get the bonus payment.

    If its delayed by a few days then so what.
    Originally posted by KTF
    There's a nice little greedy free for all going on here.
    • veryintrigued
    • By veryintrigued 17th Apr 18, 6:43 PM
    • 2,485 Posts
    • 1,962 Thanks
    veryintrigued
    With what?

    Bank cocks up free money incentive date.-gives out compensation for delayed payment?

    Non story...
    Originally posted by blindman
    Just hit the spam button!
    • RG2015
    • By RG2015 17th Apr 18, 7:35 PM
    • 1,303 Posts
    • 773 Thanks
    RG2015
    There's a nice little greedy free for all going on here.
    Originally posted by binaryuniverse
    Is that just recently or the whole 100 pages with over 2,000 posts?
    • escapee
    • By escapee 17th Apr 18, 7:39 PM
    • 304 Posts
    • 121 Thanks
    escapee
    exactly the same response i got from the adviser that called me just now 125 by the 27th and 30 pounds in compensation today.
    Originally posted by older_wiser
    Pretty much the same story here too. I sent a complaint email over the weekend as the Customer Services Rep couldn't give me a definitive response and the Switching Team lines were closed.

    I received a callback this morning from a complaints handler albeit I was offered 25 compensation and asked if I had incurred any out of pocket expenses to which I answered honestly.

    Told the bonus would be paid by 27th April.
    • binaryuniverse
    • By binaryuniverse 17th Apr 18, 7:45 PM
    • 763 Posts
    • 479 Thanks
    binaryuniverse
    Is that just recently or the whole 100 pages with over 2,000 posts?
    Originally posted by RG2015
    The initial switch bonus is fine, after all the banks offered it. But demanding compensation for a delay on free money, that shouldn't have financially affected you especially after a few days, is ridiculous.
    • Nick_C
    • By Nick_C 17th Apr 18, 7:52 PM
    • 4,210 Posts
    • 5,848 Thanks
    Nick_C
    The initial switch bonus is fine, after all the banks offered it. But demanding compensation for a delay on free money, that shouldn't have financially affected you especially after a few days, is ridiculous.
    Originally posted by binaryuniverse
    I disagree. It is a breach of contract. People closed their bank accounts and switched to NatWest in order to get a bonus by 13th April. NatWest broke that agreement. Compensation is appropriate in my opinion.

    Although it is also my opinion the the loss making incompetent RBS, which taxpayers have subsidised with billions of pounds, should not be giving our money away in this manner in the first place.
    • jaxkesa
    • By jaxkesa 17th Apr 18, 7:54 PM
    • 236 Posts
    • 61 Thanks
    jaxkesa
    Got mine on 11th. Wish I hadn't so I could get compensation.
    • suaveybloke
    • By suaveybloke 17th Apr 18, 8:15 PM
    • 8 Posts
    • 3 Thanks
    suaveybloke
    Just received my bonus (after complaining via their website and not getting a response yet). No compensation but at least I don't need to call them up to chase (something I was dreading).
    • ValiantSon
    • By ValiantSon 17th Apr 18, 8:37 PM
    • 2,537 Posts
    • 2,511 Thanks
    ValiantSon
    I disagree. It is a breach of contract. People closed their bank accounts and switched to NatWest in order to get a bonus by 13th April. NatWest broke that agreement. Compensation is appropriate in my opinion.

    Although it is also my opinion the the loss making incompetent RBS, which taxpayers have subsidised with billions of pounds, should not be giving our money away in this manner in the first place.
    Originally posted by Nick_C
    I like to think of it as my share dividend!
    • soulsaver
    • By soulsaver 18th Apr 18, 1:39 AM
    • 1,963 Posts
    • 863 Thanks
    soulsaver
    I've just gave the customer service a call to see where I'm at with the switch and when the 125 would be paid, was told by the woman that I don't meet the criteria because apparently 1,500 needs to be paid in every month? (had no idea about this, was certain that it was just a 1500 one-off deposit)

    * I signed up for the switch a couple of months back and binned it off because I didn't reach the criteria in time - got an email the other day saying they'd extended it. I get paid around 1200 4 weekly so I've had near enough 2500 deposited since March

    Would have argued the toss but I was only on a short break in work - anybody else had any trouble of this kind?
    Originally posted by LFC_
    You'll need to check what you switched into: Contrary to what some posters think, at least one of the eligible accounts DID require 1500 monthly credit. Was your account a 'Select' or 'Reward' account?
    • shezzone
    • By shezzone 18th Apr 18, 7:22 AM
    • 39 Posts
    • 11 Thanks
    shezzone
    You'll need to check what you switched into: Contrary to what some posters think, at least one of the eligible accounts DID require 1500 monthly credit. Was your account a 'Select' or 'Reward' account?
    Originally posted by soulsaver

    I have the T&Cs in front of me. Can you tell me where it says it has to be 1500 per month?

    • RG2015
    • By RG2015 18th Apr 18, 8:35 AM
    • 1,303 Posts
    • 773 Thanks
    RG2015
    I have the T&Cs in front of me. Can you tell me where it says it has to be 1500 per month?

    Originally posted by shezzone
    Reward current account 5.3 on page 24
    • Steve_xx
    • By Steve_xx 18th Apr 18, 9:39 AM
    • 6,562 Posts
    • 2,747 Thanks
    Steve_xx
    You'll need to check what you switched into: Contrary to what some posters think, at least one of the eligible accounts DID require 1500 monthly credit. Was your account a 'Select' or 'Reward' account?
    Originally posted by soulsaver
    Yes, I see your point. But, the monthly deposit requirement on the Reward Account would not be linked to the potential to collect the bonus because the switch offer is not linked to the account terms, I'd say?
    Last edited by Steve_xx; 18-04-2018 at 9:42 AM.
    • bigst
    • By bigst 18th Apr 18, 10:19 AM
    • 35 Posts
    • 15 Thanks
    bigst
    Phoned up yesterday about bonus was told it would be in by the 27th. Put in a complaint on the online form straight after coming on here and seeing this thread.. Got paid the 125 yesterday afternoon, and a lovely lady has just phoned me to tell me my complaint has been upheld and 50 compensation would be paid today. Just checked and is in there already. Great service. Already started a switch to First Direct so feel a bit guilty now
    • Steve_xx
    • By Steve_xx 18th Apr 18, 10:42 AM
    • 6,562 Posts
    • 2,747 Thanks
    Steve_xx
    Already started a switch to First Direct so feel a bit guilty now
    Originally posted by bigst
    Bankers read these forums, of course they do. It troubles that people readily post here how they plan to take advantage of the banks in the way that you describe. Doing it is one thing, but publishing the plan so overtly is merely laying the foundations for the goose that's laying the golden egg to be killed off.
    • blindman
    • By blindman 18th Apr 18, 10:54 AM
    • 5,179 Posts
    • 4,204 Thanks
    blindman
    The initial switch bonus is fine, after all the banks offered it. But demanding compensation for a delay on free money, that shouldn't have financially affected you especially after a few days, is ridiculous.
    Originally posted by binaryuniverse
    Personally I did not demand compensation I opened a complaint.

    They offered compensation for their mess up and I accepted.

    Some others on here did seem to demand and from their past history seem to do this for everything
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