Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • NewMoneySaver13
    • By NewMoneySaver13 9th Nov 18, 10:23 AM
    • 90Posts
    • 377Thanks
    NewMoneySaver13
    Natwest Offer £125 to switch
    • #1
    • 9th Nov 18, 10:23 AM
    Natwest Offer £125 to switch 9th Nov 18 at 10:23 AM


    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&Cís below I canít 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
Page 1
    • badger09
    • By badger09 9th Nov 18, 11:41 AM
    • 6,378 Posts
    • 5,783 Thanks
    badger09
    • #2
    • 9th Nov 18, 11:41 AM
    • #2
    • 9th Nov 18, 11:41 AM


    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&Cís below I canít 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
    Originally posted by NewMoneySaver13
    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
    • By PRAISETHESUN 9th Nov 18, 12:57 PM
    • 422 Posts
    • 202 Thanks
    PRAISETHESUN
    • #3
    • 9th Nov 18, 12:57 PM
    • #3
    • 9th Nov 18, 12:57 PM
    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
    • By deadendwaterfall 9th Nov 18, 1:11 PM
    • 102 Posts
    • 28 Thanks
    deadendwaterfall
    • #4
    • 9th Nov 18, 1:11 PM
    • #4
    • 9th Nov 18, 1:11 PM
    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.
    • NewMoneySaver13
    • By NewMoneySaver13 9th Nov 18, 2:13 PM
    • 90 Posts
    • 377 Thanks
    NewMoneySaver13
    • #5
    • 9th Nov 18, 2:13 PM
    • #5
    • 9th Nov 18, 2:13 PM
    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
    • By NotRichAtAll 9th Nov 18, 10:20 PM
    • 773 Posts
    • 662 Thanks
    NotRichAtAll
    • #6
    • 9th Nov 18, 10:20 PM
    • #6
    • 9th Nov 18, 10:20 PM
    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
    • By YorkshireBoy 9th Nov 18, 10:33 PM
    • 30,310 Posts
    • 18,222 Thanks
    YorkshireBoy
    • #7
    • 9th Nov 18, 10:33 PM
    • #7
    • 9th Nov 18, 10:33 PM
    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?
    Originally posted by NotRichAtAll
    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?
    Last edited by YorkshireBoy; 09-11-2018 at 10:37 PM.
    • NotRichAtAll
    • By NotRichAtAll 10th Nov 18, 1:02 AM
    • 773 Posts
    • 662 Thanks
    NotRichAtAll
    • #8
    • 10th Nov 18, 1:02 AM
    • #8
    • 10th Nov 18, 1:02 AM
    My answer is:
    Thanks for the reply
    • clivep
    • By clivep 12th Nov 18, 1:21 PM
    • 347 Posts
    • 172 Thanks
    clivep
    • #9
    • 12th Nov 18, 1:21 PM
    • #9
    • 12th Nov 18, 1:21 PM
    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
    • By JuicyJesus 12th Nov 18, 4:52 PM
    • 3,328 Posts
    • 3,683 Thanks
    JuicyJesus
    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
    • By PRAISETHESUN 12th Nov 18, 5:18 PM
    • 422 Posts
    • 202 Thanks
    PRAISETHESUN
    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...
    Originally posted by JuicyJesus
    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.
    • javajim
    • By javajim 12th Nov 18, 6:22 PM
    • 142 Posts
    • 17 Thanks
    javajim
    I am wondering about minimum pay in to NatWest. If there is a short fall of say £150 would it be ok for a relative or friend to set up a direct debit to pay the £150 in to it and then I set up a direct debit to pay £150 back to them?
    My apologies if this has been asked before
    Thanks in advance
    • NotRichAtAll
    • By NotRichAtAll 12th Nov 18, 6:53 PM
    • 773 Posts
    • 662 Thanks
    NotRichAtAll
    i done the id check on my mobile and at the moment i have been waiting 3hrs for the return text, i did read somewhere that others have had issues with the way its done and have gone into a local branch with id and got it sorted there
    • MalF
    • By MalF 13th Nov 18, 2:16 AM
    • 21 Posts
    • 12 Thanks
    MalF
    I opened an account on Monday (to take advantage of the £50 Quidco). So that should be £175 to switch to them, and then another £100 to switch away from First Direct and their awful online banking system.

    The whole process took about 10 minutes.
    • badger09
    • By badger09 13th Nov 18, 11:35 AM
    • 6,378 Posts
    • 5,783 Thanks
    badger09
    I am wondering about minimum pay in to NatWest. If there is a short fall of say £150 would it be ok for a relative or friend to set up a direct debit to pay the £150 in to it and then I set up a direct debit to pay £150 back to them?
    My apologies if this has been asked before
    Thanks in advance
    Originally posted by javajim
    You cannot use direct debits like that, so I think you mean standing orders.

    However, there is no need to involve anyone else. Simply transfer in say £1000 from your main account. Immediately transfer say £500 back to your main account. Then transfer £500 back in. Job done.
    (It doesn't have to be those amounts, as long as the total going in is at least £1500)
    • NotRichAtAll
    • By NotRichAtAll 13th Nov 18, 6:13 PM
    • 773 Posts
    • 662 Thanks
    NotRichAtAll
    so should you have access to your account prior to the switch process been finished, i do have an account number etc.
    • eskbanker
    • By eskbanker 13th Nov 18, 6:32 PM
    • 8,393 Posts
    • 9,492 Thanks
    eskbanker
    so should you have access to your account prior to the switch process been finished, i do have an account number etc.
    Originally posted by NotRichAtAll
    It depends on what you plan to use it for.

    If it's your 'main' account that you rely on for paying bills, accessing cash, etc, then IMHO it would be rash to consider starting the switching process before you have full (and tested) access to it.

    If, on the other hand, it's just a dummy account being used artificially to secure a switching incentive, while your main banking business is conducted elsewhere, then I can't see much of an issue with switching before access is fully available....
    • NotRichAtAll
    • By NotRichAtAll 13th Nov 18, 7:20 PM
    • 773 Posts
    • 662 Thanks
    NotRichAtAll
    It depends on what you plan to use it for.

    If it's your 'main' account that you rely on for paying bills, accessing cash, etc, then IMHO it would be rash to consider starting the switching process before you have full (and tested) access to it.

    If, on the other hand, it's just a dummy account being used artificially to secure a switching incentive, while your main banking business is conducted elsewhere, then I can't see much of an issue with switching before access is fully available....
    Originally posted by eskbanker
    all i meant was should i be able to log in to the account on the app or online prior to the switch been complete? its a dummy account for the bonus only. at the moment 3 days in and not able to access the account at all.

    cheers
    • eskbanker
    • By eskbanker 13th Nov 18, 7:26 PM
    • 8,393 Posts
    • 9,492 Thanks
    eskbanker
    all i meant was should i be able to log in to the account on the app or online prior to the switch been complete? its a dummy account for the bonus only. at the moment 3 days in and not able to access the account at all.

    cheers
    Originally posted by NotRichAtAll
    Yes, account opening and switching are two different processes, even though some banks try to make it appear seamless, so access isn't dependent on switching, especially since the target audience of 'proper' switchers will want/need a fully operational account before switching all their banking activities to it....
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

192Posts Today

1,612Users online

Martin's Twitter
  • I've just heard about the 8 month pregnant woman shot through the stomach by a crossbow. Its both evil and medie? https://t.co/hQTOxWiXhj

  • Major new guide... Brexit, what it means for you and your finances: M mortgages, savings, flights, consumer rights? https://t.co/SXCMG2qXwX

  • Have you haggled on the high street in the last year? If so who with and did you succeed? Please vote in this week? https://t.co/fdzmmFfA4u

  • Follow Martin