£100 to switch to Natwest current account + 2% cashback on bills
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£100 to switch to Natwest current account + 2% cashback on bills

Editor 85
Editor
Refreshed 22 h, 13 m ago (Posted 16th May)
Want to grab some cash for switching you current account? Natwest has joined the mob of banks offering cash incentives to switch.

But not for long though – you only have until 15 June to switch.

The £100 offer is open to new and existing NatWest customers applying on Natwest.com who are not already “main banked”.

Eligible accounts

You can get the £100 for switching to Select, Natwest’s “everyday” bank account which is a basic current account and free.

You can also get the £100 if you switch to one of Natwest’s Reward accounts:

  • Reward (£2 a month)
  • Reward Silver (£12 a month)
  • Reward Platinum (£19 a month)

These are packaged bank accounts offering various perks. All three offer 2% cashback on eligible household bills paid by direct debit. Natwest reckons the average account holder will earn £83 a year this way, based on paying seven types of selected household bills totalling £345 a month.

So, combined with the switching incentive, you could bag £183 in the first year.

The monthly fee means it’s only really worth going for if you opt for either the Select account or the basic Reward account as otherwise the account fee will wipe out your cashback.

How to get the cash

Switchers are required to use the Current Account Switch Service, close their existing account with their current provider and transfer their main current account to NatWest. They will then receive the bonus within 12 weeks of opening the account and fully switching.

To be eligible, £1500 must be paid into the account which requires to be logged into either online or through the Natwest mobile app before 13 July 2018.

Customers must be 18 or over and not have already taken advantage of a cash offer from NatWest between October 2017 and May 2018 for opening a new current account and switching.

Fee-free purchases abroad

NatWest is also giving all its Reward customers fee-free foreign transactions on debit card purchases abroad until 31 August 2018. This isn’t a reason to switch though – there are other debit, credit and prepaid cards which NEVER charge for use overseas. But I thought I’d mention it anyway.
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Even though the service is not the best, but I have managed to switch 3 different accounts to Natwest and get £125 reward for each switch.
I’ve switched banks for cashback so many times recently I can’t even remember if I’ve had a NatWest account
ie1010 m ago

TBH, for a current account they (M & S) shouldn’t ask for proof etc, at t …TBH, for a current account they (M & S) shouldn’t ask for proof etc, at the end of the day you will be putting money in their account as opposed to Credit Cards!


Money laundering?!
nicholascrocker1 h, 29 m ago

its a shame that you have to close your current account to take advantage …its a shame that you have to close your current account to take advantage of this offer , any way round this?


I use a spare,’stooge’ account with 2 direct debits that I keep switching. Easy money.
85 Comments
Naturally this appears a week after i open a barclays account for the double blue rewards switch bonus.
Even though the service is not the best, but I have managed to switch 3 different accounts to Natwest and get £125 reward for each switch.
Switched to similar deal with halifax. Within 2 weeks of me joining they announced the monthly fee going up for ultimate reward card and the terms of the insurance they provide. Wondering if these will do same straight after? 👎
I’ve switched banks for cashback so many times recently I can’t even remember if I’ve had a NatWest account
Just missed out on the first direct incentive, (have no use for their headphones offer), but the £1500 a month is a killer for me, earn just over a grand a month, shame. Applied to M and S for their account last week but they are dragging their heals, probably means they will expect ten generations worth of proof of who i am combined with every bill from the past 5o years, looks like i am stuck with the coop for now.
moorjock20 m ago

Just missed out on the first direct incentive, (have no use for their …Just missed out on the first direct incentive, (have no use for their headphones offer), but the £1500 a month is a killer for me, earn just over a grand a month, shame. Applied to M and S for their account last week but they are dragging their heals, probably means they will expect ten generations worth of proof of who i am combined with every bill from the past 5o years, looks like i am stuck with the coop for now.


TBH, for a current account they (M & S) shouldn’t ask for proof etc, at the end of the day you will be putting money in their account as opposed to Credit Cards!
choices choices, natwest select or halifax. love these free money offers.
moorjock25 m ago

Just missed out on the first direct incentive, (have no use for their …Just missed out on the first direct incentive, (have no use for their headphones offer), but the £1500 a month is a killer for me, earn just over a grand a month, shame. Applied to M and S for their account last week but they are dragging their heals, probably means they will expect ten generations worth of proof of who i am combined with every bill from the past 5o years, looks like i am stuck with the coop for now.



I don't think it's £1500 a month, It looks like It might be total before 13th July:

"You’ll need to pay in at least £1,500 and log in to Online Banking or our Mobile Banking app by 13 July. We’ll then pay the £100 by 10 August 2018"
ie1010 m ago

TBH, for a current account they (M & S) shouldn’t ask for proof etc, at t …TBH, for a current account they (M & S) shouldn’t ask for proof etc, at the end of the day you will be putting money in their account as opposed to Credit Cards!


Money laundering?!
waiting for the cash offer from TSB for switching to thier account online MAYBE
dexter5 m ago

waiting for the cash offer from TSB for switching to thier account online …waiting for the cash offer from TSB for switching to thier account online MAYBE


Joined TSB last year they have been true to their word, no probs with cashback, only downside is that i dont have a clue how much i have in there as i have not been able to access fully online for almost two months now, they say they will honour and incurred charges though
Syrb25 m ago

I don't think it's £1500 a month, It looks like It might be total before …I don't think it's £1500 a month, It looks like It might be total before 13th July:"You’ll need to pay in at least £1,500 and log in to Online Banking or our Mobile Banking app by 13 July. We’ll then pay the £100 by 10 August 2018"


Will have to have a re read of that, theres hope yet ! Thnaks.
harishgupta1 h, 39 m ago

Even though the service is not the best, but I have managed to switch 3 …Even though the service is not the best, but I have managed to switch 3 different accounts to Natwest and get £125 reward for each switch.



Interesting, I thought it was one reward per customer?
Doesn't Natwest have monthly major IT issues locking customers out of accounts? I seem to always hear their name on the news with some problem or the other...
Any direct debits?
£250:00 for the Yorkshire Bank was an excellent deal and so easy
its a shame that you have to close your current account to take advantage of this offer , any way round this?
InTheKnow44416th May

£250:00 for the Yorkshire Bank was an excellent deal and so easy


Yes I got the £250 Clydesdale switch offer, still amazed at how much they offered, the 250 came through bang on 60 day after opening the account too. Who knows how much they paid out overall! Rubbish app though so waiting for the next £150+ switch offer to come about!
Yes, it's 1 reward per customer as I have switched my account, my wife account and one joint account.
0dd8a111 h, 24 m ago

Doesn't Natwest have monthly major IT issues locking customers out of …Doesn't Natwest have monthly major IT issues locking customers out of accounts? I seem to always hear their name on the news with some problem or the other...


You mean TSB... Shocking! used to be ok
I failed to do the Yorkshire one, they gave me all sorts of excuses from 'it was not the right account to switch into, your direct debits were not valid, your application has elapsed and is longer valid for the cashback incentive, we will not be looking into this any further', and I'm glad to say that I'll be switching away from them this instant. Made me jump through so many loops only to end up with nothing.
Edited by: "hellop4nda" 16th May
nicholascrocker1 h, 29 m ago

its a shame that you have to close your current account to take advantage …its a shame that you have to close your current account to take advantage of this offer , any way round this?


I use a spare,’stooge’ account with 2 direct debits that I keep switching. Easy money.
How do you switch? I signed up but it didn't ask for switching details?
nicholascrocker1 h, 51 m ago

its a shame that you have to close your current account to take advantage …its a shame that you have to close your current account to take advantage of this offer , any way round this?


Open an account with a crap bank that offers nothing and expects nothing to be paid in each month, then use it to switch each time. Switch a few direct debits to it as well as a lot of the switches require a few DD.
Is the fee free foreign purchases for existing customers too?
Surely this is like internet explorer trying to pay you to be the default browser! Would you do it though?
giwebb18 m ago

Open an account with a crap bank that offers nothing and expects nothing …Open an account with a crap bank that offers nothing and expects nothing to be paid in each month, then use it to switch each time. Switch a few direct debits to it as well as a lot of the switches require a few DD.



Do you have an example? (Not challenging, genuinely interested in knowing)
Edited by: "dealhunter5253" 16th May
dealhunter525323 m ago

Do you have an example? (Not challenging, genuinely interested in knowing)


I opened one with TSB with no money going in or out. I started to transfer money in and then switched some DD to it. Now get paid to pay my mortgage except TSB are ****** and have stopped paying me for my custom so I might have to go to a bank that will.
No direct debit requirements then? Time to switch from first direct, they managed to weasel out of paying the £100, and will no doubt not pay out the £50 for leaving.
If struggling for active direct debits, consider starting up one line every other week of lottery lucky dip numbers - lotto + health lottery etc. The cashback equates to about about 30 free plays, after which time you can switch accounts again elsewhere with the same active pair of DDs
badgerman25 h, 35 m ago

I’ve switched banks for cashback so many times recently I can’t even rem …I’ve switched banks for cashback so many times recently I can’t even remember if I’ve had a NatWest account



Lol just did the switch and they gave a sort code and acc no. then went to look through my cards and found out i already had a natwest card, dont know what to do now lol
badgerman22 h, 4 m ago

I use a spare,’stooge’ account with 2 direct debits that I keep switching. …I use a spare,’stooge’ account with 2 direct debits that I keep switching. Easy money.



nicholascrocker3 h, 34 m ago

its a shame that you have to close your current account to take advantage …its a shame that you have to close your current account to take advantage of this offer , any way round this?


How do they know you have closed your old account ?
nicholascrocker3 h, 47 m ago

its a shame that you have to close your current account to take advantage …its a shame that you have to close your current account to take advantage of this offer , any way round this?


Probably not enough time to do this but if you like your current bank and dont want to switch then open a secondary/mule account with any bank and then use that for switching banks in order to be able to keep getting the bonuses. You will need a couple of direct debits and so on to make sure you meet the criteria. Usually you don’t have to have wages paid in to the new account, just transfer to yourself from your main account and send it back later the same day. There is a minor warning with this around in terms of credit score/report though.

See MSE's guide that explains it so much better than me ... ! Here’s a link to a MSE forum on this which may help: forums.moneysavingexpert.com/sho…854
WaftyCranker1 h, 13 m ago

How do they know you have closed your old account ?


The bank switching service closes your old account, you don't do it yourself.
badgerman28 h, 20 m ago

I’ve switched banks for cashback so many times recently I can’t even rem …I’ve switched banks for cashback so many times recently I can’t even remember if I’ve had a NatWest account


hahah to be honest I did the same but my credit score took a huge hit 😬
moorjock7 h, 17 m ago

Will have to have a re read of that, theres hope yet ! Thnaks.


Its definitely £1500 in total. No direct debits required either. Service has been very good. Now run out of banks to switch to so will stay with them now.
With this switch I must be close to making £1000 .

Thanks Op
Edited by: "thisismark" 17th May
Don't use your main current account to switch to Natwest. They cancelled both my DD during the switch in accident, forget to send pin, and locked my debit card even when I've never used it yet so I had to go to the branch in person to sort it out. And they paid the incentive late as well.
moorjock9 h, 1 m ago

Just missed out on the first direct incentive, (have no use for their …Just missed out on the first direct incentive, (have no use for their headphones offer), but the £1500 a month is a killer for me, earn just over a grand a month, shame. Applied to M and S for their account last week but they are dragging their heals, probably means they will expect ten generations worth of proof of who i am combined with every bill from the past 5o years, looks like i am stuck with the coop for now.


They are just on the slow side. I had to call and ask to see what was happening and to make sure the application went through OK. Other banks are better at keeping you informed.
Applied for the last Natwest offer, dragged on so long they had stopped paying the bonus. Beware, slow painful process. I’m avoiding.
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