First Direct And NatWest Launch Switching Cashback | moneyfacts.co.uk

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Derin Clark

Derin Clark

Online Reporter
Published: 11/10/2021

first direct and NatWest have launched switching deals that will see consumers earn £100 or more in cashback when switching bank accounts.

From today, consumers who switch to a first direct 1st Account will be able to earn £100 in cashback if they switch using the Current Account Switching Service (CASS) and credit at least £1,000 into the account each month for the first three months*. 1st Account does not charge any monthly fees and has an interest-free buffer on overdrafts of £250. Customers who borrow more than this through their overdraft will be charged 39.90% EAR variable.

NatWest has also launched a switching offer which sees new and existing customers earn £150 if they switch and stay to a Select or Reward account. This switching offer is due to end on 2 December 2021. To be eligible for the cashback incentive customers must switch using CASS, as well as pay £1,500 into the account and log into online or mobile banking through the NatWest mobile app before 13 January 2022*. If all conditions are met, customers will have £100 credit in their bank account by 11 February 2022, and an additional credit of £50 will be made if 10 debit or credit transactions are made per calendar month between 1 January 2022 to 30 September 2022.

The NatWest Select account does not charge a monthly fee or monthly funding. However, those considering a Reward account should be aware that these accounts charge a fee and require a minimum amount of funding per month. In return, the reward accounts offer a range of benefits, including earning cashback, vouchers or donation to charity through accumulating reward points. More information about these accounts can be found on our bank account comparison chart.

What other switching offers are currently available?

Below are the alternative switching offers currently available. To find out more about switching offers visit our best switching offers page.

 

Bank and account name Switching offer and requirements*  
Lloyds Bank - Club Lloyds, Club Lloyds Platinum £100 cashback - customers must switch to the account using the CASS Find out more
Nationwide Building Society – FlexDirect, FlexAccount, FlexPlus £125 for existing members and £100 for new customers. Must switch two active direct debits using the CASS Find out more
Santander - Santander 1|2|3, 1|2|3 Lite, Everyday, Select, Private Current Account £130 cashback. Customers must switch using CASS, complete their switch within 60 days of starting the process, set up two active direct debits, deposit £1,000 minimum in the first60 days from opening and log into their online or mobile banking app Find out more

 

* Additional terms and conditions may apply.

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