Derin Clark

Derin Clark

Online Reporter
Published: 12/02/2020

NatWest is offering consumers £175 as an incentive to switch to a current account with the high street bank.

Consumers wanting to take up this offer will have to act quickly as it is only available until 2 April 2020. To receive the £175, a NatWest Select or its Reward, Reward Silver, Platinum and Black accounts must be opened before the April deadline and used as a main bank account.

In addition to this, customers need to close their existing main bank account and transfer their main account to NatWest using the Current Account Switch Service. The bank also requires that a payment of £1,500 is made into the new account and that customers log into online or mobile banking through the NatWest mobile app before 10 May 2020. If all the terms and conditions are met, customers will receive the £175 by 5 June 2020.

This offer is available to both new and existing NatWest customers. Consumers should be aware that while the Select account is free to open and operate, all the Reward accounts charge a monthly fee.

Switching to a NatWest account should be relatively simple, as the bank is part of the Current Account Switch Service scheme, which makes it easy for customers to switch banks accounts. For example, as part of the scheme, payments such as direct debits and standing orders are automatically transferred to the newly opened account within seven days.

Commenting on the offer, Bruno Genovese, head of NatWest current accounts, said: “Switching bank accounts couldn’t be easier and we hope our highest ever guaranteed switcher offer will give an added incentive for those who have been thinking about switching to a bank that can help make you more confident about money.”

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