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Financial capability and learning

Record numbers switch to NatWest as bank launches £200 switcher offer

The latest bank switching data from the Current Account Switcher Service revealed that almost 100k customers switched to NatWest between July and September last year.

Note – this switcher offer is no longer available. Refer to the NatWest website for info on switching to NatWest.

 

  • Switching customers receive £200 within seven working days once they meet the switching criteria
  • Almost 100k customers switched within three months
  • Reward account offers customers a further £60 a year

 

Record numbers of customers are switching to Natwest. The latest bank switching data from the Current Account Switcher Service revealed that almost 100k customers switched to NatWest between July and September last year.

NatWest is now offering £200 to new and existing customers who switch their main current account to the bank.

To benefit from the offer, customers need to use the Current Account Switcher Service, pay £1,250 into the account and log into the mobile app within 60 days of switching accounts.

Customers could receive up to £60 back in Rewards each year by opening our Reward account. Every month customers can receive £4 back in Rewards for two or more Direct Debits (need to be at least £2 each), as well as an additional £1 back in Rewards for logging into our mobile app (app criteria applies). Monthly fee of £2 applies.

Lewis Broadie, Customer Manager at NatWest said:

“Record numbers of customers are switching to NatWest and we are pleased to offer a warm welcome with our latest £200 cash offer. As well as the upfront cash offer, we offer a wide range of features and benefits, from helping kids with their money through our Rooster offering to our save the change feature, Round Ups.”

NatWest customers benefit from Round Ups, which saves the change to the nearest pound every time a transaction is made. The NatWest Digital Regular Saver account also offers 6.17% / 6.00% AER/Gross p.a. (variable) and customers can save up to £150 every month.

NatWest’s Select account has no monthly fee and has the benefit of GetCash (limits and conditions apply) which enables customers to withdraw money from a cash machine without their bank card, using a passcode sent to their mobile phone.

NatWest also offers Know Your Credit Score, a free tool offering personalised hints and tips on how to improve your credit score.

NatWest Group customers can claim a free children’s Rooster Card subscription, which is a prepaid debit card and pocket money app, is also available for up to three children per family, normally costing £1.99 per month or £19.99 per year.

Switching bank accounts is simple and can be done through the Current Account Switch Service. Payments, such as Direct Debits and Standing Orders are automatically transferred to the newly opened account within seven days.

An account can be opened online at www.NatWest.com or by downloading the NatWest mobile app.

 

Disclaimer:

This is for media purposes and is not a financial promotion

Information about account switching

Your switch must fully complete to receive the incentive, this means your old bank account will close and any funds and Direct Debits will move over to us. The deposit of £1,250 can be made up of multiple credits and must remain in the account for 24 hours. If you've previously received a switcher incentive from NatWest Group since 01 January 2020, you will not be eligible for this offer. Offer can be withdrawn or amended at any time. Account eligibility criteria apply.

App available to customers aged 11+ with compatible iOS and Android devices and a UK or international mobile number in specific countries.

Information on Round Ups

Earn 6.17% / 6.00% AER/Gross p.a. (variable) interest on your first £5,000 and 1.75% / 1.74% AER/Gross p.a (variable) on anything over £5,000.

Information on Know Your Credit Score

know your Credit score available once opted in through the app to customers aged 18+, with a UK address and is provided by TransUnion.

Information about Rewards

Available to new and existing customers. Must be 18+, UK resident, and pay in £1,250 to an eligible NatWest account every month to earn Rewards.

Information about Rooster Money subscription offer

Usually £1.99/mo £19.99/yr. For 6-17 year-olds. Card designs subject to availability. Offer terms and conditions and other fees may apply.

Information on Get Cash

Withdraw up to £130 every 24 hours at NatWest, Royal Bank of Scotland (in Scotland), Ulster Bank NI and Tesco ATMs. You must have at least £10 available in your account and an active debit card (locked or unlocked).

Financial Capability and Learning
NatWest Group
Current accounts
Supporting Individuals
Press Release
2024
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