Natwest are currently offering a very healthy £175 for switching an existing bank account – and you don’t even need to have any active direct debits.
This beats the HSBC offer recently discussed and with fewer hoops to jump through.
In order to qualify for the latest Natwest Current Account Switch promotion, you need to have an active bank account that is part of the current account switch scheme. Once you have completed an application and passed the credit check, you will be given £125 initially for switching so long as you do the following:
- Apply for a new account or switch in to an existing account with Natwest before 7th June 2019.
- Complete your switch using the Current Account Switch Service.
- Pay in at least £1,500 and log in to Online or Mobile Banking by 12th July.
Natwest will then pay you £125 by 9th August.
In order to benefit from the remaining £50, you just need to keep your account open until July 2020 and use your debit card just once during the year. If you do this, you will receive an additional £50 on the 30th June 2020.
Recommendations
Natwest have not favoured well in the most recent banking survey for recommendations from Friends and Family – 10th place puts them behind big names such as First Direct, Nationwide and Barclays.
However this does not need to be used as your main bank account. You just need to transfer in an account using the service – you will at least get to see the services that Natwest can offer for yourself. And if it doesn’t work out, then you can switch away from them in July 2020.
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