NatWest launches £200 bonus scheme for customers looking to switch bank account - how to apply

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NatWest has launched a new £200 incentive scheme to customers looking to switch bank accounts

NatWest has launched a new bank account switching incentive, offering new and existing customers a £200 cash bonus if they open a current account. Anyone switching their main account to NatWest’s Reward account or Select account will be eligible for the bonus if they log into mobile banking and pay in at least £1,250.

The bank account switch can be done through the Current Account Switch Service, meaning direct debits and standing orders are automatically transferred to the newly opened account within a week. New and existing NatWest customers can apply online or via the mobile app to switch to a Natwest account from February 14.

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Customers must deposit £1,250 into their account and log into the mobile banking app within 60 days to be eligible for the incentive. NatWest is among other high street banks offering money to customers looking to open new accounts.

First Direct also offers £175 to new joiners who open an account and deposit £1,000 within three months. TSB gives customers £200 to switch accounts, of which £125 will be paid straight away followed by another £75 if they keep their account open until 31 October. Meanwhile, Lloyds Bank is offering a £200 switching bonus - but it’s only available for those opening one of its premium accounts.

NatWest £200 cash bonus - how to apply

For information on how to switch accounts and qualify for the £200 bonus, visit the NatWest website.

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