NatWest gives up to £175 cash to more than 8,000 customers | Personal Finance | Finance
A total of more than 8,000 NatWest customers have benefited from cash payments up to £175 for ditching and switching their banks in just a three-month period.
The latest stats from the Current Account Switching Service (CASS) revealed that more than 50,000 customers switched banks between July and September 2025, with Nationwide, Monzo and Natwest the biggest winners.
NatWest successfully lured 8,731 customers in the three-month period, having put out lucrative offers including £150 to £175 for switching to its current account or Reward and Select accounts in July, followed by £175 in September for switching to its current account.
In 2025, October was the peak for bank switch season, with 128,199 making the jump in time to get paid a bonus before Christmas, followed by November and December.
Of those who switched in Q3 2025, a vast majority (72%) said they preferred their new account, and only 2% said that it was worse. Online or mobile app banking (44%) remains the top reason why consumers preferred their new accounts, followed by customer service (36%), interest earned (34%), spending benefits (28%), and attached benefits or features (28%).
Almost all switches (99.2%) were completed within just seven days, CASS said.
John Dentry, Product Manager at Pay.UK, owner and operator of CASS, said: “Reaching nearly 12 and a half million switches since launch is a significant milestone, and it’s encouraging to see switching volumes remain strong – with October and Q4 the busiest month and quarter of 2025, respectively.
“That level of activity is a clear sign of a healthy, competitive banking market, where people feel empowered to shop around and move to an account that better meets their needs.
“What’s equally important is that people continue to rate the experience highly. With satisfaction and recommendation levels remaining consistently high, the service is proving it can deliver fast, reliable switching at scale. At a time when every pound matters, we want consumers to feel confident they can move their money to an account that better suits their needs – quickly, easily, and with the reassurance of a free, guaranteed switch.”
Right now, several big name banks are still offering bank switch bonuses. Santander is offering £200 for switching, while First Direct is offering £175 and TSB is offering £200 including £150 up front.
