NatWest is offering £180 to switch but you have to act fast | Personal Finance | Finance
NatWest’s £180 incentive is just one of the many being offered by some of the UK’s high street banks this December.
Customers will need to apply to NatWest online or via its mobile app to open a Reward account and switch your current account held elsewhere using the Current Account Switch Service
Once the switch is approved your old bank account will close and any money and Direct Debits will move over to NatWest.
You will need to open an eligible NatWest Reward account and pay in £1,250 within 60 days, the money can be made of multiple payments and must remain in the account for 24 hours.
NatWest pledged to pay £180 into your eligible account within seven days, so you will get the cash in time for Christmas.
But you have to act fast, as the offer expires at midnight tonight (12am on Thursday, December 12).
The following banks and building societies are offering cash incentives to new customers who switch their current account.
You will need to use the Current Account Switching Service and you should check whether the account you are switching to is appropriate for your banking needs, for example if you need an overdraft is the interest rate lower or higher. Some current accounts will give you access to higher interest on your savings and extras such as mobile or travel insurance.
Nationwide
The UK’s biggest building society is offering £175 within seven days of switching to its FlexPlus FlexDirect or FlexAccount current account. You will need to put £1,000 into the account within 31 days and pay for something once using your debit card. Some transactions – like gambling – don’t count towards this.
Santander
You can get £150 for switching to either Santander Edge, Edge Up, Everyday or Private (v2) current account online or in a branch. You wil lthen need to pay at least £1,500 into your eligible account and have two active Direct Debits. You shoudl get your £150 within 90 days of opening the account.
How to use the Current Account Switching Service
When opening a new account, you will be asked if you want to switch from an existing account – or you can do it at a later date.
To request a switch, you’ll need to:
CASS will then take care of the rest, including:
- transferring Direct Debits and standing orders
- moving your balance
- redirecting incoming payments, such as benefits or salaries
- closing your old account.
If anything goes wrong, you will be refunded any interest and charges on your old and new accounts under the Current Account switch guarantee
