NatWest launches switch deal offering £120 in rewards and 4% interest | Personal Finance | Finance
NatWest has launched a new switch deal offering new customers up to £120 in rewards and a 4% interest rate savings account. All you have to do is switch your main current account to the bank’s Premier Select or Premier Rewards account.
Once you make the switch, you can open a Limited Edition Saver account and enjoy higher interest rates on your money for the year. For example, savers who deposit £150,000 could make £6,002 in interest at 4%. The bank also offers a Current Account Switch Service to facilitate the transfer even more easily. You can do this online via the NatWest app. Payments, such as Direct Debits and Standing Orders, are automatically transferred to the newly opened account within seven days.
The £120 cash reward for making the switch will come in instalments. Every month, customers with their new Premier Reward account will receive £9 in rewards if they have two direct debits of at least £4.50. An additional £1 will be added for logging into the mobile app each month. This amounts to £120 per year. However, it should be noted that the reward account does have a monthly fee of £2.
Upgrading to a Reward Black account provides additional savings through more exclusive benefits. The bank said customers can receive the equivalent of £1,738 in membership benefits. This includes mobile phone insurance, worldwide travel insurance, worldwide airport lounge access and more. This account has a monthly fee of £36, however.
Barry Robinson, premier transformation director at NatWest, said: “At NatWest, we’re always striving for ways to create meaningful value for our customers. Our new Switch & Save offer is designed to welcome new Premier customers with a fulfilling start to their savings journey with us, accompanied by our exceptional services and rewards.”
NatWest Premier also provides financial advice through expert advisors to help plan and support big financial decisions. Saving can also be made easier by a Limited Edition Saver feature that rounds up your spending to the nearest pound, keeping the difference in a savings pot.
Interest on the Limited Edition Saver account will be earned from the first payment into the Limited Edition Saver account between February 4, 2026, and February 4, 2027.
This offer is available for a limited time between November 18, 2025, and January 6, 2026. Accounts can be opened online here or by downloading the NatWest mobile app.
