Interested to know more about the NatWest 200 switch offer?
NatWest has launched a 200-pound current account switching offer for new as well as existing customers.
New or existing customers can grab this opportunity by switching their main current account to NatWest Reward or Select account.
From 15 February 2024, NatWest has been offering 200 Pounds cash if you switch banks. So, if you are interested in knowing more about NatWest 200 switch offer just continue reading my article.
This article covers the NatWest £200 switch offer, including eligibility, requirements, payment timing, how to claim the bonus, and steps to take if the bonus isn’t paid.
Let’s dive into the deep!
How Much Can You Get By Switching to NatWest?
The NatWest switching offer is pretty straightforward. You can get a fixed 200 pounds if you meet the conditions that I will outline below.
However, this is not the first time that the bank is offering this switch offer to its customers. But, it is the largest switching offer that they ever ever offered.
You can only get one bonus per person despite having more than one solo or any extra joint account. The bank will also provide the switching offer to a joint account.
So, if two of you want the offered cash, it will be better to open two individual accounts.
Who Can Get NatWest 200 Switch Offer?
The new as well as existing customers can get the free cash. However, the customers need to have one of the following accounts:
- Select
- Reward
- Reward Silver
- Foundation
- Reward Platinum
- Select Silver
- Select Platinum
- Premier Select
- Black
- Premier Reward Black
You need to use the Current Account Switching Service to switch your account from a different bank.
Also, if you do not have a spare account then you can set up a dummy current account to use for switching accounts.
What Are The Requirements for NatWest Switching Offer?
These are the requirements for getting the NatWest switching offer.
- You must have one of the above-mentioned accounts on or after 20 February 2024.
- You can start a full switch through the Current Account Switching Service
- For switching your account, you can access the NatWest website or app
- Switch from a non-NatWest bank
- You must pay 1,250 Pounds within 60 days of switching your account
- You should log in to app banking or mobile banking within 60 days of switching the account
- You must keep open the account until you have had the switching cash
You must keep in mind that 1,250 pounds need not be deposited in one go. You can add money across the qualifying period.
Each single deposit should remain in the account for 24 hours. Also, the 60-day counting period starts when the switching process completes.
You may not be eligible for the NatWest 200 switch offer if you start switching over the phone or in the branch. Your account needs to be an existing account or a new one.
When Will The Money Be Paid?
The NatWest 200 switch offer will be paid to your account within seven working days after meeting the above criteria.
How to Get The NatWest Switching Bonus?
NatWest is offering 200 pounds to customers switching to its Rewards or Select bank account.
To qualify for the bonus, you can apply online for an account. You can use NatWest’s mobile banking app via the Current Account Switching Service.
If you go forward with your bank account switching, your old account will be closed. If there are any funds or direct debit will be directly transferred to NatWest.
Within the first 60 days of switching the account, you must deposit an amount of 1,250 pounds to the present account. Also, you should log in to the mobile banking app at least once within 60 days.
If your account meets all the criteria, the bank will pay you a 200-pound bonus into your account within 7 days.
This is not the first time that the bank is offering a bonus to the switchers.
NatWest also offered a similar offer in the previous year. Nearly 95,000 new customers signed up for accounts between 1 July to 30 September in the last year. This is the highest figure of any bank ever had.
What if the NatWest Switch Bonus is Not Paid?
If you have fulfilled all the above-mentioned criteria, but still have not had the money in your account, you can complain to NatWest.
If you feel inconvenienced at any point, you can complain to the bank. You can be offered compensation for making a complaint.
FAQ
How to get 200 pounds if I switch to NatWest?
Ans: NatWest is offering 200 pounds to its new as well as existing customers who switch their main current account to this bank. to get the bonus, you need to open an account online using the Current Account Switching Service.
Further, you have to deposit 1,250 pounds into the account within 60 days from the day of account opening. Also, you must log into the NatWest mobile app at least once within these 60 days.
How long does it take for NatWest to pay the switch bonus?
Ans: Once, the requirements for the NatWest switching offer are fulfilled, and you become eligible for the switch bonus, the bank will pay the bonus in your account within 7 days.
Should I switch my bank account to NatWest only to get the bonus deal?
Ans: Switching a bank account is a great way to get some free cash. However, there are some circumstances where it will not be the best idea.
You must evaluate the advantages and disadvantages of switching the account in the long run. After evaluating all the aspects, you must go forward with the NatWest switch deal.
Conclusion
No doubt, the NatWest switch bonus deal is good news for customers looking to swap banks and make some extra cash in the process. Further, if you switch your current account to NatWest, the bank will do hard work for you.
Well, now you may have got all the details regarding the NatWest 200 switch offer. Here, in this article, I have enlisted every aspect of this deal.
So, if you are interested in getting this NatWest switch bonus, you can follow the guide. Hope, this guide will help you in getting eligible for the bonus deal and earning some extra cash!
