The financial institution has shared who could be eligible for the free bonus
The financial institution has not too long ago launched the inducement for purchasers (Picture: Getty)
NatWest has launched probably the most beneficiant money incentives at the moment accessible for purchasers. Efficient from Could 6, 2026, new and sure present prospects can declare a £200 bonus when shifting their banking to an eligible account.
This newest supply marks a big improve from the £150 money reward that NatWest and Royal Financial institution of Scotland (RBS) had been selling earlier in 2026. It places the brand new £200 bonus as a top-tier incentive amongst different normal present accounts in the marketplace.
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On its web site, NatWest says: “This supply is on the market to new and present prospects who didn’t maintain a NatWest present account on Could 6, 2026.” The supply applies to prospects who change their present account to both the Choose Account or the Reward Account supplied by NatWest or RBS through the Present Account Swap Service (CASS).
To qualify for the £200 fee, new prospects should adhere to a few particular circumstances inside 60 days of efficiently finishing their change. Firstly, they’re required to pay in a minimal of £1,250. This may be achieved throughout a number of funds, however the whole quantity should be deposited into the account after which stay there for no less than 24 hours.
Secondly, prospects should log in to the respective financial institution’s cellular app throughout the similar 60-day window. As soon as these necessities are met, NatWest or RBS commits to paying the £200 instantly into the shopper’s account inside 30 days.
NatWest explains: “Open a present account and change to us. Apply for a Choose or Reward account and request and full a full change to us from one other financial institution utilizing the Present Account Swap Service.
“Inside 60 days of switching, pay in £1,250. This may be made from a number of funds and should stay within the account for twenty-four hours. Log in to our cellular app. This may be completed on any system that helps the NatWest cellular banking app.”
As for the ultimate step, the financial institution says: “While you’ve met these circumstances, we’ll pay £200 into your eligible account inside 30 days.” NatWest and RBS haven’t specified an finish date for this present account switching supply.
You will need to notice the strict eligibility standards, which exclude some potential switchers. Any buyer who has beforehand benefited from a money switcher supply supplied by NatWest, RBS, or Ulster Financial institution is not going to be eligible to obtain this newest bonus.
You may get £200 once you change your present account held elsewhere to a Choose or Reward account (Picture: Getty)
What about NatWest’s Rewards Account?
Whereas the £200 fee for the Choose Account supply is a considerable upfront fee, prospects choosing the Reward Account can also have entry to further ongoing monetary perks. That is notably true for individuals who proceed to pay in £1,250 or extra every month. Though the Reward account carries a £2 month-to-month price, the rewards on supply have the potential to comfortably cowl this cost.
The Reward Account construction incentivises lively account utilization. By sustaining two or extra direct debits of at the very least £2, prospects will routinely earn £4 a month in Rewards. An extra £1 per 30 days is earned for logging in to the financial institution’s cellular app. This implies a buyer can safe £5 in month-to-month rewards by way of these two actions alone, offsetting the £2 price and offering a web achieve.
Past these mounted month-to-month advantages, Reward prospects may also accumulate rewards when making purchases at NatWest’s companion retailers. These partnership offers rotate usually and embrace a spread of companies.
Clients can money in these gathered Rewards as soon as they’ve earned at the very least £5. The worth of the rewards could be redeemed in a number of methods: paid instantly right into a NatWest present or financial savings account, exchanged for e-gift playing cards usable with companion retailers, or donated to a registered charity.
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