Switch to NatWest & Get £200
NatWest is currently offering £200 if you switch bank account to them.
This article aims to show you how to switch from your current bank to NatWest, enjoy hassle-free banking, and receive a £200 bonus payment.
Why Choose NatWest?
Do you want to avoid dealing with long queues, high fees, and poor customer service at your current bank? The process of switching to a new bank is not as daunting as it may seem.
NatWest offers a comprehensive range of banking services to meet the various financial needs of its customers. These services include personal banking, business banking, mortgages, loans, investments, insurance, credit cards, and savings accounts.
Customers can access their accounts through a variety of channels, such as online, mobile banking, telephone banking, and in-branch services. NatWest also provides helpful tools and resources to help customers manage their finances, such as budgeting tools, calculators, and more.
With a long history of offering excellent banking services, NatWest is one of the UK's most trusted and reliable banks.
Benefits of Switching to NatWest
As well as getting a £200 bonus, switching bank to NatWest has many benefits, including:
- Among the services that NatWest provides are current accounts, savings accounts, credit cards, mortgages, and loans.
- With NatWest's online banking system, you can manage your finances anywhere with their mobile app.
- With NatWest's extensive branch network, you can easily access banking services in person.
- As a NatWest customer, you can access their customer services team 24/7 with any queries or concerns. They are available through one of their branches or via online video chat.
- A large network of ATMs and branches throughout the UK
- Low fees and charges for using banking services
- Access to a range of savings accounts. Right now, you can benefit as a NatWest customer. You can get access to the "Digital Regular Saver Account." This account pays a competitive 6% on balances up to £5,000."
- Full fraud protection - NatWest will refund any money that is paid out of your bank account by a fraudster if you have kept your login details secure.
How to Switch Bank to NatWest?
NatWest offers a convenient and secure way to switch your current bank account to them. This is done through the Current Account Switch Service (CASS).
1. This article will guide you through the process of switching to a NatWest current account.
2. It will show you how to transfer direct debits and standing orders.
3. It will also explain how to switch your salary payments.
4. Lastly, it will explain how to close your existing account with your old bank.
We'll also explain how to open a NatWest current account and what to do if you need help with the switch. Finally, you'll find out how long the switch will take and what happens once it's complete. So, if you're ready to switch to NatWest, read on and find out exactly how to do it.
To change your bank to NatWest, follow these steps:
Step 1 - Research NatWest's Products and Services
Whilst the offer of £200 is attractive before you switch your bank account to NatWest, it is important to research the bank's products and services. This will ensure that they meet your financial needs. Visit NatWest's website or speak with a customer service representative to learn more about the bank's products.
Step 2 - Open a NatWest Account
To switch to NatWest, you will need to open a new account. To get the £200 cash bonus, you must open your new account online or use the NatWest banking app.
Step 3 - Transfer Your Funds and Direct Debits
In order to ensure a smooth transition, you will need to transfer your funds and direct debits from your current account to the new NatWest account. You can do this online using the "Current Account Switch" service.
Step 4 - Close Your Current Account
When you have moved your money and payments to a new bank, you can shut down your old account with the prior bank.
How to switch to NatWest bank using CASS
Switching to a new bank or building society using CASS is straightforward. Here's what you need to do:
- Choose NatWest as the bank you want to switch to and apply for one of their accounts (Select, Reward, Premier Banking).
- Provide your new bank or building society with proof of your identity and address.
- Complete a Current Account Switch Agreement (CASA) with NatWest.
- NatWest will contact your old bank or building society to start the switching process.
- Your old bank or building society will provide a list of your standing orders, direct debits, and regular payments to NatWest.
- NatWest will set up your new account and transfer your balance, standing orders, and direct debits.
- Your old account will be closed, and any remaining balance will be transferred to NatWest.
- Timeframe for switching using CASS is up to 7 business days.
FAQs
Q: Is it straightforward to switch bank to NatWest?
A: Yes, transferring to NatWest is a straightforward process that can be completed quickly.
Q: Will I incur any fees or charges for switching bank to NatWest?
A: No, NatWest does not charge any fees or charges for switching to the bank.
Q: Can I manage my finances online with NatWest?
A: Yes, NatWest offers a great online banking service that lets you manage your finances anywhere.
Q: How long does it take to switch banks to NatWest?
A: NatWest will keep you updated throughout the switching process, which can take up to 7 business days.
Q: Do I have to close my old bank account?
A: No; however, if you use the CASS service, your old account will be closed automatically.
Q: What information will I need before I switch to NatWest?
A: It is essential that your existing bank or building society has your most recent information on file, such as your current address if you have recently moved. Also, if you have a joint account, make sure you are both in agreement to the move.
Q: When will I receive the £200 bonus payment for switching bank?
A: When you have met the conditions of the Switch, NatWest will pay £200 into your bank account within 7 days.
Types of NatWest Bank Accounts to Switch to
1. NatWest Select Current Account
In addition to the £200 cash incentive, the NatWest Select Current Account boasts features such as:
- No account fees
- Minimum opening balance of £0.01
- 0% AER interest (annual equivalent rate)
The NatWest Select Current Account gives you access to their Digital Regular Saver. The top rate of interest on this savings account for balances up to £5,000 is 6%.
Requirements for the NatWest Select Current Account
- Minimum deposit of £1,250 to open the account
- Must switch using the Current Account Switch Service
- Must log in to the NatWest banking app within 60 days
Should you meet this account's criteria, you will receive the £200 cash bonus within 7 days.
2. NatWest Reward Current Account
The £200 bank switch offer also applies to the NatWest Reward Current Account. This product comes with a fee of £2 per month, and you can earn up to £5 in Rewards for 2 or more Direct Debits and £1 with 1 mobile app log-in, So that's a net figure of £3 per through this bank account.
Switching to the NatWest Reward Current Account enables you to make a total earning of £236 in a year by:
- Minimum deposit of £1,250 to open the account
- Must switch using the Current Account Switch Service
- Must log in to the NatWest banking app within 60 day
- Logging in to the NatWest banking app once a month
- Setting up at least two direct debit payments of £2 plus
- Meeting eligibility criteria set out by NatWest
3. Premier Bank Account
With a Premier account, you can benefit from one-to-one support for more complex financial decisions. 24/7 support. Arranged overdraft facility. No monthly fees.
Criteria to be approved for a Premier account.
- Minimum £100k sole income or £120k joint income paid into NatWest account or
- £500k minimum mortgage borrowing or
- £100k of savings or investments held with NatWest
