NatWest bank switch deal: February to April 2024

Find out about NatWest's switching offer, plus how much to earn in savings interest on top.

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Liz Edwards

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Holly Jennings

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NatWest switch deal update

NatWest’s £200 switching offer has now ended. The information below is for reference only. For switching deals available now, make sure to check out our switching deals guide.

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A new £200 switching bonus from NatWest and RBS launched on 15 February 2024. Here’s how to get the money, plus extra. For a full list of switching deals on the market, you can visit our switching deals guide.

How much can I get with NatWest’s switch deal?

You get £200 within 7 days of meeting the eligibility criteria listed below. Once you switch, you can also access the Digital Regular Saver at 6.17% AER (variable) on balances up to £5,000. If you save the maximum amount of £150 a month into the savings account, you’ll have £59.83 in interest after a year.

If you choose the Reward Account, you can get £5 a month extra – £4 for having 2 monthly direct debits worth over £2 and a further £1 for logging in to the mobile banking app once during the month. By doing so, you can earn an additional £36 per year after accounting for the Reward Account’s £2 monthly fee.

That’s £295.83 in your first year, including switching bonus, maximum savings interest and monthly rewards.

Who can get the deal?

New and existing NatWest customers can get it – one bonus per person (or one payment per joint account).

You can’t qualify if:

  • You’ve had a switch bonus since January 2020 for moving to a bank within the NatWest Group (NatWest, RBS, Ulster Bank).
  • You’re not switching to a Select or Reward account from the following list: Select (no monthly fee), Reward, Premier Select, Premier Reward, Premier Reward Black (there’s a longer list for existing customers).
  • You’re not a UK resident.
  • You’re not aged 18+.
  • You don’t fulfil all the terms – listed below.

How can I get the deal?

Requirements to get the £200 switching bonus

  • Apply online or via the NatWest mobile app (no monthly fee for the Select account).
  • Switch a current account held elsewhere using the Current Account Switch Service into a NatWest bank account.
  • Deposit £1,250 into your account and leave it there for at least 24 hours.
  • Log in to the mobile banking app within 60 days.

Exclusions

  • You won’t be eligible to earn £200 if you’ve taken advantage of a cash switcher offer from NatWest, Royal Bank of Scotland plc or Ulster Bank since 1 January 2020.
  • Joint accounts will only be eligible for one payment.

When the offer ends

The offer will end on Tuesday 2nd April 2024.

Compare NatWest current accounts

1 - 3 of 3
Updated daily
Name Product Finder Score Account fees Funding requirement Interest (AER) Arranged overdraft Incentive Representative example Link
Select Account
Select Account
4.3
★★★★★
£0
No minimum funding requirement
0% AER
39.49% EAR variable (subject to status)
Current account switch service guarantee badge
You must be 18+ and a UK resident.
Representative Example: Effective Annual Rate: 39.49% EAR (variable). Representative APR: 39.49% APR (variable). Assumed credit limit: £1,200 Subject to status. How does this overdraft compare? Representative APRs help you compare the cost of different credit products.
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View details
Reward Account
Reward
4.2
★★★★★
£2 per month
Min. £1250 Per Month
0% AER
39.49% EAR variable (subject to status)
You must be 18+ and a UK resident. Earn up to £5/month in Rewards (£4 with 2x +£2 direct debits set up, £1 for monthly app log in) and from 1% in Rewards when you spend with selected partners.
Current account switch service guarantee badgeRepresentative Example: Effective Annual Rate: 39.49% EAR (variable). Representative APR: 39.49% APR (variable). Assumed credit limit: £1,200 Subject to status. How does this overdraft compare? Representative APRs help you compare the cost of different credit products.
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View details
Premier Select Account
OFFER
Premier Select
3.9
★★★★★
£0
No minimum funding requirement
0% AER
34.49% EAR (variable)
No foreign transaction fees on purchases abroad (ATM withdrawals & local fees may apply).
Current account switch service guarantee badge
To apply, you need to be 18+ and a UK resident and have ONE of the following: Pay a minimum £100k sole income or £120k joint income paid into a NatWest account. Have £500k minimum mortgage borrowing with us. A minimum £100k savings or investments held with us.
Representative Example: Assumed arranged overdraft of £1,200. Effective annual interest rate 0% on arranged overdrafts up to £500, 34.49% EAR (variable) above £500. Representative 20.1% APR (variable). How does this overdraft compare? Representative APRs help you compare the cost of different credit products.
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View details
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Banking scores

★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor

Finder scores, in blue, are based on our expert analysis. We also show reviews from users, where we've received more than 10, with a score in yellow. We gather more reviews from customers every year in Finder's customer satisfaction survey.

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We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.
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To make sure you get accurate and helpful information, this guide has been edited by Holly Jennings as part of our fact-checking process.
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Editor-in-chief

Liz Edwards has been a consumer writer and editor for more than 20 years. She led award-winning teams at the campaigning publisher Which?, and has covered a range of consumer rights and personal finance topics including pensions, credit, banking and insurance. Liz has appeared frequently in national media such as The Sun, Metro, HuffPost and The Independent. She loves to cut through waffle to give consumers the real lowdown. And she loves puns. See full bio

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Liz has written 108 Finder guides across topics including:
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  • Saving money
  • Buy now, pay later
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  • Consumer trends
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