In an effort to attract new clients, NatWest has launched a lucrative cash incentive, offering £175 for those who switch their primary current account to the bank. This offer, available through the Current Account Switch Service (CASS), is aimed at people looking for both financial rewards and convenient banking options. The offer is expected to add to the growing trend of banks competing for customers through attractive switch deals.
For many, the process of changing banks can seem like a hassle, but NatWest’s new deal promises to make it a little easier. The bank is not only offering cash rewards but also several other perks that make this promotion particularly enticing.
Cash Rewards and Flexible Banking
According to NatWest, customers who opt to switch their main current account to the bank will receive a £175 cash reward, provided they use the CASS system. In addition to this, they must deposit £1,250 into the new account and log into the mobile app within 60 days. This straightforward process ensures that the switch is smooth, while also encouraging engagement with NatWest’s digital services.
For those who go the extra mile, the bank is also offering an annual £60 in rewards for customers signing up to the NatWest Reward account. The monthly £4 reward for meeting certain conditions, such as having two direct debits of at least £2, makes this an attractive deal for people looking to make the most of their current account. However, it’s worth noting that the Reward account comes with a £2 monthly fee, which must be factored into the decision-making process.
Additional Features to Consider
The £175 cash reward is just the beginning of what NatWest is offering to new customers. Those who take advantage of the bank’s Digital Regular Saver account can earn an interest rate of 5.5% AER on balances up to £5,000. This account provides instant access to savings while offering competitive interest rates—an appealing option for anyone looking to grow their savings efficiently.
Moreover, NatWest’s Travel Reward Credit Card is designed for those who frequently travel. Offering 1% back on travel spending, this card can be especially beneficial for frequent flyers or people who like to take regular holidays. Additionally, the bank’s Round Ups feature helps customers save regularly by rounding up their purchases to the nearest pound.
For families, the Roster Card subscription is another valuable addition. NatWest offers up to three free prepaid debit cards for children, designed to help families develop better money management habits. Normally priced at £1.99 per month, this is a savings of £59.97 for three children, making it an affordable and practical tool for financial education. In a competitive banking landscape, NatWest’s new £175 cash offer combined with a host of extra features provides an attractive incentive for customers looking to switch.
