I've just took advantage of this offer, hopefully it will work as expected. Actually I tried to switch to Santander a couple of weeks ago but they wouldn't let me since I don't have a credit score (yet). I moved to the UK just recently and this is my first English bank account. Annoying but at least NatWest lets me create an account anyway. Thank you for your useful videos
That's great news indeed! I'm also an existing NatWest customer and have had the Regular Saver account for about a year now. I wasn't aware of today's rate rise till I watched the video. Yesterday, when I last checked, the interest rate was still 5.12%. I've already been deliberating switching to Rewards account, as that'd give me an extra net profit of £3 per month.
It is, but the way the interest is calculated and not compounded and also decreases from day 1 means the effective interest on 12 payments is half of the rate advertised as a rough guide... you are better with a chase Bank 3.1% saver with £150/month paid in than using a 6.17% regular Saver.
If you're just waiting around for banks anyway because you've had switching offers from all of them it's worth switching anyway, even if you don't want to use the saver. Banks can make mistakes and pay you the incentive accidentally, it's happened to me. If they don't ask for it back then that's their problem... 🤷 The only risk to you would be slightly lower credit score from an extra switch and obviously if they do ask for it back then you'd have to pay them otherwise they will sue you lol
Credit scores don't mean anything. It's a directory used for sales leads and people have been led to believe they must keep it up to date for companies trading their personal info. You try getting something changed on a report that is not correct if it means transunion, equifax or others can no longer make money - they will refuse to correct it.
@@OH2023-cj9if I mean they definitely do "mean something" because they are used to determine whether you are accepted for a loan or current account, they are used to determine the rate you repay on your mortgage. If you're trying to get information changed just to benefit you they probably won't like it, doesn't mean everything is corrupt, you probably just have something in your file that they have reason to believe is true, logically if you did their job you wouldn't be able to just accept something that someone says over the phone as true without any proof. But no, it isn't "just a directory used for sales leads" it is three different companies algorithms used by essentially all financial institutions and tenancy companies to determine your likelihood to pay on time, as best they can. The point of my comment was, having a slightly lower one from applying to something you know you might get rejected for could have an impact on how much you pay in future, the risk reward of not going for it vs getting an extra £200 maybe but then having to pay more for your mortgage or being rejected for another bank the next month that you might have been certain to get the money for, is something each person would need to weigh up themselves.
@@emmanuelm777 As far as I am aware the money can go in one day and come out the next. You then get the reward 7 days later. And it seems that RBS Natwest group didn't actually put any checks in place for if you've already had the reward before because everyone seems to have been getting it from each bank.
Awesome. Just switched/closed a dormant and empty First Direct account I had to my existing NatWest account. 200 notes for nothing basically. Hopefully anyway, subject to a loophole I might’ve missed!
I’m I right in saying, Paying £150.00 per month into the 6.17% account, Over 1 year you’ll have £1800, from your own deposits and the interest you’d have earned will be £748.71? Making the total amount £2548.71
Right decided to move I wanted my 8% cashback from sainsburys but will settle for 200 instead. Went for reward account because I can put 1250 in and have 2 dd this will be my 2nd account for a while and hope for coop/ tsb/ barclays later on this year. Too late now I suspect
I have to change my bank now as my account is being withdrawn - it was previously linked to a mortgage I no longer have. Great to see the options and free money 🙀
Hi Andy, Never knew that switching account will get some money. Came across your video couple of weeks back, switched to Lloyd’s got the money.. Thank you 👍 Quick question, I have starling account and I don’t want to close it.. They have another option called additional personnel account for current account holders will that be qualified for switching?
Hi Andy thanks for this I’ve done the switch but just wondered once I’ve put in the 1250.00 how long does it need to stay in? Is it just until you get the 200.00?
Hi Andy my wife made the switch on the day we saw this, Feb 15thish, she was switching from her nat west current account, we still havent recieved the £200 for switching even tho we meet all the criteria. We telephoned the bank and they say that this was only available for non nat west customers, on checking the small print it now says it is only available to non nat west customers switching. I believe they have changed the small print and renaged on this offer to us.
It was always a requirement to switch into NatWest (or RBS) from a different bank. Though if you’ve not had the switch cash then you can still switch into the NatWest account - as long as you have a spare account
Thanks you for the video. I need to open a community account but struggling because I have a really poor credit history. Do you know any UK company’s that could help? Thanks
I just went on First Direct to see about opening up a dummy account, they have a switching offer, did this just get released today and you're in the process of making a vid?
Hi andy, informative video, is there anything in the conditions that stops me opening a Santander account and then immediately switching to my existing NatWest reward account? Thanks
Can someone explain the advantage for Natwest? I understand the aim is to gain customers and market share but it seems like an expensive marketing campaign for Natwest especially if people decide to switch back after receiving the offer.
Andy you got a bit confusing near the end of this......@6:42 It's not £300 in the first year as you can only put £150 a month in, therefore £1800 total in the first year = £59.83 interest. Even if you add the £200 switching bonus you're still only at £259.83, so where you getting £300 from? When you look at the first year for someone already with Natwest, it's only making £6 more than leaving the £1,800 cash in Chase for a year anyway. So for me, I open the new 6.17% regular saver (I already have a Natwest account) and in the first year make nothing but £6. By then a lot could have changed and is it really worth it? Hmm. I suppose after year one I've got £1,859.83 earning 6.17% AND £150 a month going in too.
@@Richard_Barnes on the Reward current account - For a £2/month fee, you get £1 for logging in to online banking (per month) and £2 for each of two direct debits of £2 or over (per month). So net gain of £3/ month or £36/ year.
Hi Andy! I am looking to switch my current account, however I get paid on the 24th of Feb. Shall I proceed to do the switch now or should I wait until after I’ve been paid? :)
Hey Adam, thanks for the video. Made me realise I had forgotten to pay in the monthly amount to my existing Natwest Rewards each month 😅 When it comes to ‘minimum monthly pay ins’, can you simply transfer the money across and then back to your main account?
Hi Andy quick question. Can I open a spare starling account and then ones it’s open switch straight away to NatWest or there has to be some time very I can switch.
Shame I had a switching bonus from them last year, I would have done this! Will the savings rate increase from tomorrow? I logged onto the app and it’s still showing 5.12% as the rate.
when i switch will the money from the dummie account go to and if i just close the dummie account while switching and sent the 1000 pound to deposit to lloyds silver will i get the bonus
Do you have to close your account you're switching from'? I've got a dummy Lloyds account with no DDs but would like to keep it open for now, my main bank is NatWest with multiple accounts
I haven’t switched to NatWest before but I had NatWest in 2020 and closed it. Will I be eligible for this switch as well? I’ll switch from Bank of Scotland to NatWest. I only have mortgage from NatWest but I don’t have any bank account.
Has anyone received the £200 switch incentive before the 7 days period after following the requirements? Also can you pay in more than £1,250 and still be eligible as there is nothing to say that it has to be at least £1,250.
Hi, question on the £1250 - by paying in does it mean actually going into the bank and physically depositing cash? Does it work if someone transfer the £1250 in your account? It’s been 7 days for me and still haven’t got the £200
Giving this a go switching from a dummy RBS account but it says I can't switch from NatWest to NatWest. Do I need to do this as if I had a NatWest account, even though it's RBS? And, I'm still entitled to the bonus?
About the £1,250 Deposit, can this be any deposit into the account (such as monthly salary, or a deposit from another person into the account)? Or should the deposit be in cash? Or coming from the account holder as a transfer from another bank account?
A friend of mine started with £100 , he then bacs it backwards and forwards (13 times) from another account , 7 days later he saw the £200 as a "cash credit". It doesn't matter how its paid in , salary, benefits , bank transfers etc as long as you have credited your account with £1250 minimum in payments you will receive it . People worry thinking that it will take time to reach the £1250 , well you can do it very quickly with only a few 💰 in your pocket
Hi Andy, im a bit confused here - if you are a new NatWest customer, does the £1250 have to paid in AFTER the switch completes or can it be paid in as soon as the account is opened?
WARNING they close your old account and send a new debit card... with no pin or card details. Allow at least a week with another method of paying. Currently stuck with no access to funds until my pin arrives. Well played Natwest. Be glad to take the £200 and leave.
Just to check, does the £1250 need to be in the account as a single sum or is it taken as money that has passed through the account? For example.... Day 1.) i put £300 in the account Day 2.) it gets spent . Day 3.) put £700 in the account . Day 4.) spend it .. Day 5.) put £250 in the account. Would that mean that I've reached the £1250 requirement? Cheers all.
@@LL24__A bit late for reply but for anyone else , my friend bacs £100 back and forth 13 times to reach the 1250 . He got the 200 cash credit 6 days later , his balance showing £1500 ( 1300 in deposits plus the 200)
Myself and my partner tried to open Select account after putting in our address message pops up saying "can't apply online". Therefore unable to proceed! Anyone else getting this message? Is there a way round this? Thanks
@@stewartborland have u switch to rbs I applied for the switch yesterday and I transfer 625 to rbs twice So it's 1250 ? Is this okay ? Have u received ur bonus
Hi all, I have two questions here! 1) I have a nationwide flexdirect. I can create a dummy account with nationwide the flexaccount purely to switch for the NatWest switch bonus! This should be fine? 2) I already have a NatWest reward, will I still be eligible for switch bonus by creating the NatWest select current account?
Hi Andy I have few bank account. Can I choose from which one I would like to switch to NatWest or NatWest choosing my main bank? Sorry but maybe it’s stupid question but I never used switch offers and I don’t know how this is working. Thank you
@@BeCleverWithYourCash thanks for reply. I realized even the chase account is not eligible for switch deal? What kind of accounts are accepted for this switch deal, please suggest, thanks
Hi Andy, quick question. What if you ever want to stop that savings account and just take all the money and go somewhere else. Is it possible to close that account any time for free?
Hi Andy , I realy want to start taking advantage of the switching bonuses and Natwest is an obvious choice but I di have the one concern , do u need to inform my workplace / wages depth if the change , ie new account details or does this automatically get taken care of during the switch over ? Any help would be fantastic, thanks and keep up the great work .
My old account I'll be switching from has more than £1250 in it. When it's transfered over will that be classed as the £1250 deposit, or would I then have to deposit £1250 from another source?
@Ashley Rowe no answer, but I followed through with the switch and then moved my own money from a separate account into the new account and it worked. I got a text message a few days later saying I'd qualified.
@@adamgray4288 thanks mate, id already completed the switch yesterday so just to be on the safe side i have just transferred out the money and put it back in
OMG no direct debits! Absolutely beautiful!
Woke up to the lovely news that NatWest just paid me the £200 deposit 🎉
Did you only have to deposit £1250. So say I put in £500 send it back out in in again and back again and then £250 into them I would receive it ?
Shame you can't get it if you've done an RBS switch in last few years.
did you get a email? i did it before my card come, did you and did you get a email when you did it all?
How long did it take to receive the bonus
@@zeinjag took me 3 days
I've just took advantage of this offer, hopefully it will work as expected. Actually I tried to switch to Santander a couple of weeks ago but they wouldn't let me since I don't have a credit score (yet). I moved to the UK just recently and this is my first English bank account. Annoying but at least NatWest lets me create an account anyway. Thank you for your useful videos
How does one switch the account? Is there a process?
My interest was changed from 5.12% to 6.17 today.
Thanks Natwest
That's great news indeed! I'm also an existing NatWest customer and have had the Regular Saver account for about a year now. I wasn't aware of today's rate rise till I watched the video. Yesterday, when I last checked, the interest rate was still 5.12%. I've already been deliberating switching to Rewards account, as that'd give me an extra net profit of £3 per month.
This is digital regular saver?
@@albertocoutinho5703 yes, its. Max. monthly payment £150. This product is only available to those who hold a current account with the bank.
Nice to see the regular saver interest going up 👍
It is, but the way the interest is calculated and not compounded and also decreases from day 1 means the effective interest on 12 payments is half of the rate advertised as a rough guide... you are better with a chase Bank 3.1% saver with £150/month paid in than using a 6.17% regular Saver.
If you're just waiting around for banks anyway because you've had switching offers from all of them it's worth switching anyway, even if you don't want to use the saver.
Banks can make mistakes and pay you the incentive accidentally, it's happened to me. If they don't ask for it back then that's their problem... 🤷
The only risk to you would be slightly lower credit score from an extra switch and obviously if they do ask for it back then you'd have to pay them otherwise they will sue you lol
Credit scores don't mean anything. It's a directory used for sales leads and people have been led to believe they must keep it up to date for companies trading their personal info.
You try getting something changed on a report that is not correct if it means transunion, equifax or others can no longer make money - they will refuse to correct it.
How long does the £1250 need to stay there for??
@@OH2023-cj9if I mean they definitely do "mean something" because they are used to determine whether you are accepted for a loan or current account, they are used to determine the rate you repay on your mortgage.
If you're trying to get information changed just to benefit you they probably won't like it, doesn't mean everything is corrupt, you probably just have something in your file that they have reason to believe is true, logically if you did their job you wouldn't be able to just accept something that someone says over the phone as true without any proof.
But no, it isn't "just a directory used for sales leads" it is three different companies algorithms used by essentially all financial institutions and tenancy companies to determine your likelihood to pay on time, as best they can.
The point of my comment was, having a slightly lower one from applying to something you know you might get rejected for could have an impact on how much you pay in future, the risk reward of not going for it vs getting an extra £200 maybe but then having to pay more for your mortgage or being rejected for another bank the next month that you might have been certain to get the money for, is something each person would need to weigh up themselves.
@@emmanuelm777 As far as I am aware the money can go in one day and come out the next.
You then get the reward 7 days later. And it seems that RBS Natwest group didn't actually put any checks in place for if you've already had the reward before because everyone seems to have been getting it from each bank.
Omg another one !! Loving it thanks Andy x
Awesome. Just switched/closed a dormant and empty First Direct account I had to my existing NatWest account. 200 notes for nothing basically. Hopefully anyway, subject to a loophole I might’ve missed!
Got an email from NatWest saying all set up, then a minute later an email saying they weren’t going to offer me an account
Same here anyone know why this is
Update - got my £200 in today 😊 easiest cash I’ve earnt for a while. I can’t believe no direct debits were needed. Brilliant swap 👍🏻
Same ! Talk about east money
How long after switch went through did it take to receive payment?
@@jakemorj5498 my switch went through and on that switching day I put in the £1250. It was then only 2 business days and I had the £200 👍🏻
@@Richard_Barnes Same ! We must have been on the same list buddy 😂
Do you have to wait for your switch to be completed to put in the £1250?
I’m I right in saying, Paying £150.00 per month into the 6.17% account, Over 1 year you’ll have £1800, from your own deposits and the interest you’d have earned will be £748.71? Making the total amount £2548.71
I did switch from Monzo to NatWest and got benefited with the offer ! Thanks Andy
Did you have to wait until your switch was fully complete to deposit 1,250?
Right decided to move I wanted my 8% cashback from sainsburys but will settle for 200 instead. Went for reward account because I can put 1250 in and have 2 dd this will be my 2nd account for a while and hope for coop/ tsb/ barclays later on this year. Too late now I suspect
8% cashback at sainsburys wheres that from?
@@MrRaisin56 lloyds everyday offers
I have to change my bank now as my account is being withdrawn - it was previously linked to a mortgage I no longer have. Great to see the options and free money 🙀
I just switched my 2nd current/dormant account (Lloyds) to Natwest for this £200 switch offer. Still awaiting for the money.
did you get the money? also how long did you keep the 1250 in there for?
Thank you for this Andy. Switch completed ✅
Got the £200 bonus two days after my switch was complete. They even messaged me that the bonus was transfered into my account.
Hi Andy, Never knew that switching account will get some money. Came across your video couple of weeks back, switched to Lloyd’s got the money.. Thank you 👍
Quick question, I have starling account and I don’t want to close it.. They have another option called additional personnel account for current account holders will that be qualified for switching?
Just created my dummy account with starling to switch to first direct and then nat west hopefully there both still available
Hi Andy thanks for this I’ve done the switch but just wondered once I’ve put in the 1250.00 how long does it need to stay in? Is it just until you get the 200.00?
I'd keep it in until you receive the £200, then transfer all of it straight out
You can transfer out the funds on the very next moment once you deposit
@@premprakash1997and it works??
@@arthikbasnet_4655 obviously
A transaction must be recorded in as credited in your statements. No matter if you take out the funds or keep them as they are
Do you have to keep the £1,250 in the account or can you transfer it out/ spend it and srill qualify for the £200?
Applied today, might end up with £1000 in bank switches this year. Skipping tsb tho too much effort
Yeah, it’s a lot!
WHO'S GOING TO TRY THIS EVEN THOUGH THEY DONE THE 175 LAST YEAR?? do you think it will work?
Hi Andy my wife made the switch on the day we saw this, Feb 15thish, she was switching from her nat west current account, we still havent recieved the £200 for switching even tho we meet all the criteria. We telephoned the bank and they say that this was only available for non nat west customers, on checking the small print it now says it is only available to non nat west customers switching. I believe they have changed the small print and renaged on this offer to us.
It was always a requirement to switch into NatWest (or RBS) from a different bank. Though if you’ve not had the switch cash then you can still switch into the NatWest account - as long as you have a spare account
@@BeCleverWithYourCash I must of misunderstood this video , thx for the reply
worth mentioning the reward credit card is not bad as well (1% cashback at supermarkets), fee is refunded if you have the reward account
Oohh I might give that a go once my nationwide 5% return expires
Nah, it's rubbish. The balance takes days to update unlike Barclaycard.
Thanks you for the video. I need to open a community account but struggling because I have a really poor credit history. Do you know any UK company’s that could help? Thanks
Thank mate,easy money.
Glad it helped
I just went on First Direct to see about opening up a dummy account, they have a switching offer, did this just get released today and you're in the process of making a vid?
No it's been agesx
Can i pay in the £1,250, from an existing account of mine, in the same app - into the new account i opened in the app
What happens if you have £1,250 in your current account? Do they take that as the £1,250?
I'm curious about this too!
Hi andy, informative video, is there anything in the conditions that stops me opening a Santander account and then immediately switching to my existing NatWest reward account? Thanks
How long does the money have to stay in the account to qualify for the £200?
Did you end up finding the answer for this?
I was assuming as soon as you put the money in you can take it out again..
Did it for me and close family and got £1000 between us
Is it me or is switching a joint account a pain. All this digidocs crap.
Hi there do you need to physically deposit money into the account or can you bank transfer into the account?
Do I have to fund the new natwest current account with only £1250.00 and will putting more money in, exempt me from getting the £200 for switching?
Opened Select account and 2 days after opening got text saying my £200 was in my account😁
I reached the 1250 money last Saturday..and still no response from NatWest 😢
Must it be 1250 or it can be above? Also do I need to leave the money there in the account or I can start spending from it?
Can someone explain the advantage for Natwest? I understand the aim is to gain customers and market share but it seems like an expensive marketing campaign for Natwest especially if people decide to switch back after receiving the offer.
Andy you got a bit confusing near the end of this......@6:42 It's not £300 in the first year as you can only put £150 a month in, therefore £1800 total in the first year = £59.83 interest. Even if you add the £200 switching bonus you're still only at £259.83, so where you getting £300 from?
When you look at the first year for someone already with Natwest, it's only making £6 more than leaving the £1,800 cash in Chase for a year anyway.
So for me, I open the new 6.17% regular saver (I already have a Natwest account) and in the first year make nothing but £6. By then a lot could have changed and is it really worth it? Hmm. I suppose after year one I've got £1,859.83 earning 6.17% AND £150 a month going in too.
£300 refers to total gain from the switching offer (200), rewards (36) and interest if you max out the regular saver. 🙂👍🏻
@@quizmastergary Thx, what rewards?
@@Richard_Barnes on the Reward current account - For a £2/month fee, you get £1 for logging in to online banking (per month) and £2 for each of two direct debits of £2 or over (per month). So net gain of £3/ month or £36/ year.
As Gary says, it’s the Reward account payment
Isn't Chase only giving 3% at present or are they offering more?
Hi Andy! I am looking to switch my current account, however I get paid on the 24th of Feb. Shall I proceed to do the switch now or should I wait until after I’ve been paid? :)
Hi Andy, do you have to close the account you are switching from? As Nationwide flex would then not let me get the 5% interest by reopening
Yes that will close
@@BeCleverWithYourCash thanks, o guess the £200 offsets the loss in interest Vs other accounts
Hey Adam, thanks for the video. Made me realise I had forgotten to pay in the monthly amount to my existing Natwest Rewards each month 😅
When it comes to ‘minimum monthly pay ins’, can you simply transfer the money across and then back to your main account?
Yeah you can transfer the money in and back to your main account immediately
Hi Andy quick question. Can I open a spare starling account and then ones it’s open switch straight away to NatWest or there has to be some time very I can switch.
2017!!!
That’s all of us
😂
Shame I had a switching bonus from them last year, I would have done this! Will the savings rate increase from tomorrow? I logged onto the app and it’s still showing 5.12% as the rate.
Yeah, it's changing tomorrow
If I have an existing account do I have to switch in from another bank?
If you put more than £150 in the regular saver it doesn't stop you because that's what I did but do you not earn the interest rate for that month?
So just to make sure you can’t access the 6.17% rate with just a select account
Does this affect your credit rating if you were looking to get a mortgage?
My switch to cooperative completes on 6/3/23 could I switch to NatWest now and set the switch date for mid march?
Yes you should be able to select a date on the next month
Hi Andy do I have enough time to open a burner account and switch without effecting my credit score
I've got a joint account already. How does this work when switching to natwest?
do you get an email confirming that your account is eligible to receive the money or do you just deposit the 1250 and wait
when i switch will the money from the dummie account go to and if i just close the dummie account while switching and sent the 1000 pound to deposit to lloyds silver will i get the bonus
also, is it possible to open a new account somewhere else and immediately switch it over to get the £200 ?
Is there a way to send more than £150 per month to savings account except for round ups?
Do you have to close your account you're switching from'? I've got a dummy Lloyds account with no DDs but would like to keep it open for now, my main bank is NatWest with multiple accounts
I haven’t switched to NatWest before but I had NatWest in 2020 and closed it. Will I be eligible for this switch as well? I’ll switch from Bank of Scotland to NatWest. I only have mortgage from NatWest but I don’t have any bank account.
Ohh it's very tempting to move now
Has anyone received the £200 switch incentive before the 7 days period after following the requirements?
Also can you pay in more than £1,250 and still be eligible as there is nothing to say that it has to be at least £1,250.
Yes, i received my £200 took three days.
Yes, you can deposit more than £1250 and if you want, open up savings accounts while you wait
Hey folks! I’m thinking of opening an account with NatWest, anyone fancy sharing their thoughts on the bank from a customer service pov?
Hi Andy how often can you switch to a different bank?
Hi Andy can I use chase account for the switch
Are Natwest paying the £200 switch incentive late??
Hi, question on the £1250 - by paying in does it mean actually going into the bank and physically depositing cash? Does it work if someone transfer the £1250 in your account? It’s been 7 days for me and still haven’t got the £200
Did you find out the answer to this?
I have the same doubt.
Can I transfer £500 for example then send the £500 back and then put it in again ?
Giving this a go switching from a dummy RBS account but it says I can't switch from NatWest to NatWest. Do I need to do this as if I had a NatWest account, even though it's RBS? And, I'm still entitled to the bonus?
About the £1,250 Deposit, can this be any deposit into the account (such as monthly salary, or a deposit from another person into the account)? Or should the deposit be in cash? Or coming from the account holder as a transfer from another bank account?
A friend of mine started with £100 , he then bacs it backwards and forwards (13 times) from another account , 7 days later he saw the £200 as a "cash credit". It doesn't matter how its paid in , salary, benefits , bank transfers etc as long as you have credited your account with £1250 minimum in payments you will receive it . People worry thinking that it will take time to reach the £1250 , well you can do it very quickly with only a few 💰 in your pocket
Does this blow Barclays Rainy Day out of the water given the hops Barclays have you jump through?
No, as that’s a £5k lump sum and this is £150 a month
Hi Andy
Can I switch from Chase?
Thanks so much Andy, much appreciated 😀
No, Chase not part of the CASS (current account switching service)
@@kartace1 thanks 😀
So you get the money after 60 days of switching
Does it applies to joint accounts as well? Thanks.
I’d also like to know
Hi Andy, im a bit confused here - if you are a new NatWest customer, does the £1250 have to paid in AFTER the switch completes or can it be paid in as soon as the account is opened?
No, you can deposit the money as soon as the NatWest account is open, once the switch completes you'll get the money about a week later on average
@@DeckTested That's great, thanks mate!
Guys, a question. Do I need to pay 1250 and keep the money till paid or can I just pay and move money next day?
WARNING they close your old account and send a new debit card... with no pin or card details.
Allow at least a week with another method of paying.
Currently stuck with no access to funds until my pin arrives. Well played Natwest. Be glad to take the £200 and leave.
So did you get your fund back
Just to check, does the £1250 need to be in the account as a single sum or is it taken as money that has passed through the account?
For example....
Day 1.) i put £300 in the account
Day 2.) it gets spent .
Day 3.) put £700 in the account .
Day 4.) spend it ..
Day 5.) put £250 in the account.
Would that mean that I've reached the £1250 requirement?
Cheers all.
I'm wondering this too!
@@Ash-up9gl you sont have to acc spend the money. just deposit it then transfer back to your old account or leave it there
@@benpearce781can I deposit 500, transfer it back, and then deposit 750
@@LL24__A bit late for reply but for anyone else , my friend bacs £100 back and forth 13 times to reach the 1250 . He got the 200 cash credit 6 days later , his balance showing £1500 ( 1300 in deposits plus the 200)
Have you any thoughts on weare8 or sprive?
Myself and my partner tried to open Select account after putting in our address message pops up saying "can't apply online". Therefore unable to proceed! Anyone else getting this message? Is there a way round this? Thanks
Did you try the app?
@@comfortzone5618
Tried that suggestion when you start application takes you to browser 🙁
@@mazbharmal8144 sorry! Not sure what that’s happening. I was able to open my select account without any issue.
Hi Andy, is it the same for the Royal Bank (usually is) but you haven't mentioned, so maybe not this time?
Regular saver is up. Not sure about the switching offer though
It's up on the Royal Bank website now thanks.
@@stewartborland have u switch to rbs
I applied for the switch yesterday and I transfer 625 to rbs twice
So it's 1250 ? Is this okay ?
Have u received ur bonus
Hi Andy, once I put in the 1250.00, how long does it need to stay in? Is it just until you get the 200.00?
No time at all
hi andy i opened a nat west account as a dummy last week and don't want to switch from Monzo as i'm switching to kroo can you advise.
Do I need to keep the 1250£ without use for the 7 days, or can I use the money for the day-by-day shopping ?
You can transfer it straight back out if you want
Hi Andy! Do I need to pay tax on switch bonus and cashback?
No, not on switch bonuses or cashback
Boo, we all switched back in Feb 22
Hi all, I have two questions here!
1) I have a nationwide flexdirect. I can create a dummy account with nationwide the flexaccount purely to switch for the NatWest switch bonus! This should be fine?
2) I already have a NatWest reward, will I still be eligible for switch bonus by creating the NatWest select current account?
1- yes that should be fine!!
2- yes that’s should be fine aswell
One day ago I opened Revolut account can I switch that account and get £ 200
And how long I need to stay with this natwest account
No, Revoult isn't part of CASS. There's 40 banks part of CASS, Monzo & Starling are the easiest to open up to get started as 'dummy accounts'
@@Maydaymusik Thank You
Hi Andy
I have few bank account. Can I choose from which one I would like to switch to NatWest or NatWest choosing my main bank?
Sorry but maybe it’s stupid question but I never used switch offers and I don’t know how this is working. Thank you
You can choose from anyone to switch it does not have to be your main account
@@comfortzone5618 thank you very much
Hi Andy, this bank switching deal can be availed using Monese account? Not able to get it through. Please advise, thanks
Sadly not
@@BeCleverWithYourCash thanks for reply. I realized even the chase account is not eligible for switch deal? What kind of accounts are accepted for this switch deal, please suggest, thanks
When it says “deposit” £1,250 can this be a bank transfer or do you have to physically go into a bank and deposit cash?
Transfer is fine
@@BeCleverWithYourCashcan I transfer the 1250 from another NatWest I have into the switched NatWest account?
And we said that we can switch from monzo or revolut yeah?
Not revolut
Hi Andy, quick question. What if you ever want to stop that savings account and just take all the money and go somewhere else. Is it possible to close that account any time for free?
yeah, close whenever
@@JamieBarton1984 Thank you
Can I switch account with a nil balance and no direct debits?
Yes! you can
Could you just transfer say £250 in and out 5 times to hit the threshold?
Yes you can!!! He did mention that in this video.
@@comfortzone5618 he mentions that you can move it in chunks, but not that you can move it out and back in over and over. You sure it works?
@@razryn.u1YM0J4byXLb yes I am sure it works!
@@comfortzone5618 do we need to withdraw the money from atm machines and put it back or can i jusr tranfer it via online banking
@@ebec908you can make the transfers via online banking.
Can you switch current account straight after already switching?
Yep, as long as you met the terms of the previous switch and know they’ll be an impact on credit score
@@BeCleverWithYourCash Sorry to bother you again, what do you mean when you say met the terms of the previous switch?
@@ish6622 yeah you can switch straight away providing that there is no specified duration that you need to stay with the bank.
Hi Andy , I realy want to start taking advantage of the switching bonuses and Natwest is an obvious choice but I di have the one concern , do u need to inform my workplace / wages depth if the change , ie new account details or does this automatically get taken care of during the switch over ? Any help would be fantastic, thanks and keep up the great work .
The switch automatically does this its a very quick stress free process
Is the NatWest and RBS the same deal? Who has the better banking app?
It’s exactly the same
@@BeCleverWithYourCash thank you. Love your channel. This will be my first ever bank account switch.
Can I open the new account but not switch any account to NatWest to enjoy this offer?
You have to switch to get the bonus
Can you put £625 in then remove, then put another £625 in and that counts as the £1250?
Yep
My old account I'll be switching from has more than £1250 in it. When it's transfered over will that be classed as the £1250 deposit, or would I then have to deposit £1250 from another source?
Did you ever get an answer to this ? Im in the same boat
@Ashley Rowe no answer, but I followed through with the switch and then moved my own money from a separate account into the new account and it worked. I got a text message a few days later saying I'd qualified.
So take the money out of the account before the switch, then transfer it into the new account after 👍
@@adamgray4288 thanks mate, id already completed the switch yesterday so just to be on the safe side i have just transferred out the money and put it back in