NatWest is offering a £287 boost to customers through a new switching deal. The bank has launched a fresh £200 cash incentive to attract customers from rival banks, available to new and existing customers who did not hold a NatWest current account on May 6, 2026.
How to Claim the Bonus
Switchers must use the Current Account Switch Service to move to either the fee-free Select account or the £2-a-month Reward account. To qualify, customers need to pay in £1,250 (which can be made in multiple payments) within 60 days of the switch and log into the NatWest mobile app. The £200 is then paid within 30 days.
Potential Earnings Over 12 Months
Kate Steere, money expert at comparison site Finder, explained that with NatWest’s new switching deal, customers could be £287 richer by the end of 12 months. She said: “If you opt to switch to the NatWest Reward account, which has a £2 monthly fee, you’ll pocket a £200 switching bonus and £36 in annual rewards (after accounting for the £2 monthly fee). Plus, by maximising the NatWest Digital Regular Saver at 5.25% AER with a £150 monthly deposit, you’ll earn an additional £51 in interest.”
However, she noted that the best switching deal on the market is still Santander’s £180 offer, which includes up to £120 in annual cashback and a 6% AER saver, potentially earning £504 over 12 months.
Account Features
NatWest’s Select account is a five-star rated everyday option with no monthly fee, while the Reward account offers cashback for everyday spending and direct debits for a £2 monthly charge. Both accounts are open to UK residents aged 18 and over.
Important Conditions
The Current Account Switch Service ensures that direct debits, standing orders, and balances move automatically within seven working days. Customers are ineligible if they have previously received a NatWest Group switching incentive. Switches from within the NatWest Group (including Royal Bank of Scotland or Ulster Bank) are excluded. The offer can be withdrawn or changed at any time.
