{"id":44501,"date":"2026-05-21T18:49:15","date_gmt":"2026-05-21T18:49:15","guid":{"rendered":"https:\/\/www.europesays.com\/britain\/44501\/"},"modified":"2026-05-21T18:49:15","modified_gmt":"2026-05-21T18:49:15","slug":"how-does-natwests-150-bank-switch-offer-stack-up-against-the-competition","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/britain\/44501\/","title":{"rendered":"How does NatWest\u2019s \u00a3150 bank switch offer stack up against the competition?"},"content":{"rendered":"\n

NatWest<\/a> is the latest bank to offer up a significant cash bonus for new customers opening a current account, with a \u00a3150 pot on the table, along with other benefits.<\/p>\n

Switch incentives are a common tactic among banks<\/a> and building societies to tempt consumers to move – and they can not only provide a lucrative bump to your balance, but also offer longer-term perks too.<\/p>\n

Choosing which one, or ones, benefits you most before you make any move is important, and it often pays to look beyond the headline amount before deciding.<\/p>\n

Savings rates, ongoing freebies, customer service, local branches, app ease of use and more should all be considered according to your situation and needs – but above all else, you should make sure you\u2019re maximising how hard your money<\/a> works for you and not just stay with your current provider because you\u2019ve simply always been there.<\/p>\n

In banking, the unfortunate truth is that loyalty rarely pays – which is why over 12m people have changed banks over the last dozen years using the Current Account Switch Service (CASS).<\/p>\n

What is the CASS? <\/p>\n

CASS is a free service which you can use to move bank accounts. Once you tell them your old bank details and where you want to move to, the service does the heavy lifting: direct debits, payee details, existing cash balance and everything else. It can take about a week usually but you\u2019ll be informed of timelines when you move.<\/p>\n

You can read more on it here<\/a>.<\/p>\n

Before moving to any new account, make sure you know the terms, as to get the switch cash and any additional perks your new bank or building society<\/a> will ask for a few specific things in each case: that could a set number of direct debits, putting a specific amount of cash in during your first month, using the app or similar. They are all slightly different, so do check.<\/p>\n

You also usually can\u2019t get the cash offer if you\u2019ve been a recent customer of the bank or building society.<\/p>\n

NatWest: \u00a3150 switch offer <\/p>\n

So, NatWest\u2019s offer. It\u2019s \u00a3150 as the basic offer, if you start your switch before 28 May. That\u2019s a fairly standard rate, not the best but a frequent amount offered by many banks.<\/p>\n

\" (AFP via Getty Images) <\/p>\n

But as well as that, if you open their digital regular saver account by mid-June, you\u2019ll get a boosted rate on your savings for a year, making it (currently) 7%.<\/p>\n

That rate puts it right in the top bracket of available regular savers, alongside the likes of first direct (7%), Zopa Bank (7.1%) and Principality\u2019s fixed saver (7.5%) – however, NatWest\u2019s version only allows you to put away \u00a3150 per month.<\/p>\n

Regular savers are particularly good for starting saving habits or putting cash away you won\u2019t need for a while. Part of that 7% is variable, however, so could change when the Bank of England cuts rates<\/a>.<\/p>\n

\u201cIf you save the maximum amount of \u00a3150 a month into the savings account, you\u2019ll have \u00a368.04 in interest after a year,\u201d explained Finder<\/a>\u2019s money expert Kate Steere – while also pointing out the additional perks NatWest\u2019s deal can bring you.<\/p>\n

\u201cWith the Reward account, you can get \u00a35 a month extra: \u00a34 for having two monthly direct debits worth over \u00a32 and a further \u00a31 for logging in to the mobile banking app once during the month. By doing so, you can earn an additional \u00a336 per year after, accounting for the Reward account\u2019s \u00a32 monthly fee.<\/p>\n

\u201cIncluding the rewards, interest and switch offer that\u2019s \u00a3254.04 in your first year moving to NatWest could give you.\u201d<\/p>\n

Best switch incentives <\/p>\n

The biggest initial cash offer right now comes from Santander, offering \u00a3200 to move. Beyond that figure, there are several account types to choose from; one of the best overall looks like the Edge account which gives cashback on bills, a 6% rate savings account on balances up to \u00a34,000 and more. It comes with a monthly fee, which you can naturally \u201cearn\u201d back through that cashback on bills you pay from your account.<\/p>\n

Danske Bank are similarly offering \u00a3200 but it\u2019s all about that figure and the current account, as their savings rates are well below the best. There are free and paid account choices.<\/p>\n

Nationwide are giving you \u00a3175 to join, with three account options. The FlexDirect is free, gives you 5% interest on balances up to \u00a31,500 for the first year, monthly cashback for debit card purchases and access to the reasonably competitive 6.5% regular saver account (max \u00a3200 per month). They also sometimes pay out extra money to account holders as a profit share.<\/p>\n

\" (Getty Images) <\/p>\n

First direct also offer \u00a3175 to switch, with access to the aforementioned 7% regular saver (\u00a3300 per month max). Otherwise it\u2019s fairly no-frills but the customer service always scores highly.<\/p>\n

Finally we\u2019d also list Co-Op Bank as an option – it\u2019s \u00a3175 in total but you only get \u00a3100 initially, then \u00a325 per month for three more months as long as you\u2019re depositing money, making purchases and so on. Their regular saver is 7% (\u00a3250 per month max) too.<\/p>\n

High earner switch offers <\/p>\n

A brand new offer which started this week, if you have a salary of more than \u00a375,000 (or \u00a3100,000 in savings and investments) you can get \u00a3400 by switching to the Barclays Premier Current Account. That comes with a huge range of perks too such as Apple TV, an MLS subscription, cashback and more.<\/p>\n

HSBC offer \u00a3100,000 earners a \u00a3250 switch bonus, family insurance and other perks.<\/p>\n

Can you switch more than once? <\/p>\n

Yes. There\u2019s nothing stopping you moving banks now, next week or whenever you feel your current account isn\u2019t giving you what you need any more. Opening multiple accounts in a short space might not be the ideal thing to do if you\u2019re considering something big soon – like getting a mortgage – but otherwise, it\u2019s up to banks and building societies to keep customers happy and on board.<\/p>\n","protected":false},"excerpt":{"rendered":"NatWest is the latest bank to offer up a significant cash bonus for new customers opening a current…\n","protected":false},"author":2,"featured_media":44502,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[21386],"tags":[22594,22595,6220,22593,7955,22596],"class_list":["post-44501","post","type-post","status-publish","format-standard","has-post-thumbnail","category-natwest","tag-building-societies","tag-cash-offer","tag-current-account","tag-direct-debits","tag-natwest","tag-switch"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@UnitedKingdom\/116614068364232732","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/44501","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/comments?post=44501"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/44501\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media\/44502"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media?parent=44501"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/categories?post=44501"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/tags?post=44501"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}