NatWest customers could get £200 for free and ‘within 30 days’ | Personal Finance | Finance

NatWest has launched one of the most generous cash incentives currently offered to customers. From 6 May 2026, new and selected existing customers can claim a £200 bonus when transferring their banking to an eligible account.

This latest offer marks a significant increase from the £150 cash reward that NatWest and Royal Bank of Scotland (RBS) are promoting in early 2026. The new £200 bonus puts it as a top incentive among other standard current accounts on the market.

on it websiteNatWest says: “This offer is valid for new and existing customers without a NatWest current account from 6 May 2026.” The offer is available for customers who switch their current account to a Select Account or Rewards Account offered by NatWest or RBS via the Current Account Switching Service (CASS).

To qualify for the £200 payment, new customers must comply with three specific conditions within 60 days of successfully completing their migration. First they need to pay a minimum of £1,250. This can be accomplished with one or more payments, but the total amount must be deposited into the account and remain there for at least 24 hours.

Secondly, customers must log in to the mobile application of the relevant bank within the same 60-day period. Once these requirements are met, NatWest or RBS undertakes to pay £200 directly into the customer’s account within 30 days.

NatWest explains: “Open an existing account and switch to us. Apply for a Select or Rewards account and submit and complete a claim. full key You can send it to us from another bank using the Current Account Switching Service.

“Pay £1,250 within 60 days of switching. This can be made in multiple payments and must remain on account for 24 hours. Log in to our mobile app. This can be done on any device that supports the NatWest mobile banking app.”

As for the final step, the bank says: “Once you meet these conditions, we will pay £200 into your eligible account within 30 days.” NatWest and RBS have not specified an end date for this current account replacement offer.

It is important to note the strict eligibility criteria that exclude some potential modifiers. Any customers who have previously taken advantage of the cash replacer offer provided by NatWest, RBS or Ulster Bank will not be eligible to receive this latest bonus.

What about NatWest’s Rewards Account?

While the £200 payment for the Choose Account offer is a significant down payment, customers who choose the Rewards Account also have access to additional ongoing financial benefits. This is especially true for those who continue to pay £1,250 or more each month. Although the rewards account has a monthly fee of £2, the rewards on offer have the potential to comfortably cover this fee.

Reward Account structure encourages active account usage. Customers will automatically earn £4 per month in Rewards by maintaining two or more direct debits worth at least £2. You can earn an extra £1 per month by logging into the bank’s mobile app. This means that with just these two transactions a customer can receive a £5 monthly reward, offsetting the £2 fee and making a net profit.

Beyond these fixed monthly benefits, rewards customers can also accumulate rewards when shopping at NatWest’s partner retailers. These partnership agreements rotate regularly and cover a number of businesses.

Customers can cash out these accumulated Rewards once they have earned at least £5. The value of the rewards can be redeemed in a variety of ways: paid directly into a NatWest current or savings account, exchanged for e-gift cards redeemable at partner retailers or donated to a registered charity.