NatWest says customers will wake up to free £180 payment in bank account

NatWest has announced it will pay a free £180 into people's bank accounts as part of a new switcher offer. Customers can receive up to £359 in benefits and switching customers will receive £180 cash within seven days, the bank has said.

Reward Account offers customers a further £60 a year. Customers can also access a 6% interest rate with a Digital Regular Saver, NatWest said, as well as up to three Rooster cards worth £59.97 for all NatWest customers.

In order to benefit from the offer, customers need to use the Current Account Switcher Service, pay £1,250 into the new account and log into the mobile app within 60 days of switching accounts. The offer is for a limited time and may be withdrawn at any time.

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Customers can also receive a further £60 back in Rewards each year by signing up to the NatWest Reward account. Every month, customers will receive £4 in Rewards if they have two Direct Debits of £2 or more. An additional £1 is received for logging into the mobile app. The Reward account has a monthly fee of £2.

Customers can also benefit from partner offers including money off at a range of retailers. NatWest also offers a Digital Regular Saver which pays 6% interest. Customers can save up to £150 a month in the account and gain up to £59.93 interest in the first year. The Digital Regular Saver does not expire, and so customers can receive even more interest in subsequent years.

Lewis Broadie, Customer Manager at NatWest said: “As well as the upfront cash offer, we offer a wide range of features and benefits, from helping kids with their money through our Rooster offering to our save the change feature, Round Ups.”

Switching bank accounts is simple and can be done through the Current Account Switcher Service. Payments, such as Direct Debits and Standing Orders are automatically transferred to the newly opened account within seven days.