NatWest and the Royal Bank of Scotland say the money will be transferred to bank accounts within 30 days once the conditions are met
NatWest and the Royal Bank of Scotland are offering to pay customers £200 in cash if they follow a 60-day rule.
From Wednesday, May 6, any customers who switch their current account to an eligible NatWest or Royal Bank of Scotland (RBS) one wcan be paid a cash bonus of £200. This is a £50 hike on the £150 cash reward these banks were offering earlier in 2026 and according to Moneyfactscompare it is “now one of the most generous incentives on the market” for standard accounts.
It advises: “To receive the £200, customers need to switch to the Select Account or Reward Account from either NatWest or RBS using the Current Account Switch Service (CASS).
“Once open, they need to pay in £1,250 across one or more payments (which must remain in the account for at least 24 hours) and log in to the bank’s mobile app. These conditions must be met within 60 days of switching. NatWest or RBS will then pay the £200 into your account within 30 days of meeting the requirements.”
However it warns that any customer who has previously benefited from a cash switcher offer from NatWest, RBS or Ulster Bank won’t be eligible for this latest bonus. It adds: “The banks don’t specify an end date to this switching offer, so customers shouldn’t delay if they want to take advantage of this free cash boost.”
Rachel Springall, Finance Expert at Moneyfactscompare.co.uk, said that “switching cash offers do not always stick around for too long”. However, she added: “Consumers must not feel pressured to switch if they have not carefully compared the different packages out there”.
On its website NatWest sets out what people need to do to get the money. It advised: “This offer is available to new and existing customers who did not hold a NatWest current account on 06 May 2026.”
It says to get the money people need to open a current account and switch to them then apply for a Select or Reward account and request and complete a full switch to us from another bank using the Current Account Switch Service. Then within 60 days of switching they must
- Pay in £1,250 – this can be made of multiple payments and must remain in the account for 24 hours
- Log in to their mobile app which can be done on any device that supports the NatWest mobile banking app.
It adds: “When you’ve met these conditions, we’ll pay £200 into your eligible account within 30 days.”
Meanwhile Barclays Bank is also running a £200 switch offer, says Moneyfactscompare. The independent financial expert said: “Customers need to apply by 28 May 2026 to qualify. To receive the bonus, they need to open the account via mobile app, switch using the Current Account Switch Service (including at least two direct debits) and pay in £2,000 or more within 30 days of opening.
