Royal Bank of Scotland account holders could receive £200 paid directly into their account by completing a simple bank switch. However, the offer is not available to everyone and comes with specific eligibility requirements.
How to Get the £200
According to RBS, customers need to follow three straightforward steps to claim the money. First, open a Select or Reward current account and request a full switch from another bank using the Current Account Switch Service. The service will move everything from the old account to RBS in seven working days, including funds and Direct Debits.
Second, within 60 days of switching, the customer must pay in £1,250. This can be made of multiple payments and must remain in the account for 24 hours. Additionally, they need to log in to the RBS mobile app on any device that supports it.
Third, once these conditions are met, RBS will pay £200 into the eligible account within 30 days. The bank confirmed: "This offer is available to new and existing customers who did not hold a Royal Bank current account on May 6, 2026."
Eligibility and Terms
The offer is subject to terms and conditions. The bank notes that the offer can be changed, replaced, or withdrawn at any time. However, if the offer is withdrawn after a customer has applied to switch, they will still be eligible for the payment provided they meet the conditions. Importantly, customers are not eligible if they have ever received cash from an RBS, NatWest, or Ulster Bank switch offer before.
The announcement comes after the UK Government sold its remaining shares in NatWest Group (formerly Royal Bank of Scotland) on May 30, 2025, ending public ownership that began during the financial crisis.
