Royal Bank of Scotland (RBS) customers may be eligible to receive a £200 payment directly into their bank account by completing three straightforward steps, with funds expected to be issued within 30 days of meeting the conditions. The offer, announced ahead of the summer holidays, aims to provide extra spending money or help cover holiday costs.
How to Get £200 Paid Into Your Bank Account
To qualify, customers must open a Select or Reward current account and request a full switch from another bank using the Current Account Switch Service. According to RBS, the Current Account Switch Service will move everything from the old account to the new one in seven working days, closing the old account and transferring funds and Direct Debits.
Step-by-Step Requirements
- Open a Select or Reward account and complete a full switch using the Current Account Switch Service.
- Within 60 days of switching, pay in £1,250 (this can be made of multiple payments) and ensure the amount remains in the account for 24 hours.
- Log in to the RBS mobile app on any supported device.
Once these conditions are met, RBS will pay £200 into the eligible account within 30 days.
Who Can Get £200?
The offer is available to new and existing customers who did not hold a Royal Bank current account on May 6, 2026. However, customers who have ever received cash from an RBS, NatWest, or Ulster Bank switch offer before are not eligible.
Terms and Conditions
RBS notes that the offer can be changed, replaced, or withdrawn at any time. If withdrawn after a customer has applied to switch, the payment will still be issued provided eligibility requirements are met. The bank also advises reading the full terms and conditions on its website.
This offer comes after the UK Government sold its remaining shares in NatWest Group (formerly RBS) on May 30, 2025, ending public ownership that began during the 2008 financial crisis.
