NatWest and the Royal Bank of Scotland (RBS) have increased their cash switching incentive to £200, up from the previous £150 offer earlier in 2026. The banks will transfer the bonus within 30 days of customers meeting specific conditions, including a 60-day rule.
How to Qualify for the £200 Bonus
From Wednesday, May 6, customers who switch their current account to an eligible NatWest or RBS account using the Current Account Switch Service (CASS) can receive the £200 cash reward. According to Moneyfactscompare, this is now one of the most generous incentives on the market for standard accounts.
To qualify, customers must open a Select Account or Reward Account from either NatWest or RBS. Within 60 days of switching, 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. Once these conditions are met, the £200 will be paid within 30 days.
Eligibility and Exclusions
The offer is available to new and existing customers who did not hold a NatWest current account on May 6, 2026. However, anyone who has previously benefited from a cash switcher offer from NatWest, RBS, or Ulster Bank is not eligible for this bonus. The banks have not specified an end date for the offer, but Moneyfactscompare advises customers not to delay if they wish to take advantage.
Rachel Springall, Finance Expert at Moneyfactscompare.co.uk, noted that switching cash offers do not always last long. She cautioned consumers not to feel pressured to switch without carefully comparing different packages.
Barclays Also Offers £200 Switch Bonus
Meanwhile, Barclays Bank is running a similar £200 switch offer. Customers must apply by May 28, 2026, open the account via the mobile app, switch using CASS with at least two direct debits, and pay in £2,000 or more within 30 days of opening.
