Several banks offer financial incentives, commonly known as switching bonuses or cashback, to customers who open a new account with them and transfer their existing banking services. These offers are designed to encourage new customers to switch their primary current account.
As of recent offers, Ulster Bank, NatWest, and Royal Bank of Scotland are among the banks that provide a £200 cashback incentive when you switch your current account to them.
Banks Offering Cashback for Switching Accounts
Switching current accounts can be a straightforward process, often facilitated by the Current Account Switch Service (CASS), which ensures a smooth transfer of direct debits, standing orders, and salary payments. The incentive is typically paid out once certain criteria are met, such as funding the account with a minimum amount or maintaining direct debits.
The following table details the specific offers from these banks:
| Provider | Product | Cashback Incentive to Switch Account |
|---|---|---|
| Ulster Bank | Select Account | £200 |
| NatWest | Reward | £200 |
| Royal Bank of Scotland | Reward | £200 |
| NatWest | Reward Silver* | £200 |
Please note that terms and conditions apply to these offers, and they are subject to change. It's always advisable to check the latest details directly with the bank before initiating a switch.
These incentives make switching banks an attractive option for consumers looking to get a financial boost while moving to a new banking provider.
