NatWest offers £175 switching bonus

NATWEST is offering new and existing customers a £175 sign-up sweetener if they switch current accounts before November 3.

To receive the perk, customers must pay £1,250 into the account and log into the firm’s online or mobile banking app before December 15.

You can choose between the bank’s Select or Reward account. The former has no monthly fee and provides a Get Cash function, which allows customers who forget their bank card to withdraw money from an ATM by entering a code sent to their mobile app.

The Reward account has a £2 monthly charge. In return, customers can earn £4 per month if they have two direct debits, and an additional £1 if they use online banking. In total, this works out at an extra £36 a year. You can also benefit from cashback offers with retail partners.

In addition, NatWest has increased the interest rate on its digital regular saver account — which is only available to current account customers — from 3.75 pc to 5 pc.

Elsewhere, First Direct and Santander are also offering a £175 switching bonus, or you can get up to £125 with Nationwide.