RBS switch deal: February to April 2024

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RBS launched a £200 switching bonus on 15 February 2024, available for new and existing customers who use the Current Account Switch Service to switch into a Select, Reward or Premier account (monthly fees start at £2 for the Reward and Premier accounts). Our guide explains how easy it is to get this extra money.

For a full list of switching deals on the market, you can visit our switching deals guide.

How much will you get?

You’ll get £200, which is the largest switch bonus available. This is paid within 7 days once you’ve fulfilled the eligibility criteria. More on that below.

If you get either of these accounts, you can also open a Digital Regular Saver, which pays 6.17% AER (variable) on balances up to £5,000. The maximum monthly deposit is £150, meaning you could earn £59.83 in interest in the first year.

If you open the Reward Account, you can get £4 a month back if you have 2 or more direct debits of over £2 each. You can also earn an extra quid each month if you log in to the mobile app, which shouldn’t be too difficult. After the £2 monthly fee, that works out to £3 a month or £36 for the year.

Overall, the switch could be worth a tidy £295.83 after the first year.

Compare RBS accounts

These are all NatWest’s accounts. We’ve labelled the ones where the switch bonus is available.

1 - 2 of 2

Updated daily

Product UKFSA-CUR	Finder Score	Account fees	Funding requirement	Interest (AER)	Arranged overdraft	Incentive	Representative example	Link
Royal Bank of Scotland Select Account	Finder score 7.9Great	£0	No minimum funding requirement	0% AER	39.49% EAR variable (subject to status)		You must be 18+ and a UK resident. Representative Example: Effective Annual Rate: 39.49% EAR (variable). Representative APR: 39.49% APR (variable). Assumed credit limit: £1,200 Subject to status. How does this overdraft compare? Representative APRs help you compare the cost of different credit products.	Go to site View details	loading Fetching your data...
Royal Bank of Scotland Reward Account	Finder score Not yet rated	£2 per month	Min. £1250 Per Month	0% AER	39.49% EAR variable	You must be 18+ and a UK resident. Earn up to £5/month in Rewards (£4 with 2x +£2 direct debits set up, £1 for monthly app log in) and from 1% in Rewards when you spend with selected partners..	Representative Example: Effective Annual Rate: 39.49% EAR (variable). Representative APR: 39.49% APR (variable). Assumed credit limit: £1,200 Subject to status. How does this overdraft compare? Representative APRs help you compare the cost of different credit products.	Go to site View details	loading Fetching your data...

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Finder Score for bank accounts

To make comparing even easier we came up with the Finder Score. Fees, features and customer service across 20+ of the most popular banks are all weighted and scaled to produce a score out of 10. The higher the score the better the account – simple.

Who can get this deal?

This deal is available for new and existing RBS customers. You must be a UK resident and 18 or older to be eligible.

How you can get the £200 switching bonus

To qualify, you must:

• Be a UK resident over 18.
• Have an RBS Select, Reward, Reward Silver, Select Silver, Reward Platinum, Select Platinum, Premier Select, Premier Reward, Black, Premier Reward Black or Foundation account. It can be existing or new.
• Complete a switch of a non-RBS current account to your eligible account using the Current Account Switch Service online or via the RBS mobile app.
• Deposit £1,250 into your eligible account. You can do this in multiple payments.
• Log in to the RBS mobile app within 60 days of switching to your eligible account.

The exclusions

• If you’ve previously received a switcher incentive from RBS, NatWest or Ulster Bank since 1 January 2020, you won’t be eligible. All these banks are part of the NatWest Group.
• If your switch doesn’t fully complete, you won’t receive the incentive. A complete switch means your old bank account closes, and any funds and direct debits move to your new account.
• If your deposit of £1,250 isn’t in your new account for at least 24 hours, you won’t be eligible for the bonus payment, so be patient!
• You can’t apply to switch your non-RBS account in a branch or over the phone. You must use the Current Account Switch Service online or via the mobile app to be eligible for the bonus.
• Joint accounts are only eligible for a single bonus.
• If you open multiple eligible accounts, you’ll get the offer only once.

When the offer ends

The offer will end on Tuesday 2nd April 2024.

Alternative offers

If this offer is not for you, we also have a guide displaying current banking switching deals on the market and also other banking offers such as refer-a-friend offers and more.

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Written by

Jason Loewenthal

Senior writer

Jason is a writer and editor. He worked as a senior subeditor for Finder for 5 years and in that time became familiar with a wide range of financial products and services. Before that, he worked for Australian Associated Press. He has a BA from Macquarie University in Australia. Jason loves to help other people find new ways to save money. See full bio