NatWest launches £175 current account switch offer

NatWest has just launched a new current account switch offer with a £175 bonus, plus you can get cashback and a linked 5.5% interest savings account. The offer is available to new customers who had not held a NatWest current account until the offer started on 16th September 2025 and who have never previously received a switch bonus from NatWest, RBS or Ulster Bank.

To get the £175, eligible customers must:

• open a NatWest Reward, Premier Reward, Select, or Premier Select account online or via the mobile app
• complete a full current account switch using the Current Account Switch Service (CASS) from a non-NatWest, RBS or Ulster Bank account
• pay in over £1,250 within 60 days
• log in to mobile banking within 60 days

As long as you're eligible and you complete the required steps, you should receive your £175 within 30 days.

Who is eligible for NatWest's £175 current account switch offer?

To be eligible for NatWest's £175 current account switch offer, you must be a UK resident. You will not be eligible if:

• You've received cash via a switch offer from NatWest, RBS or Ulster Bank before
• You had a NatWest current account prior to 16th September 2025
• You convert your new NatWest account into a Foundation or Student/Graduate account (these aren't eligible for the incentive)

If you previously held a NatWest account, you will not be eligible for this offer unless you applied for the account from 16th September 2025. As with most similar offers, you can also only benefit from this offer once. So even if you have multiple accounts that you can switch over, you'd only get the incentive once.

How to get £175 for switching to NatWest

If you're eligible, you'll need to complete the following steps to get the £175 switch offer from NatWest:

• Apply for and open an eligible NatWest account - This can be a NatWest Reward, Premier Reward, Select, or Premier Select account
• Request and complete a full switch via the Current Account Switch Service (CASS) from an eligible current account (can't be a NatWest, RBS, or Ulster Bank account) - You can request the switch in-app or online, and the switch must be full (meaning your old account would be closed)
• Within 60 days of completing your switch, complete the additional steps - You must pay £1,250 into your account and log in to the mobile app from any device which supports the NatWest Mobile Banking App

If you meet all of the above conditions, then the £175 will be paid into your account within 30 days of you completing these steps.

Which NatWest current account should you choose?

To benefit from the offer, you'll need to open a new NatWest current account. Below, we outline the accounts you can select as well as any monthly fees you need to be aware of.

	Select	NatWest Reward	Premier Select	Premier Reward
Monthly fee	£0	From £2	£0	From £2
Cash rewards for using the account	NO	Up to £5 a month	NO	Up to £10 a month
1%+ cashback for shopping with partners	NO	YES	NO	YES
Specific income and savings requirements	Not applicable	Not applicable	£100k+ sole income or £120k joint income or a £500k mortgage with NatWest of £100k+ savings and investments with NatWest	£100k+ sole income or £120k joint income or a £500k mortgage with NatWest of £100k+ savings and investments with NatWest

The Reward accounts come with a minimum monthly fee, but also the opportunity to earn cashback. There are several different tiers of the Reward accounts with different monthly fees depending on what your needs are. Some Reward accounts on offer come with perks like worldwide travel insurance and fee-free spending abroad, for example. The Premier accounts, which have income requirements, also come with additional features not discussed in the table above.

For the purposes of this comparison, we have selected the most basic accounts from each tier to show you how their features and fees differ.

Best current account switch offers in the UK

If the new NatWest offer isn't quite right for you, there are other current account switch offers on the market right now. We regularly update our round-up of the best current account switch offers and incentives in the UK, so we'd recommend you take a look if you're looking to move banks. It might be a good idea to bookmark the link and check it periodically as new offers crop up all the time.