UK bank to give customers £200 if they make one change | Personal Finance | Finance

A high street banking chain is offering its customers £200 if they make a small change to their account.

NatWest has announced it will give the money to customers who switch their existing bank accounts to its Reward account. They must also pay in a minimum of £1,250 within 60 days of opening the account to be eligible for the £200, reports the ECHO.

You can apply online or via the NatWest mobile app to switch your account. Should a customer meet the criteria, the cash will land in your account within seven days.

Customers need to be aged 18 or over and a UK resident. And if they have previously received a “switching incentive” from the NatWest Group, you will not be eligible for the offer.

The account comes with a £2 monthly fee, but customers can also earn Rewards – hence the name – when they shop at NatWest’s partner retailers. These include Argos, Morrisons and Caffe Nero.

Should a customer apply to make the switch, NatWest will send a request to your current bank to confirm. Then, their old account will be closed and their balance and any regular payments, such as Direct Debits, will be moved to the new NatWest account.