+£150
Current account27 mins
NatWestCurrent account
£150 Free Cash•27 mins
£150 Free Cash
+£150What is NatWest?
NatWest is one of the UK's biggest high street banks, part of NatWest Group (which also owns RBS). They serve millions of personal and business customers across the UK.
You can only do one of these offers. For simplicity, this guide is written assuming you sign up to NatWest. If you'd prefer RBS, the process is identical — just head to rbs.co.uk/current-accounts instead.
Launched
1968
Customers
20m+
Google Play
4.7 (488k)
★★★★★★
Key Terms
Profit
+£150
Credit checkHard check
Pay-in£1,250
Free cash£150
Free cash arrives40 days
Eligibility: No NatWest current or savings account as of 17 Feb 2026. Can’t switch from RBS or Ulster Bank NI. No previous NatWest Group switch bonus.
Step by Step Guide
Chris's overview
Optional·1 min read
NatWest and RBS (same banking group) are both offering £150 to switch — the terms are identical. Pay in £1,250, download the app and log in, and your £150 arrives within 30 days. No direct debits or card transactions needed, which makes this one of the more straightforward bank switches.
You'll also get access to a Digital Regular Saver paying 7% AER for 12 months (up to £5,000).
Pre-switch checklist
Optional·1 min check
Before starting a switch, check the existing current account you're switching from:
Plus:
1
Apply for a NatWest current account
15 mins
- Click the button below to apply for a NatWest Select or Reward account
- Prefer RBS? Apply directly at rbs.co.uk/current-accounts instead
- During application, request to switch your existing bank
2
Download the NatWest app and log in9d
5 mins
- Download the NatWest (or RBS) mobile app
- Log in to your new account
3
Pay in £1,2509d
5 mins
- Transfer £1,250 into your new account
- The money must stay in the account for at least 24 hours
That’s it — no direct debits or card transactions required.
4
Receive £150 free cash+30d
2 mins
- Your £150 will be paid within 30 days of meeting all conditions
- Consider opening the Digital Regular Saver for 7% AER (12 months, up to £5,000)
Offer Complete
Done? Tick off each step above to see your total.
NatWest Full Review
Completed the offer? Awesome! Here's our full review on why NatWest could work well for you going forward.
NatWest is one of the UK's largest high street banks, formed in 1968 from the merger of National Provincial Bank, Westminster Bank, and District Bank. Now the flagship brand of NatWest Group (which also owns RBS and Ulster Bank), they serve over 20 million customers across the UK. With around 520 branches, a highly rated mobile app, and both free and paid current account options, NatWest offers traditional banking with strong digital capabilities.
Is NatWest safe?
NatWest (National Westminster Bank Plc) is authorised by the Prudential Regulation Authority and regulated by both the FCA and PRA (FRN 121878). Your deposits are protected by the FSCS up to £120,000 per person. NatWest Group is one of the UK's largest banking groups with over 55 years of continuous operation. Note: NatWest and Ulster Bank share a banking licence, so FSCS cover is shared between them — RBS has a separate licence.
Who is NatWest for?
NatWest suits people who want the reassurance of a big high street bank with solid digital tools. With around 520 branches and a 4.8-rated app, you get the best of both worlds: in-branch support when you need it, and a capable app for day-to-day banking. The fee-free Select account works for anyone who just wants a straightforward current account, while the Reward account (£2/month) suits people who can earn back more than they pay through its cashback scheme.
Top 5 NatWest Features
1
Large Branch Network
Around 520 branches across Great Britain for in-person banking
2
Highly Rated App
4.8 stars on iOS (1M+ ratings), 4.7 on Google Play with face/fingerprint login
3
Digital Regular Saver
7% AER for 12 months when you switch (up to £5,000, £150/month deposits)
4
Fee-Free Select Account
No monthly fee, no minimum pay-in — a straightforward everyday account
5
Reward Account Cashback
Earn up to £5/month back (£4 for direct debits + £1 for app login) for a £2/month fee
Pros and Cons
Pros
- ✓Large branch network for in-person support
- ✓Highly rated mobile app (4.8 iOS, 4.7 Android)
- ✓No-fee Select account with no minimum pay-in
- ✓7% regular saver for switchers (12 months, up to £5,000)
Cons
- ✗Hard credit check required when switching
- ✗No interest paid on current account balances
- ✗Reward account has a £2/month fee
Chris’s Verdict
NatWest is a solid, no-surprises bank switch. The £150 bonus has fewer hoops than most — no direct debits or card transactions required, just pay in £1,250 and log into the app. That makes it one of the more straightforward switches to complete. The 7% Digital Regular Saver is a genuine bonus on top if you want to park some savings. On the downside, there's a hard credit check, and the current accounts don't pay any interest on your balance. But as a switch-and-earn offer, it's clean and simple. If you already have a NatWest account, check if RBS works instead (separate brand, identical offer).
