R
Royal Bank of Scotland
£200 Free Cash
Current account£200profit
27mins to complete
Offer overviewChris · Your personal guide
£200 to switch, and it is about as easy as bank switches get: pay in £1,250, then log into the app once. No Direct Debits, no card transactions, no minimum monthly spend.
The catch is the group rule. RBS, NatWest and Ulster Bank are one banking group, and you only ever get one switch bonus across all three. If you have taken free cash from any of them before, you are not eligible here. If you have not, the three offers are identical, so pick the bank you would rather hold.
You also get access to the Digital Regular Saver, paying 5.25% AER on balances up to £5,000 with a £150 monthly cap. Worth opening once the free cash has landed.
Key terms
+£200
Credit checkHard check
Pay-in£1,250
Multiple transfers allowed (e.g. 5 x £250)
Free cash arrives40 days
Eligibility
- Does not qualify:RBS current account as of 6 May 2026
- Does not qualify:Switch from NatWest or Ulster Bank
- Does not qualify:Previous NatWest Group switch bonus
Step by Step Guide
Pre-switch checklist
Optional·1 min check
Before starting a switch, check the existing current account you're switching from:
Plus:
Start here
Apply for an RBS current account
15 mins
- 1Click the button below to apply for an RBS Select or Reward account
- 2During application, request to switch your existing bank using the Current Account Switch Service
The account you switch from must not be with NatWest or Ulster Bank. Your old account is closed as part of the switch.
The switch takes 7 working days. This involves a hard credit check which will show on your credit file.
Up next · 3 steps
Download the RBS app and log in
Switch takes 9 days5 mins
- 1Download the RBS mobile banking app
- 2Log in to your new account
Pay in £1,250
Switch takes 9 days5 mins
- Transfer £1,250 into your new account
The money must stay in the account for at least 24 hours. Funds moved across by the switch count towards the £1,250, and you can split it over several payments.
That's it. No Direct Debits or card transactions required.
Receive £200 free cash
Within 1 month2 mins
- Your £200 will be paid within 30 days of meeting all conditions
Consider opening the Digital Regular Saver for 5.25% AER (up to £5,000, £150 a month)
4 steps to £200
Quick Royal Bank of Scotland Review
Completed the offer? Awesome! Here's our full review on why Royal Bank of Scotland could work well for you going forward.
A clean, low-effort £200. Pay in £1,250, log into the app once, and you are done. No Direct Debits to move, no card spending to remember, no minimum monthly deposit to keep hitting.
The only real decision is which NatWest Group brand you spend your single bonus on. Since NatWest, RBS and Ulster Bank all pay £200 on identical terms right now, pick the one you would rather bank with day to day and take the £200 there.