U
Ulster Bank
£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. Ulster Bank, NatWest and RBS 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.
Ulster Bank is a Northern Ireland brand, but the offer terms only ask that you are a UK resident, so it is open wherever you live. Note there is no regular saver here, unlike at NatWest and RBS.
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:Ulster Bank current account as of 26 May 2026
- Does not qualify:Switch from NatWest or RBS
- 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 Ulster Bank current account
15 mins
- 1Click the button below to apply for an Ulster Bank Select 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 RBS. 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 Ulster Bank app and log in
Switch takes 9 days5 mins
- 1Download the Ulster Bank 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
4 steps to £200
Quick Ulster Bank Review
Completed the offer? Awesome! Here's our full review on why Ulster Bank could work well for you going forward.
The same £200 as NatWest and RBS, on the same terms, from the same group. Pay in £1,250, log into the app, done.
The honest position is that Ulster Bank is the one to pick if you are in Northern Ireland and want the branches, or if you simply prefer the brand. If you are elsewhere in the UK, NatWest and RBS give you the same money plus access to a 5.25% regular saver, so there is little reason to spend your single group bonus here instead.
