Check if you could qualify here
UK residents could pocket a free £200 simply by changing their bank account. Three of Britain's major banks are currently offering cash incentives to those who make the switch.
It's fairly common practice for banks to dangle switching bonuses as a way of drawing in new customers. You'll just need to make sure you meet all the necessary criteria. To help people bag the best deal on offer, the team at Money Saving Expert have compiled a list of the latest available offers. At present, First Direct, NatWest, and Barclays are all putting forward £200 for switching.
Read on below for more information, including eligibility requirements. First Direct By switching to First Direct’s 1st Account you could get £200. Along with this you will also have access to a seven per cent saver, fee-free overseas spending and £250 0per cent overdraft for many. MSE said: “A clear winner if you want top customer service, or if you need an interest-free overdraft.
” On top of the £200 switch bonus, the First Direct 1st Account includes: To get £200 bonus you need to open an account via the app . And within 45 days you must: The £200 should be paid by the 20th of the following month. NatWest By switching to the NatWest Reward account you can get a free £200 upfront, plus £36 a year cashback and 5.25 per cent interest linked regular saver.
MSE said: “A decent option with ongoing cashback and a strong regular saver. ” The NatWest Reward pays £5 cashback each month you pay in £1,250 or more, pay out two or more direct debits of £2 or more and use its mobile app. Factoring in the £2 a month fee, that's a net gain of £36 a year.
To get the £200 bonus you need to open an account and complete a switch from a non-NatWest, RBS or Ulster Bank account online or via mobile app. Then, within 60 days, you must: The £200 should be paid within 30 days. Barclays By switching to a Barclays bank account you can get a free £200 plus five per cent cashback on fuel and optional half-price Apple TV.
“A strong choice if you want a simple account that pays a big cash bonus, or if you usually buy fuel at Tesco,” MSE said. It added: “To get the £200 bonus for switching to the Barclays Bank Account you'll need to apply and start a switch by 27 August.
But if you do it sooner, till 31 July, you can get five per cent cashback when you buy £5 or more of petrol or diesel at a Tesco forecourt using the debit card . Excludes Esso stations linked to Tesco stores.
“The account comes with few perks, though for an optional £5 a month fee you can join its Blue Rewards scheme to get Apple TV at half its usual cost . If you go for this you'll also need to pay in £800 or more a month and register for digital banking. ” How to get £200 bonus: The £200 should be paid within 28 working days.
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