Switching from NatWest business account

[FarmerBruce]

Has anyone who banks with NatWest been sent all the information about switching away from them and actually done it. I’ve just looked into it and it seems we could be entitled to a £4K hand out for just leaving NatWest to another business account with another bank. Is this genuine? Seems crazy to me as it’s NatWest who are pushing this!!

 

[5020man]

Hi.
Same here.

 

[upnortheast]

If it sounds to good to be true ,,,.,..,...,

 

[holmes65]

We are in the process of going to Yorkshire bank from Natwest, our accountant has had a couple of other clients who have moved. If the banks are giving money away I am happy to take it.

 

[Qman]

We are in the process of going to Yorkshire bank from Natwest, our accountant has had a couple of other clients who have moved. If the banks are giving money away I am happy to take it.

That is what I did 18 months ago, I left RBS and went to the Yorkshire. They gave me £4K and free banking for 2 years. Seems daft but I'm £4K better off till I spent it.

 

[john432]

Rang the info line,It is legit, Natwest or RBS, had massive government handouts some years ago . Now the government's ombudsman say they have a too high market share advantage, so they have to persuade some of us to change to the lesser well known banks.

 

[Highland Mule]

If it sounds to good to be true ,,,.,..,...,

Normally I’d agree, but the reasons behind it are regulator driven and only a fool would turn the offer down.

 

[milkloss]

OK, so I've had the offer too. Which bank is the best to move to? The natwest app is brilliant apart from not being able to scan cheques and I do all/most of my bill paying using the app after setting payees up on a browser. I am happy with NatWest and will leave my personal account with them, I don't run an overdraft, don't have to supply yearly accounts etc....... recommendations appreciated.

 

[farmerdan7618]

It is very real, but you need to be chosen by NatWest. As others have said, they need to reduce market share and it is cheaper for them to pay a few businesses to leave than split the business like Lloyds Tsb had to.

 

[farmerdan7618]

OK, so I've had the offer too. Which bank is the best to move to? The natwest app is brilliant apart from not being able to scan cheques and I do all/most of my bill paying using the app after setting payees up on a browser. I am happy with NatWest and will leave my personal account with them, I don't run an overdraft, don't have to supply yearly accounts etc....... recommendations appreciated.

If they will have you, never hear a bad word said about Handelsbanken for those in credit.

 

[bobk]

Are Nat West initiating this ?

 

[farmerdan7618]

Are Nat West initiating this ?

They have been forced to, by the UK government.

 

[jd6420s]

It is totally legitimate. I tried to change to Yorkshire Bank but they were totally useless and gave me the runaround. After 4 weeks of trying to get an account set up with them I told them to stuff it. Went with Starling in the end and had a business account set up within the day. Changeover took a week and was really easy. I got the £4000 2 days later. Really happy with them so far but although cheques are easy to pay in I don't have a cheque book to pay anyone else. If it becomes a problem I'll change again. I just wanted to make sure I got the money before the offer ended.

 

[upnortheast]

Any pattern with the invited customers. Heavily borrowed or in credit ?

 

[milkloss]

Oh, and what happens with any bounce back loan you may have alongside your business account?

 

[bobk]

Will they take on my 0.8% mortgage

 

[jd6420s]

I don't have an overdraft or loans but NatWest seemed very keen to get rid of me. Apparently NatWest were going to be changing me to another bank a few years ago but that fell through. Anyone else who were also due to go to that bank are eligible for the current scheme.

 

[Highland Mule]

Will they take on my 0.8% mortgage

Nice rate, but a bit high for me. By some fluke of timing, I’m on 0.17 over BoE base, so 0.27%, which I believe is the lowest life-of-mortgage rate ever offered in the UK.

 

[willie waver]

yeah moved from rbs, 6 offers, best 4500 plus 0.5% interest on positive balance for 2 years

 

[bobk]

Nice rate, but a bit high for me. By some fluke of timing, I’m on 0.17 over BoE base, so 0.27%, which I believe is the lowest life-of-mortgage rate ever offered in the UK.

I'm happy enough , it started at 7.4% .....