RBS announces £150 bank account switching incentive

28 Aug, 2019

27 Aug 2019 Royal Bank of Scotland is offering £150 to new and existing customers switching their main bank account. The limited time offer launches on 27 August 2019 and will run until 29th November 2019.

The Royal Bank of Scotland’s Select account has no monthly fee and also has the benefit of GetCash which enables customers to withdraw money from a cash machine without their bank card using a passcode sent to their mobile phone.

Royal Bank of Scotland Reward, Reward Silver, Platinum and Black accounts are also eligible for the offer.

Bruno Genovese, Head of Royal Bank Current Accounts, said: “We are seeing more and more consumers taking advantage of our account benefits and our switcher offer gives consumers the opportunity to change accounts simply and easily using the Switcher Service.”

Switching bank accounts is simple and can be done through the Current Account Switch Service. Payments, such as Direct Debits and Standing Orders are automatically transferred to the newly opened account within seven days.

An account can be opened online at  www.rbs.co.uk or in any Royal Bank branch.

Switchers are required to use the Current Account Switch Service, close their existing account and transfer their main current account to Royal Bank of Scotland. Customers will then receive £150 by 7 February 2020.

It is simple to obtain the switcher offer. Customers must pay in £1500 to the account and log into online or mobile banking through the Royal Bank mobile app before 10 January 2019. Customers must be 18 or over and must not have received a cash offer from Royal Bank for opening a new current account and switching after October 2017.