RBS bank switch offer: get £200

Another bank switch deal has launched, and you can get more on top

RBS is offering £200 if you switch banks. Then you could get another £36 via linked rewards and interest.

Here’s how the offer works and my analysis.

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How much can you get for switching to RBS?

This RBS switch offer is pretty straightforward. You’ll get a fixed £200 if you meet the conditions outlined below.

You can only get one bonus per person, regardless of whether you have more than one solo or any extra joint accounts. You’ll also only get one payment per joint account, so if two of you want the cash, you’re better off opening two new individual accounts.

Once you have the account, you’ll also be able to apply for the Digital Regular Saver, which pays 5.25% on up to £5,000, and you can add up to £150 a month.

Who can get the RBS switch offer?

It’s another deal where new and existing customers can get the free cash. New and existing customers will need to open one of the following accounts:

• Select
• Foundation
• Reward

You cannot take advantage if you had an RBS current account on 6 May 2026.

Then you need to use the Current Account Switching Service to move over an account from a different bank.

What if you’ve previously had switching cash from Natwest group banks?

You won’t get the money if they’ve had any cash at any time from switching to any bank in the Natwest Group, which consists of RBS, Ulster Bank or Natwest.

It’s worth noting that in 2023 many readers reported in our Facebook group that they were able to get an offer from each bank in the group, despite the terms saying it wasn’t possible.

What are the requirements for the RBS switch offer?

To get the £200 you need to:

• Open one of the accounts listed above after 6 May 2026
• Start a full switch via the Current Account Switch Service via the RBS website or app
• Switch from a non-Natwest group bank
• Pay in £1,250 within 60 days of switching the account
• Log in to mobile app banking within 60 days of switching the account
• Keep the account open until you’ve had the switching cash

That £1,250 deposit doesn’t need to be in one go, so you can add money across the qualifying period. It can even be the same smaller amount added and then withdrawn so you can add it again. However, each single deposit (rather than the total £1,250) needs to be in the account for 24 hours.

Note, the wording suggests that the 60 days begins when the switch completes.

You won’t be eligible if you start the switch in a branch or over the phone. Upgrades to one of the eligible accounts won’t count either – it needs to be an existing account or a new one.

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When will the money be paid?

The full £200 will be paid to your account within 30 calendar days of meeting the above criteria.

When will the offer end?

There’s no set end date for this promotion, so it could end at any time. I’ll update this article if a date is announced. Last time it ran for a couple of months.

Which RBS account should I choose?

So, you’ve got a few accounts to choose from. Let’s ignore the Premier Reward accounts as they’re really only worth considering if you have a high income, and with some if you need travel insurance and breakdown cover. And there are probably better options out there for the latter types of accounts.

That leaves either the Select or Reward account. The Select account is free to use and a good choice if you just want to get the bonus.

However, if you’ve got a couple of spare Direct Debits, adding them to the Reward account will earn you £4 a month. You’ll get another £1 for using your RBS app each month. Deduct the £2 a month fee and you’ll earn £3 a month, or £36 a year. It’s not the highest-paying account out there, but worth nabbing if you are going to stick with RBS.

Benefits	£5 monthly reward, made up of:
	– £4 for having two Direct Debits
	– £1 for opening the mobile app each month
	Limited cashback with retailers via debit card
Interest	Access to 5.25% (variable) AER Digital Monthly Saver (max £150 a month) Read more
Fee	£2 a month
Requirements	Two active Direct Debits of at least £2 each
	Open the app once per month
Multiple accounts?	Yes, but you can only claim Rewards once per person
Notes	You need to withdraw your rewards to use them

Is it worth switching to RBS?

Are there better switching offers?

If you’re a repeat bank switcher then you might only be able to pick one or two options, but for complete newbies, you’ve got a few choices.

Here’s everything you need to know about all these different bank switching deals.

The best bank switch bonuses

Check out our list of all the bank switch offers you can get when opening a new current account