Reward Account
Switching bonus from Royal Bank of Scotland
Bonus
£200
Penny's take
Decent bonus for a low ongoing cost. The £200 switch incentive is competitive, and at just £2 a month the Reward Account is relatively cheap to hold. The requirements — depositing £1,250 and logging into the app within 60 days — are straightforward for most earners, making this a medium-effort deal with a reasonable return.
The biggest catch is the NatWest Group exclusion: anyone who has previously taken a NatWest, RBS or Ulster Bank switch incentive is locked out, which rules out a meaningful chunk of potential applicants. With no listed account benefits to offset the monthly fee long-term, this is best suited to switchers who are new to the group and happy to reassess the account's value once the bonus lands.
Requirements at a glance
Deposit requirement
Direct Debits
Transactions
Monthly fee
Online Banking
How to qualify
Requirements
- •Apply for a Reward account and request and complete a full switch from another bank using the Current Account Switch Service (CASS).
- •Within 60 days of switching, pay in £1,250. This can be multiple payments and must remain in the account for 24 hours.
- •Within 60 days of switching, log in to the Royal Bank mobile app.
Things to check
- Offer is available to new and existing customers who did not hold a Royal Bank current account on 06 May 2026.
- Not eligible if you or anyone on the account has previously received a NatWest Group cash switch incentive.
- Not eligible if switching an account from NatWest Group, including NatWest or Ulster Bank.
- The old bank must be part of the Current Account Switch Service; manual or partial switches do not qualify.
- Specific account eligibility criteria apply. Monthly account fees may apply. Offer may be changed, replaced, or withdrawn at any time.