business banking switch

business banking switch

Author
Discussion

m3jappa

Original Poster:

6,421 posts

218 months

Tuesday 20th October 2020
quotequote all
I have received a few letters and phone calls from natwest (who i have a business account with) trying to urge me to switch to another bank.

Apparently if i switch to someone like co-op for example i receive 4k.

Wtf? I am confused and it does sound too good to be true. But surely this is legitimate?

Has anyone else switched and received a few grand for nothing? or is it a massive headache and they send me £150 in blockbuster video vouchers hehe

Natwest has been absolutely fine in terms of service, not that i have needed much but i cant complain so i wouldn't switch to someone else unless i was being paid, which they say they will hehe


Simpo Two

85,390 posts

265 months

Tuesday 20th October 2020
quotequote all
Who pays the £4K - NatWest to get rid of you, or Co-Op to win your business?

MOBB

3,607 posts

127 months

Tuesday 20th October 2020
quotequote all
I did this earlier this year

NatWest to Clydesdale, here’s £1,600 for nothing

Thanks very much, and I actually prefer Clydesdale :-)

m3jappa

Original Poster:

6,421 posts

218 months

Tuesday 20th October 2020
quotequote all
JPJPJP said:
thanks, i did have a quick browse but didn't see that. i have posted on that thread as well now hehe

m3jappa

Original Poster:

6,421 posts

218 months

Tuesday 20th October 2020
quotequote all
Simpo Two said:
Who pays the £4K - NatWest to get rid of you, or Co-Op to win your business?
appears to be co op who pay, but it does say words to the effect of 'if they have sufficient funds'

VEX

5,256 posts

246 months

Tuesday 20th October 2020
quotequote all
Did this 18months ago almost painless.

Got 3k for the move and then a supprise additional 1k over the summer.

Only issue i had was when the move happened, that was it account was closed at Natwest and i could not get access to it for bank rec's or vat return. And no one at Natwest could see an issue with that.

Do it.

MOBB

3,607 posts

127 months

Tuesday 20th October 2020
quotequote all
Oh yes I had the same with accessing old bank statements

If you do it, download everything before it gets switched off

Simpo Two

85,390 posts

265 months

Tuesday 20th October 2020
quotequote all
So really this is just a bigged-up version of bank personal current accounts offering you £100 to move to them.

So they want your money for something... but if they're not paying it in interest and they're not lending it... scratchchin