To benefit from the offer, customers need to use the Current Account Switch Service, pay £1,250 into the new account and log into the mobile app within 60 days of switching accounts. This offer could be withdrawn at any time.

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.

Customers can also receive a further £60 back in rewards each year by signing up to the NatWest Reward account. Every month, customers will receive £4 in rewards if they have two Direct Debits of £2 or more. An additional £1 is received for logging into the mobile app. The Reward account has a monthly fee of £2. Customers can also benefit from partner offers including money off at a range of retailers.

NatWest offers a Digital Regular Saver which pays 6.17% AER interest. Customers can save up to £150 a month in the account and gain up to £59.93 interest in the first year. The Digital Regular Saver does not expire, and so customers can receive even more interest in subsequent years.

Paul Slinger, Customer Manager at NatWest said: “Now is the perfect time to switch to NatWest. Customers who make the switch will not only receive £150 cash, but will also enjoy 6.17% AER interest on their regular savings and earn an additional £5 each month through using their new Reward Account.”

NatWest customers can also benefit from the Travel Reward Credit Card which gives 1% back in rewards on travel spend. Rewards can also be exchanged for cash or vouchers.

On top of the £150 switch incentive, benefits of the Reward account, and the opportunity to earn more on savings through a Digital Regular Saver, NatWest supports customers to help their families start growing positive money habits by offering a children’s Rooster Card subscription for free to NatWest customers.

Rooster is a prepaid debit card and pocket money app, and up to three are available for free per family. The card normally costs £1.99 per month or £19.99 per year – this is a savings of £59.97 for three children over a year.