Royal Bank of Scotland Offers £200 Switching Bonus for Select and Reward Accounts

Royal Bank of Scotland is offering a £200 cash bonus to customers who open either a Select or Reward account and complete a full switch using the Current Account Switch Service. The payment is made within 30 days once all qualifying conditions are met. GB News reported the incentive scheme.

Customers must apply for the account and request the switch through the Current Account Switch Service. The service transfers balances, Direct Debits and standing orders within seven working days and closes the previous account automatically. After the switch, customers have 60 days to pay at least £1,250 into the new account, with the funds required to remain in the account for at least 24 hours, and to log in to the Royal Bank mobile app.

The offer is available to both new and existing customers who did not hold a Royal Bank current account on May 6, 2026. Customers who already benefited from a NatWest Group switching incentive are ineligible. Existing NatWest or Ulster Bank current account holders cannot switch between NatWest Group brands for this offer.

Royal Bank of Scotland is part of NatWest Group. The UK Government sold its remaining shares in NatWest Group on May 30, 2025. More than 50 banks and building societies participate in the Current Account Switch Service, and customers are advised to confirm their existing provider is a member before applying.

The bank noted that it may amend, replace or withdraw the offer at any time, but applications submitted before any withdrawal will still be honoured if eligibility criteria are met. Monthly account fees may apply depending on the account selected.