Premier Select Account
Switching bonus from Royal Bank of Scotland
Bonus
£500
Penny's take
Generous bonus, but the Premier bar is very high. At £500 with no monthly fee, this looks like outstanding value on paper — but the Premier eligibility criteria are the real obstacle, requiring either £100,000 annual income paid into RBS, £100,000 in savings or investments, or a £500,000 RBS mortgage. Most switchers simply won't qualify.
For those who do meet the Premier threshold, the £15,000 deposit requirement within 90 days is a further hurdle, and the NatWest Group exclusion rules out a large pool of potential applicants. Wealthy customers already banking elsewhere are the clear target here.
Requirements at a glance
Deposit requirement
Direct Debits
Transactions
Monthly fee
Online Banking
How to qualify
Requirements
- •Apply for a Premier Select account and request and complete a full switch from another bank using the Current Account Switch Service (CASS).
- •Within 90 days of switching, pay in £15,000 — this can be multiple payments and each must remain in the account for 24 hours.
- •Within 90 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 02 September 2026.
- Premier eligibility applies: £100,000 sole income (£120,000 joint) paid into your Royal Bank account, £100,000 savings or investments held with RBS, or a £500,000 RBS mortgage.
- Not eligible if you or anyone on the account has previously received a NatWest Group cash switch incentive.
- Not eligible if switching 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.
- Offer may be changed, replaced or withdrawn at any time.
Account Benefits
No monthly fee
Keep the account open without paying a monthly account charge.