Royal Bank of Scotland Reward Account
Current account
Paid Fee
£200
switching bonus
Penny's take
Decent bonus for a low monthly cost. Royal Bank of Scotland's £200 switch incentive is straightforward to unlock — deposit £1,250 and log into the mobile app within 60 days — making it accessible for most switchers. At just £2 a month, the fee barely dents the reward, and the account suits anyone wanting a simple cash boost without complex hoops.
The biggest catch is the NatWest Group exclusion: if you've ever taken a cash incentive from NatWest, Ulster Bank or RBS itself, you're ineligible. With no listed account benefits to offset the ongoing fee long-term, this is best treated as a one-time bonus play rather than a permanent banking home.
Requirements at a glance
Deposit requirement
£1,250
Monthly fee
£2
Online Banking
Required
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 Offer may be changed, replaced, or withdrawn at any time.
Account Benefits
Reward account can earn up to £5 a month back in Rewards when its account conditions are met.
£200 is paid into the eligible account within 30 days after the conditions are met.