First Direct vs NatWest: Switch Bonus Comparison
NatWest offers the better net value at £250 vs £175 after fees.
- Full CASS switch with 2+ direct debits/standing orders
- Deposit £1,000 within 45 days
- 5 debit card transactions within 45 days
- Register for digital banking
- New customers only (never previously held First Direct account)
- Open a Select or Reward account and complete a full CASS switch
- Pay in £1,250+ within 60 days (can be split; must stay 24 hours)
- Log in to the NatWest mobile app
- No NatWest current account held on 6 May 2026
- No previous NatWest Group switch bonus
- Can't switch from an RBS or Ulster Bank account
- 7% AER Regular Saver (up to £300/month)
- £250 interest-free overdraft buffer
- Fee-free debit card spending abroad
- Top-rated customer service
- £200 paid within 30 days
- Reward account: up to £36/yr rewards (£2/mo fee)
Verdict: First Direct vs NatWest
NatWest offers the higher switch bonus at £250 vs £175.
First Direct has fewer requirements (5 vs 6), making it simpler to qualify.
First Direct comes with more perks (4 vs 2), including things like 7% aer regular saver (up to £300/month).
Frequently Asked Questions
Which has the higher switch bonus, First Direct or NatWest?
NatWest currently offers the higher bonus at £250, compared to £175 from the other bank.
Can I switch to both First Direct and NatWest?
Yes, you can switch to both banks, but you need to do them one at a time using the Current Account Switch Service (CASS). Complete one switch, wait out the cooling-off period, then switch again to the second bank.
How long is the cooling-off period for First Direct and NatWest?
The cooling-off periods are: First Direct: 12 months, NatWest: 36 months. During this time you cannot switch away without potentially losing your bonus.
Which bank is easier to switch to, First Direct or NatWest?
Both banks use the Current Account Switch Service (CASS), which makes the process straightforward. The main differences are in specific requirements like minimum pay-in amounts, number of direct debits, and whether you need to use their app. Check the requirements comparison above for full details.