Am I eligible for an extra £500 on top of the cash offers available to me as part of Business Banking Switch?
Customers who are eligible for the £500 Bonus on top of their selected offer should have received a letter or email from us to let them know.
To qualify for the £500 Bonus you must:
a. Be eligible for Business Banking Switch;
b. Have a turnover below £100,000*;
c. submit an application for a new business current account with your chosen bank (offering the £500 Bonus within its terms & conditions) by 31st January 2020; and close your eligible Royal Bank of Scotland / NatWest business current account between 25th November 2019 and 29th February 2020, transferring your payments, standing orders and direct debits.
* Turnover is based on 12 months credit transactions going through a business current account over a 12 month period up to 31st October 2018.
This is calculated by taking the annual aggregate credit turnover within your business current accounts, excluding:
- Any turnover between those accounts of a customer;
- any monies held by a customer on behalf of that customer's clients or for the benefit of third parties; and
- non sterling accounts.