Does this mean that those with a NatWest/RBS account are going to be able to switch to a Monzo business account in the very near future then? Previous correspondence I’ve had with NatWest about this have said they hope to be starting to move people to the new options by about April/May this year?
I’ve actually since left NatWest because their service was so absolutely terrible, would be a bit gutted if it meant that I’d have to wait longer to switch to Monzo for my business banking than if I’d hung on (however painfully) for a few more months.
• Arbuthnot Latham & Co Ltd, Clydesdale Bank plc, Co-operative Bank plc, Hampden & Co., Handelsbanken plc, Metro Bank plc, Santander UK plc, Starling Bank Ltd, TSB Bank plc ready for 25th February
• Monzo bank plc, Nationwide Building Society expected to join later in 2019
Hey everyone! A few months ago we wrote a blog post on business banking where we talked about applying for some funding from the Alternative Remedies Package.
We mentioned that we were applying for both the Incentivised Switching Scheme and the Capability and Innovation Fund. Since then, we were selected to participate in the Incentivised Switching Scheme (still working on our application for the Capability and Innovation Fund)! Being selected for the ISS means that once Monzo business accounts are live, eligible RBS SME customers will be able to switch to Monzo and receive a switching bonus.
Until we are live with business accounts and have passed the operational readiness components of the Incentivised Switching Scheme, users won’t be available to switch to us through the scheme.
Do Monzo receive a bonus as well for each RBS SME account that switches to them? What’s the bonus that’s offered to account switchers & I’m assuming it’s paid by the ISS, not you.
A few months ago we wrote a 
we reached out to BCR to update