NatWest Switching Bonus

I’m frustrated that NatWest is now offering for my business £4000 for switching to Starling… to encourage completion in the business banking space why is Monzo not an option… I have already moved my business banking to Monzo but I would love free money to complete the switch

Starling is free banking for business and Monzo charge you. Objectively speaking why wouldn’t you want to move to Starling

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Monzo offer free business banking…

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Monzo have free business banking too.

But I don’t understand OP. NatWest are offering you money to move to Starling? But you’re annoyed at Monzo?

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I’m not annoyed at Monzo I am annoyed Monzo is not a choice I believe NatWest are paying the £4000 not Starling

NatWest Group are required by law to encourage business customers to move to other banks and the scheme is operated by a separate company - BCR. Monzo aren’t part of the incentivised switching scheme - https://bcr-ltd.com/iss/

As of March 2020 Monzo were still eligible to participate in the scheme however had not signed any agreement on it - https://bcr-ltd.com/wp-content/uploads/2020/03/20200303-ISS-Dowry-Update.pdf

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That’s a shame it seems like a missed opportunity

What is the point of your post?

It feels like you just want to tell us you’re so brand-loyal to Monzo that you’re turning down £4k free money? This might seem a little insensitive to those struggling in the current climate.

Monzo have pretty much missed the ARP boat. Just take the money with Starling or one of the other banks who are offering you a switch incentive, then continue to do your actual banking with Monzo if you really can’t countenance using a different bank.

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