Royal Bank’s Select account has no monthly fee and has the benefit of GetCash which enables customers to withdraw money from a cash machine without their bank card using a passcode sent to their mobile phone.

New to Royal Bank customers can apply to switch to a Select or Reward account as can existing customers who can also apply to switch to Reward Silver, Reward Platinum or Reward Black.

The Reward account gives customers £4 per month if they have two Direct Debits and an additional £1 for logging onto online banking. In the first year of switching, a customer who meets the requirements will be at least £136 better off, once the £2 monthly charge has been deducted. Customers can also benefit from regular retailer cashback offers.

Switchers are required to use the Current Account Switch Service, close their existing account and transfer their main current account to Royal Bank. Customers must pay in £1500 to the account and log into online or mobile banking through the Royal Bank of Scotland mobile app before 30 December 2020 and will then receive £100 by 29 January 2021.

Customers must be 18 or over and must have not received a cash offer from Royal Bank for opening a new current account and switching after October 2017.

The limited time offer runs until November 19 but could end earlier.

Bruno Genovese, head of RBS current accounts, said: “We are welcoming new customers with our latest switcher offer so they too can benefit from our award-winning mobile app which now even lets you check your credit score.”

Switching bank accounts is simple and can be done through the Current Account Switch Service. Payments, such as Direct Debits and Standing Orders are automatically transferred to the newly opened account within seven days.

An account can be opened online or in any branch.