New RBS customers can apply to switch to a Select or Reward account. In addition to Select or Reward accounts, existing customers can also switch to Reward Silver, Reward Platinum or Reward Black accounts.

RBS has claimed that it is now even easier to save with an RBS current account following the bank’s launch of Round Ups. A new feature that can be activated using the bank’s mobile app. Every time you spend on your debit card it is rounded up to the nearest pound and the change is put into your savings account. On average customers could have an extra £120 in savings over a year.

The Reward account gives customers £4 per month for two Direct Debits and an additional £1 for logging onto online banking. With a monthly fee of £2, this equates to an additional £36 per year for customers. Customers can also benefit from regular retailer cashback offers.

RBS’s Select account has no monthly fee and is rated five stars, the highest rating possible from Defaqto.

Allan Hardie, Royal Bank of Scotland, said: “We are welcoming new customers with our latest incentive so they too can benefit from our award-winning mobile app and Digital Regular Saver account paying 3% interest which is now even easier to save into using our Round Ups feature.”

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 by downloading the Royal Bank mobile app. Anyone switching to Royal Bank will also be able to take advantage of their new Digital Regular Saver account paying 3% which is designed to help customers with little or no savings develop a savings habit and build financial capability.

The offer ends on 21 April at 5pm.