NatWest is sending customers a quick cash boost of £180 just in time for Christmas.

The high street bank is offering the freebie to anyone who switches into one of its Reward accounts and will issue the cash within just seven days.

At a time of year when household budgets are often stretched with expensive heating bills and presents for Christmas, it’s a chance for those willing to make the switch to add a welcome boost to their festive spending pot.

The £180 offer is available to both new and existing NatWest customers who live in the UK. If you already have an account with Natwest, then you simply need to switch to an eligible Reward account. This includes NatWest Reward, Reward Silver, Reward Platinum, Premier Reward, or Premier Reward black account.

If you’re not already a customer then you need to request and complete a switch of a current account that isn’t with NatWest, RBS or Ulster Bank to your eligible account using the Current Account Switch Service online or via the mobile app.

To qualify, the switch must include closing your current account that is held elsewhere and moving any payment instructions to your eligible account.

Within 60 days of completing the switch, you must:

• Have an eligible NatWest Reward account

• Pay in £1,250 into this account – this can be made of multiple payments and must stay in the account for 24 hours

• Log in to NatWest’s mobile app

Once all of these conditions are met, the bank will then pay the free £180 into your account within seven days.

NatWest says it won’t pay the money if the eligible account is closed or converted to a non-eligible account before the payment is made, even if all of the above requirements have been met.

Customers should also note that if you’ve already received a cash switch incentive from the NatWest Group before then you won’t qualify for the £180 reward.

If that’s the case then several other banks and building societies have available similar cash offers to try and lure in customers, with many offering the free reward in time for Christmas.

Lloyds, Santander, Co-op and Nationwide currently have switching offers up for grabs right now with bonuses of between £75 and £200.