Compare Latest Current Account Deals
Switching current account to NatWest
Why we like it: No minimum monthly funding or monthly fee to maintain the account. Earn up to 15% cashback with Retailer Offers. Stress-free account switching in 7 days with the Current Account Switch Service. £300 ATM withdrawal per day, Arranged Overdraft facility (subject to status). Online and Mobile Banking with text and email alerts. Must be 18 or older and live in the UK permanently. 39.94% EAR overdraft charge. Bank is registered with the Financial Services Compensation Scheme (FSCS), so any money you keep will be fully protected, up to £85,000
Why we like it: Free current account. Pays 0.05% AER interest on balances up to £85,000. Get set up in minutes. Send money abroad: Fast and secure money transfers to bank accounts in 38 countries worldwide. No fees when you pay with your card abroad or withdraw money. Get a spotlight on your spending: See what you’ve spent instantly with real-time payment notifications. 3 month interest holiday on the first £500 of an arranged overdraft. Best British Bank and Best Current Account in 2020 at the British Bank Awards. Awarded 5 stars by Defaqto. Bank is registered with the Financial Services Compensation Scheme (FSCS), so any money you keep will be fully protected, up to £85,000
Why we like it: A bank account that can build credit history. No credit check during sign up. Apply straight from your mobile. Instant online decision. Get your Contactless Debit Mastercard within 3-5 working days. Add Creditbuilder onto your account and it could help build your credit rating at no extra cost. Deposit cash into your account at any Post Office UK branch. Money is available in your account immediately. Manage your account 24/7 from any device with the banking app - get real time balance information, statements, add payees send payments and apply for extras. Automatic payment alerts. UK based Customer Services Team. Your money is protected up to £85,000 by the FSCS (Financial Services Compensation Scheme)
Why we like it: Earn 0.30% AER (variable) interest on balances up to a maximum of £20,000. Up to 3% cashback on household bills - 1% on council tax bills, Mobile and home phone bills, broadband and paid-for TV packages, and Santander monthly mortgage payments. 2% on Gas and electricity bills, Santander Home Insurance premiums and Santander Life Insurance premiums, and 3% on water bills. Monthly fee of £4. Cashback capped at £5 for each cashback tier each month. Must pay in £500 pm. Bank is registered with the Financial Services Compensation Scheme (FSCS), so any money you keep will be fully protected, up to £85,000
Why we like it: Can be opened by or on behalf of any child up to the age of 18. Debit or cash card available for those aged between 13 and 18. Monthly interest. No monthly fee. For children under age 13, the account must be opened in trust and managed by an adult (trustee). If you’re aged between 13 and 18 years old and live permanently in the UK you can apply online by telephone or in branch. No overdraft facility. 1% interest on the entire balance once the balance is £100, 2.00% AER/1.98% gross (variable) on the entire balance once the balance is £1,500, 3.00% AER/2.96% gross (variable) on the entire balance once the balance is £1,500 or over (up to a maximum of £2,000). Bank is registered with the Financial Services Compensation Scheme (FSCS), so any money you keep will be fully protected, up to £85,000
NatWest current account review
NatWest offer four main types of current accounts to meet the needs of different kinds of customers.
Select Bank Account – A standard, everyday account that offers mobile and online banking as well as the option for an arranged overdraft.
Reward Account – NatWest offer four different reward accounts: Reward, Reward Silver, Reward Platinum and Reward Black. Each type of account comes with a monthly account fee that increases depending on which benefits you want to receive. Reward is the cheapest at £2 per month and Reward Black the most expensive at £28 per month.
Youth Account – NatWest offer child bank accounts as well as student and graduate accounts to match the needs of younger borrowers, those still in full-time education or who have recently graduated.
Foundation Bank Account – A basic bank account which is only available to those who are not eligible for any of NatWest’s standard bank accounts, often due to previous financial issues.
What to look for when switching current accounts
There are various key things to consider when deciding which current account is right for you and your everyday banking needs. The following are some of the most common things you should think about to help you see which current account best suits you.
Interest rates – The interest rates you pay on your savings and/or overdraft can make a big difference to whether an account offers good value for you or not. Which of the two interest rates is most important to you will generally depend on whether you are more of a saver or a spender, and therefore whether you are more likely to be in credit or in your overdraft most of the time.
Switching incentives – Many current account providers now offer attractive joining bonuses, including cash and other introductory offers. This can make a significant difference to whether a particular account offers good value or not, with some current accounts offering over £100 in switching bonuses.
Cashback – It is now common for current accounts to offer cashback deals to help make their accounts more appealing. For example, with a TSB Classic Plus Account you can earn up to £120 cashback a year just for having active monthly Direct Debits and using your debit card regularly. Others, such as the Santander 1|2|3 Current Account offer cashback on your household bills, which can soon add up to significant amounts.
Additional benefits – Many current accounts also come with additional benefits as standard or as added extras, which can be unlocked for an additional fee. These extra benefits typically include free insurance covering a range of things including travel, mobile phones and bikes. Some accounts also offer other freebies, such as free internet security software.
Compare current accounts
Take a look at the range of current accounts presently on offer from all the leading providers across the market right now to see which offers the best deal for you.