How much does it cost to withdraw cash on my card abroad?

If you withdraw cash on your card overseas, you’ll be charged a non-sterling transaction fee of 2.75%.

Who is covered under travel insurance?

Family travel insurance covers you and your partner, plus any dependent children under the age of 18 at the start of the trip - or under 23 if they are in full-time education. Children must live with you or the other parent.

How do I exchange my Rewards?

You can exchange Rewards once your balance is at least £5. You will be able to do this in the app or through online banking.

NatWest Reward Platinum account: Is it worth it?

Cashback

Incentive: £150 switch offer. T&Cs apply.
Account fee: £22 per month
Interest (AER): 0% AER
Overseas card transactions: 0%
Representative example: If you use an arranged overdraft of £1,200, you'll be charged interest at 39.49% EAR variable. Account fee of £22 per month.

Our verdict

Compared to some of its competitors, the NatWest Reward Platinum packaged account has a fairly high monthly fee of £22. But if you earn the full £5 of Rewards available each month, that fee effectively drops to £17.

In return for this fee, customers can benefit from a raft of perks including worldwide travel insurance, mobile phone insurance and breakdown cover - though remember breakdown cover only protects you in the UK. You’ll also be able to enjoy fee-free spending abroad and lifestyle perks such as savings on cinema tickets and eating out.

But before deciding if this account is right for you, think carefully about whether you’ll make full use of the benefits, check whether it’s cheaper to buy standalone insurance policies, and consider whether you might already have some cover elsewhere - through credit cards or home insurance for instance.

Pros

Opportunity to earn £5 a month in Rewards, reducing the account fee
Range of perks including travel insurance, mobile phone insurance and breakdown cover
Fee-free spending abroad
FSCS protected

Cons

Monthly fee
You might not use all the benefits and it could be cheaper to pay for them separately
Breakdown cover only applies in the UK
Fee applies to ATM withdrawals abroad

Details

Product overview

Incentive	£150 switch offer. T&Cs apply.
Provider	NatWest
Account fee	£22 per month
Interest (AER)	0% AER
ATM withdrawal limit	£300
Debit network	Mastercard
Minimum eligibility age	18
Direct debits
Current account switch guarantee
Cheque Book

Fees

Currency conversion withdrawal for overseas cash withdrawal in Europe (EEA)	2.75%
Currency conversion withdrawal for overseas cash withdrawal in non-Europe (EEA)	2.75

Overdraft information

Arranged overdraft available
Arranged overdraft rate	35%
Representative example	If you use an arranged overdraft of £1,200, you'll be charged interest at 35% EAR variable. Account fee of £17.5 per month.

What is the NatWest Reward Platinum account?

The NatWest Reward Platinum account is a packaged bank account that offers both cash rewards and perks such as insurance to its customers. In return, you must pay a monthly fee of £22.

To apply, you must already be an existing NatWest current account customer. You can then upgrade your account online or in the app.

How does it work?

If you sign up for the NatWest Reward Platinum account, you’ll be able to take advantage of the following features:

Monthly Rewards

Earn £4 a month in Rewards for having 2 or more direct debits on your account (of at least £2). Plus earn £1 a month in Rewards just by logging into the mobile app. Rewards can be transferred into your account, or you can donate them to charity or exchange them for gift cards for partner retailers.

You can also earn 1% back in Rewards when spending at selected retailers.

Worldwide family travel insurance

This covers you for trips of up to 31 days across the globe. It includes emergency medical expenses, cancellations, baggage and more.

Mobile phone insurance

Protect your phone against loss, theft, accidental damage and breakdown wherever you are in the world.

UK breakdown cover

Breakdown cover provided by the AA covers all vehicles you own and travel in, across the UK.

Fee-free spending abroad

Spend on your card across the globe with no foreign transaction fees (this doesn’t apply to ATM withdrawals).

Cinema discount

Benefit from savings on cinema tickets at more than 250 cinemas nationwide.

Tastecard

Enjoy a free tastecard to give you discounts at restaurants across the UK.

Frequently asked questions

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables is provided by Defaqto. In other cases, Finder has sourced data directly from providers.