NatWest Premier Reward Black account: Is it right for you?
-
Cashback
- Account fee
- £36 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 34.49% EAR variable. Account fee of £36 per month.
Our verdict
The NatWest Premier Reward Black account is jam-packed full of perks. In fact, it includes just about everything you could want from a current account, whether that’s travel insurance, mobile phone insurance, airport lounge access, home emergency cover or a 24/7 concierge service.
However, as you might expect, it also comes with a hefty price tag of £32 a month. That said, it’s relatively easy to earn £10 a month in NatWest Rewards which effectively lowers this fee to a more competitive £22.
But while this account could be hugely attractive to those who qualify – it’s a Premier account, so it has strict eligibility criteria – whether the account is worth it depends on your circumstances.
If you don’t already have the insurance policies or other benefits this account offers elsewhere, and you love the idea of having everything in one place, this account might be for you.
But if you’re not sure you’ll make full use of the perks, or you think it’ll be cheaper to pay for these benefits separately, it's worth checking what else is out there first.
Pros
-
Huge range of benefits including travel insurance, a concierge service, airport lounge access, mobile phone insurance, breakdown cover, and home emergency cover
-
Opportunity to earn £10 a month in Rewards, reducing the monthly fee
-
Fee-free spending abroad
-
FSCS protected
Cons
-
High monthly fee
-
You’ll need to meet strict criteria to be eligible for Premier
-
You might not use all the benefits and it could be cheaper to pay for them separately
-
Fee applies to ATM withdrawals abroad
Details
Product overview
| Provider | NatWest |
| Account fee | £36 per month |
| Interest (AER) | 0% AER |
| ATM withdrawal limit | £750 |
| 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 | 34.49% |
| Representative example | If you use an arranged overdraft of £1,200, you'll be charged interest at 34.49% EAR variable. Account fee of £36 per month. |
What is the NatWest Premier Reward Black account?The NatWest Premier Reward Black current account is an exclusive bank account packed with perks for Premier customers. The bank offers 3 Premier accounts, with the Premier Reward Black account sitting at the top of the range at £32 a month.
To join Premier you must have one or more of the following:
- At least £100,000 sole income or £120,000 joint income paid into your NatWest account
- Or a minimum of £100,000 in savings or investment with NatWest
- Or a NatWest mortgage of at least £500,000
As a Premier customer, you get access to financial planning advice and exclusive financial support.
How does it work?
You must already be a NatWest Premier customer to be able to apply for the NatWest Premier Reward Black account. You’ll then be able to take advantage of the following features:
Monthly Rewards
Earn £9 a month in Rewards for having 2 or more direct debits on your account (of at least £4.50). 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 at least 1% back in Rewards when spending at selected retailers.
Worldwide family travel insurance
This covers you and your family for 90 days per trip, or 31 days for winter sports. It includes medical expenses, cancellations, baggage and more.
Worldwide airport lounge access
Your account includes DragonPass Premier+ membership, giving you unlimited access to more than 1,100 airport lounges around the world. You’ll also benefit from security fast-track at airports.
Fee-free spending abroad
Pay no foreign transaction fees when spending on your debit card overseas. This doesn’t apply to ATM withdrawals.
Mobile phone insurance
Covers phones used by you, your partner and your children against theft, loss, accidental damage and breakdown.
European and UK breakdown cover
UK and European breakdown cover provided by the AA. This covers you as a driver or passenger in any vehicle, as well as anyone driving or travelling in your car too.
Home emergency service
Get 24/7 home emergency cover up to £750 for 2 homes – your main residence and any second home you own in the UK.
Concierge service
Enjoy priority booking for restaurants, hotels and events worldwide, as well as tailor-made holidays and complimentary upgrades. The concierge service is available 24/7.
Ticket booking
Get 25% cashback on tickets for concerts, shows and sporting events when booking through Membership Services.
Cinema discount
Save money on cinema tickets at more than 250 cinemas nationwide.
Interest-free overdraft
Pay no interest on the first £500 of your overdraft.
Reward Black credit card
Get access to the Reward Black credit card without paying the monthly fee. You must be earning at least £15,000 a year.
Frequently asked questions
Your reviews
