NatWest Reward Silver account: Is it worth it?
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Cashback
- Incentive
- £150 switch offer. T&Cs apply.
- Account fee
- £10 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 £10 per month.
Our verdict
Many packaged bank accounts offer insurance benefits for the whole family. But if you only need cover for yourself, the NatWest Reward Silver account might offer the perfect solution.
For just £10 a month, this account comes with European travel insurance, mobile phone cover and fee-free spending abroad. It’s also easy to earn an extra £5 a month in NatWest Rewards, effectively halving the cost of the monthly fee.
But despite the many benefits of this account, it doesn’t offer as many perks as some of its competitors. This makes it important to check what else is on the market before you decide if this is the right account for you.
Pros
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Opportunity to earn £5 a month in Rewards, reducing the account fee
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Account perks include travel insurance and breakdown cover, plus discounts on cinema trips and eating out
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Fee-free spending abroad
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FSCS protected
Cons
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Travel insurance is restricted to Europe
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Monthly fee applies
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Fee applies to ATM withdrawals abroad
Details
Product overview
| Incentive | £150 switch offer. T&Cs apply. |
| Provider | NatWest |
| Account fee | £10 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 | 39.49% |
| Representative example | If you use an arranged overdraft of £1,200, you'll be charged interest at 39.49% EAR variable. Account fee of £10 per month. |
What is the NatWest Reward Silver account?
The NatWest Reward Silver account is a packaged bank account that offers a range of perks in return for a monthly fee of £10. To apply, you must be an existing NatWest current account customer.
The account is a step down from the NatWest Reward Platinum account, which means it charges a lower fee but offers fewer benefits. However, for some people, this will be enough.
How does it work?
If you apply for the NatWest Reward Silver account you’ll benefit from 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.
European travel insurance
Provides cover for trips of up to 22 days, including cancellation, baggage, emergency medical treatment and winter sports. Cover only applies to the account holder.
Mobile phone insurance
This covers your mobile phone against loss, damage, theft and breakdown wherever you are in the world.
Fee-free spending abroad
Pay no fees when you spend on your card overseas. 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
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