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This year, NatWest is offering £100 cash and a free 4 year tastecard. This gets you 25% off the total bill at participating restaurants, 2 for 1 meals or 50% off food. You can also get 25% off barista-made drinks at select coffee shops, as well as discounted cinema tickets and days out.
Types of current account for students
NatWest has one current account available for students – the NatWest Student Bank Account.
Below, we’ll explore some of the key details of this account.
Eligibility
To be eligible for a NatWest Student Bank Account, you’ll need to be studying in the UK on a undergraduate course (for at least 2 years), or a nursing course (for at least 1 year), or completing a course that has already started or is starting within the next 6 months.
You also need to: –
be aged 17 or over
have been living in the UK for at least 3 years
Student arranged overdrafts are available to NatWest Student current account holders aged 18 or over. You’ll have to pass a credit check to be approved for an overdraft too. You must use your Student account as your main account by depositing your wages or other regular income into it.
How NatWest’s student account overdraft compares with other student bank accounts
When you start to compare student bank accounts, you'll find that they all offer some sort of interest-free overdraft. However, how much this is and when you can apply for more depends on the bank. Let's take a look at how the major UK banks stack up when looking at a 3-year course.
Provider
Year 1
Year 2
Year 3
NatWest
Up to £500 when you first open your student account
Up to £2,000 from your second term in your first year
Up to £2,000
Up to £3,250
RBS
Up to £500 when you first open your student account
Up to £2,000 from your second term in your first year
Up to £2,000
Up to £3,250
Santander
Up to £1,500
Up to £1,500
Up to £1,500
Nationwide
Up to £1,000
Up to £2,000
Up to £3,000
Lloyds
Up to £1,500
Up to £1,500
Up to £1,500
HSBC
Up to £1,000
Up to £2,000
Up to £3,000
Barclays
Up to £500 in your first term
Up to £1,000 from your second term in your first year
Up to £1,500
Up to £1,500
How to open an account
You can apply for a NatWest Student Bank Account within 6 months of your course start date. Applications can only be completed online.
As part of your application, you’ll need to share various personal and financial details. You’ll also need to share details of the course you’re on, and prove your student status by sharing your 16-digit UCAS code.
The benefits
Interest-free overdraft. If your application is successful, you can apply for an overdraft with the NatWest Student Bank account.
Account opening incentives. NatWest often runs account opening incentives where you can be rewarded for opening an account – for example, an annual tastecard to get you discounts on meals out and takeaways.
Pros and cons
Pros
Interest-free overdraft.
Account opening incentives.
Cons
This account is not available to international students.
Overdraft is limited for the first term.
Customer service information for NatWest
Email support
Telephone support
In-app or live chat
Contact form
Branch support
Our verdict: Is a student account from NatWest worth it?
With its extra perks and an interest-free overdraft, NatWest offers a standout student account.
The bank has focused on creating features that will help students live their life, including budgeting features in its app. But if you’re after different types of student perks like a free railcard then it might be best to look at other student accounts.
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.
Matthew Boyle is a banking and mortgages publisher at Finder. He has a 7-year history of publishing helpful guides to assist consumers in making better decisions. In his spare time, you will find him walking in the Norfolk countryside admiring the local wildlife.
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Nationwide’s FlexStudent Current Account is designed to help students through their studies and offers a large interest-free overdraft.
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