NatWest student account review

Learn more about the student bank account offered by NatWest.

This review takes you through the student bank account on offer from NatWest, including eligibility, how to sign up, and the pros and cons of the account.

Types of current accounts 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.

Compare NatWest’s student bank accounts

Table: sorted by interest rate, promoted deals first
Name Product Account fees Interest (AER) Funding requirement 0% overdraft limit Incentive Link Representative example
NatWest
£0
0% AER
No minimum funding requirement
Up to £500
£50 cash reward and Tastecard, valid for 4 years giving 50% off food or 2 for 1 meals, plus offers on entertainment and shopping.
View details
Representative example: If you use an arranged overdraft of £1,200 you'll be charged interest at 0% EAR variable. Representative 0% APR variable.
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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 two years), a postgraduate course (for at least one year) or a nursing course (for at least one year).

You also need to be:

  • aged 17 or over;
  • living in the UK.

To be eligible for an overdraft, you need to be 18 and have lived in the UK for three years. You’ll have to pass a credit check to be approved for an overdraft too.

How to open an account

You can apply for a NatWest Student Bank Account within six months of your course start date. Applications can be completed online or in-branch.

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 you successfully apply for an overdraft with the NatWest Student Bank Account, you’ll be given £500 interest-free until the end of your first-term. Afterwards, you can increase this to £2,000 until the end of your studies.
  • Account opening incentives. If you open a NatWest Student Bank Account by 5 November 2021, you will get £50 cash paid into your account within 10 working days of meeting the offer criteria, as well as a four-year tastecard membership, which means you get 2 for 1 or 50% off your food bill at thousands of UK restaurants, as well as discounts at the cinema.
  • Card security. You can temporarily lock your card if you lose it, then unlock it if you find it again.
  • Emergency cash withdrawals. Withdraw up to £130 per day at a NatWest ATM without your card.

Pros and cons

Pros

  • Interest-free overdraft.
  • Account opening incentives.
  • Emergency cash withdrawals if you don’t have your card.

Cons

  • There are larger interest-free overdrafts available with some other student accounts.

Frequently asked questions

Note these faqs refer to the Student Account and may not be relevant to the International Student Account.

Do I have to get my student loan paid into this NatWest account?

No. This account comes with no regular funding requirements. See how that compares in our comparison of student accounts.

How much does it cost to use the NatWest student debit card overseas?

When you use your card overseas, you'll pay a non-sterling charge of 2.75%. For, example, if you spend the local equivalent of £250, you'll be charged £6.88.

Because it's a Visa, you'll find it's accepted pretty much anywhere that takes card payments.

Compare options for keeping costs down when spending abroad.

How much does it cost to withdraw cash overseas using the NatWest student debit card?

You'll pay a currency conversion fee of 2.75%. For, example, if you take out the equivalent of £150, you'll be charged £4.13. Withdraw 250 euros (that's around £211.47) at an ATM in Paris and it'll cost you £5.82. Don't forget that the local cash machine provider may charge its own fee too.

Does NatWest's interest-free student overdraft limit increase over time?

No. If you're looking for an account which can offer an increasing overdraft limit as your course progresses, see our full comparison of student accounts.

Our verdict

The selection of perks is a standout feature of the NatWest Student Bank Account, and will likely attract plenty of students to choose it. Although the 0% interest overdraft isn’t as large as some other student accounts, it could still prove to be very useful for students throughout their studies.

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.

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