Account namePremier Reward
Earn 9 Rewards per month by making at a minimum of 2 direct debit payments of at least £4.50 each.
Account fee£2 per month
ATM withdrawal limit£300
Debit networkVisa
Card typeCash / Debit
Minimum eligibility age18 Years
Mininum operating balance£0.01
Minimum opening balance£0.01
Direct debits
Current account switch guarantee
Cheque Book

NatWest, or National Westminster Bank, was established in 1968. The bank offers a wide range of financial products, including a variety of current accounts. This review looks at the Premier Reward account.

What is the NatWest Premier Reward current account?

The NatWest Premier Reward current account is a premium current account and one step up from its standard Reward current account. The account enables you to earn Rewards that you can redeem as cashback, gift cards and ecodes, but it also offers a Premier Banking service. In return, you must meet strict qualifying criteria and pay a £2 monthly fee.

The account can be opened on an individual or joint basis and can be managed online, via the mobile banking app, over the phone or in branch.

How does it work?

With the NatWest Reward current account you’ll benefit from the following key features:

  • Earn up to £10 a month in Rewards. Earn £9 a month in Rewards for 2 or more direct debits on the account. Plus earn an extra £1 a month with 1 mobile app login.
  • Earn Rewards on spending. Earn from 1% when you spend with retail partners such as Caffe Nero, Europcar, Barrhead Travel, Boux Avenue and ATG tickets.
  • Rewards exchange. Once you reach £5 in Rewards, you can redeem it as cashback, trade it up for gift cards or ecodes with NatWest’s retail partners or donate it to charity.
  • Arranged overdraft. An arranged overdraft is available on the account. Interest applies at a rate of 39.49% EAR (variable).
  • Round-the-clock support. Expert help is available 24/7 online or over the phone.
  • Financial support. A Premier Banking Manager will be on hand to help make your financial life easier or connect you with specialist teams for more complex issues.
  • Enhanced level of insurance cover. Available if you need it with Premier Insurance.
  • Access to NatWest’s will writing and executor services. Helping you to plan for the future. A fee will apply.

Who is it for?

To apply for the NatWest Premier Reward account you will need to be at least 18 years old and a UK resident. You will also need to pay at least £1,250 each month into any eligible personal current account with NatWest and you must not currently hold 2 Reward accounts.

In addition, you will need to meet one of the following criteria:

  • Earn a minimum sole income of £100,000 or joint income of £120,000 paid into your NatWest account
  • Have £500,000 minimum mortgage borrowing with NatWest
  • Have minimum £100,000 savings or investments held with NatWest

What are the benefits?

Provided you meet the above eligibility criteria and are happy to pay a £2 monthly fee, you’ll be able to earn rewards on your account, as well as benefit from 24/7 expert help and one-to-one financial support whenever you need it. You’ll also have access to an enhanced level of insurance cover.

How to apply

You can open the NatWest Premier Reward current account online. You’ll need to provide some personal details such as your name, address, date of birth and email address, as well as proof of ID, such as a UK passport, UK or EU/EEA driving licence or an EU/EEA national ID card. You may also be asked for proof of address.

Is it safe?

Yes, NatWest is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the PRA. This means eligible deposits will be protected by the Financial Services Compensation Scheme (FSCS) up to £85,000 per person (up to £170,000 for joint accounts).

Pros and cons of the NatWest Premier Reward current account


  • Earn Rewards that can be redeemed in various ways
  • Round-the-clock support, including a dedicated banking manager
  • Arranged overdraft available
  • Access to exclusive products such as insurance


  • Monthly fee
  • Strict eligibility criteria
  • Interest charged on overdrafts at 39.49% EAR

Our verdict

If you’re after a more exclusive current account that offers a range of benefits such as 24/7 customer support, a banking manager to help you with your financial affairs and the opportunity to earn rewards, this account from NatWest is worth a look.

The downside is that you’ll need to meet strict eligibility criteria to be able to apply. You will also need to pay a monthly fee. If you don’t meet the eligibility criteria, you could look at the standard Reward account instead.

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