What you get with this account
- Travel insurance: annual European cover including winter sports. Save up to £120 a year.
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- 5 Star Defaqto rated cover.
- Gives you up to 22 days cover for each trip – including winter sports.
- £10 million medical expenses cover.
- Includes you and joint account holders when you have a joint account.
Members and joint account holders aged 70 years and over must pay an additional annual premium of £50. If you have an existing medical condition you may have to pay an annual premium or accept your cover may exclude certain conditions.
- Mobile Phone Insurance: worth up to £119 a year
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- Covers all mobile phones – including iPhone.
- Protect up to two phones if you have a joint account.
- Up to £750 replacement value per phone – If your phone is worth more than £750, you’ll only be covered up to £750.
- Covers loss, theft, accidental damage and breakdown – including water, liquid and malicious damage and electrical or mechanical fault.
- Unauthorised calls cover – up to £1,000 for monthly contracts and up to £100 for pay as you go.
Cover commences 14 days after registration.
- Identify Theft Assistance: Save up to £115 a year.
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Identity theft can be expensive – it can also cause months of hassle. As a Select Silver Account customer, we’ll help you beat the identity thieves and give you the support you’ll need if the worst should happen.
- Credit report – check your credit status and receive alerts from Experian if anyone is using your personal details.
- Personal support – if you fall victim to identity theft, a dedicated caseworker will help defend and restore your credit status.
- CIFAS registration – alerts you if your details are used on a credit application.
- Valuable document registration – lets you keep important information, such as your passport number or details of insurance policies, in a secure place. If you lose your documents, we can provide you with their details.
You need to register for credit report and valuable document registration. For joint accounts both parties must register to use this benefit.
- hmvdigital Downloads. Save up to £77 a year
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- Lets you find, download and enjoy the music you love, the moment it’s released on MP3 format.
- Download up to five tracks each month to your computer that are compatible with most music devices and mobile phones.
- Choose from over 13 million tracks from your favourite artists – from rock and pop to classics and jazz.
- New releases included.
- Secure back up of all your music downloads – so if you lose your music files you can download them again free of charge.
- DVD rental from LOVEFiLM (online access is required). Save up to £71 a year
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Select three DVD’s to rent each month (we’ll send them to you one at a time) and up to two hours of online viewing each month.
- Delivery straight to your home – and no delivery or return costs to pay plus no late fees ever.
- Choose from over 70,000 DVD, Blu-Ray and TV titles, including new releases and old favourites.
- Includes all genres – action, adventure, comedy, children’s and lots more.
- 1000’s of films and TV shows streamed to your computer, TV or PS3.
- Preferential rates on Travel Money – special rates on your foreign banknotes and travellers cheques delivered to your home (or local branch) at no extra charge.
- Visa debit card – lets you make purchases and withdraw money from any cash machine in the UK and overseas. Fees and charges apply to overseas withdrawals.
- Overdraft (subject to eligibility) - extra breathing space for your finances.
- Standing orders and Direct Debits – and a cheque book, making it easy for you to pay your bills.
- Monthly statements – check them online or receive a paper copy.
- Emergency cash – if you lose your debit card you could withdraw up to £300 from any NatWest, RBS or Ulster Bank cash machine, if you have enough money in your account. You need to be an online or telephone banking customer to withdraw up to £300. If not you can withdraw up to £60 only. You must have at least £25 in your account to use this service.
If you’re upgrading to Select Silver Account from our Basic Account you may not be eligible for an overdraft or cheque book.
- Banking Offers
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From time to time we will have Banking Offers for Select Silver Account customers. These could include:
- Car and home insurance – save money on your first year’s premium (car insurance is subject to a minimum premium).
We make it easy to bank with NatWest
Managing your money is easy
Online, on the phone, on your mobile and at over 1500 UK branches.
More on ways to bank.
Our commitment to you
Our Customer Charter aims to help us become Britain's most Helpful Bank. More on our commitment to you.
Potential savings
| Account benefit | Save up to |
|---|---|
| 5 Star Defaqto rated European Travel Insurance | £120 |
| Mobile phone insurance | £119 |
| hmvdigital | £77 |
| LOVEFiLM DVD Rentals | £71 |
| Identity Theft Assistance | £115 |
| Travel Money | £20 |
| Total value | £522 |
| Annual subscription (A monthly fee of £8) | £96 |
| Save up to | £426 |
We’re committed to becoming Britain’s most Helpful Bank
Over the past six months we have been tracking our performance against our customer charter commitments. We will continue to set new and challenging goals and we promise to continue to share our progress along the way.
1. We will extend our opening hours in our busiest branches
Since launching the charter we have opened 846 of our busiest branches every Saturday and extended the opening hours of 206 of our busiest branches.
2. We will aim to serve the majority of customers within 5 minutes in our branches
Since 2009 we have rolled out 488 cash and deposit machines in 276 branches, and introduced a new queue management programme in 1,782 branches.
3. We will provide you with friendly, helpful service whenever you deal with us
8 out of 10 customers rated us helpful during 2010 and we are working to increase this to 9 out of 10.
4. We will help you to make the right choices for you and your money, providing a clear product range with simply explained features and charges
We have rolled out our new Customer Review Programmes across our branch network and 6,300 staff have been trained to use them. From February 2011 we also have revised literature available in our banking halls.
5. We will provide a 24/7 telephone banking service
We answered 91.4% of your calls in less than a minute and all of our telephone banking centres are open 24/7.
6. We will work with you to keep you safe when you bank online and on your mobile with us
We published our online banking security promise in July and since 2009 our free, market leading software has been downloaded more than 4.5 million times.
7. We will help you quickly if your debit card is lost or stolen and you need access to cash
We sent all replacement debit cards within 24 hours and our emergency cash service is now free of charge.
8. We will continue to be a responsible lender and are committed to finding new ways to help
We have not increased credit card limits for any customer struggling to meet their payments.
9. We pledge to stay open for business if we are the last bank in town and will consider a range of options to ensure a local banking service is available
We continued to provide banking services in 146 locations where we are the last bank in town.
10. We will provide young people with financial education through our independently accredited MoneySense programme
We continued to support Primary and Secondary school children by providing 30,653 lessons designed to develop good money management skills.
11. We will actively support the local community in which we live and work
In December we donated £1.6 million to 977 of 1,071 winning charities and projects with the remaining receiving a share of £152,000 in early 2011.
12. We will resolve customer complaints fairly, consistently, and promptly
We have already started to make significant improvements to address issues, including simplifying our complaint handling process and retraining over 10,000 staff.
13. Twice a year we will publish the most common of complaints
We published the 5 most common complaints on our website and are working on addressing these.
14. We will actively seek your thoughts and suggestions on how we can become more helpful
We have launched a customer listening programme which has provided excellent insight about improvements to our products and processes, several of which are underway.
And you'll be the judge
We will continue to publish a report every six months to let you see how well we have fulfilled our commitments and identify additional areas which need improvement. It will also include a full range of customer comments.
This is a summary of the rates and charges that apply to NatWest current accounts.
For full information, download:
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- Annual Equivalent Rate (AER) - this is a notional rate used for interest bearing accounts which illustrates what the gross credit interest rate (excluding any bonus interest payable) would be if paid and compounded on an annual basis. It helps you to compare the effective rates of credit interest on different accounts.
- Effective Annual Rate of Interest (EAR) - this is the real annual cost of an overdraft, stated as an annual rate, which takes into account how often interest is charged to the account. All other charges, such as arrangement fees, must be shown separately from the EAR.
- Gross Rate - this means the interest rate you are paid before the deduction of income tax.
- Net Rate - this means the interest rate you are paid after the deduction of income tax.
- Nominal Rate - the rate charged excluding compounding of interest and other charges associated with a borrowing, e.g. arrangement and security fees.
- p.a. - per annum (per year).
Membership includes access to all the benefits listed in the appropriate brochures and user guides.
| Type of current account | Subscription fee |
|---|---|
| Select Silver Account | £8 per month. |
Application of subscription fees
The subscription fee for each monthly charging period will be debited from your account 21 days after the end of that charging period (or on the next business day if this is a Saturday, Sunday or Bank Holiday). The fee will appear on your statement as ‘CHG’. The charging period normally ends on the date that we issue your statement to you.
1. Arranged overdrafts
If you have arranged an overdraft facility with us in advance and you use this facility within the thresholds shown below, you will not pay any interest.
If the amount you overdraw under an arranged overdraft facility exceeds these thresholds, you will pay interest at the rates shown in the tables below on the overdrawn balance - even the part of the balance which is within any interest free threshold that applies to your account. However, we will not charge interest on any part of the overdrawn balance which is an unarranged overdraft or represents fees, charges or costs of the kind described in section 7 of our leaflet: NatWest Personal & Private Current Account Terms; Personal & Private Current Account Fees & Interest Rates; Helping you get the most from your Personal & Private NatWest Current Account (PDF). However, fees will apply to any unarranged overdraft.
If you have arranged an overdraft facility with us in advance under which you pay interest at a rate other than the rates shown in the tables below, the interest free thresholds shown below will not apply to your account.
Your overdraft may be subject to an arrangement fee. Our unarranged borrowing fees will apply if you borrow over your arranged limit. Please see the "Unarranged overdraft and Returned Items - Charges" section for details.
Interest free thresholds
| Type of current account | Interest free threshold |
|---|---|
| Select Silver Account | £100 |
Current rates
The following rates are effective from 4th July 2011
| Type of current account | Nominal monthly rate % | Nominal annual rate % | EAR % |
|---|---|---|---|
| Select Silver Account | |||
| All amounts | 1.52 | 18.28 | 19.89 |
Representative Example:
Overdraft limit: £1,200
Arrangement Fee: £0
Interest Rates 19.89% p.a. (variable)
Account Monthly fee: £8
Our unarranged borrowing fees will apply if you borrow over your arranged limit. Please see the 'Unarranged overdrafts and returned items – Charges' section for details.
2. Unarranged overdrafts
With effect from 4th July 2011, we do not charge debit interest on unarranged overdrafts.
- Calculation and application of interest
Interest on arranged overdrafts is calculated on a daily basis and charged monthly.
The interest we charge in each charging period will be debited from your account 21 days after the end of that charging period (or on the next business day if this is a Saturday, Sunday or Bank Holiday). The charging period normally ends on the date that we issue your statement to you. If we are going to debit interest from your account, we will give you not less than 14 days’ notice of how much we are going to debit and when.
- Sums which do not bear interest
We do not charge interest on unarranged overdrafts. Nor do we charge interest on any part of an arranged overdraft which represents:
- a Default Notice Fee or other sum (apart from interest) you must pay us in connection with a breach of your obligations under your agreement with us; or
- A Returned Item Fee or Unarranged Overdraft Fee (see our leaflet NatWest Personal & Private Current Account Terms; Personal & Private Current Account Fees & Interest Rates; Helping you get the most from your Personal & Private NatWest Current Account (PDF) for details of these charges).
Arranged overdrafts – arrangement fees
| Select Account, Select Silver Account and Advantage Gold Account | Fee payable |
|---|---|
| Arranged overdrafts of £7,500 or less | Free |
| Arranged overdrafts of more than £7,500 | 2% of amount (minimum £30) |
Representative Example:
Overdraft limit: £1,200
Arrangement Fee: £0
Interest Rates 19.89% p.a. (variable)
Account Monthly fee: £8
Unarranged overdrafts and returned items - charges
Our Act Now Alerts can help you stay in control and minimise or even avoid fees for unarranged overdrafts and returned items. They specify the time by which you should credit your account with cleared funds to cover all payments and/or to bring your account back into credit or within any arranged overdraft limit. Find out more about Act Now Alerts.
If we are going to charge you an Unarranged Overdraft Fee and/or a Returned Item Fee, we will give you not less than 14 days’ notice of how much we are going to charge you and when.
Unarranged Overdraft Fee
An Unarranged Overdraft Fee will be charged for each day on which there is an unarranged overdraft of greater than £6 on your account at close of business on that day. Please note: we will only charge an Unarranged Overdraft Fee for a non-business day (i.e. a Saturday, Sunday or Bank Holiday) if there is an unarranged overdraft of greater than £6 owing on your account at close of business on the first following business day.
When charged
21 days after the end of the charging period (or the next business day if this is a Saturday, Sunday or Bank Holiday). The charging period normally ends on the date that we issue your statement to you.
Fee Amount
£6 for each day for which an Unarranged Overdraft Fee is payable.
Returned Item Fee
A Returned Item Fee will be charged if:
- you informally request an unarranged overdraft by issuing instructions for a withdrawal or other payment; and
- the payment cannot be met from the funds in your account or any unused arranged overdraft facility; and
- we decide in our discretion not to make the payment.
When charged
21 days after the end of the charging period in which we decide not to make the payment (or the next business day if this is a Saturday, Sunday or Bank Holiday). The charging period normally ends on the date that we issue your statement to you.
Fee amount
£6 for each returned item (subject to a maximum of £60 in any charging period).
Making an informal request for an unarranged overdraft means you will normally have to pay a Returned Item Fee and/or an Unarranged Overdraft Fee. Please note that it is possible to incur both a Returned Item Fee and an Unarranged Overdraft Fee on your account on the same day or as a result of a single transaction (for example, where we take a Returned Item Fee from your account and this creates an unarranged overdraft of greater than £6 on your account).
For examples showing how our charges work, please see the section headed Unarranged Overdrafts and Returned Items in our leaflet NatWest Personal & Private Current Account Terms; Personal & Private Current Account Fees & Interest Rates; Helping you get the most from your Personal & Private NatWest Current Account (PDF).
Enforcement Charges
| Enforcement | ||
|---|---|---|
| A Default Notice Fee will be payable if we need to serve a default notice on you (for example, if you fail to repay your overdraft on demand or we wish to enforce any security we hold). This is in addition to any other charges that may apply. | Within four days of the Default Notice being served. | £30 per notice |
| Stopping payment instructions | |
|---|---|
| Stopping a cheque (unless it has been lost or stolen) | £10 |
| Payments | |
|---|---|
| Obtaining a banker's draft | £12 |
| Obtain a special cheque clearance | £15 |
| CHAPS payments | £23 - between banks £21 - between our branches |
| Obtaining copies of statements | £5 per request |
| Safe Custody | |
|---|---|
| Annual Holding Charges (payable annually in arrears) | |
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| Initial and subsequent re-deposit(s) | £10 |
Annual Holding Charges are applied in arrears so any withdrawal made prior to the anniversary of the deposit will incur a pro-rated amount of the annual charge. In addition, a £10 fee will be charged for initial deposits and any re-deposits following item inspection or temporary release. The charges set out above are inclusive of VAT. Please note that we only accept new items into Safe Custody for our Private Banking customers. Items already held by us in safe custody will continue to be held.
If the service you are looking for is not shown in the table above, please ask at any branch or call the number on your statement summary sheet.
- Important Information – Select Silver Account Guarantee
If you opened your Select Silver Account on or after 4 July 2011, you are eligible to benefit from our Select Silver Account Guarantee.
If you use any of the Select Silver Account benefits within 60 days of your account being opened and are not satisfied within that 60 day period, we will refund all subscription fees you have paid for your Select Silver Account in the first 60 days of account opening.
We may change or withdraw the Select Silver Account Guarantee at any time without giving you prior notice.
To claim a refund please call our freephone helpline 0800 408 0337. Minicom 0870 600 0856.
Lines are open 8am to 8pm Monday to Friday and 9am to 5pm Saturdays. Calls may be recorded.
Please also read our website terms and conditions which cover your use of this website.
For the full terms and conditions, download NatWest Personal & Private Current Account Terms; Personal & Private Current Account Fees & Interest Rates; Helping you get the most from your Personal & Private NatWest Current Account (PDF).
Select Silver Account costs £8 a month.
- Benefit provider information
5 Star Defaqto rated European Travel Insurance
NatWest travel insurance is underwritten by UK Insurance Limited (UKI) who are authorised and regulated by the Financial Services Authority. Registered No. 1179980. UKI is a Royal Bank of Scotland Group Company.
Mobile Phone Insurance
This cover has been arranged for NatWest by Homecare Insurance Limited, Holgate Park, York YO26 4GA. Registered in England No. 2793290. A member of the CPP Group of companies and trading under the CPP trademark.
Identity Theft Assistance
This benefit has been arranged for Natwest by Card Protection Plan Limited, Holgate Park, York, YO26 4GA. Registered in England No 1490503.
HMV Downloads
This service is provided by 7digital Limited. Registered office: Unit F, Lower Ground Floor, 5-25 Scrutton Street, Zetland House, London EC2A 4HJ. Registered in England and Wales No. 04843573.
This benefit has been arranged for NatWest by Syncredible Agency Limited. Registered office: 26-28 Hammersmith Grove, London W6 7BA. Registered in England and Wales No. 04631831.
LOVEFiLM DVD Rentals
This service is provided by LOVEFiLM UK Limited, No. 9, 6 Portal Way, London W3 6RU. Registered in England and Wales No 6528297.
This benefit has been arranged for NatWest by Syncredible Agency Limited. Registered office: 26-28 Hammersmith Grove, London W6 7BA. Registered in England and Wales No. 04631831.
