To get your benefits you must use Student Account as your main current account by depositing at least £750 every 6 months and making at least 3 debit transactions every month. If you stop using your account as your main current account then the interest rate you pay on your arranged overdraft will revert to the standard rate which applies to the Select Account. For details of our rates of interest see our leaflet Personal & Private Current Account Fees & Interest Rates (PDF 674KB). To use our iPhone, iPad and BlackBerry mobile banking apps you need to be registered for online banking and have a mainland UK mobile number starting 07.
- Interest-free overdraft - up to £1,000 in your first year
You can apply for an interest-free overdraft - up to £1,000 in your first year. However, to help you budget we normally offer an overdraft limit of £500 in your first term, £750 in your second term and £1,000 in your third term.
You can then apply for an overdraft up to £1,250 in your second year, £1,500 in your third, £1,750 in your fourth and £2,000 in your fifth.
You must use your Student Account as your main current account by depositing at least £750 every 6 months and making at least 3 debit transactions every month. If you stop using your account as your main current account then the interest rate you pay on your arranged overdraft will revert to the standard rate which applies to the Select Account. For details of our rates of interest see our leaflet Personal & Private Current Account Fees & Interest Rates.
Your interest-free overdraft facility is only available after your A-level results, provided you are over 18. Simply pop into your local branch with confirmation of your university place.
Overdraft repayable on demand.
- Student Credit Card - a credit limit up to £500
Up to 56 days interest-free credit on purchases if you pay your balance in full and on time, and have paid the previous months balance in full and on time. Please see summary box for details (PDF, 86KB). You'll also enjoy great discounts on CDs, sports gear, travel guides, gadgets and short breaks. Representative 18.9% APR (variable).
- Payments made easy - with your debit card
Whip out your debit card to pay in shops or on the internet.
- Withdraw your money - at almost any cash machine
Get your money out anytime, from almost any cash machine.
- Chequebook available - when cash or cards aren't convenient
Sometimes a cheque is just the best way to pay. Apply for a chequebook if you need one, subject to eligibility.
- Overseas cash - ideal if you're planning a trip
Get your money in the local currency. Just look out for cash machines with the logo that's on your card.
- We're on campus - at 55 of the UK's biggest universities
There are NatWest branches at 55 of the UK's biggest universities, plus more student advisers than any other UK bank. We've also got around 1600 branches throughout the UK.
- Mobile phone banking - text alert updates on your account
Register to get text alerts sent straight to your phone, when your account hits upper and lower limits set by you. Your network provider may charge you to receive texts while overseas.
- Online and telephone banking - 24 hour service
Access your money when it suits you best, with online and telephone banking.
Your Money Best Online Banking Provider Personal Finance Best Online Banking Provider
We’re the 2011 Your Money best Online banking Provider and the 2011/2012 Personal Finance Best Online Banking Provider.
- Free day-to-day banking - no charges for everyday banking
It's simple. We don't charge any monthly account charges just to run your account - as long as you stay within your agreed overdraft limit.
- Online statements - never lose another bank statement
Switch to our online service, and your statements will never get delivered to your old address or lost in a pile of fast food menus. You can also search back through old transactions. Plus online statements help you fight against identity fraud.
- Mobile phone top-ups - stay in touch
Got a pay-as-you-go mobile? You can top up at any NatWest cash machine.
- Emergency cash - never get stuck if your card is lost or stolen
Get emergency cash from our ATMs if you lose your debit card. You can access up to 300 from your account if you are an online or telephone banking customer and if you arent, well still give you up to 60 to tide you over these amounts are providing you have the money available in your account. As a minimum you must have 25 available in your account to use this service.
Stay in control with online banking
With a hectic student lifestyle, you might find it hard to keep regular banking hours. Bank your own way with online banking.
Bank when it suits you
Available day and night, you can do your banking whenever it suits you.
Pay bills
Forget cheques - it's quicker and safer to send money online. You can even set up standing orders for regular payments and manage your Direct Debits.
Transfer money
Make instant transfers to any NatWest account - and transfer money to any other UK bank account.
Manage your account
Check balances and statements, searching through up to seven years of transactions. It's easy to find what you're looking for.
Stay safe
With secure servers, free security software and Card-Readers, we're working hard to stamp out fraud.
We’re the 2011 Your Money best Online banking Provider and the 2011/2012 Personal Finance Best Online Banking Provider
Seeing your account in online banking
Signing up to online banking
It's easy. You'll be given the opportunity to sign up when applying for a Student account.
Already bank online?
If you already bank online with NatWest you should automatically see your Student account once it has been fully opened.
Already have a Student account?
If youve already got a Student account, but not online banking, signing up is simple and you could get instant access. Sign up now if you already have a Student account.
This page provides a summary of the rates and charges that apply to NatWest current accounts.
Full copies of the fees and interest rates, and terms and conditions that apply to our personal accounts can be downloaded from our terms and conditions page.
You may need Adobe Reader to view some of these documents. Get Adobe Reader. Visit access.adobe.com.
We also have a separate page providing an update on unarranged overdraft charges.
Common definitions
Throughout this page, you'll see various terms being used. Here's what they mean:
- 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).
Interest due on arranged overdrafts
Student Account
Your overdraft is available at a preferential rate while you hold a Student Account. If at any time you cease to be a Student customer for any reason, then the interest rate you pay on your overdraft will revert to the standard rate which applies to Select Account customers.
Student Account arranged overdrafts are interest free and available subject to status. If you request an arranged overdraft with a limit which exceeds the thresholds set out below, you will need to provide additional information to support your application.
You must use your Student Account as your main current account by depositing at least 750 every 6 months and making at least 3 debit transactions every month. If at any time you stop using your account as your main current account then the interest rate you pay on your arranged overdraft will revert to the standard rate which applies to the Select Account. For details of our rates of interest see our leaflet Personal & Private Current Account Fees & Interest Rates.
All Student Account customers entering their third, fourth or fifth year of university will have the following thresholds applied:
| Interest free thresholds | Nominal monthly rate% | Nominal annual rate % | EAR % |
|---|---|---|---|
| Year 3 - £1,600 | 0.00 | 0.00 | 0.00 |
| Year 4 - £1,800 | 0.00 | 0.00 | 0.00 |
| Year 5 - £2,000 | 0.00 | 0.00 | 0.00 |
From 2010 all Student Account customers starting their first year of university will have the following thresholds applied:
| Interest free thresholds | Nominal monthly rate% | Nominal annual rate % | EAR % |
|---|---|---|---|
| Year 1 (1,000) | 0.00 | 0.00 | 0.00 |
| Year 2 (1,250) | 0.00 | 0.00 | 0.00 |
| Year 3 (1,500) | 0.00 | 0.00 | 0.00 |
| Year 4 (1,750) | 0.00 | 0.00 | 0.00 |
| Year 5 (2,000) | 0.00 | 0.00 | 0.00 |
Unarranged overdrafts
With effect from 01 February 2011, we do not charge debit interest on unarranged overdrafts.
Previous Rates
The following previous rates were effective from 5 June 2000.
| Type of current account | Previous Nominal monthly rate% | Previous Nominal annual rate % | Previous EAR % |
|---|---|---|---|
| Student Account | 1.38 | 16.50 | 17.81 |
Arranged Overdrafts, Unarranged Overdrafts, Returned Items and Enforcement Charges
The charges shown in this section do not normally apply to the other accounts we offer to Personal and Private Banking customers. However, we sometimes allow other accounts to be operated in a way which enables the customer to give instructions for a withdrawal or other payment which cannot be met from the funds in the account. If this happens, the charges listed below in the sub-section "Unarranged overdrafts and returned items - charges" will apply.
Arranged overdrafts arrangement and renewal fees
| Fee payable | |
|---|---|
| Student Account and Graduate Accounts | |
| Overdrafts up to the arranged limit | No fee |
| Temporary or increased facilities for all customers | |
| If you wish to increase an existing facility at any time contact your Private Banking Manager or your branch. Any fees payable will be advised to you at that time. | |
Unarranged overdrafts and returned items - charges
Act Now Alerts
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 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.
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).
For examples showing how our charges work, please see the section headed Unarranged Overdrafts and Returned Items in our leaflet Our Commitment to You (PDF, 685KB)
| 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 |
Additional services
| 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 |
| Arrangement fee for Advantage Private FlexiLoans | Any fees payable will be advised to you at the time |
| FlexiLoan arrangement fee | 2% of amount borrowed (minimum fee £100 |
| Emergency Cash Service | Any fees payable will be advised at the time |
| Safe Custody | |
|---|---|
| Annual Holding Charges (payable annually in arrears) | |
|
|
| Initial and subsequent re-deposit(s) | £9.79 |
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 £9.79 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.
Full copies of the fees and interest rates, and terms and conditions that apply to our personal accounts can be downloaded from our terms and conditions page.
Credit facilities: Over 18s only. Calls may be recorded. Details correct at the time of publication. Security may be required.
Mobile phone top-up facility
Mobile phone top-up facility available at all NatWest cash machines and those displaying the top-up logo, including those operated by Royal Bank of Scotland and Tesco Personal Finance. Top-up amounts are subject to your debit card daily withdrawal limit and the availability of sufficient funds. Network operator top-up limits may also apply.
Overdrafts
- You have to repay any overdraft upon our request. Overdraft and interest rates may change
- An arranged overdraft of up to £1,000 is available for students in year one
Sometimes we have to update our systems so our 24-hour telephone and Online banking services may not be available for short periods in the early hours of the morning.
Credit facilities: Over 18s only. Overdrafts repayable on demand.
These offers are only available to customers of NatWest who will be 1st year undergraduates commencing their first year Higher Education course in 2011 who upgrade to a NatWest Student Account between 15 July and 2 October 2011. The Railcard offer is only available to existing current account customers who have held their account prior to 1st June 2011 and upgrade to a Student Account between 15 July and 2 October 2011.
Existing Customers: If you apply for the NatWest Railcard, the 5-year 16-25 Railcard will be dispatched to you only after you have registered for Online Banking and online statements.
You must use your Student Account as your main current account by depositing at least 750 every 6 months and making at least 3 debit transactions every month. If you stop using your account as your main current account then the interest rate you pay on your arranged overdraft will revert to the standard rate which applies to the Select Account. For details of our rates of interest see our leaflet Personal & Private Current Account Fees & Interest Rates.
All account openings are subject to acceptance.
Mobile Phone Banking
If you're on the Orange, Virgin or Vodafone networks, you may need to pay standard tariff rates for the data you download as part of the mobile phone banking service. Contact your network operator to find out more.
Please also read our website terms and conditions which cover your use of this website.
Apply now
Call to book an appointment or speak to an advisor
0800 881 771
Minicom
0800 169 0088
Lines are open: Mon to Fri 8am-8pm, Sat 9am-6pm
(excl. public holidays).
Calls may be recorded