Account details
Get all the benefits you expect from student bank accounts - including a cracking interest-free overdraft.
- New NatWest customers can open a Student account in branch, online or by phone from August 19th with an unconditional UCAS offer.
- Existing NatWest customers, with a conditional offer can upgrade to a Student account online now.*
The Student account must be your main bank account receiving regular deposits. To be eligible for the Interest free overdraft you must use the account as your main bank. This means making at least one credit every three months and three debits every month.
- Railcard – 1/3 off rail fares for five years
Visit your folks, your mates or just escape for the weekend. However you want to use it, your 16-25 Railcard packs some serious savings power – shaving 1/3 off most UK rail fares.
Buy it yourself, and the five year 16-25 Railcard normally costs £130. But you can apply for a free 16-25 Railcard with your NatWest Student account.
Remember you need to register for online banking and switch off paper statements by 30th November 2010. Your 16-25 Railcard will be renewed each year provided you use your account.
16-25 Railcard is available to 1st year undergraduates who have fully opened their account by 2nd Oct.
- Student Discount Card
Bag savings on big brands with your Student Discount Card including Game.co.uk, STA Travel, 3 mobile, and New Look. Just activate your card on the Student Discount website.
- ASUS laptops
Get ready for Student life with £100 Saving on a state of the art ASUS laptop. Find out more.
- 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 a limit of £500 in your first term, £750 in your second term and £1,000 in your third term.
You can then apply for up to £1,250 in your second year, £1,500 in your third, £1,750 in your fourth and £2,000 in your fifth.
To maintain your overdraft, we need to see that you're using your NatWest Student Current Account as your main account. This means that there must be at least one credit transaction (money paid in) every three months, and three debits transactions (money paid out) every month during term time.
Your interest-free overdraft facility is only available after your A-level results, provided you are over 18. Simply pop into your local branch on or after 20 August 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 makes this credit card a handy little extra in your pocket. Please see summary box for details (PDF, 22KB). You'll also enjoy great discounts on CDs, sports gear, travel guides, gadgets and short breaks. Typical 18.9% APR (variable).
- Payments made easy - with your debit card
Whip out your debit card to pay in shops or on the internet. It's also a £100 cheque guarantee card and cash card.
- Withdraw your money - at any RBS or NW cash machine
Get your money out anytime, from any RBS or NW 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.
- Online and telephone banking - 24 hour service
Access your money when it suits you best, with online and telephone banking. And remember, you need to register for online banking and online statements to get your free 5 year 16-25 Railcard.
- Free day-to-day banking - no charges for everyday banking
It's simple. We don't charge any monthly subscription 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
Call us and we'll give you a unique PIN - which allows you to withdraw up to £300 from your account - then just visit any of our UK cash machines.
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.
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 you’ve 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 we pay you
The annual rates of interest paid on credit balances:
| Type of current account | Amount held in account | Gross Rate % | Net Rate % | AER% |
|---|---|---|---|---|
| Student Account | Any amount | 0.10 | 0.08 | 0.10 |
Calculation and application of interest
Interest is calculated on a daily basis and paid into your account once a month, usually the day after we issue your statement. The exception to this is our Cash Account, where interest is paid within the first eight days of each month.
Interest due on overdrawn balances
All Student Account customers entering their second third, fourth or fifth year of university will have the following thresholds applied:
| Interest free thresholds | Nominal monthly rate% | Nominal annual rate % | EAR % |
|---|---|---|---|
| Year 2 - £1,400 | 0.00 | 0.00 | 0.00 |
| 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 |
| 0.0% EAR Typical | |||
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 |
| 0.0% EAR Typical | |||
Charges - Arranged Overdrafts, Unarranged Overdrafts, Unpaid 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 (including savings 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 unpaid 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 Relationship Manager or your branch. Any fees payable will be advised to you at that time. | |
Unarranged overdrafts and unpaid items - charges
If we are going to debit any of the fees and charges set out in the table below from your account, we will give you not less than 14 days' notice of how much we are going to debit and when.
| Fee type | When charged on current accounts | Fee amount |
|---|---|---|
| Unpaid Item Fee | ||
An Unpaid Item Fee will be payable if:
| 21 days after the end of the charging period in which we decide not to make the payment (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. | £5 for each item (subject to a maximum of £50 in any charging period) |
| For examples showing how our charges work, please see the section headed Unarranged Overdrafts and Unpaid Items in our leaflet Our Commitment to You (PDF, 365KB). | ||
| 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.
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 £2,000 is available for students in year one after graduation
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 2010 who open a NatWest Student Account between 1 July and 2 October 2010. Customers upgrading between 1 July and 19 August must upgradeonline to be eligible for these offers.
If you do not make at least one credit transaction on your account every 3 months and at least 3 debit transactions per month during term time, thenwe reserve the right to remove any interest free overdraft on your account. We will notify you in writing not less than 60 days prior to removing your preferential overdraft terms.
All account openings are subject to acceptance.
The savings are representative of those that can be achieved by opening a NatWest Student Account. £130 based on a Railcard purchase from a train company at £26 per year for 5 years.
You must use your account as your main current account and deposit regular amounts by way of local eduction funding, parental contribution, salary, student loan or other funding such as sponsorship or bursary.
5 Year 16-25 Railcard
Promotional offer for 5 Year 16-25 Railcard and valid for NatWest Student Accounts opened between 1 July and 2 October 2010. You can still apply for the Railcard if you are 26 years or over.
In order to receive your Railcard you must register for online banking and paperless statements by 30 November 2010. Conditions of the 16-25 Railcard benefits can be found at www.16-25railcard.co.uk.Your Railcard will only be renewed to you on an annual basis provided that you remain registered for online banking and paperless statements and continue to use NatWest Student Account.
£130 value based on Railcard purchase from a train company at £26 each year for 5 years. Railcards are issued provided the account has been used during the previous 3 month period. Average yearly saving provided by Association of Train Operating Companies in 2010.
Student Discounts offer
- Discounts are available off selected retailers in accordance with the full terms and conditions specified.
- Visit studentdiscounts.co.uk/natwest for full terms and conditions.
- Saving based on free Student Discount card worth £5.
Laptop offer
- A £100 discount is available from the retail price off selected ASUS laptops.
- £100 value based on £100 discount from retail price of ASUS laptop.
- For full terms and conditions visit studentdiscounts.co.uk/natwest.
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.
*Offers available to 1st year Undergraduates commencing their first degree course, who open a student account before 2nd October.
Apply now
Call us on
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
Why NatWest?
As the official winner of the 2010 Your Money award for the best online student banking provider, you won't find a better student bank account.







