Account details
Everything you need from a student bank account
Get all the benefits you expect from student bank accounts - including a cracking interest-free overdraft.
- Interest-free overdraft - up to £1,250 in your first year
You can apply for an interest-free overdraft - up to £1,250 in your first year. However, to help you budget we normally offer a limit of £500 in your first term, £1,000 in your second term and £1,250 in your third term.
You can then apply for up to £1,400 in your second year, £1,600 in your third, £1,800 in your fourth and £2,000 in your fifth.
You can use your overdraft for up to five years for as long as you're a student - and ask to have your limit lowered or raised at any time. There are charges if you go over your agreed overdraft limit.
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 almost every UK cash machine
Don't get caught without cash. Get your money out anytime, from almost every UK 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 1650 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.
And remember, you need to register for online banking and online statements to get your free 5 year 16-25 Railcard.
- 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
1. Arranged overdrafts
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 Current Plus customers.
Student Account arranged overdrafts are interest free. If you request an arranged overdraft with a limit which exceeds the thresholds set below, you will need to provide additional information to support your application.
| Interest free thresholds | Nominal monthly rate% | Nominal annual rate % | EAR % |
|---|---|---|---|
| Year 1 - £1,250 | 0.00 | 0.00 | 0.00 |
| 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 | |||
2. Unarranged overdrafts
Any amount overdrawn without an arranged overdraft or in excess of an arranged overdraft limit will be charged at the following rates:
| Type of current account | Nominal monthly rate % | Nominal annual rate % | EAR % Typical variable |
|---|---|---|---|
| Student Account | 1.38 | 16.50 | 17.81 |
However, we will not charge interest on any part of the overdrawn balance which represents fees, charges or costs of the kind described in section 6 of our leaflet: Personal and Private Banking - A Guide to Fees and Interest (PDF, 114KB) under the heading Sums which do not bear interest.
Interest on arranged and unarranged 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.
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.
NatWest Student Account Offer terms and conditions
- Full terms and conditions and details of how to access the offers are detailed in your Welcome Pack which will be sent once the account is opened.
- All account openings are subject to acceptance.
- You must use your account as your main current account. This means that the account should be used for the purpose of ordinary banking transactions, with at least 1 credit transaction on your account every 3 months and at least 3 debit transactions per month during term time (which can include debit card transactions (point of sale), direct debits and standing orders).
5 Year 16-25 Railcard
- Promotional offer for 5 Year 16-25 Railcard valid for NatWest Student accounts opened between 8 June and 10 October 2009.
- In order to receive your Railcard you must register for online banking and paperless statements by 10 October 2009.
- Your Railcard will only be renewed to you on an annual basis provided that you remain registered for online banking and paperless statements and you have continued to use your account as your main bank account.
- Please see Welcome Pack for full details of the Terms and Conditions that apply to your account.
- Available to first year undergraduates commencing their first year.
Laptop offer
- A £100 discount is available from the retail price off selected ASUS laptops.
- Visit asus.co.uk/natwest for full discount terms and conditions and for details of selected laptops available.
- £100 value based on £100 discount from retail price of ASUS laptop.
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.
Half Price Mobile Broadband offer
- 50% discount available on a 3 Pay-As-You-Go Mobile Broadband Dongle and £10 top-up credit value. The offer contains a Mobile Broadband Dongle worth £29.99 preloaded with £10 credit. The total price for a NatWest Student Account customer is £19.99.
- Saving of £19.99 based on a 50% discount off the retail price of £39.99. High street prices are subject to change.
- Visit mb3.sayoffers.com for full terms and conditions.
USB Memory Stick offer
- Only available to new customers of NatWest who are first year undergraduates commencing their first year Higher Education course, who open a Student account online at natwest.com between 8 June and 10 October 2009.
- Available whilst stocks last. Offer may be withdrawn at any time without notice
- Memory stick worth £8.24, and includes 4 months access to Squirrel Save Unlimited at £5.69 per month, totalling £31.75, plus Rapport software provided by Trusteer.
Terms for free SquirrelSave offer
This agreement is made by and between Memset Ltd. (provider of the SquirrelSave service) and the bank customer, and relates to the special offer made available to RBS, Natwest & Ulster bank customers.
The special offer comprises of:
- 4 months free trial period of the unlimited service, with the option to continue to subscribe to the standard unlimited service, conditions apply.
Conditions
- The Customer agrees to the standard terms of service described at squirrelsave.com.
- This offer shall be available between 1st June 2009 and 31st December 2009.
- The Customer agrees to provide Memset with credit or debit card details in order to initiate the four month trial of the unlimited service, and accepts that if they have not informed Memset by the end of that trial they will be charged at the standard service rate of £4.95 per month (including VAT).
- This offer is only available to the student account customers of the Royal Bank of Scotland Group (RBS), NatWest and Ulster bank customers.
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 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