Defaqto 5 Star Premier rating for product features, benefits and charges (February 2011)
You can apply for a Black Account if you earn at least £100,000, or £150,000 joint annual income for a joint account, or have savings of at least £50,000 with us.
What you get with this account
A private banking service and a wealth of benefits all for a monthly fee £24.
- 5 Star Defaqto rated Worldwide multi-trip Travel Insurance
- Cover for you, your partner and any children aged under age 18 if they are unmarried (or aged 23 or under if in full-time education), permanently residing with you or the other parent.
- 5 Star Defaqto rated cover.
- You’re covered for 90 days for each trip and up to 31 days for winter sports trips.
If you have an existing medical condition you may have to pay an additional premium, accept your cover may exclude certain conditions or cover may be declined.
- Worldwide Airport Lounge Access
Relax in comfort when you’re travelling for pleasure. We’ll help you take the strain out of travel – with access to first class facilities
- Unlimited access to over 560 airport lounges worldwide, subject to availability.
- Complimentary drinks and snacks, and use of business facilities.
- Sign up for text messaging and stay updated with your flight information.
For joint accounts, both account holders must register to use this benefit.
- Black Travel Service
Enjoy a discount of up to 10% on your next holiday, city break, flight only, cruise and much more. Working with over 100 different tour and cruise operators, the Black Account Travel service gives you discounts all year round on a range of breaks and holiday extras.
- Preferential rates on Travel Money
Special rates on your foreign banknotes and travellers cheques delivered to your home (or local branch) at no extra cost.
- Mobile Phone Insurance
- Covers all mobile phones – including your iPhone.
- Up to £1,250 replacement value – if your mobile is lost or stolen, or can’t be repaired.
- Unauthorised calls cover – up to £2,500 for monthly contracts and up to £100 for pay as you go customers.
- Covers up to four mobile phones.
Cover starts 7 days after registration.
- European Car Breakdown Cover with Green Flag
Can't start your car in the morning or broken down anywhere in Europe? Relax, Green Flag is there to help.
- Roadside assistance anywhere in Europe, even on your driveway (For European trips outside the UK, cover will not apply for vehicles over 10 years old at the beginning of the trip).
- If we can’t get you back on the road we’ll make sure you’re not stranded – we’ll arrange alternative transport or provide up to £500 for accommodation.
- 24 hour assistance 365 days a year.
- Covers all cars registered to you at your address.
- Identify Theft Assistance
Protection against the threat of identity theft.
- Monitor your credit status with Experian, a market leader in credit information, and receive updates if anything changes.
- Track the uses of your personal details online – and receive alerts if anyone is using them.
- If the worst happens, a dedicated caseworker will help you restore your identity.
For joint accounts, both account holders must register to use this benefit.
- Card Protection
If any of your cards are lost or stolen, you're covered for up to £20,000 where your card issuer deems you liable. One call to our reporting facility will stop all cards from further use. You don’t have to register for this benefit, but it will help to cancel lost or stolen cards more quickly if you have already registered them before they go missing.
- Emergency cash
Lost your card or had it stolen? Call us anytime and we'll give you a code to withdraw up to £300 from your bank account - without a card – from any of our UK cash machines. You need to have enough money in your account to cover the withdrawal.
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.
- Home Emergency Service
A burst pipe or an electrical fault? Give us a call, day or night – we’ll put you in safe hands and pay for emergency works up to £750 for each callout. Includes your main residence and any second home that you own in the UK. Exclusions apply such as boilers over 10 years old exceeding 75Kw output.
- Black Tickets Service
Receive 25% cashback on tickets for theatre, dance, opera, concert performances and more throughout the UK. Order up to six tickets through the booking service for each event, up to four bookings a year.
- 24/7 Black Concierge Service
A table for two at a top New York restaurant. Tickets for major sporting events in London. Your Concierge could save you time – and help find you alternatives that offer you great deals.
- Private Black Credit Card
Available to Black Account holders only, this rewarding card can be used at millions of outlets worldwide.
- YourPoints – earn rewards that you can redeem for shopping vouchers, travel and much more.
- Great offers – special lifestyle, travel and shopping offers.
Representative Example:
Representative 14.9% APR (variable) based on an assumed Credit Limit of £1,200. Standard interest rate for purchases: 14.94% p.a. (variable)
Please note: In the Representative Example we have used an assumed credit limit of £1,200. The actual credit limit assigned to individual accounts will vary depending on our credit assessment of you.
Over 18s only.
- Preferential savings rates
- Banking Offers
From time to time we will have Banking Offers for Black Account customers. These could include:
- Mortgage offers - and deals on personal loans.
- Will writing service – make sure your finances are in order for the future with a discount on our usual will writing fees.
- Personal tax service – our professional, personal tax service will save you time completing your own tax return, and you can enjoy a discount on the normal fee.
- Share dealing – access discounts on commission for buying and selling UK and international shares.
- Car and home insurance – save money on your first year’s premium (car insurance is subject to a minimum premium).
Your home may be repossessed if you
do not keep up repayments on your mortgage
| Account benefit | Save up to |
|---|---|
| 5 Star Defaqto rated Worldwide multi-trip Travel Insurance | £160 |
| Worldwide Airport Lounge Access | £250 |
| Black Travel Service | £239 |
| Travel Money | £20 |
| Black Tickets Service | £73 |
| 24/7 Black Concierge Service | £90 |
| European Car Breakdown Cover | £147 |
| Home Emergency Service | £144 |
| Mobile Phone Insurance | £311 |
| Identify Theft Assistance | £160 |
| Card Protection | £20 |
| Total value | £1614 |
| Annual fee (A monthly fee of £24) | £288 |
| Save up to | £1326 |
How we worked out the potential savings
5 Star Defaqto rated Worldwide multi-trip Travel Insurance
Saving based on annual multi-trip worldwide family NatWest Travel Insurance with winter sports cover worth up to £160 and no pre-existing medical conditions, provided by U K Insurance Limited (February 2012).
Worldwide Airport Lounge Access
Saving based on cost of annual Airport Angel Platinum membership with unlimited visits and 10 texts (February 2012).
Black Travel Service
Saving based on a 11 night holiday for two people to Cyprus, departing from London Gatwick on 15 May 2012 and staying 11 nights at the 4* Cypria Maris on an All Inclusive basis. Holiday price is £1,790 – customer receives £179 discount off the holiday price plus complimentary in-flight meals (£15 per person) and 5kg extra luggage allowance (£15 per person) as part of the Thomas Cook Style collection offering. Total saving for the holiday is £239 (February 2012).
Travel Money
Saving based on preferential exchange rates, 0% commission and complimentary home delivery for: one short break with £400 currency (worth £2 + £5 saving on home delivery); and one holiday with £800 of currency and £300 of commission free travellers’ cheques (worth £10+ £3 saving on Sterling travellers’ cheques commission) (February 2012).
Black Tickets Service
Saving based on 25% cash-back on four tickets for We Will Rock You at the Dominion Theatre, London on 14 April 2012 at a cost £162.00 (cash-back £40.50) and 25% cash-back on two tickets for The Heineken Cup Final at Twickenham, London on 19 May 2012 at a cost of £131.60 (cash-back £32.90) total saving - £73.40 (February 2012).
24/7 Black Concierge Service
Saving based on use of two Concierge services per year at a cost of £45 a service (February 2012).
European Car Breakdown Cover
Saving based on Green Flag Euro Plus Cover for a 40 year old male, living in Leeds, driving a 2003 Ford Fiesta – £147.34 (February 2012).
Home Emergency Service
Saving based on Home Emergency providing £750 cover (including VAT) worth up to £144. Based on Policyholder age 49, living in a three bed semi, built between 1946 -1979, in EH49 6QG. Based on property being mortgaged or owned own permanent residence with up to five occupants (February 2012).
Mobile Phone Insurance
Saving based on the Vodafone Cover Me plan at £12.99 per month (February 2012).
Identify Theft Assistance
Saving based on Experian credit report monitoring (£95.88), Online Garlik DataPatrol (£45.00) and CPP’s helpline and advice service (£20) (February 2012).
Card Protection
Saving based on an annual cost of a standalone policy with CPP (February 2012).
This is a summary of the rates and charges that apply to NatWest current accounts.
For full information, download:
For more information on our insurance benefits please refer to:
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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 | Account fee |
|---|---|
| Black Account | £24 per month. |
Application of account fees
The account 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.
| Type of current account | Amount | Gross Rate % | Net Rate % | AER% |
|---|---|---|---|---|
| Black Account | £25,000 | 0.5 | 0.5 | 0.4 |
| £10,000 - £24,999 | 0.25 | 0.25 | 0.2 | |
| £1,000 - £9,999 | 0.1 | 0.1 | 0.08 |
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.
1. Arranged overdrafts
If you have arranged an overdraft facility with us in advance and you use this facility within the interest free thresholds, 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 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 costs of the kind described 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 (674KB 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, the interest free thresholds 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 |
|---|---|
| Black Account | £500 |
Current rates
The following rates are effective from 04 July 2011.
| Type of current account | Nominal monthly rate % | Nominal annual rate % | EAR % |
|---|---|---|---|
| Black Account | |||
| All amounts | 1.16 | 13.96 | 14.89 |
Representative Example:
Overdraft limit: £1,200
Arrangement Fee: £0
Interest Rates 14.89% p.a. (variable)
Account Monthly fee: £24
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 01 February 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 Current Account Fees, Charges & Interest Information for details of these charges).
Arranged overdrafts – arrangement and renewal fees
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) | |
|
|
| 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.
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).
The fee for a Black Account is £24 a month. Black Account is a packaged service of which the core element is a current account without which the remainder of Black Account benefits are unavailable. Over 18s only. Calls may be recorded. Information correct as at 4 July 2011.
To apply for a Black Account your annual income must be at least £100,000, or £150,000 joint annual income for a joint account, or you must have savings of at least £50,000 with us. To qualify for and retain the Black Account, your salary (or equivalent) must be mandated to your Black Account.
The examples are for illustration purposes only and are not based on actual NatWest customers.
The savings shown are representative of those that can be achieved by holding a Black Account in comparison to a Select Account. Full details of all benefits and how to access them will be available in your Black Account handbook. For further details on our insurance products, please refer to your insurance policy summaries.
Important Information – Black Account Guarantee
If you opened your Black Account on or after 4 July 2011, you are eligible to benefit from our Black Account Guarantee.
If you use any of the Black Account benefits within 60 days of your account being opened and are not satisfied within that 60 day period, we will refund all account fees you have paid for your Black Account in the first 60 days of account opening.
We may change or withdraw the Black 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. Max call charge from a BT landline is 8p plus up to 6p per minute. Calls from other networks may vary. Calls may be recorded.
Please also read our website terms and conditions which cover your use of this website.
5 Star Defaqto rated Worldwide multi-trip 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.
Worldwide Airport Lounge Access
This service is provided by Airport Angel Service, Holgate Park, Holgate Road, York YO26 4GA. Registered in England & Wales No. 2389644. A member of the CPP Group of companies.
Black Travel Service
This service is operated by Thomas Cook Travel Ltd, ABTA 29653, acting as agent to ATOL protected tour operators.
Black Tickets Service
This service is administered on behalf of NatWest by Affinion International Limited. Company Number: 1008797.
24/7 Black Concierge Service
This service is administered on behalf of NatWest by White Concierge Limited, Worldwide House, Thorpe Wood, Cambridgeshire PE3 6SB.
European Car Breakdown Cover
European Car Breakdown Cover is underwritten by UK Insurance Limited. UK Insurance Limited is authorised and regulated by the Financial Services Authority. Registered No. 1179980. UKI is a Royal Bank of Scotland Group Company.
Home Emergency Service
Home Emergency cover is underwritten by UK Insurance Limited. UK Insurance Limited is 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.
Card Protection
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.
The card that helps you earn great rewards
Available exclusively to Black Account customers, the Private Black Credit Card rewards you every time you make a qualifying transaction.
Over 18s only. Representative 14.9% APR (variable).
Earn 1.25 NatWest YourPoint for every £1 you spend on qualifying purchases
These points can then be exchanged for a huge choice of rewards from flights and holidays, shopping vouchers, or even spa experiences or theatre nights.
Simply register online and then redeem your points at our wide selection of partners, including:
Other account options
You can apply for a Black Account if you earn at least £100,000, or £150,000 joint annual income for a joint account, or have savings of at least £50,000 with us.
If you don’t meet these criteria, we offer a wide range of other current accounts.
Get in touch
Become a Private Banking customer
Existing customers
0845 305 0600*
*Minicom 0845 900 5961. Max call charge from a BT landline is 8p plus 4p per minute. Calls from other networks may vary.
Calls may be recorded.