Your account guide

Bank account vs savings accounts

Bank account vs savings account

It’s likely that your money is either sitting in a bank or savings account.

A bank account (also called a current account) supports everyday budgeting, while a savings account could help you to build a nest egg for the future. Dig into the key differences between a current account vs a savings account. And decide whether a NatWest account might be right for you.

Comparing bank and savings accounts

Bank account need-to-knows

A bank or current account helps you handle your day-to-day finances in one convenient spot. It’s a place to receive money, such as your monthly wage. And you can easily make payments or cover bills using a debit card, cheque, standing order or Direct Debit linked to the account.
For more information on bank accounts, check out our guides.

Savings account need-to-knows

A big difference between a savings account vs a current account is how often you access your money. The idea of a savings account is that it’s a pot of money you leave alone, gradually building up over time. You’ll also earn interest at an agreed rate. With some accounts, you can access your cash whenever you like. With others, you’ll need to stow it away for a fixed period. 

Considering a savings (or deposit) account?

Not an existing NatWest bank account customer?

No NatWest current account? No problem. Our Fixed Rate ISA or Fixed Term Saver Accounts are available to new and existing customers. Simply put your money aside for a set period and fix your interest rate. You’ll need a current account to access our other NatWest saving accounts.

Existing NatWest bank account customer?

You could apply online for a NatWest savings account either online or via or mobile app. Eligibility criteria applies.

Want to open a bank account instead?

At NatWest you can choose a basic, fee-free account that keeps everything simple, or one which rewards everyday spending.

Bank and savings accounts for under 18s

Kids and teens bank accounts

Teach your little ones the value of money with a current account that’s just for them. It’s easy to steer them in the right direction with tailored apps and cards too.

First Saver account

Set your kids on their saving journey with our instant access account for under 16s. It only takes £1 to get started and the free Pigbybank  should fire up young imaginations. It’s easy to withdraw funds, but just remember that your interest rate could change.