To apply, you must be 18+ and a UK resident. You also need to pay in £1,250 to an eligible NatWest account every month. You can only hold a maximum of 1 Reward account in a sole name and 1 Reward account in joint names.
Switch offer with Reward
£2 monthly fee.
- You could get £200 when you switch to Reward. T&Cs apply.
- £4 a month back in Rewards for paying 2 or more Direct Debits (must be worth at least £2 each).
- £1 a month back in Rewards with 1 mobile app log in.
- Earn from 1% back in Rewards at our partner retailers when spending with your NatWest debit card.
Earn Rewards
You could earn at least £5 a month in Rewards (that's £60 a year). See the monthly breakdown below:
How you can earn |
Monthly Rewards |
Direct Debits |
£4 |
Mobile app login |
£1 |
Partner Retailers |
From 1% |
As well as earning Rewards for having 2 Direct Debits at least £2 each (like your phone bill), you can earn even more Rewards at our partner retailers, like Caffe Nero. You can earn from 1% back on your purchases.
Your Rewards balance can grow quickly, they're easy to earn and easy to exchange. Redeem Rewards as money back into your current account, trade them up for eGift cards, or donate them to charity.
Arranged overdrafts
Arranged overdrafts allow you to spend more money than you have in your account to an agreed limit. An overdraft is a form of borrowing and is repayable on demand. It can be useful for short term borrowing.
We'll run a full credit check to determine your overdraft limit. If you don't repay what you borrow, you could harm your credit score and borrowing capability.
This account offers an overdraft facility (subject to eligibility). You can check if you're likely to be accepted for an overdraft using our eligibility tool.
There are two different types of overdraft:
- An arranged overdraft, which allows you to go overdrawn up to an agreed limit. This is the type of overdraft you could apply for here
- An unarranged overdraft. This is when you spend more money than you have in your current account without already having an arranged overdraft, or when you exceed your current arranged overdraft limit
We charge interest on both types of overdraft. Going in to an unarranged overdraft limit can lead to payments being rejected.
How much does my overdraft cost in pounds and pence?
As an example, the interest cost of using a £500 arranged overdraft is:
Time Period |
Interest Cost |
7 days |
£3.24 |
30 days |
£13.87 |
60 days |
£28.13 |
This is a specific illustrative example representing the interest cost of using a £500 arranged overdraft over periods of 7, 30 and 60 days.
Looking to understand the costs of an overdraft of more or less than £500 over different periods of time? Use our handy cost calculator.
How does our overdraft compare?
A good way to compare the costs of an overdraft is by using the APR, which shows the cost of borrowing over a year.
Representative Example: Effective Annual Rate: 39.49% EAR (variable). Representative APR: 39.49% APR (variable). Assumed credit limit: £1,200.
Switch to us and you could get £200
Available to new and existing customers who haven’t previously received a switch offer and didn’t hold a NatWest current account as of 06 May 2026.
Specific account eligibility criteria & conditions apply. Monthly account fees may apply. Offer T&Cs and restrictions apply. You are not eligible for this offer if you're switching a current account from NatWest Group (Royal Bank or Ulster Bank NI). This offer may be changed, replaced, or withdrawn at any time.
1. Open a current account and switch to us
- Apply for and open a Select or Reward account and request and complete a full switch to us from another bank using the Current Account Switch Service.
2. Within 60 days of switching
- Pay in £1,250 - This can be made of multiple payments and must remain in the account for 24 hours
- Log in to our mobile app - This can be done on any device that supports the NatWest mobile banking app.
3. You're all set
When you've met these conditions, we'll pay £200 into your eligible account within 30 days.
- Switch Offer T&Cs (PDF, 57KB)
- Current Account Switch Guarantee (PDF, 39KB)
- A Guide to Switching Current Accounts (PDF, 3MB)
Third Party Permissions:
If you have given permissions to Third Party Providers to make payments on your behalf, or to access your financial data, access to these services won’t be transferred automatically to your new account as part of the Current Account Switch Service.
Before you close your old account, check whether you have any Third Party Provider permissions set up and if so, who with.
Once your new account is open you can give your permission to the Third Party Provider to access your new account by providing them with your new account details. You will need to contact the Third Party Provider directly yourself to set this up.
If you are unsure as to whether we will support the Third Party Provider permissions on your account, you can contact us for further information and support.
Please check our account terms and conditions for more information about Third Party Providers.
Important information
Your Current Account Terms (PDF, 267 KB)
Financial Services Compensation Scheme Information Sheet (PDF, 70 KB)
Fee Information Document (PDF, 365 KB)
What You Need To Know (PDF, 370 KB)
It's important for you to understand how we use and share your information. Please read this short summary before you continue with your application.
As part of the checks that we will complete to verify your identity, we’ll take an image of your face so that it can be compared with your photo ID and this biometric data is captured.
Information Message
By continuing you're confirming you've been provided with, and have acknowledged our important documents, including the FSCS information sheet.