Am I eligible for First Saver?
You need to be aged 18 or over, and be opening the account in trust for a child who is under 16 years old
Both you and the child need to reside in the UK
You need to have a NatWest current account
Opening a First Saver:
You'll need to take a picture of the child's ID, for example their passport or birth certificate, when applying for this account. See full list here
You'll need to confirm your email address and mobile number to open the account.
You can open and manage the account on our mobile app, online or by telephone.
To open in branch, you must bring your own digital device such as a mobile or tablet, so our staff can assist you in opening the account.
There is no minimum deposit required to open the account; no minimum deposit needs to be made on a regular basis; and there is no maximum balance limit.
We can only take instructions from you, the adult trustee, on the account. We cannot take instructions from the child.
You can use Round Ups with First Saver.
When the child is 16 years old (if your address is in Scotland), or 18 years old (if your address is elsewhere in the UK) they will be legally entitled to the money in the First Saver account.
At that age, you should make your own arrangements to transfer the account into the child's name so they can access the money.