NatWest review
Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026
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Our verdict
NatWest suits UK students, teenagers and travellers who want everyday banking with no running charges and an easy-access saver alongside it. The current account monthly fee is £0, and the saver pays 1% on a variable basis, which is modest for emergency cash.
Key facts
- Best for
- A UK everyday account and easy-access saver with no monthly fee for students, teens and travellers.
- Monthly fee
- £0↗
- Deposit protection
- FSCS up to GBP 85,000↗
- Currency conversion fee
- 3.25%↗
- Local account details
- IBAN, UK-sort-code↗
- Free ATM withdrawals
- £0↗
- Transfer fee
- No fee for sending an international payment online; optional 10 GBP charge to cover foreign bank handling fees↗
- Legal entity
- National Westminster Bank plc↗
- Headquarters
- United Kingdom↗
- Founded
- 1968↗
- Support channels
- Phone, Chat, Help-centre↗
- Audience
- Students, Teens, Travelers
- Pricing model
- No monthly fee
- Features
- Free ATM withdrawals, Joint account
- Official website
- natwest.com
Savings
Pros and cons
Pros
- A monthly fee of £0 and a cash machine charge of £0 keep everyday banking free to run.
- Deposits are covered by FSCS up to GBP 85,000, so a larger balance can sit with a supervised bank.
- The saver pays 1% at a variable rate with a minimum deposit of £0.
- Help runs on phone, chat and help centre, and UK payments use an IBAN and a sort code.
Cons
- The currency conversion charge of 3.25% is heavy, leaving NatWest at 288 of 312 brands on that measure against a site median of 0.5%.
- The saver pays 1% at a variable rate, under the 3% recorded across the site.
- Support runs on phone, chat and help centre only, without a community forum in the list.
Who it suits
- Students and teenagers in the UK opening a first account, since the monthly fee is £0
- Travellers sending euros to SEPA countries, where delivery is the same business day, with a waiting period for other currencies
- Savers who want easy access, since the balance is easy access and money can be taken out whenever it is needed
Who should look elsewhere
- Frequent currency converters, since the 3.25% charge on foreign currency outweighs the €0 monthly fee at bunq and bunq Spain Bank Account
- Savers chasing a fixed return, because the variable rate of 1% can be revised, and euro rivals such as Pixpay FR at €3.99 a month sit in a different tier
Safety of your money
The account is run by National Westminster Bank plc, a bank rather than an e-money wallet, and it is supervised in the UK by the Prudential Regulation Authority and the Financial Conduct Authority. Deposits are covered by FSCS up to GBP 85,000, so a larger balance can sit here without any separate charge for holding it.
Rates and terms
Savings pay 1% on a variable basis, so the return can be revised rather than locked for a term. The balance is easy access and needs a minimum deposit of £0, and money comes out whenever you ask, through online banking, the mobile app, in branch or by telephone, with no withdrawal charges.
How NatWest compares
9.2 vs 8.7
9.2 vs 8.6
9.2 vs 8.0
9.2 vs 8.9
9.2 vs 9.1
9.2 vs 9.2
9.2 vs 8.7bunq Spain Bank Account also charges a monthly fee of €0 and serves Spanish euro banking rather than the UK market.
9.2 vs 8.7
9.2 vs 8.7Pixpay FR charges €3.99 a month, so a euro account can cost more than NatWest.
9.2 vs 9.0
9.2 vs 8.7
9.2 vs 9.5
9.2 vs 9.4
9.2 vs 9.3
9.2 vs 9.2
9.2 vs 9.2
9.2 vs 9.2
9.2 vs 9.2
9.2 vs 9.2
9.2 vs 9.2
9.2 vs 9.1
9.2 vs 9.0
9.2 vs 9.0
9.2 vs 8.9
9.2 vs 8.9- 9.2 vs 8.9
9.2 vs 8.7
9.2 vs 8.5
9.2 vs 8.5
9.2 vs 8.5
9.2 vs 8.4
9.2 vs 8.3
9.2 vs 8.2
9.2 vs 8.1- 9.2 vs 8.1
9.2 vs 8.0
9.2 vs 8.0
9.2 vs 8.0
9.2 vs 9.1
Where NatWest is available
- Available
- United Kingdom
- Licence in United Kingdom
- Prudential Regulation Authority, checked September 26, 2026
- Licence in United Kingdom
- Financial Conduct Authority, checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
Is there a monthly fee to keep the account?+
The current account carries a monthly fee of £0, so running it costs nothing, and cash machine withdrawals also charge £0. Fees sit at the €0 level seen across the accounts listed here.
Who regulates NatWest and is the money protected?+
The Prudential Regulation Authority and the Financial Conduct Authority supervise the firm in the UK, and deposits are covered by FSCS up to GBP 85,000. The provider is National Westminster Bank plc, a bank, so the balance is held with a bank rather than an e-money wallet.
What rate do the savings pay?+
The saver pays 1% at a variable rate, so the figure can be revised rather than fixed for a term. That sits below the 3% recorded across the site, which makes it a place for short term cash rather than a long term tie up.
Can I get at my money quickly?+
It is an easy access balance. Money can be withdrawn whenever needed through online banking, the mobile app, in branch or by telephone, with no withdrawal charges, and the minimum deposit is £0.
What does it cost to send money abroad?+
Sending an international payment online has a transfer fee of £0, and an optional charge can be added to cover foreign bank handling fees. The currency conversion charge is 3.25%, and euros to SEPA countries arrive the same business day.
Who is this account aimed at?+
The listed audience is students, teenagers and travellers, so the account is pitched at younger customers and people who cross borders. Support runs on phone, chat and help centre, and UK payments use an IBAN and a sort code.
Can two people share it, and are cash machines free?+
The feature list covers free atm and joint account, so free cash machine withdrawals and a joint account are both included. On price, the monthly fee of £0 ranks 1 among 500 brands, while the 3.25% conversion charge ranks 288 of 312.
Sources
- en.wikipedia.org/wiki/NatWest checked September 26, 2026
Backs: Deposit protection, Founded, Local account details, Licences
“It was established in 1968 by the merger of National Provincial Bank and Westminster Bank.”
- natwest.com checked September 26, 2026
Backs: Audience, Headquarters, Legal entity, Support channels
“Student bank account ... Child & teen bank accounts ... Teen bank account (age 16-17) ... Travel account”
- natwest.com/banking-with-natwest/how-to/send-money-abroad... checked September 26, 2026
Backs: Delivery time, Currency conversion fee, Exchange rate markup, Payout methods, Transfer fee, Fee to send 1,000
“Euro payment to SEPA country Same business day ... Non-Euro payment 1-3 business days”
- natwest.com/current-accounts/select_account.html checked September 26, 2026
Backs: Features, Pricing model, Monthly fee
“Joint account”
- natwest.com/savings/flexible-saver.html checked September 26, 2026
Backs: Access terms, Account kind, Headline rate, Minimum deposit, Rate type
“With Flexible Saver instant access savings accounts, you can dip into your savings pot whenever you need to, without facing any additional charges.”
- natwest.com/search-results/locator.html checked September 26, 2026
Backs: Free ATM withdrawals
“You can withdraw money for free from our cash machines across the UK.”
Compiled from 6 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Licence type, Currencies.
Related by the facts
NatWest
A UK everyday account and easy-access saver with no monthly fee for students, teens and travellers.