Part of our NatWest Bank UK — Complete Guide 2026 hub.
NatWest is one of the UK’s largest banks, serving around 19 million personal and business customers. It is part of the NatWest Group (which also owns Royal Bank of Scotland and Ulster Bank) and remains a major presence on the UK high street, though — like most high-street banks — its branch network has shrunk considerably over the past decade.
In 2026, NatWest offers a competitive mobile app and a Reward current account that pays customers for banking behaviour — but its overdraft rates remain high and its savings offerings are rarely best-buy.
The Short Answer
NatWest is a reliable, full-service bank with strong app banking and a useful Reward account. It suits those who value branch access, a well-known brand, and a solid all-round current account. It is not the best choice for people prioritising savings rates, low overdraft costs, or fee-free international spending.
NatWest Current Accounts (2026)
| Account | Monthly fee | Key benefit |
|---|---|---|
| Select | Free | Standard current account, no extras |
| Reward | £2/month | Rewards for Direct Debits and app login, plus partner-retailer offers |
| Reward Silver | £10/month (rising to £12 from 1 Oct 2026) | European travel insurance + mobile phone insurance |
| Reward Platinum | £22/month (rising to £23 from 1 Oct 2026) | Worldwide family travel insurance + UK breakdown cover + phone insurance |
| Student | Free | 0–3 years interest-free overdraft |
| Graduate | Free | Tapered overdraft post-university |
Premier Reward Black (£36/month, rising to £39 from 1 Oct 2026) also exists, but is restricted to NatWest Premier Banking customers who meet income or savings thresholds — it is not a generally available account.
NatWest Reward Account — Is It Worth £2/Month?
The Reward account doesn’t pay a flat cashback percentage. As of September 2026, NatWest’s own terms describe the rewards as:
| How you earn | Reward |
|---|---|
| 2 or more active Direct Debits of at least £2 each | £4/month |
| Logging into the NatWest mobile app | £1/month |
| Spending at partner retailers (offers change roughly every 2 weeks) | Variable — check the app |
To qualify, you must pay in at least £1,250 a month to an eligible NatWest account. For most customers who meet the Direct Debit and app-login conditions, the £5/month in Rewards more than covers the £2 fee — effectively free banking plus a small net gain, before any partner-retailer offers. For those who don’t meet the pay-in or Direct Debit requirements, the free Select account is better value.
Mobile App and Online Banking
NatWest’s mobile app is consistently well-rated on both iOS and Android:
| Feature | Available |
|---|---|
| Instant payment notifications | ✅ |
| Card freeze/unfreeze | ✅ |
| Spending categories | ✅ |
| Savings pots | ✅ (Savings Goals) |
| Biometric login | ✅ |
| Credit score view | ✅ (via ClearScore integration) |
| Open banking connections | ✅ |
| Joint account management | ✅ |
The NatWest app does not match the UX polish of Monzo or Starling but is considerably more functional than older banking apps.
Savings Rates
NatWest savings rates are generally below best-buy. Rates checked against natwest.com in September 2026 — always confirm the current rate before opening, as these change with notice:
| Account | Type | Rate (September 2026 — confirm current) |
|---|---|---|
| Flexible Saver (formerly Instant Saver) | Easy access | Tiered: 1.00% AER on £1–£24,999, rising to 2.10% AER on £250,000+ |
| Digital Regular Saver | Monthly savings (£1–£150/month) | 5.25% AER on the first £5,000, then 1.00% AER above that |
| Fixed Term Savings (1 year) | Fixed term | 4.11% AER for £1–£99,999; 4.20% AER for £100,000+ |
| Cash ISA | Tax-free | Confirm current rate at natwest.com |
For best-buy savings rates, compare providers via Best Easy Access Savings Accounts UK.
Fees and Charges
| Charge | Rate |
|---|---|
| Select account monthly fee | Free |
| Reward account fee | £2/month |
| Reward Platinum fee | £22/month (rising to £23 from 1 Oct 2026) |
| Arranged overdraft | ~39.9% EAR |
| Foreign transaction fee | 2.75% |
| Foreign ATM fee | 2.75% |
| CHAPS payment | ~£21–£23 (confirm current fee) |
NatWest’s ~39.9% EAR arranged overdraft rate is among the highest charged by any UK high-street bank — broadly similar to HSBC, Barclays, and Lloyds. For anyone who regularly uses an overdraft, this is a significant cost.
Branch and ATM Network
NatWest’s branch network, like most UK high-street banks, has shrunk substantially over the past decade:
| Feature | Detail |
|---|---|
| UK branches (NatWest Group total: NatWest + RBS + Ulster Bank) | 336, as of a June 2026 NatWest Group announcement, with no further closures planned until at least 2029 |
| ATM network | Extensive — free at all NatWest and RBS ATMs |
| Banking hours | Vary by branch — check natwest.com’s branch locator before visiting |
| In-branch services | Full banking, mortgages, investments |
NatWest Group’s combined branch count (across all three of its brands) had fallen to 336 by mid-2026, down from many hundreds in previous years — a much smaller network than NatWest maintained a decade ago. NatWest Group has committed to no further branch closures until 2029. For customers who value branch access, it’s worth checking whether your nearest branch is still open before choosing NatWest for that reason alone.
Who Is NatWest Best For?
| Profile | Verdict |
|---|---|
| People who want branch access | Good, but check your local branch hasn’t closed — the network has shrunk significantly |
| Households with 2+ qualifying Direct Debits and regular app use | Good — Reward account can break even or profit |
| Students | Good — generous student account |
| Frequent international travellers | Poor — 2.75% foreign fee; use Starling instead |
| Savers seeking best rates | Poor — savings rates rarely competitive |
| People who use their overdraft regularly | Poor — ~39.9% EAR is very high |
Pros and Cons
Pros:
- Well-regarded mobile app
- Reward account rewards can exceed the £2/month fee for qualifying customers
- Full range of financial products (mortgages, ISAs, loans)
- FSCS protected up to £120,000 (raised from £85,000 on 1 December 2025)
- Digital Regular Saver’s introductory rate (5.25% AER on the first £5,000) is competitive
Cons:
- ~39.9% EAR overdraft is very high
- Foreign transaction fees (2.75%) make it expensive abroad
- Savings rates outside the Digital Regular Saver introductory tier rarely market-leading
- Branch network has shrunk considerably (336 branches across NatWest, RBS and Ulster Bank combined as of mid-2026)
- Customer satisfaction lags First Direct, Monzo, Starling
Overall Verdict
NatWest is a solid mainstream bank — better than its reputation in some areas (app quality, the Reward account’s Direct Debit and app-login rewards), worse in others (overdraft costs, international fees, a shrinking branch network). For a primary account in 2026, it is a reasonable choice for those who want a full-service bank with a decent app. It is not the best choice for anyone optimising for savings rates, low fees, international spending, or guaranteed branch access.
Rating: 3.5/5
Best for: Digital-plus-branch banking, households with 2+ qualifying Direct Debits.
Consider instead: Starling Bank (free, better UX, fee-free abroad) or First Direct (best customer service).