NatWest

NatWest is one of the best known banks on the UK high street, offering current accounts, savings, mortgages, credit cards, loans and insurance to personal customers, plus business banking through its Mettle and Tyl brands. Most people interact with it through the NatWest app and Online Banking, which are available to customers aged 11 and over, and it remains a large branch and telephone bank as well¹. Its mortgages are available to over 18s and its adult current accounts to UK residents aged 18 and over².

The bank behind the brand is National Westminster Bank Plc, authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority, with firm reference number 121878⁴. It appears on the Bank of England's list of UK-incorporated banks authorised to accept deposits⁵. Money held with NatWest is protected by the Financial Services Compensation Scheme, but that protection is shared across the NatWest Group brands, so it does not multiply if you also bank with Ulster Bank or Mettle⁶.

What NatWest offers

NatWest's core products for personal customers are current accounts, savings accounts, mortgages, credit cards and loans, alongside insurance arranged through its banking app. Its current account range runs from a fee-free everyday account through to packaged accounts with monthly fees and reward schemes, and a Premier tier for customers who meet income or savings thresholds. Its credit card range includes the NatWest Reward and NatWest Reward Black cards, which earn rewards on spending in return for an annual fee⁸.

On the savings side, NatWest offers accounts across the main types described in our savings guide, including easy access and fixed term accounts, and cash ISAs. Its sister brand Ulster Bank, part of NatWest Group, serves customers mainly in Northern Ireland and offers its own current accounts, savings accounts such as its easy access account, and the Ulster Bank Adapt account for younger customers⁶. Where NatWest sells insurance, the cover is provided by insurers rather than being underwritten by the bank itself, and the policy documents name who provides the cover.

NatWest also lends for home buying and remortgaging, and provides business banking, merchant services through Tyl, and the prepaid Rooster Card for children aged 6 to 17 under the NatWest Rooster Money name⁴. This page covers each product area in turn, then how to bank with NatWest, how to complain, and how your money is protected.

NatWest mortgages: what is and is not on offer

NatWest lends for residential purchases, remortgages and second homes, but several product types are absent from its range. It states it does not currently offer tracker mortgages or discount variable rate mortgages, and it does not offer a dedicated renovation mortgage product⁹. Self build properties are excluded from its mortgage lending altogether¹⁰. It also does not currently offer mortgages into retirement age for new or existing customers, so a mortgage must be paid in full by your intended retirement age, and the maximum age at repayment for a residential interest only mortgage is 70¹⁰.

For existing customers, NatWest offers a switch service that lets you move to a new rate without a full remortgage. You can switch online if your current deal is nearly finished, has ended and you are on the Standard Variable Rate, you are on a tracker rate and want a fixed rate, or you are happy to choose a product without advice. As long as you keep the same mortgage amount, term and repayment type, there are no new credit or affordability checks¹¹. Tracker customers can switch to any NatWest fixed rate product without paying an early repayment charge, subject to criteria and availability, and customers on the Standard Variable Rate or a Lifetime Tracker can overpay any amount with no limits and no charges¹¹.

Deposits start small: NatWest says some mortgages are available with a 5% deposit, though you might need to save at least 10% of the property's value for others¹⁰. An Agreement in Principle from NatWest will not impact your credit score¹². When remortgaging to NatWest, the bank states you will generally not have to pay legal, valuation or admin fees, though a valuation fee may be payable in some circumstances¹³. NatWest has also said it is exploring electronic signing of mortgage deeds through its partnership with Pexa, which would remove the need for a witness, though this is not yet its standard process. Our mortgages guide explains how these product types work and how credit scores affect what you are offered.

Using a gifted deposit for a NatWest mortgage

A gifted deposit is money given to a homebuyer to help them buy a property¹⁴. NatWest allows gifted deposits from third parties, including friends, and currently has no maximum gifted deposit limit, so a gift can cover any percentage of the total deposit within a purchase¹⁵. The key condition is repayability: gifts from third parties are only accepted if they are not repayable. If a gift is repayable, the repayment details must be outlined in the letter from the gifting party, and they will then be included in NatWest's affordability calculations¹⁵.

NatWest requires a signed letter or email, with no signature needed for an email, from the gifting party confirming whether the gift is repayable or non-repayable¹⁵. You can use multiple gifts towards your deposit, but you will need information about the source of each gift and an individual gifted deposit declaration for each sum¹⁵. What you cannot do is fund the deposit with an unsecured repayable loan, including one from a bank or other financial institution¹⁵.

Independent guidance confirms the same practical point: if your deposit was given as a gift, you will need a letter from whoever gave you the money¹⁷. Getting this letter ready before you apply avoids delays, because the lender will ask for it as part of checking where your deposit comes from. Our home buying guide covers the full deposit and conveyancing process.

Buy to let and second home mortgages at NatWest

NatWest lends on second homes, with a minimum deposit of 10% of the property's value, meaning a maximum 90% loan to value mortgage. It does not offer 95% LTV residential mortgages on second homes¹⁸. Subject to affordability and other eligibility, you may be able to have more than one residential mortgage with NatWest¹⁸. One restriction matters for holiday buyers: a second residential mortgage on a holiday home cannot be used if you plan to rent the property out, and NatWest says you would need to apply for a commercial loan instead¹⁸.

Buy to Let works differently. NatWest only provides Buy to Let mortgages online for small portfolio landlords, and it does not provide advice on Buy to Let mortgages at all¹⁹. If you are not a small portfolio landlord, or you want to apply with a mortgage professional, NatWest Buy to Let mortgages are available via mortgage brokers¹⁶. Rental income usually needs to cover a set percentage of your monthly mortgage payments, and NatWest will not lend a mortgage loan on a property that is already mortgaged unless you are switching to it as part of a remortgage¹⁸.

Current accounts and switching

NatWest's everyday current account is free of monthly fees, and its packaged accounts add rewards and perks in exchange for a monthly fee²¹. The Reward Platinum account, for example, is only open to existing current account customers²². Switching your banking to NatWest uses the standard process described in our current accounts guide: your balance, payments and Direct Debits are moved across, and NatWest states that arranged overdrafts are not automatically redirected, so you need to speak to it first if you want one on the new account²¹.

NatWest has run switching incentives in the past, and these come with eligibility rules worth checking before you plan around them. Independent reporting has found that NatWest's incentives have not been available to people who had received a previous reward from NatWest since July 2022²³. Switching offers change frequently, so treat any advertised amount as a bonus rather than a reason to switch, and check the terms on NatWest's own site for today's figures. Our guide to switching your bank account explains the Current Account Switch Service guarantee and what happens to your old account.

NatWest Premier: who can get it

NatWest Premier is the bank's higher tier of banking, with its own accounts and support. Eligibility is based on meeting a minimum threshold, and NatWest's own pages describe this in two ways: a minimum income, borrowings or savings requirement, and, in its Premier switching pages, minimum income or savings levels paid into or held with the bank²¹. Because the documents describe the thresholds differently, check the current criteria on NatWest's site before applying.

The Premier Reward bank account earns at least 1% back at partner retailers when you use your NatWest debit card²⁴. NatWest has advertised a welcome bonus for new Premier switchers who did not already hold a NatWest current account on a specified date, with terms and conditions applying²⁴. As with all switching incentives, the amount and conditions change, so confirm them directly with NatWest.

Overdrafts: arranged and unarranged

An arranged overdraft is an agreed limit that lets you spend a bit more money than you have in your current account. An unarranged overdraft is when you spend more than you have without having arranged a limit, or you exceed your existing limit²⁵. NatWest does not charge fees for using an arranged overdraft, only interest on the amount you use, and the interest rate depends on the type of current account you hold²⁶. Overdrafts are a form of borrowing and are repayable on demand, and they are subject to eligibility, which includes not having been bankrupt in the last 6 years²².

Overdraft interest is high compared with other borrowing, and debt charities describe overdrafts as carrying high interest and charges²⁷. If you are regularly using your overdraft, free help is available: StepChange explains ways to stop living in your overdraft, and our debt guide sets out the free debt advice options and your rights. Because an arranged overdraft is not transferred automatically when you switch, speak to NatWest before switching if you rely on one²¹.

Fees and charges for everyday services

NatWest's everyday current account carries no monthly fee, and its packaged accounts charge a monthly fee in return for rewards and perks²¹. Its credit cards work the other way round: the standard card range has no annual fee, while the Reward card charges an annual fee in exchange for rewards on spending⁸. NatWest's site sets out the current figures for each account and card, and they change from time to time, so check them there before applying.

A few charges apply across the range. A banker's reference costs £10 for each request²⁵. On the mortgage side, NatWest warns that charges may apply to overpayments on some products, and a set-up fee may apply to additional borrowing by existing customers⁹. Money advances on a credit card, which include buying foreign currency and gambling-style transactions, carry a money advance fee of 3%²⁸. For remortgaging, NatWest states there are generally no legal, valuation or admin fees, though a valuation fee may be payable in some circumstances¹³.

NatWest credit cards

NatWest's credit cards are Mastercards, and the range includes the NatWest Reward card, which earns rewards you can bank, exchange for a retailer voucher, or donate to charity⁸. The NatWest Reward Black card sits above it in the range. You can pay your credit card bill by Direct Debit, in the NatWest app, through Online Banking, or from another UK bank account using Open Banking⁸.

Two things to know about how the cards charge. Money advances, which include some purchases treated like cash, carry a 3% fee²⁸. And buying cryptocurrency on a credit card falls into this category, so it is an expensive way to hold a volatile asset with borrowed money. Our credit cards guide explains how interest and fees work across the market, and how Section 75 protects purchases over £100 and up to £30,000.

Banking with NatWest: app, online and phone

The NatWest app and Online Banking are available to customers aged 11 and over with a compatible iOS or Android device and a UK or international mobile number in the countries NatWest lists¹. Through the app you can check your balance, make transfers and review transactions at any time, and you can make contactless payments with Apple Pay or Google Pay¹. NatWest International offers a separate mobile app for its own customers, also available to Online Banking customers aged 11 and over, with the same round-the-clock access¹.

Telephone banking is available for adult account applications and general enquiries on 03457 888 444, Monday to Friday 8am to 8pm and Saturday 9am to 3pm, with Relay UK support on 18001 03457 888 444³. NatWest also publishes a Relay UK number of 18001 0800 096 9527 for mortgage enquiries⁹. NatWest retains a branch network across the UK, though like all banks it has been reducing it, so check the NatWest site for your nearest branch before travelling.

Opening an account: age and identity checks

For most NatWest current accounts you need to be aged 18 or over and a UK resident³. Child and teen accounts are available from age 11 to 17, and children under 11 can instead get a prepaid Rooster Card for ages 6 to 17 under NatWest Rooster Money³. Applicants aged 16 to 17 who cannot prove their identity and address with their own documents need to apply with a parent or guardian who has a NatWest current account, and if you share the same surname, your parent's or guardian's address verification can be used; otherwise proof of relationship documents are needed³.

For adult applications, NatWest asks for photo ID, such as a driving licence, passport or EU ID card, uploaded with a selfie via a device with a camera, and proof of address may also be needed. The identity check is carried out by Mitek, NatWest's security partner³. Birth and adoption certificates are accepted from the General Register Office for England and Wales, National Records of Scotland, or the General Register Office for Northern Ireland, so the same rules apply across the three nations³. If you cannot get a standard account, a basic bank account may be an option.

Scams and fraud: what NatWest will never ask

NatWest sets out clear rules for spotting a scam in its name. It will never ask you to call a number in a text message to confirm or cancel payments, and it will never ask for your full PIN, full password or card reader codes by text, email or on the phone⁷. It also says never to share passwords, One Time Passcodes, Get Cash codes or banking details by text, because genuine organisations will not ask for them⁷. On the phone, the same logic applies: a genuine organisation will never ask you to transfer money to a 'safe' or 'secure' account, and it will never ask you to download a program that lets someone see your device³⁰.

These rules match the official guidance. MoneyHelper states that your bank, the police and regulators will never ask you to move money to a 'safe' account³¹, and the FSCS adds that it would never ask you for money³². If you receive a suspicious text referring to NatWest, forward it to 88355 and block the sender; this is not a premium rate number and standard network rates apply⁷. If you have shared details or paid a scammer, contact NatWest immediately on 03457 888 444, or 18001 03457 888 444 for Relay UK⁷. For an unrecognised card payment, report the transaction through the 'Report a dispute, fraud or scam' link in the app or Online Banking²⁹.

Our scams and fraud guide explains the main scam types and what to do after money has left your account, including the rules on refunds for authorised push payment scams.

Complaints: how to raise one

NatWest takes complaints through its support channels, including by phone. For personal account complaints the UK number is 03457 888 444, or +44 3457 888 444 from overseas, and credit card complaints have a separate overseas number, with a Minicom service on 0370 154 1192³⁴. You can also raise a complaint in the app, Online Banking or in a branch.

If NatWest cannot resolve your complaint, or you are unhappy with its final response, you can take it to the Financial Ombudsman Service, the free and independent body that rules on disputes between consumers and financial firms. Our consumer protection guide explains how the ombudsman process works and the time limits that apply.

FSCS protection: shared across NatWest Group brands

Money held with NatWest is protected by the Financial Services Compensation Scheme, the UK's deposit protection scheme. The protection applies at firm level and is shared across brands under the same authorisation³⁵. In practice this matters for NatWest customers: Ulster Bank is part of NatWest Group, and any money held with National Westminster Bank Plc, NatWest Premier, Ulster Bank and Mettle counts towards one combined protected total⁶. Holding savings with both NatWest and Ulster Bank does not give you two separate protections.

The FSCS provides an online protection checker so you can confirm which of your accounts share a licence³⁵. Sister brands within the group, such as Ulster Bank, are covered on their own pages, including the Ulster Bank brand page. If a bank were to fail, the FSCS would compensate eligible depositors up to the scheme limit, and our consumer protection guide explains how the scheme works and where its cover stops.