NatWest

Who they are

NatWest is one of the Big Four clearing banks in the UK, with a large network of over 526 branches and more than 3,400 cash machines across Great Britain. It serves more than 7.5 million personal customers and 850,000 small business accounts.

NatWest's beginnings can be traced back to 1658, but the bank as we know it today was formed in 1968 after the merger of National Provincial Bank and Westminster Bank. It has been part of NatWest Group since 2000, and between 2008 and 2025 the UK government held a stake in NatWest Group following a £45 billion bailout, before the bank returned to full private ownership on 30 May 2025 after 17 years.

NatWest holds its own banking licence and deposits are protected by the Financial Services Compensation Scheme (FSCS) up to £85,000 per person. Note that Royal Bank of Scotland (RBS) is a sister brand within the same group - if you hold money with both, your combined protection is still capped at £85,000.

Savings accounts

NatWest does not currently feature standalone savings accounts in our rate tables. When you do save with NatWest, it tends to be through accounts linked to a current account rather than through market-leading standalone products. If straightforward savings rates are your priority, you will generally find better options elsewhere - the live rate tables on this page are the clearest guide to what is currently worth opening.

Where NatWest can be interesting for savers is through its linked regular saver accounts, which come as part of its switch offers (more on that below).

Switching to NatWest

NatWest runs three current account switch offers, all using the Current Account Switch Service.

The Select Account pays a £200 cash bonus. To qualify, you need to switch using CASS, deposit £1,250 and log in to the NatWest mobile app within 60 days. There is no monthly fee. Switching also gives you access to a Digital Regular Saver with a bonus rate - check the NatWest site for the current figure.

The Reward Account also pays £200 to switch, but carries a £2 monthly fee. You need to deposit £1,250 and log in to the app within 60 days. After that, the account pays £5 cashback each month if you pay in £1,250 or more and maintain at least two direct debits of £2 or above - working out at a net gain of £36 per year once the fee is deducted. The linked regular saver here pays 5.25% variable on up to £150 per month, up to a maximum balance of £5,000. That rate is competitive for a regular saver and worth factoring into your overall return.

The Premier Current Account pays a £250 switch bonus and is aimed at higher earners. To qualify for Premier status you typically need a sole income of £100,000, a joint income of £120,000, or at least £100,000 in savings or investments held with NatWest. The linked saver here is a Digital Regular Saver with a 12-month fixed bonus rate, currently 7% AER on balances up to £5,000 with a maximum monthly deposit of £150. There is also a potential additional £750 bonus if you open a Flexible Saver funded with £100,000 within 60 days - making the total possible bonus £1,000 for Premier customers who can meet that threshold.

All three offers require you to complete the switch within a set window, so check the NatWest site for current deadlines before applying.

What to think about

Reviews of NatWest's mobile app are mixed - customers praise the convenience and ease of use, but also express frustration when the app experiences outages. Issues like service errors, login problems, and lack of access during outages are highlighted as areas needing improvement. It is a fair summary of a big high-street bank: the infrastructure is substantial, the branch network is genuinely useful, but the digital experience and customer service do not always match the standards set by newer challengers.

For savings-focused customers, NatWest is probably most relevant as a switching destination rather than a primary savings home. The switch bonuses are solid, especially for Premier customers, and the linked regular savers add real value on top of the headline cash payment. If you are already a NatWest customer, it is worth checking whether you are getting a competitive rate on your existing savings - the chances are the market has moved on.

As ever, the live rates shown on this page are the most reliable guide to what NatWest is currently offering and how it stacks up against the rest of the market.