NatWest's 2025 Secret: 1 Move That Could Cost You Big
Is NatWest the right bank for you? Our 2025 guide dives deep into NatWest's accounts, digital app, savings, and customer service to help you decide.
Eleanor Hayes
A personal finance expert dedicated to demystifying banking and investment for everyone.
Choosing a bank can feel like a monumental decision. It’s where your salary lands, where your savings grow (or stagnate), and the tool you use for everything from buying coffee to securing a mortgage. In the crowded UK banking landscape, household names like NatWest stand tall, but is a long-standing reputation enough to make it the right choice for your money in 2025?
With the rise of slick digital-only banks and ever-changing financial products, it’s easy to feel overwhelmed. You’re not just opening an account; you’re choosing a financial partner. You need one that’s reliable, secure, and equipped with the modern tools that make managing your money effortless, not a chore. NatWest has been a high-street staple for decades, but how has it adapted to the demands of the modern customer?
This guide is here to cut through the noise. We’ll take an honest, in-depth look at what NatWest offers today—from its everyday current accounts and digital banking app to its savings options and customer service. By the end, you’ll have a clear picture of its strengths and weaknesses, helping you decide if NatWest is the right fit for your financial journey.
A Quick Look at NatWest's History and Reputation
NatWest (National Westminster Bank) was formed in 1968 through the merger of National Provincial Bank and Westminster Bank, two institutions with roots stretching back centuries. As part of the NatWest Group (formerly RBS Group), it’s one of the UK's "Big Four" high-street banks, a testament to its long-standing presence and scale.
This history provides a sense of stability and trust that newer, digital-only banks can't replicate. With a vast network of physical branches, it offers a face-to-face service that many customers still value. However, like any legacy institution, it has faced its share of challenges, including navigating the 2008 financial crisis and adapting its colossal infrastructure to the digital age. Today, it aims to balance its traditional reliability with modern innovation.
Everyday Banking: Current Accounts Compared
Your current account is the workhorse of your financial life. NatWest offers a few core options tailored to different needs, from simple, no-fee accounts to ones packed with benefits.
The Everyday Hero: NatWest Select Account
This is NatWest's standard, no-frills current account. It’s free to maintain and gives you everything you need for daily banking: a debit card, access to the mobile app and online banking, and the ability to set up direct debits and standing orders. It’s a solid, straightforward choice if you don’t want to pay a monthly fee and just need the basics done well.
The Perks Package: NatWest Reward Account
For a small monthly fee (typically £2), the Reward account offers cashback on certain household bills paid by Direct Debit. You can also earn extra rewards by spending with select retail partners. The key is to do the maths: will the rewards you earn each month outweigh the account fee? If you have several eligible direct debits, it can easily pay for itself and then some, making it a clever way to get a little back from your essential spending.
For Young Adults: Student and Graduate Accounts
NatWest has long been a popular choice for students. Their student account often comes with an interest-free overdraft (a potential lifesaver) and sometimes an enticing sign-up perk. The Graduate account continues this support, typically offering a generous interest-free overdraft that tapers down over a couple of years, helping you transition into your career without immediate financial pressure.
| Account Type | Monthly Fee | Key Feature | Best For |
|---|---|---|---|
| Select Account | £0 | Simple, no-fee daily banking. | Customers who want a reliable, free current account. |
| Reward Account | £2 | Cashback on eligible household bills. | Those who can earn more in rewards than the monthly fee costs. |
| Student Account | £0 | Interest-free overdraft and potential perks. | Higher education students looking for financial flexibility. |
Growing Your Money: Savings and Investing with NatWest
Beyond everyday banking, NatWest provides several ways to help your money grow.
Savings Accounts and ISAs
NatWest offers a range of savings products, including easy-access savers, fixed-term bonds, and Individual Savings Accounts (ISAs). Their Digital Regular Saver is often a standout, offering a competitive interest rate on smaller, regular monthly deposits—perfect for building a savings habit.
While their rates are generally solid for a high-street bank, they may not always match the chart-topping offers from more specialist or digital-only providers. The main benefit is convenience: having your savings and current account in one place, managed through a single app.
Dipping a Toe into Investing
For those looking to take on more risk for potentially higher returns, NatWest offers a Stocks & Shares ISA and a General Investment Account. Their platform is designed to be accessible for beginners, offering a small range of ready-made funds based on your risk appetite. It’s a good entry point, but seasoned investors might find the options and fee structure more limited compared to dedicated investment platforms.
Big Life Purchases: Mortgages and Loans
When it comes to major financial commitments, going with a trusted name is often a priority.
NatWest is a major mortgage lender in the UK, providing loans for first-time buyers, home movers, and those looking to remortgage. They often feature competitive rates and offer helpful tools like an 'Agreement in Principle' to show how much you could potentially borrow. Their large scale means they have the infrastructure and expertise to handle these complex transactions.
They also offer personal loans for things like car purchases or home improvements. As with any lender, the APR you’re offered will depend on your personal circumstances, so it’s always wise to use an eligibility checker before applying to avoid impacting your credit score.
The Digital Experience: App and Online Banking Review
This is where a traditional bank can either shine or fall flat. Fortunately, NatWest’s digital offering is one of its biggest strengths. The mobile app is highly rated on both iOS and Android for good reason.
The NatWest App: A Modern Powerhouse
The app is clean, intuitive, and packed with useful features:
- Spending Insights: Automatically categorises your spending so you can see exactly where your money is going.
- Savings Goals: Create specific savings 'pots' within your savings account to visualise and track your progress.
- Card Controls: Instantly freeze or unfreeze your debit card, and set custom spending limits for added security.
- Easy Payments: Pay in cheques by scanning them with your phone and easily send money to friends and family.
For many users, the app is so comprehensive that they rarely need to log in to the desktop site or visit a branch.
Online Banking Portal
The desktop version of NatWest's online banking is robust and secure. It provides more detailed views of your statements, the ability to manage international payments, and a comprehensive hub for all your linked accounts, including mortgages and investments. It complements the app perfectly for more complex banking tasks.
Hitting a Snag: What's Customer Service Like?
No bank is perfect, and you’ll eventually need support. NatWest offers a full spectrum of customer service channels: in-branch, by phone, through secure messaging in the app, and via their AI chatbot, Cora.
Customer experiences, as reflected in reviews on sites like Trustpilot, are mixed—as is common for any large bank. Many praise the convenience of the app and the helpfulness of in-branch staff. However, some users report long wait times for phone support. The quality of service can be subjective, but the sheer number of ways to get help is a definite plus.
The Verdict: Who is NatWest Best For?
So, after diving into the details, is NatWest the right bank for you? It largely depends on what you value most.
NatWest is likely a great fit if:
- You value a top-tier mobile banking app backed by the security of a major high-street bank.
- You want the option of face-to-face service at a physical branch.
- You are a student or recent graduate who could benefit from a generous interest-free overdraft.
- You want the convenience of having your current account, savings, and potentially a mortgage all under one roof.
You might want to look elsewhere if:
- Your absolute top priority is earning the highest possible interest rate on your savings (challenger banks often lead here).
- You travel abroad frequently and need a card with no foreign transaction fees (specialist cards are better for this).
- You are a confident investor who wants a wide range of funds and lower platform fees.
Ultimately, NatWest strikes a compelling balance between traditional reliability and modern digital convenience. It has successfully evolved to meet the needs of most modern customers without abandoning the security and physical presence that defined it for generations. For a dependable, feature-rich, all-around banking experience, NatWest remains a formidable choice in 2025.