NatWest has launched a new student account offering a £100 welcome payment and an interest-free overdraft of up to £3,250, available to customers aged 17 and over. The bank, which has branches in Birmingham, aims to support students managing their finances for the first time.
Overdraft and benefits
The interest-free overdraft starts at £2,000 in the first year and increases to £3,250 by the third year. In addition to the cash incentive, customers receive a four-year tastecard membership, providing discounts at restaurants and takeaways including Black Sheep Coffee, Domino's, and Krispy Kreme, as well as 25% off barista-made drinks through Coffee Club.
Eligibility criteria
To qualify for the NatWest Student account, applicants must be 17 or older, have lived in the UK for at least three years, and be enrolled in a full-time undergraduate course (minimum two years at a UK university or college) or a nursing course lasting at least one year. A 16-digit UCAS code is required.
Banking tools and features
Paul Slinger, Head of Customer Onboarding at NatWest, said: “Starting university is an exciting milestone, but it’s also often the first time students are managing their own money day to day. An interest‑free overdraft can provide a vital safety net as students find their feet, supported by tools to help them budget confidently and stay in control.” The account includes features in the NatWest mobile app such as Split Bill and Request Money, Round Ups to automatically build savings, cardless cash, quick transfers from other banks, and in-app credit score tracking.
