NatWest has confirmed a significant rule change that will benefit customers heading abroad on holiday. From October 1, 2026, holders of the Reward Platinum debit card will no longer be charged foreign transaction fees when making purchases overseas or paying in a foreign currency. This move eliminates the current 2.75% fee applied to overseas transactions, including card payments and cash withdrawals.
The bank, which operates branches in Birmingham and across the UK, announced the change as part of a broader refresh of its Reward Platinum account. The updated package will introduce new travel, health, and lifestyle benefits, alongside a revised monthly fee of £23, up from the current £22. NatWest confirmed the changes in a statement, saying: "From the 1st October, we'll be refreshing Reward Platinum with exciting new benefits, updated terms and a new monthly fee of £23."
What Changes for Reward Platinum Customers?
In addition to scrapping foreign transaction fees, NatWest is enhancing the account's perks. Customers will continue to earn £4 in Rewards each month and gain access to partner retailer offers. The bank is also adding DragonPass Premier+, which includes a travel eSIM and airport benefits, making it easier for customers to stay connected and enjoy their journeys.
Health benefits are also being upgraded, with 24/7 access to a Virtual GP, physiotherapy, and mental health support. These services aim to provide peace of mind for customers while at home or abroad. Furthermore, the account now includes cinema discounts through tastecard, and family cover is included with mobile phone insurance, offering added value for households.
What Remains Unchanged?
NatWest confirmed that customers will still have access to travel insurance and car breakdown cover, which are popular features of the account. However, the bank noted a change in the rewards structure: "You'll no longer receive £1 in Rewards for logging into the app," the bank added. This adjustment means customers will need to rely on the other benefits to maximise the account's value.
The bank also clarified the scope of the foreign transaction fee waiver. It applies to purchases made with the Reward Platinum debit card abroad or payments in a foreign currency. Cash withdrawals are excluded, and other providers overseas may still charge their own fees. This distinction is crucial for customers planning to use the card for ATM withdrawals while travelling.
Why Is NatWest Making These Changes?
NatWest says the changes are a direct response to customer feedback. In a statement, the bank explained: "Our customers have told us what matters most to them, and we’ve used this to shape the changes we’re making to your account benefits from 1st October 2026." The bank is consolidating insurance, health, travel, and lifestyle benefits into a single package, aiming to provide a more comprehensive offering for its Reward Platinum customers.
The monthly fee increase from £22 to £23 reflects the expanded benefits. While the fee rises by £1, the elimination of foreign transaction fees alone could save frequent travellers significantly. For example, a customer spending £1,000 abroad would have previously paid £27.50 in fees; under the new rules, that cost is removed.
Impact on Holidaymakers and Everyday Banking
For Birmingham residents and customers across the UK, the removal of foreign transaction fees is a welcome boost for holiday budgeting. With the summer travel season in full swing, this change could save families and individuals hundreds of pounds on overseas spending. The inclusion of travel eSIM and airport benefits through DragonPass Premier+ also adds practical value for those who travel regularly.
Beyond travel, the health and lifestyle perks—such as 24/7 Virtual GP access and cinema discounts—make the account more attractive for everyday use. The inclusion of family cover on mobile phone insurance is another plus, potentially reducing the need for separate policies.
What Should Customers Do Now?
Existing Reward Platinum customers do not need to take any action; the changes will apply automatically from October 1. However, it's advisable to review the updated terms to understand the full scope of benefits and any exclusions, such as cash withdrawals from the foreign transaction fee waiver. Customers who are considering the account should weigh the £23 monthly fee against the potential savings and benefits, especially if they travel frequently or value the health and lifestyle extras.
NatWest's move aligns with broader trends in the banking sector, where digital banks and fintechs have long offered fee-free overseas spending. By matching these offerings, NatWest aims to retain and attract customers who prioritise travel-friendly banking. The change is effective from October 1, 2026, giving customers ample time to plan their autumn and winter getaways with the new benefits in mind.
