NatWest Student Account – Get £100

Written by James Caldwell
Last updated: 2nd September 2023

Finances can be challenging for students, but what if a bank account had perks and an app tailored to your needs?

The NatWest Student Account offers just that, with features designed to support you throughout your university journey.

Key Takeaways

  • NatWest Student Account offers an interest-free overdraft, debit card, and exclusive student offers
  • Applicants must be at least 17 years of age, UK residents for 3+ years, and full-time students
  • NatWest’s app provides budgeting tools to help manage finances effectively with no monthly maintenance fees

Overview of NatWest Student Account

The NatWest Student Account is designed to support students through their university life.

Offering an interest-free overdraft, a convenient debit card, and exclusive offers, this account provides a comprehensive banking solution tailored for students.

With benefits like these, it’s no wonder many students choose NatWest as their banking partner while at university.

NatWest Student Bank Offer 2023 »

Interest-Free Overdraft

One of the most attractive features of the NatWest Student Account is its interest-free overdraft facility, which offers interest-free overdrafts.

With an initial limit of up to £2,000 in the first year, the student overdraft can be increased to £3,250 from the third year onwards, depending on your eligibility.

This interest-free borrowing can be a lifesaver when waiting for your student loan or paycheck, making it a valuable benefit of having a student bank account.

Debit Card and Contactless Payments

The NatWest Student Account has a versatile debit card, quickly enabling online and in-store purchases.

Additionally, the debit card features contactless payment capabilities and compatibility with Apple and Google Pay, making transactions quick, secure, and hassle-free.

Exclusive Student Offers

Opening a NatWest Student Account comes with enticing incentives, such as a £100 cash bonus and a 4-year Tastecard membership.

With the Tastecard, you can enjoy discounts on food, entertainment, and attractions, making the most of your student life without breaking the bank.

Eligibility and Application Process

a student filling out an online application for a NatWest student bank account

To apply for a NatWest Student Account, you must meet specific eligibility criteria. Students with busy schedules will appreciate the convenience of the online application process.

Eligibility Criteria

To open a NatWest Student Account, you must meet certain requirements. Firstly, you must be at least 17 years old. Secondly, you need to have lived in the UK for a minimum of 3 years. Lastly, you must be a full-time student either in college or nursing.

Application Steps

Opening a NatWest Student Account is a straightforward process. To apply, you must provide your personal and financial information, course information, and a 16-digit UCAS code.

You must undergo a credit check; occasionally, we may request that you upload a photo ID, such as a passport.

We usually deal with applications within 24 hours or less. In some cases, it may take a week to process them.

Managing Your Account with the NatWest App

A student using the NatWest app to manage their student bank account

With the NatWest student banking app, managing your finances has never been easier. You can manage your money and split bills with the Housemate app while in university. Stay in control of your finances.

Now, we’ll unravel the features of the NatWest app and examine how they can enhance your account management.

Money Transfers and Budgeting

The NatWest app offers the following features:

  • Transferring money between accounts
  • Creating budgets
  • Setting up savings goals
  • Tracking your spending
  • Receiving alerts to help you stay on top of your finances.

The app also enables you to transfer money to other NatWest customers, making it a convenient tool for managing your finances.

NatWest Student Bank Offer 2023 »

Housemate App

Sharing living expenses with housemates can be challenging, but the NatWest Housemate app is here to help. This handy app allows you to:

  • Easily split bills and rent payments
  • Keep track of who owes what
  • Set reminders for upcoming payments
  • Communicate with your housemates about expenses

With the NatWest Housemate app, shared living expenses become more manageable.

The Housemate app works regardless of your housemates’ banking institution, making it a valuable tool for students living with others.


While the NatWest Student Account offers many benefits, knowing any associated fees is essential.

We will now examine these fees and their potential effects on your banking experience.

No Monthly Maintenance Fee

One of the advantages of the NatWest Student Account is the absence of a monthly maintenance fee. This means you can enjoy the account’s features and benefits without worrying about additional charges.

International Transaction Fees

A student using a debit card to make an international payment

While there is no monthly maintenance fee, using your NatWest Student Account for international transactions may incur fees.

For instance, a 2.75% fee applies to cash withdrawals and transactions abroad.

Awareness of these fees can help you make informed decisions about your banking and spending habits.

Alternatives for International Students


International students who are not eligible for a NatWest Student Account have other options available to them. These options include basic bank accounts, prepaid cards, and multi-currency accounts.

Additionally, the current account switch service may not be applicable in these cases.

Now, we’ll look at these options and how they can help international students manage their money while studying in the UK.

Basic Bank Accounts

Basic bank accounts provide limited banking services without overdraft facilities. These accounts are an option for international students who may not be eligible for a student account.

To open a bank account, you must be 18 or older, have ID, and live in the UK.

Prepaid Cards and Multi-Currency Accounts

A student holding a NatWest bank account card with a transition to a graduate account

Prepaid cards and multi-currency accounts, like Wise borderless accounts, can help international students with international transactions.

These products let users keep, send, and get money in different currencies, making them appealing for foreign students.

Graduation and Beyond

Life after university brings new financial challenges, and your banking needs may change as you transition from student to graduate.

We will now discuss your NatWest Student Account’s transition after graduation and the available banking options for postgraduates.

Transition to Graduate Account

Your NatWest Student Account will automatically transition to a graduate account upon graduation.

This account allows you an interest-free overdraft of up to £2,000 in year one. The following year, this drops to a maximum of £1,000.

Interest-free overdraft eligibility is no longer available from the third year onwards, so you must plan your finances accordingly.

Postgraduate Banking Options

Postgrad students can get a student account current account or extend their existing account based on their course and eligibility. Eligible students can choose the best option for their financial needs.

Reviewing your banking needs and selecting the best solution for your postgraduate studies is necessary to continue receiving the financial support and services you need.

Comparison with Other Student Bank Accounts

A student choosing the best student bank account for them

A comparison of various options is essential when selecting a student bank account that best fits your needs.

A comparison of overdraft limits, perks, and eligibility requirements can help you choose the account that will support you through university.

Overdraft Limits and Perks

NatWest Student Account offers competitive overdraft limits and perks compared to other student accounts, such as HSBC and Santander.

For example, the Lloyds student bank account offers an interest rate of 2% per annum for balances up to £5,000 and a sign-up incentive of £100.

Considering these factors is crucial when selecting a student bank account that aligns with your needs.

Choosing the Best Account for You

When selecting the best student bank account, consider factors such as overdraft limits, additional perks, and eligibility requirements.

Remember, having a substantial interest-free overdraft for three years or longer is more critical than freebies when choosing a student bank account.

Checking the proximity of the bank’s branch to your campus or accommodation for convenient access to banking services, including online banking, is also beneficial.


In conclusion, the NatWest Student Account offers a comprehensive banking solution for university students.

This account can support you throughout your student life with features such as an interest-free overdraft, debit card with contactless payments, and exclusive offers.

By comparing different accounts and considering your financial needs, you can choose the best student bank account to help you manage your finances and focus on your studies.

Compare Bank Switch Offers 2023 »

Frequently Asked Questions

What are the benefits of a NatWest student account?

The NatWest Student Account provides many great benefits, such as an overdraft facility, cashback offers and discounts.

Plus, customers get free access to digital banking through the NatWest mobile app and website.

Does NatWest do student accounts?

NatWest provides student accounts for UK citizens who have lived in the country for three years. NatWest offers student accounts to UK citizens who have resided in the country for three years.

To open the account, you need to be at least 17 years old. Additionally, if you want to apply for an arranged overdraft, you must be at least 18 years old.

These requirements are in place to ensure that the account is used responsibly and that the customer is able to manage their finances. NatWest also offers various other services, such as online banking, mobile banking, and other financial products.

How much is a student account at NatWest?

A NatWest Student Bank Account is available for £100 cash and comes with a free tastecard worth £39.99 per year for 4 years.

What are the eligibility requirements for a NatWest Student Account?

To be eligible for a NatWest Student Account, you must be 17 years or older, have been a UK resident for 3+ years, and be enrolled as a full-time student.

NatWest’s new mobile banking app is perfect for students. It offers useful features like a £2,000 interest-free overdraft, a contactless debit card, and online and mobile banking access.

How do I apply for a NatWest Student Account?

Apply for a NatWest Student Account online through the NatWest application portal.

To start, provide your personal and financial details, course information, and a 16-digit UCAS code.