Janice Lozano
NatWest offers a variety of student bank accounts, including the NatWest International Student Account, which is a good option for those who have just arrived in the UK. While the standard NatWest student account is free, the international option has a £10 monthly maintenance fee. International students who have lived in the UK for no more than 3 years and can provide proof of their student status are eligible to apply for an international student account. The account offers several benefits, such as the ability to pay using Apple or Google Pay, online and mobile banking, and Paytm connectivity.
| Characteristics | Values |
|---|---|
| Account opening and maintenance charges | Free for standard student account; £10 monthly fee for international option |
| Eligibility | International students who have lived in the UK for no more than 3 years and have proof of student status |
| Documents required | Identification document (driving license, passport, EU national ID card), mortgage statements, utility bills, bank or credit card statements, proof of address, proof of student status |
| Perks | Interest-free overdraft, cashback offers, discounts at restaurants and cinemas, 4-year Tastecard, Amazon Prime Student, National Express coach card |
| Other features | Online banking, mobile banking, Apple Pay, Google Pay, Samsung Pay, Paytm connectivity, Direct Debit, 24-hour Action line telephone |
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What You'll Learn
International student account eligibility
International students can open a student bank account through Natwest. However, there are certain eligibility criteria that must be met. Firstly, international students must have lived in the UK for no more than three years and be able to provide proof of their student status. This can include a UCAS status code, a letter from a student loan firm, or a letter of acceptance or enrolment from a university or college. Additionally, international students must have a UK mobile number and a valid email address.
The Natwest International Student Account offers benefits such as financial support throughout university life, including arranged overdrafts for eligible students. However, it is important to note that international students are not able to request an overdraft or receive a contactless debit card with this account. There is also a monthly charge of £10 for the international option, which is waived for UK students.
To apply for a standard Natwest student account, applicants must be at least 17 years old and have lived in the UK for more than three years. They must also be enrolled in a full-time undergraduate program of at least two years or a full-time postgraduate or nursing course of at least one year. For those who meet the eligibility criteria, the Natwest student account offers perks such as interest-free overdrafts, cashback offers, and discounts.
Overall, the Natwest International Student Account can be a convenient option for international students looking for financial support and perks during their university years in the UK. However, it is important to carefully review the eligibility criteria and associated fees before opening an account.
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Monthly fee
The NatWest International Student Account is a great option for international students looking for a student bank account in the UK. This account can provide financial support throughout your university life, offering various benefits such as arranged overdrafts for eligible students and other perks.
While NatWest does not charge for opening and maintaining a standard student account, there is a monthly maintenance fee for the international option. The monthly fee for the NatWest International Student Account is £10. This fee allows students to keep their account open and access the various features and benefits that come with it.
It is important to note that international students who have resided in the UK for fewer than three years are not eligible for the standard NatWest Student Account and its associated benefits, such as overdrafts and contactless debit cards. However, they can still apply for the International Student Account by providing proof of their student status.
The NatWest International Student Account offers a seamless online application and account opening process, eliminating the need for branch visits or appointments. Students are required to provide identification documents, proof of address, and proof of student status to open the account.
In addition to the monthly fee, international students should also be aware of other potential fees and charges associated with the account, such as those for overdrafts or credit cards, which may vary based on individual circumstances and eligibility.
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Account perks
Natwest's International Student Account offers a variety of perks to account holders. Firstly, it provides financial support throughout your university life, including arranged overdrafts for eligible students. The account has a simple online application and account opening process, eliminating the need for appointments or branch visits. International students can easily apply with a UK mobile number and valid email address. The account offers perks such as the ability to pay on the move with Apple or Google Pay, online banking, mobile banking, and Paytm connectivity.
Additionally, you can choose from three excellent deals: Tastecard, National Express Coach Card, and Amazon Prime Student. International students who have resided in the UK for fewer than three years are not eligible for a standard student account but can apply for an international student account with similar features. This account is only accessible online and has a monthly maintenance fee of £10.
The Natwest Student Account also provides an interest-free overdraft of up to £2,000 in the first year, potentially rising to £3,250 in the third year. New students can also receive a £85 cash bonus and a 4-year Tastecard, which offers discounts at restaurants and cinemas. The account allows for easy management of finances, including viewing balances, transferring money, and changing direct debits through the Natwest banking app, online banking, or in-branch.
Furthermore, the account offers the convenience of paying regular bills via Direct Debit and transferring money between accounts using a smartphone. Students can save on average £109 per month, according to the Natwest Student Living Index 2024. The account also provides access to a large network of branches and ATMs across Great Britain, 24-hour Action Line telephone support, and internet banking services.
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Application process
The NatWest International Student Account is a good option for international students who have just arrived in the UK and are looking for a student bank account. The account provides financial support throughout your university life and offers benefits like arranged overdrafts for eligible students' accounts and other perks.
NatWest's online application and bank account opening process are simple and straightforward. There is no need to book an appointment or visit a branch. To apply for a NatWest International Student Account, you must be living in the UK and have a UK mobile number and a valid email address.
Gather the required documents:
- Identification document (driving licence, passport, EU national ID card)
- Proof of address (mortgage statements, utility bills, bank or credit card statements, lease agreements from your local council or housing association)
- Proof of student status (UCAS status code, a letter from a student loan firm, a UCAS or NMAS letter, an LEA or SAAS award letter, a letter of acceptance or enrolment offer from a university or college)
- Complete the online application form: Provide your personal and contact information, as well as details about your student status and financial situation.
- Submit the application: Review your application to ensure all the information is accurate and complete. Then, submit it for processing.
- Await approval: NatWest will review your application and may contact you for additional information or documentation.
- Account activation: Once your application is approved, NatWest will provide instructions on activating your account, including setting up your online banking and mobile banking access.
- Choose your perks: NatWest offers a choice of three programmes, including Tastecard, National Express Coach Card, and Amazon Prime Student.
It is important to note that international students are not eligible for an overdraft or a contactless debit card with this account. Additionally, there is a £10 monthly maintenance fee for the international option.
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Alternative accounts
If you are an international student in the UK, you may want to open a UK bank account. This can be a lengthy and complicated process, so it is important to understand the requirements and choose the right bank for you.
Some banks may not accept applications from people who have not been living in the UK for at least three years prior to starting their studies. You will also need to provide proof of your UK address, as well as other documents such as your passport, student visa, and proof of address from your university.
There are several alternatives to a NatWest International Student Account. Here are some options:
- HSBC International Student Bank Account: This account is designed for international students who have lived in the UK for less than three years. It is a simple current account with no monthly account fee, and it offers mobile, online, and in-branch banking. International students can also access the HSBC International Home&Away programme, which provides offers on fashion, food, and drink, as well as exclusive offers from accommodation partners.
- Barclays Student Additions Account: To be eligible for this account, you must have lived in the UK for at least three years. It is a standard current account with a personalised debit card, offering mobile banking and features like spending notifications and money management tools.
- Wise Account: This is an alternative to a traditional bank account, allowing you to send, hold, and convert money in multiple currencies, and spend in countries using your Wise card. It is done entirely online or through the Wise app.
- Other Banks: Other big banks in the UK, such as Barclays, Lloyds, and Santander, may also offer accounts for international students. These banks are accustomed to working with overseas customers and may have faster procedures for opening an account.
When choosing a bank account, it is important to consider the ease of opening an account, the availability of local branches, and the benefits offered, such as overdrafts, discounts, and cashback.
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Frequently asked questions
No, there is a monthly maintenance fee of £10 for the international option.
NatWest international student accounts offer financial support throughout your university life. Benefits include arranged overdrafts for eligible students' accounts, perks such as Tastecard, National Express coach card, and Amazon Prime Student, and the ability to pay on the move with Apple or Google Pay.
Students who have lived in the UK for fewer than three years and can provide documentation of their student status are eligible to apply for an international student account. Other requirements include having a UK mobile number and a valid email address.
You can open a NatWest international student account through a simple online application. You will need to provide identification documents such as a passport or driving license and proof of address such as utility bills or bank statements. Proof of student status may include a UCAS status code, a letter of acceptance from a university, or a student loan firm letter.
