NatWest Premier Select bank account review
- Incentive
- No foreign transaction fees on purchases abroad (ATM withdrawals & local fees may apply).
- Account fee
- £0
- Interest (AER)
- 0% AER
- Overseas card transactions
- 0%
- Representative example
- Representative Example: Assumed arranged overdraft of £1,200. Effective annual interest rate 0% on arranged overdrafts up to £500, 34.49% EAR (variable) above £500. Representative 20.1% APR (variable). How does this overdraft compare? Representative APRs help you compare the cost of different credit products.
Our verdict
Looking for a more exclusive bank account? Find out about the NatWest Premier Select bank account to see if it’s right for you.
If you're looking for tailored financial support with your bank account, the NatWest Premier Select account ticks the box. With its round-the-clock support, dedicated banking manager and access to exclusive products, there's a lot to like about the account.
However, as is typical of this type of account, eligibility criteria are strict and this will automatically rule out many customers. As always, it pays to shop around and compare what else is out there. Visit NatWest's website to apply or compare other NatWest accounts here and premier accounts from other banks here.
Pros
-
No monthly fee
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Arranged overdraft available
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No transaction fee on purchases abroad (local fees may apply and not available on ATM withdrawals)
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Round-the-clock support with Premier 24
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Access to a Premier Manager when you need it
Cons
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You’ll need to meet strict eligibility criteria
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Interest charged on overdrafts
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No interest paid on in-credit balances
Details
Product overview
| Account name | Premier Select |
| Incentive | No foreign transaction fees on purchases abroad (ATM withdrawals & local fees may apply). |
| Provider | NatWest |
| Account fee | £0 |
| Interest (AER) | 0% AER |
| ATM withdrawal limit | £300 |
| Debit network | Mastercard |
| Card type | Cash / Debit |
| Minimum eligibility age | 18 Years |
| Minimum operating balance | £0.01 |
| Minimum opening balance | £0.01 |
| Direct debits | |
| Current account switch guarantee | |
| Cheque Book |
Fees
| Currency conversion withdrawal for overseas cash withdrawal in Europe (EEA) | 2.75% |
| Currency conversion withdrawal for overseas cash withdrawal in non-Europe (EEA) | 2.75% |
| Foreign cash transaction fee in Europe | 0% |
| Foreign cash transaction fee in rest of world | 0% |
Overdraft information
| Arranged overdraft available | |
| Overdraft Grace Period | 14:30 same day |
| Representative example | Representative Example: Assumed arranged overdraft of £1,200. Effective annual interest rate 0% on arranged overdrafts up to £500, 34.49% EAR (variable) above £500. Representative 20.1% APR (variable). How does this overdraft compare? Representative APRs help you compare the cost of different credit products. |
If you’re a high earner, have a lot of savings or a large mortgage with NatWest then you might be eligible for its Premier Select current account. It’s a premium bank account with perks such as fee-free debit card spending abroad and Premier Select has no monthly fee either.
National Westminster Bank, or NatWest, is a big high street name with a history dating back to 1968. Since 2020 it has been part of the NatWest Group which includes Royal Bank of Scotland and Ulster Bank.
NatWest offers a wide range of financial products and current accounts, including the NatWest Premier Select bank account.
What is the NatWest Premier Select bank account?
As well as offering everything you’d expect from a bank account, the NatWest Premier Select account provides exclusive benefits such as round-the-clock help and one-to-one support for all-important financial decisions.
There’s no monthly fee for the account but you will need to meet certain financial criteria. You can open the account individually or jointly and it comes with a contactless Mastercard debit card.
How does it work?
If you open a NatWest Premier Select bank account, you’ll be able to take advantage of the following:
- Round-the-clock support. Expert help is available 24/7 online or over the phone.
- Financial support. A Premier Manager will be on hand to help with more complex financial decisions or plans.
- Arranged overdraft. This is subject to eligibility.
- Access to an enhanced level of insurance cover. Available with Premier Insurance if you need it.
- Access to NatWest’s will writing and executor services. Helping you to plan for the future. Note that a fee will apply.
Who is it for?
To apply for the NatWest Premier Select account you will need to be at least 18 years old and a UK resident. In addition, you will need to meet one of the following criteria:
- Minimum sole income of £100,000 or joint income of £120,000 paid into your NatWest account
- £500,000 minimum mortgage borrowing with NatWest
- Minimum £100,000 savings or investments held with NatWest
What are the benefits?
If you’re an existing NatWest customer, and you earn a high salary or have significant assets, the Premier Select account can help you to better manage your money by offering a more personalised service 24/7. You’ll also have access to more tailored and exclusive products (eligibility applies).
How to apply
The NatWest Premier Select account can be opened online. You’ll need to fill in an application form and provide details about your address, job and so on, and provide photo ID and proof of address. You’ll also be asked for a short video to compare to your photo ID. Once security checks have been carried out you’ll get a welcome call within 2 working days and your account will be set up.
Customer service information for NatWest
| Email support | |
|---|---|
| Telephone support | |
| In-app or live chat | |
| Contact form | |
| Branch support |
Frequently asked questions
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