NatWest is one of the UK's largest high-street banks, part of NatWest Group, which serves over 20 million customers across the UK and Ireland. The bank was formed from the 1968 merger of National Provincial Bank and Westminster Bank, commencing trading on 1 January 1970, and now sits at the heart of NatWest Group alongside Royal Bank of Scotland and Ulster Bank.
Customers
20m
UK accounts
Founded
1968
58 years old
App Store
4.8 ★
1.1m reviews
Google Play
4.7 ★
519k reviews
Live offers
1
Worth £200
National Westminster Bank Plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. FRN 121878. Eligible deposits are protected by the FSCS up to £120,000 per person.
Switching banks for the cash? NatWest has two switch deals running on Quidsy right now, with the bigger one paying £250 free cash. Both have low-friction criteria. Just pay in £1,250 and log into the app, no direct debits or card targets. Check eligibility, you can't have had a NatWest current account recently.
Updated:
Value
£200
NatWest is one of the UK's largest high-street banks, part of NatWest Group, which serves over 20 million customers across the UK and Ireland. The bank was formed from the 1968 merger of National Provincial Bank and Westminster Bank, commencing trading on 1 January 1970, and now sits at the heart of NatWest Group alongside Royal Bank of Scotland and Ulster Bank.
With an extensive branch network across Great Britain, a highly rated mobile app, and a full range of personal accounts, NatWest offers traditional banking with strong digital tools.
NatWest suits people who want the reassurance of a big high-street bank without giving up modern app banking. The fee-free Select account is a fit if you just want a clean everyday current account, while the Reward account works if you can earn back more than the £2 monthly fee through its cashback scheme. If you're chasing a switch bonus, NatWest is one of the more straightforward offers to qualify for.
If you want interest paid on your current-account balance, this isn't the bank for you, look at digital-only options instead.
Yes, NatWest is a safe place to keep your money. National Westminster Bank Plc is authorised by the Prudential Regulation Authority and regulated by both the FCA and the PRA (FRN 121878). Eligible deposits are protected by the FSCS up to £120,000 per eligible person (the new limit since 1 December 2025), and as one of the UK's four largest banking groups, NatWest Group is treated as systemically important by the Bank of England.
Two things worth knowing. First, NatWest and Ulster Bank share a single banking licence, so the £120,000 FSCS cover applies across both of them combined, not per brand. Royal Bank of Scotland sits under a separate licence, so it has its own FSCS pot.
Second, in December 2021 NatWest was fined £264.8 million at Southwark Crown Court after pleading guilty to anti-money-laundering failings between 2012 and 2016. It was the first time the FCA had brought criminal charges against a bank under the Money Laundering Regulations. The failings related to historical customer monitoring, not depositor safety, and the bank has since invested heavily in financial crime controls, but it's the kind of thing a fair review should mention rather than skip.
The fee-free Select account has no monthly charge and no minimum pay-in. The Reward account costs £2 a month and pays up to £5 back via direct-debit cashback and an app-login reward.
4.8 stars on iOS (over 1m ratings) and 4.7 on Google Play, with face and fingerprint login, real-time spending alerts and in-app card freezing.
Pays 7% AER for 12 months on balances up to £5,000 when you switch to NatWest, with up to £150 paid in each month.
Branches across Great Britain for in-person banking, plus access to the Post Office network for everyday cash and cheque services.
MyRewards lets you earn cashback at selected high-street and online retailers when you use a NatWest debit or credit card.
NatWest is a solid, no-surprises bank switch. The standard £200 offer has fewer hoops than most, no direct debits, no card-transaction targets, just pay in £1,250 and log into the app. That makes it one of the more straightforward switches to complete.
If you bank with a Premier-eligible income, the £250 Premier switch is the higher path, though it asks for a £5,000 pay-in. The 7% Digital Regular Saver is a genuine bonus on top if you want to park some savings.
On the downside, there's a hard credit check, and the current accounts don't pay any interest on your balance. The 2021 AML fine is also worth knowing about, even though it doesn't change how your deposits are protected today. But as a switch-and-earn offer, NatWest is clean and simple. If you already have a NatWest account, check if RBS works instead, separate brand, identical switch offer mechanics.
£175 Free Cash
Ended 7 May 2026
£250 Free Cash
Ended 30 Jul 2026
Next step
£200 Free Cash is the strongest live NatWest route we have listed right now.
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