Just arrived in the UK! Don’t know where to start your custom student bank account, Natwest International Student Account is the right place for you to open a student account. Natwest International Student Account can give you some financial support throughout your university life. Natwest International Student Account has a lot of benefits like arranged overdrafts for eligible students’ accounts and other perks.
| Industry | Financial services |
| Founded | 18 March 1968; 55 years ago |
| Headquarters | London, England, UK |
| Key people | Sir Howard Davies, Chairman Dame Alison Rose, Chief Executive |
| Products | Banking, Investments, Lending and Insurance |
| Parent | NatWest Holdings |
| Subsidiaries | Coutts |
About Natwest
With its headquarters in London, England, The National Westminster Bank, better known as NatWest, is a sizable retail and business bank. It was established in 1968 by fusing Westminster Bank and National Provincial Bank. In 2000, Natwest merged with The Royal Bank of Scotland Group; in 2020, it became the NatWest Group.
NatWest has more than 960 branches and 3,400 ATMs spread throughout Great Britain. It also provides 24-hour Action line telephone as well as Internet banking services. More than 7.5 million individuals and 850,000 small businesses use it today. It conducts business in Northern Ireland under the Ulster Bank name.
How to Open Natwest International Student Account
Opening a Natwest International Student Account is quite simple. Thanks to the simple online application and bank account opening process that eliminates the hustle of booking an appointment or even visiting the branch. All students living in the UK, having a UK Mobile no. and a valid email address can easily avail of a Natwest International Student Account.
For a smooth opening of a Natwest International Student Account, one must ensure that he/ she has the following mentioned documents:
- Identification document (driving licence, passport, EU national ID card)
- Mortgage statements, utility bills, bank or credit card statements, and lease agreements from your local council or housing association for verification of proof of address.
- Proof of student status may include a UCAS status code, a letter from a student loan firm, a UCAS or NMAS letter, an LEA or SAAS award letter, or a letter of acceptance or enrollment offer from a university or college.
If you don’t have the necessary documentation for online account creation, you may always go the traditional method and open your Natwest International Student Account in your neighbourhood branch. In some circumstances, the bank may also ask you to upload a photo. Before using a document, be sure to check its validity requirements as various papers have different ones.
Also Read: All About Personal Loans For Students With No Income, No Credit Or Cosigner
Different Kinds of Natwest International Student Accounts offered
Both UK and international students can open a student bank account through Natwest. Similar account perks include the ability to pay on the move with Apple or Google Pay, online banking, mobile banking, and Paytm connectivity. You also get to choose from 3 excellent deals. The only differences are that if you’re an international student, you won’t be able to request an overdraft or receive a contactless debit card, and you’ll have to pay a monthly charge of £10 (INR 888.37 ) to keep the account open.
An arranged overdraft or student credit card can be applied for by students who are 18 years of age or older and have lived in the UK for three years or longer.
The scheduled overdraft maximum, if accepted, is £500( INR 44418) for the first term of your first year of study. If you’re in any other term or year of study, you can seek to increase it up to £2,000 (INR 17763).
Other advantages and benefits include the choice between one of three programmes, including Tastecardu, National Express coach card, and Amazon Prime Student. You cannot apply for a student credit card or an arranged overdraft if you have resided in the nation for fewer than three years, as is the case with the majority of UK banks.
Eligibility Criteria
If you are at least 17 years old and enrolled full-time in an undergraduate programme for at least two years and have lived in the UK for more than three years, you may apply for a basic Natwest student account. You may also apply if you are enrolled in a full-time postgraduate or nursing programme lasting at least a year.
Students from abroad who have been in the country for not longer than 3 years and who can provide documentation of their student status are eligible to apply for an international student account. Similar to the typical student account, this one is only accessible online.
For (foreign) students, Natwest will accept the following forms of identification:
- Passport (UK or foreign passport, including any necessary visas)
- Permit to reside using biometrics
- (EU or EEA) National ID card
- Licence to drive (UK, EU, or EEA)
- HMRC tax notification or communication, birth certificate, or adoption certificate
If you’re an international student, NatWest will change your account to a Select or Foundation account once you graduate; otherwise, your account will be changed to a Graduate account. However, they’ll let you know approximately 60 days beforehand, so there won’t be any surprises.
Also Read: Student Loan for UK
Monthly fees
Natwest doesn’t charge anything to open and maintain a regular student account, similar to the majority of banks. However, there is a £10 (INR 888) monthly maintenance charge for the global option. Additional costs and fees include
| Services | Fees |
| Standing order | No Fee |
| Sending money within the UK Faster PaymentsCHAPS payments (between banks) CHAPS payments (between branches) | No fee £23 (INR 2043) £21 (INR 1865) |
| Sending money outside the UK SEPA payment in EUR Standard international payment Urgent international payment | £10 (INR 888) £22 (INR 1954) £30 (INR 2665) |
| Receiving money from outside the UK Receiving less than £100 (INR 8883) Receiving more than £100 (INR 8883) | £1 (INR 88) £7 (INR 621) |
| Arranged overdraft Usage fee Interest | No fee 0% |
| Cash withdrawals outside the UK (in foreign currency) Foreign cash fee Non-Sterling transaction fee | 2% of the withdrawn amount (min £2 (INR 177), max £5(INR 444) ) 2.75% of the withdrawn amount |
| Paying with your debit card in a foreign currency Foreign purchase fee | 2.75% of transaction amount (min £1 (INR 88)) |
FAQs
Ans. Natwest doesn’t charge anything to open and maintain a regular student account, similar to the majority of banks. However, there is a £10 (INR 888) monthly maintenance charge for the global option.
Ans: Natwest charges a Transaction Fee of 2.75% of the total value of the withdrawal.
Ans. No, student checking accounts do not have monthly fees.
