NatWest is offering £50 cash to selected new customers - are you eligible?

Ali KhanJul 13, 2021Business

NatWest is a popular provider for many savers, and the bank is taking further steps to incentivise Britons. Today it has announced it is launching a new student account, and will reward those who choose to save with them. Every student will be offered £50 in cash, as well as a four-year tastecard membership.

“It is the first time we have offered a cash incentive on our student account.

“This combined with the tastecard membership will hopefully help every student make the most of their university experience.”

However, when it comes to this account there is important eligibility criteria which it is worth bearing in mind.

Firstly, to open this account, a person must be studying at a UK university or college.

They must be completing a full-time course at their place of study which lasts for at least two years.

Finally, the account is also open to those individuals who are training to be a nurse, widening the net of eligibility.

One key benefit of the NatWest student account is that it also comes with a £2,000 interest-free overdraft.

This is available in the first year of study and is intended to help students manage their money.

An overdraft which is interest-free may also help individuals to spread the cost of their studies.

To receive this offer, Britons will need to register for mobile or online banking with NatWest.

They will also need to choose to receive paperless statements within 30 days of opening their account.

When opening a student account, individuals will need a UK Passport or Driving Licence – whether this is full or provisional.

In addition, proof of address will also be required, and this can be gained through a bank statement or utility bill.

Students will also be required to verify their UK Student Status, and a 16 Digit UCAS code is the fastest way to do so.

After someone graduates, their student account will then switch to a Graduate account – but savers can expect to be notified about this 60 days in advance.

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